Industry Analysis of Medical Device Packaging in Southeast Asia

Analytical Study of Medical Device Packaging in Southeast Asia from 2023 to 2033

The adoption of medical device packaging in Southeast Asia is expected to grow at a CAGR of 5.6%. The medical device packaging space is projected to increase from US$ 2,022 million in 2023 to US$ 3,477 million by 2033. Southeast Asia's medical device packaging sales were valued at US$ 1,911 million in 2022, and are anticipated to exhibit Y-o-Y growth of 5.6% in 2023.

Bags and pouches in packaging format are set to grow by 4.7% CAGR from 2023 to 2033, with an estimated value of US$ 355.9 million as of 2023. The surgical devices by application segment held about 12% in 2023 within Southeast Asia. The plastic part, with an estimated share of 62.4%, has a significant valuation within the material type category and is projected to expand at a CAGR of 5.0% through 2033.

Southeast Asia medical device packaging demand is expected to experience a lucrative growth outlook during the forecast period. A new estimation predicts that sales will rise during 2023 to 2033 and is projected to generate an attractive financial opportunity of US$ 1,567 million. It is predicted to expand 1.8x times the current value through 2033.

Medical supplies, surgical instruments and implants, medical electrical equipment, in vitro diagnostic reagents and equipment, irradiation equipment, and other dental tools are vital products that require medical-grade packaging. Unhealthy lifestyles have led to high rates of chronic diseases such as cancer, heart disease, diabetes, stroke, and arthritis in recent years, particularly in industrialized economies. The disorders mentioned above need several medical devices for diagnosis and treatment and contribute to developing the medical devices packaging landscape.

Manufacturers offer products with various technologies, such as peel/seal technology and tampering technology. Manufacturers aim is to provide convenient products and center shot protection. Solutions such as uniquely numbered/serialized 2D barcodes, UV ID codes, holograms, or hidden text printed with security or magnetic inks can provide complete protection.

Attributes	Key Insights
Southeast Asia Medical Device Packaging Sales (2022A)	US$ 1,911 million
Southeast Asia Medical Device Packaging Sales (2023E)	US$ 2,022 million
Projected Southeast Asia Medical Device Packaging Revenue (2033F)	US$ 3,477 million
Value-based CAGR (2023 to 2033)	5.6%

Historic Performance of Southeast Asia Medical Device Packaging Sales

The medical device packaging ecosystem in Southeast Asia witnessed a CAGR of 4.6% during the historical period, reaching a value of US$ 1,911 million in 2022 from US$ 1,594.2 million in 2018. The demand for critical services has steadily grown with coordinated investment in infrastructure, medical services, and professional medical training. This makes for a significant opportunity for life science companies to support aging populations in both developed and emerging economies.

The scale and complexity of these challenges suggest that opportunities for enhancement in healthcare systems from both the public and private sectors will likely emerge. To combat the issue of common but treatable health issues, governments play a critical role in increasing the knowledge of and accessibility to health treatments and tools.

In 2018, the Delhi Declaration on Improving Access to Essential Medical Products and the Region's Flagship priority program agreed on achieving universal health coverage. The WHO Southeast Asia chapter is committed to ensuring universal access to safe, effective, affordable, and high-quality medical products for all.

Efforts to minimize risks and dependency and enhance domestic output are ongoing to construct resilient supply chains. Southeast Asia region member countries were actively involved in global consultations that resulted in the passage of crucial World Health Assembly resolutions concerning this topic.

Southeast Asian countries, particularly Thailand and Singapore, have become prime destinations for medical tourism owing to affordable treatments and the availability of complete healthcare under one roof. More patients from developed and emerging economies have traveled to these countries for medical treatments, combining a holiday with an executive check-up or surgery.

Hospitals in these countries have advanced significantly in several medical specialties, including robotic endoscopic coronary bypass surgery, minimally invasive surgery, and heart surgery. This is because of improvements in regional invasive and non-invasive medical technologies, which are predicted to rise in this space.

