Medical Device Packaging Market

Medical Device Packaging Market Overview

The Medical Device Packaging Market Size was valued at USD 39.61 billion in 2023. The Medical Device Packaging industry is projected to grow from USD 42.40 Billion in 2024 to USD 74.47 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.29% during the forecast period (2024 - 2032). Packaging as a process includes all the functions related to designing and developing the outer covering for a product. The product is a bundle of utility so it becomes necessary to pack it in such a material that safeguards it and adds to its quality. Packaging of medical devices becomes important because they are to be preserved in a specialized environment and are not meant to be exposed. Medical devices are preserved in sterile packaging and are handled with care.

Covid19 Analysis

Coronavirus is a highly infectious disease that is majorly attacking people’s respiratory systems. People across the globe are suffering from the covid19. It has adversely affected the functioning of all the industries, except for the pharmaceutical industry. Medical Packaging Market Size saw a boom throughout the last year as there was a rise in the requirement of healthcare products.

More ventilators, testing kits, medicinal drugs, vaccines, and oxygen cylinders are required than they were demanded before the global pandemic. The government of every nation is investing a huge chunk of its financial resources in procuring and manufacturing more medical equipment. This, in turn, increases the Medical Device Packaging Market Share. The market will soon see a boom in its growth.

Competitive Landscape

List of the key companies in the Medical Device Packaging Market are:

• Amcor Limited
• Bemis Company Inc,
• Chesapeake Limited
• I. du Pont de Nemours and Company
• Klöckner Pentaplast Group
• 3M Company
• WestRock Company
• Mitsubishi Chemical Holdings Corporation
• Oliver-Tolas
• Sonoco Products Company
• Berry Global Inc.
• Tekni-Plex.
• Aphena Pharma Solutions.
• CLONDALKIN GROUP
• SIGMA MEDICAL SUPPLIES CORP.
• TOPPAN PRINTING CO., LTD.

The above-listed companies come together in joint venture, mergers and, acquisitions to make new technological advances in medical device packaging techniques. Their main objective is to deliver services that are cost-effective, hassle-free in operations, and are of superior quality.

Berry Global Inc., in February 2024 announced that their Health, Hygiene and Specialties Global Nonwovens and Films (HHNF) business would be spun off and merged with Glatfelter Corporation.

The ascending trajectory of sophisticated sterile packaging materials in healthcare has ramped up market growth. For illustration, in September 2023, Pacur, a United States-based packaging company announced that it would employ Eastman’s Easter Renew 6763 to create a thermoformed rigid sterile barrier package which will enable progress towards circular economy. The rising trend of using advanced and sustainable sterile packaging products in healthcare may boost market growth.

Winpak launched the WINSPEED Pouch Stock Program targeted at North American-based medical device manufacturers in March 2024 so that their packing processes become streamlined and expedited. Customers can use this program to access pre-stocked high-end quality medical pouches reducing time spent on waiting for them while expediting their products.

In 2024: Amcor launched new medical device packaging solutions with improved protection and compliance features.

In 2023: West Pharmaceutical Services introduced advanced packaging materials designed for medical device safety and performance.

Medical Device Packaging Market Dynamics

Drivers

Medical Device Packaging Market and the healthcare industry run corollary to each other. As the need for healthcare products is increasing due to widespread infectious and chronic diseases, the Market Value is also increasing. Packaging adds quality and ensures that no spoilage is done to the medical product. As the disposable income is increasing the people are ready to invest more in healthcare products.

Opportunities

The life expectancy has increased several folds which means that there is a large population of elderly people who are to be medically treated. The awareness among people also increases the demand for medical equipment, as they can be easily used in home healthcare. Medical Device Packaging Market Growth and the healthcare industry run corollary to each other. Recyclable and reusable packaging is more demanded in the market as environmental concerns are rising. This also provides an opportunity for innovations.

Restraints

Businesses have to abide by the law of the land and cannot operate outside it. The rigid policies of medical authorities to provide standardized medical devices may hinder the growth of the market globally. This is an obstacle for medical device packaging material manufacturers. The package of medical devices is generally made up of plastic. Minimizing the use of plastic is also a challenge for companies.

Value Chain Analysis

Owing to an unhealthy lifestyle and deteriorating environment the need for more medical facilities arises. The key players in the market are making technological advances regularly to provide safe products to the customers. The packaging design is attractive as well as environment friendly. The price of raw material used for making the packages is fluctuating. The companies strive to make products that are cost-effective and do not increase the product’s final price.

