Medical Device Packaging Industry Overview
The global medical device packaging market size is expected to reach USD 48.97 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 6.4% from 2020 to 2028. The market growth is attributed to the growing demand for medical devices, such as surgical implants and instruments, medical supplies, electro-medical equipment, and in-vitro diagnostic equipment. The increasing aging population that requires advanced medical treatments, coupled with the unhealthy lifestyles of people, has been resulting in the high prevalence of chronic diseases.
Medical Device Packaging Market Segmentation
Grand View Research has segmented the global medical device packaging market on the basis of material, product, application, and region:
Based on the Material Insights, the market is segmented into Plastic, Paper Paperboard, Metal, Others.
- Plastic held the largest share of over 60.0% in 2020 and is likely to maintain its position over the forecast period. Plastic emerged as the most widely used material in the market in 2020.
- Various types of plastic include low-density polyethylene (LDPE), linear low-density polyethylene (LLDPE), polypropylene (PP), and polyethylene terephthalate (PET). The aesthetics offered by plastic materials, such as the ability to appear in the range from opaque to clear, increase their applicability in the market.
- Aluminum is the most common metal used in medical device packaging. It is effective against moisture, oxygen, and light; thus, it is majorly used as a foil in medical device packaging. On account of these properties, the demand for aluminum is increasing in medical devices that incorporate pharmaceuticals and biologics.
Based on the Product Insights, the market is segmented into Pouches Bags, Trays, Boxes, Clamshells, Others.
- The pouches and bags segment held the largest share of more than 35.0% in 2020. They effectively pack small, mid-sized, and large medical devices. Their small size and high product-to-package ratio enable easy storage and handling of medical devices.
- Trays come in different formats such as plastic medical trays, medical shipping trays, and medical inspection trays. Trays are more durable for the packaging and shipping of medical parts and machine parts of medical devices.
- Packaging for medical devices and related components is highly regulated and should meet specific requirements. Boxes that are prepared with cardboard are widely used for the safe packaging and transportation of medical devices.
Based on the Application Insights, the market is segmented into Equipment Tools, Devices, IVD, Implants.
- Equipment and tools held the largest share of over 30.0% in 2020. They require flexible packaging with a high degree of sterilization. The majority of the tools come in flexible packaging materials, such as plastic pouches, plastic trays, bags, and clamshells.
- Furthermore, the equipment segment offers medical device packaging solutions for CT scanners, X-ray machines, MRI machines, ultrasound scanners, and many other diagnostic medical devices.
- The in-vitro diagnostic (IVD) application segment is expected to register the fastest CAGR of 7.3% over the forecast period. This growth is attributed to the high adoption of IVDs for testing COVID patients.
- An implantable device is an emerging sector in medical science and secure packaging of such devices is the key component of these life-saving tools. The pandemic severely impacted the aesthetic implants market.
Medical Device Packaging Regional Outlook
- North America
- Europe
- Asia Pacific
- Central South America
- Middle East Africa (MEA)
Key Companies Profile Market Share Insights
Major companies are involved in the acquisition of other companies to expand their product portfolio and increase manufacturing capacity. The presence of internationally renowned public players in the market space is likely to lead to the increased instances of mergers acquisitions over the forecast period, given the inability of smaller and privately held players to compete with the international market participants in terms of revenue generation, regional/global presence, and the establishment of distribution channels.
Some prominent players in the global medical device packaging market include
- Amcor plc
- Sonoco Products Company
- Mondi
- CCL Industries
- Constantia Flexibles
- WestRock Company
- Berry Global Inc.
- Glenroy Inc.
- SteriPack Group
- Riverside Medical Packaging Company Ltd.
Order a free sample PDF of the Medical Device Packaging Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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