Medical Device Packaging Materials 2021: Demand, Overview, Price, Business Opportunities

Medical Device Packaging Market – Market Overview

Medical device packaging design is an integral part of delivering device to market safely and securely, with the sterile barrier intact. Medical device packaging allow its contents to be sterilized and then must maintain that sterility until the time of use, all while optimally balancing the multitude of considerations that are part of the package development process. Types include bags, overwraps, pouches, trays, and clamshells comprising a variety of medical device packaging materials, some flexible, others rigid.

Some of the major factors driving the market for medical device packaging market are expanding medical device packaging market, growing need of flexible packaging for the medical device packaging market, and increasing innovative products such as child resistant and tamper evident packaging are fuelling the growth of this market. Increasing healthcare expenditures along with growing health awareness among aging population may drive industry growth. Rising environmental concerns and providing better microbial packing may boost the sterile therapeutic packing, thereby enhancing the medical device packaging market growth. Rising demand from the health care sector, usage of reliable packing and growing aging population may fuel product demand. Availability of new products in the field of biopharmaceutical and biologics supported by requirements for better compliance may drive industry growth. Furthermore, growing complexities in product engineering coupled with increasing number of entrant manufacturers are expected to propel the medical device outsourcing industry with lucrative growth opportunities.

Accrediting the colossal growth the Medical Device Packaging market is witnessing currently and the potential the market is demonstrating to accrue pervasively further in the years to come; the Market Research Future has recently published a meticulous study report giving out the complete market insight up till 2023. According to which, continuing with the same trends the global Medical Device Packaging market is projected to perceive an outstanding growth by 2023 registering a striking CAGR during the anticipated period (2017 – 2023).

Medical Device Packaging Market – Segmentations

The medical device packaging market report is segmented into material, product, and region. The material segment is sub-segmented into plastic, paper paperboard, and others. The product segment is sub-segmented into pouches, trays, bags, clamshell packs, and others. By regions, the market is sub-segmented into Asia Pacific, Americas, Europe, and rest-of-the-world.

Medical Device Packaging Market – Regional Analysis

North America leads the global medical device packaging market. Factors such as the regulatory forces raising packaging quality and functionality and rising numbers of medical device companies create substantial market demand. The US accounted for the largest market for medical packaging in the region. The North American medical device packaging market is expected to retain its dominance throughout the forecast period, expanding at a substantial CAGR.

The Asia Pacific region is showing a rapid growth in medical device packaging due to ample availability of raw materials and cost-competitive workforces. Besides, the rapidly growing healthcare and medical device sector in the region drives the market's growth. The pharmaceutical industry also contributes to the growth of the medical device packaging market with high demand for packaging. The APAC medical device packaging market is also expected to grow at a considerable CAGR from 2016 to 2022.

Industry Overview:

The major factors driving the growth of this market are the increased demand of flexible packaging, growing medical device market, increasing importance of packaging for medical device, increase in demand for innovative products such as child resistant and tamper evident packaging are fuelling the growth of the medical device packaging market. On the other hand, stringent government regulations may hinder the growth of the market.

The industry is facing huge pressure to decrease the cost as the end-use industries are mainly focusing towards product innovation by investing in the RD. Companies are forming strategic alliances in order to reduce product costs. Intensifying healthcare costs may create multiple competition which will weaken the overall production and increase price sensitivity to packing cost thereby affecting medical device packaging market price trend.

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