Medical Device Packaging Market Segmentation

The global market of medical device packaging can be divided into various segments. These are: based on the material used, based on product, and based on application.

Based on material

Various materials used in the packaging of medical devices are plastic, paper & paperboard, foils, glass, silicon, and others. A single product is packed in multiple layers using various verities of materials. Plastic is the most commonly used material because of its easy and inexpensive availability as well as due to its flexibility.

Based on product

Different products require different packaging according to their shape, size, and properties. Commonly used packaging products are pouches, clamshell packs, boxes, trays, bags, and others. Pouches are generally used to pack medical equipment, testing kits, and surgical devices. This segment of packaging holds the largest market share.

Based on application

Based on application the market is further subdivided into sterile packaging and non-sterile packaging. Sterile packaging holds the largest market share because the medicines are to be protected from any kind of contamination from the polluted environment. Surgical equipment is also preserved in sterile solutions so that it can be saved from any kind of spoilage.

Regional Analysis

The medical device packaging market size is increasing with every passing day. It is leaving its impression in every corner of the world. The regions involved in Medical Device Packaging Global Market Analysis include America, Europe, Asia-pacific, and the rest of the world.America, which includes the area of North America (the US and Canada) and Latin America, holds the largest market share. This owns to the innovation and technological advancements in the healthcare sector. The rise in the awareness of people and stringent rules of medical authorities is also changing the medical device packaging marketThe European region, which includes Germany, UK, France, Russia, and Italy, is rising tremendously because of heavy investment in Research & Development projects in the medical sector.Asia-Pacific region, which includes China, Japan, India, Australia, and South Korea, provides a huge market for both consumptions as well as production of medical device packaging material. This is due to the availability of cheap resources, inexpensive labor, and a rise in population. The government of these nations is investing extensively in the medical infrastructure.The rest of the world, which includes the region of the Middle East and Africa, is showing a constant but slow growth because of the limited resources with the government and lack of awareness among the general public.

Recent Developments

Various developments that are found in Medical Device Packaging Market Outlook are as follows:

In April 2024, STERIS Life Sciences launched Verafit Sterilization Bags that are in line with recently updated EU GMP Annex 1 compliance. The distinctive design helps biopharmaceutical manufacturers comply with the newest EU GMP Annex 1 requirements for verifying that a drying step occurs during sterilization cycle validation. This development enhances the overall quality of the company’s sterilization bags and wraps, which offer a user-friendly, reliable means of packaging goods whilst maintaining sterility.

In January 2024, global microbiology solutions provider Cherwell announced its Redipor Beta Bag as an industry-first product. This innovative multiple-use plastic bag could potentially reduce risks, costs and time associated with environmental monitoring (EM) programs while continuously producing sterile medicinal products. Validation of the newly introduced transfer bags has been performed exhaustively, and they have been designed to work seamlessly with isolators and RABS systems using 190mm Getinge Alpha Ports. Transparent media transfer avoids any interference of contaminants on creditor-plated media, allowing for improved production efficiencies and significantly lower risk.

Amcor revealed in November 2023 that it had launched the next generation of medical laminate solutions. Amcor’s latest breakthrough allows the creation of an all-film package that is recyclable within polyethylene streams. With this new approach, one can reduce the carbon footprint of the final package while keeping device performance requirements – thus allowing medical companies to move towards their sustainable targets without endangering patients’ lives.

Sonoco Products Company collaborated with Dyecor Limited, a privately held company in the United Kingdom, in October 2023 to develop new packaging technology for North American and European markets. The joint venture between Sonoco (50.1%) and Dyecor (49.9%) will initially concentrate on shipping containers for clinical samples developed by both firms. This new product category and other potential uses can be fundamental in driving further expansion opportunities within the expanding medical packaging market.

Report Overview

This market research report of Medical Device Packaging Market Trends includes the following elements:

• Medical Device Packaging Market Overview
• COVID19 Analysis
• Medical Device Packaging Market Dynamics
• Medical Device Packaging Value Chain Analysis
• Medical Device Packaging Market Segmentation
• Regional Analysis
• Competitive Landscape
• Recent Developments
• Medical Device Packaging Companies

This research report, on the global market of medical device packaging material, provides a thorough analysis of its application and its market trends.  Packaging of medical devices becomes important because they are to be preserved in a specialized environment and are not meant to be exposed. Medical Device Packaging Market and healthcare industry run corollary to each other. America holds the largest market share. This owns to the innovation and technological advancements in the healthcare sector.