Government Initiatives to Bolster Local Development of Medical Devices

The development of medical devices in the region is still in its infancy despite the frequent steps governments in Southeast Asia economies have taken to foster local innovation. For instance, the government of Thailand is attempting to boost research and development activity in the medical device sector as part of the new Thailand 4.0 development model by establishing an Intellectual Property Innovation-Driven Entrepreneurship Center (IPI-DE).

The center keeps a database of data and patent details available to small and medium-sized businesses (SMEs) working on any new technology. As a result, the Thai government aims to encourage Thai medical device firms to innovate and expand across domestic and foreign economies.

Latest Trends, Hindrances, and Opportunities Influencing Demand for Medical Device Packaging in Southeast Asia

Attributes	Key Factors
Latest Trends	Demand for aseptic packaging increases: The focus on infection control and aseptic packaging clarifications for medical devices has driven the need for advanced packaging materials and methods. Regulatory compliance and standardization: Compliance with strict regulatory standards for medical device packaging is essential. Compliance with local and global regulations safeguards the safety and efficiency of medical devices. Increasing population aging and health care needs: The aging population in Southeast Asia is leading to an increasing demand for medical devices, and therefore, medical device packaging solutions meet the exclusive needs of this demographic. Packaging solutions on request: Manufacturers offer modified packaging solutions to meet the detailed requirements of diverse types of medical devices, comprising size, shape, and sterility. Sustainable packaging practices: There is an increasing focus on sustainable and environmentally friendly packaging solutions. Manufacturers are discovering materials and designs that decrease ecological impact.
Growth Hindrances	Complying with strict regulations: Meeting the regulatory necessities for medical device packaging can be difficult and expensive. Non-compliance may result in delays in product approval and ecosystem entry. High initial investment costs: Emerging and applying advanced packaging technologies and resources often requires noteworthy initial investments, which can be a barrier for lesser companies or new entrants. Raw material prices increase: Fluctuations in the cost of raw materials, such as resins and specialty coatings, can influence the manufacturing cost of medical device packaging, possibly affecting profit margins. Limited availability of specialized packaging materials: Some advanced packaging resources, such as certain high-performance plastics or specialty coatings, will likely witness high demand, leading to supply chain trials.
Upcoming Opportunities	Increased healthcare spending and demand for medical equipment: Growing healthcare spending and rising demand for medical devices in Southeast Asia present noteworthy growth opportunities for the medical device packaging industry. Aging population needs frequent healthcare: The region's aging population is leading to increased demand for medical equipment. This leads to an increasing demand for specialized and effective packaging solutions. Strict management standards and compliance requirements: The strict regulatory setting for medical device packaging provides opportunities for companies offering packaging solutions that meet regional standards. Technological advances in packaging materials: The growth of advanced packaging materials, such as antibacterial coatings, high-performance plastics, and barrier films, offers opportunities to improve the functionality and quality of medical device packaging.

Comparative View of Adjacent Medical Device Packaging Businesses

The section covers a comparative view of three spaces similar to the Southeast Asia medical device packaging business. As per estimations, the global medical device packaging ecosystem would lead out of the three markets.

Sales of biomedical packaging are set to surge to a valuation of US$ 391.4 million by 2023. Southeast Asia's medical device packaging and the global medical device packaging sales are projected to total US$ 2,022 million and US$ 38.57 billion in 2023.

Southeast Asia Medical Device Packaging Outlook:

Attributes	Southeast Asia Medical Device Packaging Sales
CAGR (2023 to 2033)	5.6%
Value (2023)	US$ 2,022 million
Growth Factor	Changing disease prevalence and rising middle-class knowledge of the importance of early identification and disease prevention.
Key Trend	Demographic trends drive the long-term potential for medical equipment manufacturers.

