| A02616 | Pages: 217 | Aug 2021 | 10979 Views | ||
| Author(s) : Smita Nerkar , Onkar Sumant | Tables: 131 | Charts: 48 |
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Medical Device Packaging Market
Request Now !The global medical device packaging market size was valued at $ 22,097.10 Million in 2020, and is projected to reach $ 47,117.70 Million by 2030 registering a CAGR of 7.50% from 2021 to 2030. For a medical device, protection is necessary by maintaining package integrity, usually, proper packaging is required for medical devices to avoid physical damage, biological contamination, and any other external disturbance. Furthermore, other motive of packaging is the proper identification of the device by means of labeling. In addition, medical device packaging is an important factor to place a device in the market safe and secured during its shelf life. Packaging performs protection and communication with the environment, humans, and vice versa.
Factors such as technological developments in the medical device industry, introduction of several advanced medical devices that require specialized packaging, and increased demand for innovative packaging solutions due to increased production and supply of medical devices, medicines, and drugs across the globe, which further drive the market growth. In addition, increase in spending on healthcare services, owing to rise in health awareness also boost the medical device packaging market growth. However, strict rules & regulations imposed by governments across the globe, which hampers growth of the global market. In addition, increase in need for sterile packaged, tamper-proof, and nonreactive products with great performance & reduced total cost of ownership boost technological advancements in the global medical device packaging market, thereby creating huge opportunities for growth of the market during the forecast period.
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Outbreak of COVID-19 has disrupted workflows in the healthcare sector worldwide. The disease has forced an increased number of industries to shut their doors temporarily. Sector that is drastically affected include several sub-domains of healthcare. Moreover, there has also been a moderate effect on medical devices and supplies segment, including the medical device packaging market. Owing to the pandemic, healthcare workers, equipment, and facilities have been converged together toward the same direction such that they can help to cope with rise in number of patients having COVID-19.
Various other surgical practices have been significantly impacted with all specialties writing guidelines for how to manage during this crisis, negatively impacting the medical device packaging market during the current scenario. Rapid spread of COVID-19 around the world with over 4.5 million cases and over 300,000 deaths has brought new challenges for the international medical device supplying community. In addition, lesser number of hospital beds increased demand for self-monitoring health devices, hence positively impacting the medical devices packaging market during the forecast period.
Pandemic led to a positive growth in demand for medical devices such as respirators, ventilators, oximeters, and other medical devices supporting in the management of disease affecting the respiratory tract. Thus, increase in use of medical devices further drive the market growth as these require packaging. However, banned import and export of goods further affects the medical device packaging market negatively.
The global medical device packaging market segmented on the basis of material type, product type, application, and region. On the basis of material type, it is further classified into plastic, paper & paperboard, foils, glass, and others. By product type, it is divided into pouches, clamshell packs, boxes, bags, blisters and others. Based on application, it is categorized into sterile packaging and non-sterile packaging. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
On the basis of product type, the pouches segment accounted for the largest share of the medical device packaging market in 2020, owing to widely used containers for small- to medium-sized soft and semi-soft medical goods sold in unit quantities and are not vulnerable to damage during shipment and storage. Pouche specific applications include intravenous (IV) catheters, IV administration sets, dialysis disconnect caps, wound dressings, small surgical instruments, diagnostic test packs, sutures, and dental supplies.
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By application, the sterile packaging application segment is expected to have the highest growth rate during the forecast period as it avoids contamination as well as protects them from physical damage. In addition, sterile packaging is used for medical devices where it is of utmost importance to maintain their sterile condition during storage and transportation. Thus, various factors such as packaging material, package integrity, and quality of seals among others should be considered for sterile packaging.
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North America is projected to account for a major share of the global medical device packaging market during the forecast period. The market in the region is anticipated to grow in the future, owing to developed countries, with prosperous economies, aging population, and advanced medical delivery systems. Further, countries vary large population size, increase in healthcare spending intensities, aggregate gross domestic product (GDP) levels, and structure of health insurance plans boost the market growth. In addition, with advanced primary medical community, extensive medical and life science research activities, high healthcare spending intensity, and large pharmaceutical and medical supply and device industries also propels the market in upcoming years.
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List Of Key Companies
Key Benefits For Stakeholders
By Material Type
By Product Type
By Application
By Region
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Medical device packaging market growth includes aging population, coupled with growing investments in the healthcare sector, especially in several emerging countries is projected to augment demand for medical devices, which is expected to drive demand for medical device packaging during the forecast period. Furthermore, increase in focus of packaging companies on providing sustainable and cost-effective packaging for medical devices is further anticipated to propel the market growth.
North America is expected to account for the largest share in the market. Growth is largely driven by the U.S., owing to presence of a large number of medical device companies, coupled rapid innovations in the medical device industry which is expected to favor the market. In addition, medical devices are also exported to several countries, which is further anticipated to fuel the market growth.
A. Rapid advancement in the technology involved in medical devices coupled with introduction of new and innovation medical devices require specialized and smart packing solutions will also drive the market growth.
A. North America is projected to account for a major share of the global medical device packaging market during the forecast period. The market in the region is anticipated to grow in the future, owing to developed countries, with prosperous economies, aging population segments, and advanced medical delivery systems. Further, countries vary large population size, increase in healthcare spending intensities, aggregate gross domestic product (GDP) levels, and the structure of health insurance plans will boost the market growth.
A. Top companies such as 3M Company, Amcor Limited, Berry Global Inc., CCL industries INC., Constantia Flexibles, DuPont, Klöckner Pentaplast Group, Mitsubishi Chemical Holdings Corporation, WestRock Company, and Sonoco Products Company held a high market position in 2020.
A. The total market value of Medical Device Packaging market is $22,097.10 million in 2020.
A. Based on product type, the pouches segment accounted for the largest share of the medical device packaging market in 2020, owing to widely used containers for small- to medium-sized soft and semi-soft medical goods sold in unit quantities and are not vulnerable to damage during shipment and storage.
A. The forcast period for Medical Device Packaging market is 2021 to 2030
A. The market value of Medical Device Packaging market in 2021 is $24,642.10 million.
A. The base year is 2020 in Medical Device Packaging market
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