Medical Device Packaging Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

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Medical Device Packaging Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

Status : November, 2022 | Medical Devices

Report Digest

Global Medical Device Packaging Market - Overview

The global medical device packaging market is expected to witness a solid growth in the coming years of the forecast period. In recent years, there has been a growing demand for a sterile and more robust packaging of medical devices. Increasing awareness about the safety of medical devices coupled with strict governmental regulations are expected to help the development of the market growth

Global Medical Device Packaging Market - Notable Developments

The competitive landscape of the global medical device packaging market is a fragmented one because of the presence of several key players. These players in the global market are concentrating on developing new and innovative products that will cater to the growing demand of the end users. In addition to this, these leading companies are also opting for aggressive strategies such as new product launches, partnerships, joint ventures, mergers, and takeovers in order to stay ahead of the competitive curve in the global medical device packaging market. Some of the key players in the global medical device packaging market are Amcor Limited, Berry Plastics Pvt. Ltd., and Bemis Company among others.

  • In January 2019, Oliver Inc. announced that the company has successfully acquired CleanCut Technologies, a medical packaging solutions provider. This move is expected to expand the product portfolio of Oliver and help expand its userbase.

Global Medical Device Packaging Market – Drivers and Restraints

There are multiple factors that are driving the growth of the global medical device packaging market. One of the key driving factors for the market growth has been the longer shelf life provided by these medical device packaging. A long series of tests are performed for assessing the packaging integrity and robustness. This is to check the overall performance of the packaging. Such high tests and integrity checks are spreading the reach of the global medical device packaging market. In addition to this, in recent years, there has been a growing prevalence of new types of diseases. This has created the demand for more technologically advanced diagnostic instruments. This is expected to have a direct impact on the development of the global medical device packaging market. Moreover, strict governmental and regulatory guidelines are also prompting and encouraging use of medical device packaging and thus driving the overall market growth.

Global Medical Device Packaging Market – Geographical Outlook

The global medical device packaging market has five key regions that help us in understanding the overall working dynamics of the market. These regions are North America, Latin America, Europe, Asia Pacific, and Middle East and Africa. Of these, currently, the global medical device packaging market is dominated by the regional segment of Europe. The growth of the regional segment is driven due to the presence of strict governmental and regulatory mandates regarding medical packaging. In addition to this, increasing demand for diagnostic equipment, hygiene devices, and rehabilitation products are also helping to push the development of the Europe market. Moreover, the introduction of European packaging standards for terminally sterilized medical equipment has also been a chief driving factor for the development of medical device packaging market in Europe.

On the other hand, the regional segment of Asia Pacific is expected to show a promising growth in the coming years of the forecast period. The presence of emerging economies such as India, Indonesia, and China is expected to present several lucrative business opportunities for the development of the global medical device packaging market. With growing investments for the development of the medical infrastructure, the Asia Pacific region is projected to witness a promising growth in coming years.

Market Segmentation

By Material

  • Plastic
  • Paper
  • Tyvek
  • Aluminium
  • Others Materials

By Product

  • Pouches
  • Trays
  • Boxes
  • Clamshell Packs
  • Blister Packaging
  • Bags
  • Other Products

By Application

  • Sterile Packaging
  • Non - Sterile Packaging

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5-Point Growth Formula

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The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.