The Global Medical Device Packaging Market is expected to grow at a high CAGR of 23.20% during the forecasting period (2022-2029).
Medical device packaging is an important part of the delivery of the device to market safely and securely. The packaging of the medical device helps to avoid device failure costs and reduces the time-delivery time of the complex equipment for device manufacturers. Medical device manufacturers require innovative design solutions which offer the most efficient, safe, and protective packaging.
Providing the packaging supplier with the final device saves time, money and the hassle of potentially entire packaging project. The medical device packing is done with known and traceable materials. It should be non-toxic, non-leaching and odorless, free of holes, cracks, tears, creases and localized, intended for use in medical applications. Medical device packaging provides physical protection and allows sterilization aseptic presentation.
The global medical device packaging is driven by rising demand for medical devices demand such as ventilators etc. due to the surge in prevalence of the Covid-19. Further increasing healthcare spending due to growing health awareness and surge in incidences of chronic conditions drives the market for medical packaging.
Rising demand for the medical device due to the rising prevalence of the Covid-19 infection with increasing healthcare spending
The market is driven by rising demand for medical devices due to the rising prevalence of the Covid-19 pandemic with the surge in healthcare spending. As per the Worldometer on 15th November 2020, an estimated around 56.01 million cases and an increase of 1.15 million deaths due to the Covid-19 infectious. It created a massive demand for medical devices such as ventilators, accessories and other respiratory devices for the necessary treatment of the infected cases.
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Rising demand for medical devices due to the surge in prevalence of chronic diseases has propelled the demand for the medical device packaging market
Increase in the adoption of the medical device packaging due to surge in the prevalence of chronic conditions such as diabetes, cancer etc. As per the World Health Organization, globally around 18.1 million cancer cases were diagnosed and 9.6 million death occurred in 2018. Thus the rising prevalence of cancer diseases has propelled the demand for advanced medical devices throughout the world which propelled the medical devices packaging market.
- Clamshell Packs
- Films and Lamination
- Non-woven Fabric
- Paper & Paperboard
By Packaging Type
The medical device packaging market is moderately competitive with the presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include WestRock Company, Amcor, Constantia Flexibles Group GmbH, Bemis, Sonoco Company, Avery Dennison Corporation, 3M Company, Aphena Pharma Solutions, Beacon Converters, Inc, Berry Global Inc, Clondalkin Group, Constantia, Klöckner Pentaplast, Mitsubishi Chemical Holdings Corporation and among others.
The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the Medical Device Packaging market globally. For instance, on31st March 2017, Sonoco launched ClearGuard New Portfolio of Clear Barrier Flexible Packaging Sonoco which offers transparency and builds trust with consumers while providing best-in-class barrier properties for product protection.
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