Medical device packaging market is expected to expand at an above average growth over the forecast period. Western Europe, the U.S. and Japan are the largest consumers with more than half of the world consumption owing to advanced technological capabilities essential for the medical devices production.
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Growing healthcare industry is expected to drive the medical devices market which in turn affects the medical device packaging demand. However, healthcare cost reduction in the major markets as well as cost sensitiveness due to rising completion in the medical devices market might hamper the market growth. Growth in regions other than Western Europe, the U.S. and Japan is expected to present future prospects for the medical device packaging market.
Containers are the dominant product types of medical device packaging and expected to remain the largest segment over the forecast period. Other product types include pouches, trays, blister packs, clamshell packs and vials. Stringent government regulations and strict industry standards are expected to further enhance the market demand. Improved strength, barrier properties and puncture resistance have added to the attractiveness of pouches for small to medium sized packages. Multiple compartment trays and clamshell trays are other types which are gaining popularity attributed to lower risk of infection spreading and staff errors during the organization of products.
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Europe is the leading consumer followed closely by North America. Major demand in Europe is generated from Western Europe where most of the major consumers such as GE Healthcare, Phillips and Siemens Healthcare among others are located. Asia Pacific has emerged as the fastest growing market led by India and China owing to expansion and stricter regulations for medical products industry in the region.
Some of the players in the medical device packaging market include Amcor Limited, Chesapeake Limited, DuPont, Klöckner Pentaplast Group, MeadWestvaco Corporation, Mitsubishi Chemical Holdings Corporation and 3M Company among others.