Medical Device Packaging Market Size is projected to reach USD 61.27 Billion by 2030, growing at a CAGR of 8%: Straits Research

The global medical device packaging market, by value, was estimated at USD 32175 million in 2020, which is expected to reach USD 61275 million by 2030, growing at a CAGR of 8% during the forecast period (2022-2030). North American global medical device packaging market was valued at USD 96,440 million in 2021. It is predicted to reach USD 161145 million by 2030, increasing at a 6% CAGR

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New York, United States, Aug. 09, 2022 (GLOBE NEWSWIRE) -- The primary function of healthcare packaging is to protect the products produced by the healthcare business. Healthcare items use packaging to adhere to medical norms and safeguard product purity. Medical Device Packaging is a significant aspect of the worldwide medical device business, and adequate packaging is required to avoid infections that would be harmful to patients and maintain sanitation.

Players in the market are shifting toward a self-sustaining process due to stringent regulatory government laws and greater awareness about environmental problems, resulting in substantial research and development for the enhancement of healthcare products and packaging. As producers focus on innovation by introducing automation in line and process production, the industry is expected to see massive changes in its timetables and operations.


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Growing Medical Devices Market Globally to Drive the Global Medical Device Packaging Market 
Surgical implants and instruments, emergency aid, electro-medical equipment, in-vitro diagnostic equipment and solutions, irradiation instruments, and dental items are the most common medical devices utilized in the healthcare sector. The demand for the aforementioned medical gadgets has been quickly expanding over the last decade, owing to an aging population requiring improved healthcare services.
People's unhealthy lifestyles have increased the prevalence of chronic diseases such as cardiovascular disease, cancer, diabetes, stroke, and arthritis in recent times, particularly in developed nations. Furthermore, to assist in expanding the medical device business, numerous governments, particularly in the Asia Pacific, have offered various incentives to medical device producers.


Advancement in Technology to Provide Opportunities for the Global Medical Device Packaging Market
Human lifespan has increased many times, meaning that a substantial proportion of older people require medical care. People's awareness promotes demand for medical gadgets which can be used in home healthcare. The expansion of the medical device packaging market and the healthcare system are intimately associated. Furthermore, technical improvements in the healthcare industry and developing economies' more significant focus on expanding their health architecture are expected to present appealing opportunities for medical device packaging enterprises. As sustainability issues develop, recycling and reusing packaging is becoming increasingly prevalent in the market. This also creates room for fresh ideas.


Report Scope

Report MetricDetails
Market SizeUSD 61.27 Billion by 2030
CAGR8% (2020-2030)
Historical Data2019-2020
Base Year2021
Forecast Period2022-2030
Forecast UnitsValue (USD Billion)
Report CoverageRevenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments CoveredBy Material, Product, Application, and Region
Geographies CoveredNorth America, Europe, Asia-Pacific, LAME and Rest of the World
Key Companies Profiled/VendorsAmcor plc, Sonoco Products Company, Mondi, CCL Industries, Constantia Flexibles, WestRock Company, Berry Global Inc., Glenroy Inc
Key Market OpportunitiesAdvancement in Technology to Augment Market Growth Prospect
Key Market DriversGrowing Medical Devices Market Globally to Impede the Market Growth

Rapid Demand for IVD's Post Covid-19 Outbreak to Boost Market Opportunities

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Impact of COVID-19

The COVID-19 pandemic has harmed various industries, including transportation, hotels, and, to a lesser extent, packaging. The manufacturing and transit of non-essential items were entirely halted during the lockdown. The lack of staff in the manufacturing plants during the early stage of the outbreak considerably slowed activities connected to the quality check, validation, and licensing of medical devices, resulting in a reduction in the time to market medical devices. Because hospitals needed to allocate resources and capacity for future COVID-19 situations, the frequency of routine and elective operations was greatly diminished. Due to the significant likelihood of disease dissemination within hospital premises, consumers decided to avoid non-emergency treatments or implants.
Furthermore, as a result of this transition in consumer behavior and hospitals' primary concern on COVID 19, demand for various medical devices has significantly decreased, as evidenced by a fall in the turnover of the majority of medical device suppliers. As a result, there has been a net detrimental effect on medical devices. As a result of the negative impact on medical devices, the medical device packaging firms' growth rate has slowed.


Regional Insights
Based on regions, the global medical device packaging market is segmented into North America, Europe, Asia-Pacific, Central and South America, and Middle East & Africa.
North America holds a sizable share of the worldwide medical device packaging market during the forecast period. The North American global medical device packaging market was valued at USD 96,440 million in 2021. It is predicted to reach USD 161145 million by 2030, increasing at a 6% CAGR. Due to the presence of the medical sector and the prevalence of several entities specializing in the health sector, North American states, specifically, the United States, have accounted for the largest share market for medical device packaging. As innovation is critical in the treatment and diagnosis of medical diseases, such activities by medical device manufacturers are projected to push the industry's expansion even further.
During the projected period, the medical packaging market in Asia-Pacific is anticipated to develop at the fastest CAGR. It was worth USD 8,995 million in 2021 and is expected to be worth USD 18085 million by 2030, expanding at 8% CAGR. China and Japan have the world's fastest-growing economies and are one of the world's largest marketplaces for medical products. The increasing volume of individuals suffering from chronic and lifestyle diseases is predicted to drive up the demand for medical equipment. As the country's healthcare system prioritizes enhanced therapies and health maintenance, there is lucrative potential for medical device manufacturers in Japan to succeed in complex and novel medical devices.


