Medical Device Packaging Market Outlook
The global demand for medical device packaging Market witnessed a massive downfall in the first half of 2020 on account of lockdown and social distancing barriers implemented due to the spread of coronavirus disease throughout the world. Big as well as small manufacturing companies went through the worst phase and suffered heavy losses in 2020. Looking at the positive side, the sales for medical devices increased as nations across the world are trying to ascertain a desired number of PPE kits and vaccinations. The business firms in 2021 are focusing on research and developments to ensure uniqueness in their services.
Leading companies such as Mitsubishi Chemical Holdings Corporation, DuPont, Amcor Limited, Bemis Company, 3M Company, West Pharmaceutical Services, and others are actively indulged in the adoption of several market strategies like joint ventures, collaborations, partnership agreements, technological advancements, sales agreements, capacity utilizations, innovations, diversifications, geographical expansions etc to ensure improvements in their operations globally.
For instance, 3M company is playing a vital and a very crucial role during the covid times. The 3M scientists are striving hard to get the world outside their homes by standing on three principles- Packaging, Shipping and Fulfillment. 3M’s Scotch® Linerless Rubber Splicing Tape 130C is just one example of the company’s medical device packaging products. From manufacturing respirators during the covid times to getting them delivered safely, 3M made it possible. During the pandemic, 3M also worked with partners to get real-time data to provide a clearer picture of what supplies it had in stock for better alignment with customer demand.
In terms of growth, the US is anticipated to stay ahead at a promising rate during the forecast period owing to government initiatives to provide PPE kits and increased focus on enhanced care. Plastic packaging is in high demand as BIC North America declared to manufacture 2,000 medical-grade face shields on a daily basis. Due to rapid economic developments, the market in Asia Pacific region is projected to grow exponentially.
The medical device packaging market is projected to expand significantly during the assessment period. With the advent of IoT in healthcare systems, it assists in tracking every medicine package, record the medication activity such as capsule, and provide all prescription data concerning patients.
The growth of I2Pack (Intelligent and Interactive Packaging) is an appropriate format for smart devices. The I2Pack is the next-gen medical packaging that could interact with consumers by communicating, energy harvesting, sensing, integrating RFID, and other functions over conventional packaging mediums.
The information drawn and supported by the packaging will shift from static to dynamic, the information flow will change from single-directional (product-to-consumer only) to dual-directional (both consumer-to-producer and product-to-consumer) thus, the I2Pack could be assigned more accountabilities along with the protecting and containing goods.
Several new players in the market are engaged in innovating smart and economical ways of labeling medical devices. For instance,
CleanCut Technologies' Vault packaging system for devices are apt for tray-style packaging. These technologies reduce their validation time and eventually achieve smaller batch packages, corresponding to consumers' prerequisites. Forging, an apparent problem in medical devices is likely to promote the usage of RFID and NFC tags on the packaging materials.
As COVID -19 pandemic grips all over the world, several nations are still scrambling to ascertain the volume of PPE required to keep up with the virus spread. To assist the frontline workers, BIC North America declared to manufacture 2,000 medical-grade face shields on a daily basis at its industrial unit in Milford. The face shields, endorsed by the FDA together with Level 1 medical devices, are all prepared for materials typically utilized in the packaging (plastic) or will otherwise be trash from materials utilized in the lighters. Moreover, the shields are intended so the plastic could be sterilized and removed by the hospitals, instead of disposed of.
Key factors influencing Medical Device Packaging Marke Growth
Medical Devices Packaging Manufactures to Target Developed Countries
Healthcare and pharmaceutical expenditure has increased in the past few years in the developed countries of North America and European regions, with the U.S. accounting for the highest at around 15% as a share of its GDP. According to World Health Organization, global healthcare expenditure by all the countries as a share of their GDP, ranges from 5% to 15%, offering substantial opportunity for medical device packaging Market manufacturers.
Advanced healthcare facilities are available in the countries such as the U.S., Germany, the U.K., Russia, China, Japan, which includes ambulatory surgical centers, clinics and medical offices, orthopedic, and other rehabilitation centers, and urgent care centers. Thus, medical device packaging manufacturers can target these highly progressive countries to become part of this multi-billion dollar and fast-growing market.