Medical Device Packaging Outlook:

Attributes	Medical Device Packaging Sales
CAGR (2023 to 2033)	5.4%
Value (2023)	US$ 38.57 billion
Growth Factor	The growing population and increasing socio-economic inclusion in rural heightened manufacturing innovation to create customized products to meet the needs of all income segments.
Key Trend	A trend toward anti-counter fit packaging is fueling the market growth.

Bio-medical Packaging Outlook:

Attributes	Bio-medical Packaging Sales
CAGR (2023 to 2033)	6.4%
Value (2023)	US$ 391.4 million
Growth Factor	As the medical industry's significant investment has resulted in ever-changing technology, a diverse range of bio-medical ecosystem potential has emerged, which ultimately enhances sales.
Key Trend	Manufacturers use product diversity as a critical strategy, investing in diverse packaging solutions such as temperature control kits, bio-bottles, bio-pouches, infectious substance packaging, and more.

Country wise Insight

The table below explains the sales of medical device packaging in Southeast Asia by value and CAGRs of the top 5 countries for 2033. Among them, Malaysia is anticipated to remain at the forefront by registering US$ 746 million. Thailand is expected to secure US$ 429.2 million by 2033, less than Indonesia's US$ 507.9 million.

Countries	Market Value (2033)
Indonesia	US$ 507.9 million
Malaysia	US$ 746 million
Philippines	US$ 413.5 million
Singapore	US$ 318 million
Thailand	US$ 429.2 million
Vietnam	US$ 424.9 million

The table below shows the CAGRs of the top 5 countries for the review period 2023 to 2033. Vietnam and Thailand are expected to remain dominant by exhibiting a CAGR of 8.0% and 6.6%, respectively. Singapore and the Philippines are likely to follow with CAGRs of 6.3% and 5.6%, respectively.

Countries	Value CAGR
Indonesia	3.7%
Malaysia	4.5%
Philippines	5.6%
Singapore	6.3%
Thailand	6.6%
Vietnam	8.0%

High Demand for Critical Care Services to Drive Sales in Singapore

Medical device packaging industry in Singapore is estimated to grow at a CAGR of 6.3% during the forecast period. Singapore is expected to lead the Southeast Asia medical device packaging sales over the forecast period, generating revenue of US$ 318 million by 2033.

According to the Economic Development Board of Singapore, Singapore's aging population and increasing demand for quality healthcare services, vital research and development capabilities, and innovation ecosystem fuel demand in Singapore. As the demand for critical services increases with coordinated investment in infrastructure, medical services, and professional medical training, life science companies have a significant opportunity. There is also a considerable scope to support the emerging industries.

The scale and complexity of these challenges suggest that there may be opportunities for enhancement in healthcare systems from both the public and private sectors. To combat the issue of common but treatable health issues, governments play a critical role in increasing the knowledge of and accessibility to health treatments and tools.

Improving Healthcare Infrastructure in Indonesia Pushing Demand

Medical device packaging industry in Indonesia is estimated to grow at a CAGR of 3.7% during the forecast period. Indonesia medical device packaging sales are projected to create a financial potential worth US$ 166.8 million by 2033.

According to the International Trade Association, increased public awareness of the importance of healthcare, the expansion of public and private hospitals, and the establishment of Indonesia's public health insurance system in 2014 have all resulted in a greater demand for more complex and advanced medical technology. Healthcare is a national priority in Indonesia, and the central and provincial governments continue to create and modernize healthcare facilities.

Indonesia now has 2,925 hospitals, with around 63% privately run. Increasing per capita spending on healthcare services, followed by rising healthcare infrastructure in Indonesia and increasing medical tourism, will likely positively impact medical device packaging.

Increasing Research and Development Activities in Malaysia to Augment Revenue

Malaysia is expected to surge at a CAGR of 4.5% by 2033. The country is distinguished by several reputable equipment manufacturing companies functioning locally and globally. Malaysia is a leading exporter of medical equipment worldwide and is in the lead of medical technology innovation and development. Due to these aspects, the demand for medical packaging in the country is projected to increase.