Key Insights

  • The global medical device packaging market size was valued USD 32175 million in 2020. It is expected to reach USD 61275 million by 2030, growing at a CAGR of 7%. 
  • By material, the medical device packaging market has been segmented into four categories: plastic, paper, paperboard, metal, and others. Plastic will be the frequently used material in the medical device packaging market in 2021. It is valued at USD 20,995 million in 2021 and is expected to reach USD 35990 million by 2030 growing at a CAGR of 6%. 
  • Based on product, the medical device packaging market has been segmented into pouches and bags, trays, boxes, clamshells, and others. Pouches & bags represent the most dominated segment. It is valued at USD 20,995 million in 2021 and is expected to reach USD 20105 million by 2030 growing at a CAGR of 6%. 
  • Based on application, the medical device packaging market has been segmented into equipment and tools, devices, IVD, and implants. IVD is the most dominated segment, valued at USD 9,640 million in 2021. It is expected to reach US 18265 million by 2030 growing at a CAGR of 7%. 


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Competitive Analysis

List of the Key Companies Profiled in the Medical Device Packaging Market

  • Amcor plc
  • Sonoco Products Company
  • Mondi
  • CCL Industries
  • Constantia Flexibles
  • WestRock Company
  • Berry Global Inc.
  • Glenroy Inc
  • SteriPack Group
  • Riverside Medical Packaging Company Ltd


Global Medical Device Packaging Market: Segmentation 
By Material

  • Plastics
  • Paper and Paperboard
  • Metal
  • Others

By Product

  • Pouches and Bags
  • Trays
  • Boxes
  • Clamshells
  • Others

By Application

  • Equipment and Tools
  • Devices
  • IVD
  • Implants

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Central and South America
  • Middle East and Africa


TABLE OF CONTENT

  1. Introduction
    1. Medical Device Packaging Market Definition
    2. Medical Device Packaging Market Scope
  2. Research Methodology
    1. Primary Research
    2. Research Methodology
    3. Assumptions & Exclusions
    4. Secondary Data Sources
  3. Market Overview
    1. Report Segmentation & Scope
    2. Value Chain Analysis: Medical Device Packaging Market
    3. Key Market Trends
      1. Drivers
      2. Restraints
      3. Opportunities
    4. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitution
      4. Threat of New Entrants
      5. Competitive Rivalry
    5. Market Share Analysis
  4. Material Overview
    1. Introduction
      1. Market Size & Forecast
    2. Plastics
      1. Market Size & Forecast
    3. Paper
      1. Market Size & Forecast
  5. Products Overview
    1. Introduction
      1. Market Size & Forecast
    2. Pouches and Bags
      1. Market Size & Forecast
    3. Trays
      1. Market Size & Forecast
  6. Regional Overview
    1. Introduction
      1. Market Size & Forecast
    2. America
      1. North America
      2. U.S.
        1. By Material
        2. By Products
      3. Canada
        1. By Material
        2. By Products
      4. Mexico
        1. By Material
        2. By Products
      5. Latin America
        1. By Material
        2. By Products
    3. Europe
      1. Market Size & Forecast
      2. Germany
        1. By Material
        2. By Products
      3. France
        1. By Material
        2. By Products
      4. U.K.
        1. By Material
        2. By Products
      5. Italy
        1. By Material
        2. By Products
      6. Spain
        1. By Material
        2. By Products
      7. Rest of Europe
        1. By Material
        2. By Products
    4. Asia Pacific
      1. Market Size & Forecast
      2. Japan
        1. By Material
        2. By Products
      3. China
        1. By Material
        2. By Products
      4. Australia
        1. By Material
        2. By Products
      5. India
        1. By Material
        2. By Products
      6. South Korea
        1. By Material
        2. By Products
      7. Rest of Asia-Pacific
        1. By Material
        2. By Products
    5. Middle East & Africa
      1. Market Size & Forecast
      2. Saudi Arabia
        1. By Material
        2. By Products
      3. South Africa
        1. By Material
        2. By Products
      4. Kuwait
        1. By Material
        2. By Products
      5. Rest of Middle East & Africa
        1. By Material
        2. By Products
  7. Company Profile
    1. Amcor plc
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
    2. Sonoco Products Company
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
    3. Mondi
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
  8. Conclusion & Recommendation
  9. Acronyms & Abbreviations


Table of Content and Figure @ https://straitsresearch.com/report/medical-device-packaging-market/toc


Market News

  • In March 2021, Amcor plc joined the Alliance to End Plastic Waste (the Alliance) at the Executive Committee level. This partnership by Amcor was intended to strengthen its commitment to developing its packaging that is recyclable or reusable by 2025 and to improve its recycling infrastructure.

News Media

Top 5 Green Packaging Trends to Watch Out for in 2020

Top 10 Medical Device Companies in the World

Pharmaceutical Companies Focusing on Brand Protection to Drive Track and Trace Solutions Market Growth

Medical Device Testing Market to Offer Lucrative Growth Opportunities to the Players During the Forecast Period


Have a Look at the Related Research Report

Medical Plastic Market: Information by Plastic Type (Commodity Plastic, Engineering Plastic), Application (Medical Device Packaging, Medical Components), and Region — Forecast till 2030

Medical Devices Reimbursement Market: Information by Payer (Public, Private), Healthcare Setting (Hospitals, Outpatient Facilities), and Region — Forecast till 2030

Steerable Medical Devices Market: by Type of Devices (Steerable Balloon Catheterand Steerable needles) and By Application (Electrophysiology and Endoscopy)—Forecast Till 2029

Medical Plastic Market: Information by Plastic Type (Commodity Plastic, Engineering Plastic), Application (Medical Device Packaging, Medical Components), and Region — Forecast till 2030

Active Implantable Medical Devices Market: Information by Product (Implantable Cardioverter Defibrillators) End User and Regional Outlook — Forecast Till 2026


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