Opportunity from Contract Packaging Companies
The medical device packaging market is expected to create significant growth and investment opportunities for players operating in the market. Moreover, the contract packaging end-use segment is expected to stimulate the sales of medical device packaging globally by the end of 2027.
Contracting with local company helps manufacturers lower the operational cost. Packaging companies can benefit from better pricing by outsourcing medical device packaging. Overall run time cost and transportation and logistics cost is reduced to greater extent. All these factors are likely to bolster the medical device packaging market during the forecast period.
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Plastics to Dominate Medical Device Packaging Market
Growing demand for easy-to-use and easy-to-dispose packaging solutions contributes to the growth of the global medical device packaging market. There is a high demand for packaging solutions that maintain the integrity of the package, which includes very crucial and fragile implants, instruments, and equipment, throughout the supply chain.
Medical device packaging uses plastic as the biggest raw material source which includes all types of plastics from Polyethylene (PE), Polyethylene terephthalate (PET), PP (Polypropylene), PS(Polystyrene), to polyvinyl chloride (PVC) due to their lightweight and sturdy nature. The same segment is also anticipated to witness massive demand in the upcoming period as it ensures proper safety of medical devices against vibration, shock, and bursting. This need for protection is anticipated to play a key role in driving the growth of the global medical device packaging.
High Regulatory Standards and Handling Issues to Hamper Market Growth
Globally, there are stringent rules and regulations enforced by governmental organizations associated with medical device packaging and its careful handling, which acts as a limitation to the growth of the global medical device packaging market.
The U.S. Food and Drugs Administration (FDA) developed some standard test methods to ensure safe medical device packaging includes determination of leaks, performance testing of shipping containers, seal strength of flexible barrier materials, integrity testing of porous barrier medical packages and the list goes on. Improperly designed and validated packaging cannot meet these standards, which can derail the product launch and affect the company’s reputation. Moreover, some of the medical device packaging formats require special care and handling while transportation as their shape is very unstable, which may cause damage to the product.
Medical Device Packaging Market: Structure Analysis
The medical device packaging market is relatively large, and a significant portion is already captured by big players. Thus, small & newly-entered companies are struggling in this competitive market. Individual strategies followed by these market players in terms of improving their product portfolios, creating new marketing strategies, and acquisitions and mergers in the medical device packaging market, have been elaborated in this report.
Amcor PLC, Bemis Company, Inc., Constantia Flexibles Group GmbH, Sonoco Products Company, Sealed Air Corporation, Wipak Group, Mondi PLC, West Pharmaceutical Services, Inc., Huhtamaki Oyo, Ampac Holdings LLC, and Glenroy, Inc. are some of the leading manufacturers in the medical device packaging market.
- Introduction of anti-counterfeit packaging and a shift from glass to plastic packaging materials are current trends in the medical device packaging market.
- Demand for sustainable solutions from eco-conscious consumers is anticipated to change the dynamics of the medical device packaging market.
Medical Device Packaging Market Report Scope
Historical Data Available for
US$ Mn for Value and Mn Units for Volume
Key Regions Covered
North America, Europe, Latin America, East Asia, South Asia, Oceania, and Middle East & Africa (MEA)
Key Countries Covered
U.S, Canada, Mexico, Brazil, Peru, Chile, Poland, Germany, Italy, Spain, United Kingdom, Nordic Region, Benelux, Rest of Europe, China, India, Japan, Korea, Indonesia, Malaysia, Singapore, Taiwan, Thailand, Rest of South Asia, Australia, New Zealand, GCC, Turkey, South Africa, and Rest of MEA
Key Segments Covered
Packaging type, Raw Material, Application, End User and Region
Key Companies Profiled
Market Overview, Key Market Trends, Key Success Factors, Demand Analysis, Market Background, COVID-19 Analysis, Segmental Analysis, Regional Profiling, Market Structure & Competition Analysis
Customization & Pricing
Medical Device Packaging Market: Segmentation
The global medical device packaging market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to readers.
- Bags & Pouches
- Stick Packs
- Clamshell Blister Packs
- Others ( Flow Wraps etc.)
- Paper Laminates
- Others (PLA, PHA etc.)
- Disposable Consumables
- Monitoring & Diagnostic Equipment
- Therapeutic Equipment
- Medical Manufacturing
- Contract Packaging
- North America
- Latin America
- Western Europe
- Eastern Europe
- Middle East & Africa
- Asia Pacific excluding Japan