Malaysia holds the leading share due to its strength in the healthcare industry and many units operating in the healthcare sector. It has a competitive benefit in equipment, software development, technology, and high investment in research and development, leading to increased medical device production volumes. Due to Malaysia’s economic growth, a lot of investments are pouring into the healthcare sector.

Category-wise Insights

The table below signifies leading sub-categories under packaging format and application type categories in the medical device packaging in Southeast Asia segment. Bags and pouches are expected to dominate by exhibiting a 4.7% CAGR in the evaluation period. Under the application type segment, the disposable medical supplies category is projected to lead at a 5.8% CAGR.

Category	Forecast CAGR (2023 to 2033)
Bags and Pouches (Packaging Format)	4.7%
Disposable Medical Supplies (Application Type)	5.8%

Bags and Pouches to Remain the Preferred Packaging Format

In terms of packaging, the bags and pouches segment is predicted to lead medical device packaging industry in Southeast Asia in the forecast period, offering a definite financial opportunity of US$ 224.4 million by 2033. Bags and pouches in medical device packaging provide a barrier against contamination, ensuring that the medical device remains sterile until it is ready to be used.

Medical sector players prefer these bags and pouches since they are made of a sterile, durable, and flexible material, which is highly important in this sector. They are renowned to be able to withstand rigorous sterilization processes and package small, medium, and large medical devices efficiently. The high product-to-package and small size ratio allow for easy handling and storage of medical devices, another factor driving their high sales. Manufacturers in this domain are focusing on creating bags and pouches from suitable materials, such as PET and LLDPE, to better enable protection from light, moisture, and gases.

Disposable Medical Supplies Packaging to Become the Leading Application

The disposable medical supplies segment under application is estimated to generate high demand for medical device packaging solutions in Southeast Asia. The same segment is anticipated to create a potential financial opening worth US$ 1,167 million by 2033.

The increasing need for disposable medical products is significantly driving sales expansion. Instead of reusable devices, end customers choose disposable medical equipment such as disposable anesthesia face masks. Disposable medical supplies help to keep diseases away. Medical disposable materials are less likely to spread infections than reusable medical equipment. When compared to reusable equipment, disposable gadgets are more cost-effective and efficient.

Due to the growing emphasis on maintaining hygiene and protecting the health of hospital staff and patients, the use of reusable medical equipment, such as masks and gloves, in medical centers has expanded. The increased focus of hospitals on accomplishing legal requirements is driving the demand for reusable medical equipment such as disposable needles, syringes, masks, drapes, and gowns. As a result, the industry for disposable medical supplies is rising.

Competitive Landscape

Manufacturers in the medical device packaging domain prioritize expanding their production capabilities in response to the rising demand in Southeast Asia. Furthermore, these key players are diversifying their product offerings to address the expanding segment for medical device packaging in Southeast Asia.

Key companies acquire other corporations to expand their product portfolio and surge their production capacity. The occurrence of globally renowned public companies is likely to lead to an increase in mergers and acquisitions cases as private and smaller companies cannot compete with companies in international markets regarding revenue generation.

For instance,

• In June 2023, Applied Materials announced a US$ 4 billion investment in the EPIC research and development Collaboration Center.
• In January 2023, Amcor acquired MDK to expand its medical device packaging collection in the Asia Pacific.
• In January 2023, TriMas announced the acquisition of Aarts Packaging B.V., a reputable and innovative provider of packaging solutions to significant lifestyle and beauty brands and their customers, and finally, food and life sciences.
• In April 2022, Huhtamaki introduced the Push Tab® blister lid, a mono-material and aluminium-free PET blister lidding that is a sustainable innovation for the worldwide pharmaceutical and healthcare industry.
• In August 2021, PAXXUS introduced AccuPierceTM, a pierceable, chemically-resistant aluminum foil designed for diagnostic purposes and employed as the device's lidding component.

Some of the Key Players in Medical Device Packaging Industry in Southeast Asia

• Huhtamaki Oyj
• WestRock Company
• Berry Global, Inc.
• Tekni-Plex, Inc.
• DuPont Inc
• Graphic Packaging International, Inc.
• Amcor Plc
• Sonoco Products Company
• Amcor plc
• Berry Southeast Asia, Inc.
• Huhtamaki Oyj
• PAXXUS PTE LTD
• Graphic Packaging International, Inc.
• DuPont Inc
• Steripack Group
• ZACROS Group
• Tekni-Plex, Inc.
• Stora Enso Oyj
• WestRock Company
• Constantia Flexibles Group GmbH

Scope of Report

Attribute	Details
Estimated Southeast Asia Medical Device Packaging Size (2023)	US$ 2,022 million
Projected Southeast Asia Medical Device Packaging Valuation (2033)	US$ 3,477 million
Value-based CAGR (2023 to 2033)	5.6%
Historical Data	2018 to 2022
Forecast Period	2023 to 2033
Quantitative Units	Revenue in US$ Million, Volume in Tonnes, and CAGR from 2023 to 2033
Report Coverage	Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis
Segments Covered	Material Packaging Format Class Application Region
Key Countries Covered	Indonesia Malaysia Philippines Singapore Thailand Vietnam Myanmar Cambodia Brunei Timor-Leste Laos Indonesia
Key Companies Profiled	Huhtamaki Oyj WestRock Company Berry Global, Inc. Tekni-Plex, Inc. DuPont Inc Graphic Packaging International, Inc. Amcor Plc Sonoco Products Company Amcor plc Berry Southeast Asia, Inc. Huhtamaki Oyj PAXXUS PTE LTD Graphic Packaging International, Inc. DuPont Inc Steripack Group ZACROS Group Tekni-Plex, Inc. Stora Enso Oyj WestRock Company Constantia Flexibles Group GmbH

Southeast Asia Medical Device Packaging Segmentation by Category

By Material:

• Plastic
  • PE
  • PP
  • PET
  • PVC
  • Bioplastics
  • Others (PA, EVOH)
• Aluminum
• Glass
• Tyvek
• Paper & Paperboard
  • Coated
  • Uncoated
• Others (Fabric, Silicon, Etc.)

By Packaging Format:

• Bags & Pouches
• Films & Wraps
• Lids
• Rollstock
  • Top and Bottom
  • Forming Webs
• Containers
• Trays
• Stick Packs
• Clamshell
• Blister Packs
• Boxes
• Others

By Class:

• Medial Class 2
• Medical Class 3

By Application:

• Surgical Device
• Therapeutic Equipment
• Monitoring & Diagnostic Equipment
• Disposal Medical Supplies
  • IV Catheters
  • IV Sets
  • Syringes
  • Scalp vein sets
  • Drapes
  • Gowns
  • Gloves
  • Wound Care
  • Filter/Tubes

By Country:

• Indonesia
• Malaysia
• Philippines
• Singapore
• Thailand
• Vietnam
• Burma (Myanmar)
• Cambodia
• Brunei
• Timor-Leste
• Laos

Frequently Asked Questions

How big will be the Southeast Asia medical device packaging?

Sales of medical device packaging are expected to surge at a CAGR of 5.6% by 2033.

What was the worth of the Southeast Asia medical device packaging in 2022?

The worth of the ecosystem in 2022 was US$ 1,911 million.

In 2033, what will the industry size be for Southeast Asia medical device packaging?

In 2033, the industry is anticipated to reach US$ 3,477 million.

What is the key driver for the Southeast Asia medical device packaging?

The increasing need for protective packaging against physical damage solutions.

Who are the top 3 players in Southeast Asia medical device packaging?

Top 3 players operating in the ecosystem are Huhtamaki Oyj, WestRock Company, and Berry Global, Inc.

Who are the top 2 leading Southeast Asia medical device packaging countries?

Singapore and Malaysia are the leading countries in the industry.