The medical devices packaging market size was valued at USD 25.67 billion in 2023 and is expected to be worth USD 26.99 billion in 2024. The market is projected to reach USD 41.57 billion by 2032, recording a CAGR of 5.55% during the forecast period.
Medical devices packaging products are widely used in the healthcare industry to offer high protection to the medical instruments against contamination and corrosion caused by the external environment. Various items, such as cartons, boxes, films, trays, and pouches are used in medical packaging. The rising launch of new and innovative medical instruments in the market is one of the major factors boosting the market’s growth.
Fortune Business Insights™ displays this information in a report titled, “Medical Devices Packaging Market, 2024-2032”.
Informational Source:
LIST OF KEY COMPANIES PROFILED IN THE REPORT:
- Amcor (Switzerland)
- 3M Company (U.S.)
- DuPont (U.S.)
- AR Packaging (U.S.)
- Shanghai Jianzhong Medical Packaging Co., Ltd. (China)
- Printpack (U.S)
- Avient Corporation (U.S.)
- Oliver Healthcare Packaging (U.S.)
- Steril Medipac (India)
- Dordan Manufacturing, Inc. (U.S.)
Segmentation:
Plastic-based Medical Packaging Products Gain High Traction Due to Their Better Aesthetics
Based on material, the market is segmented into plastic {Polyethylene (PE), Polyethylene Terephthalate (PET), Polyvinyl Chloride (PVC), Polypropylene (PP), others}, aluminum, paper & paperboard, and others. The plastic segment is dominating the medical devices packaging market share as this material offers improved aesthetics and comes in a variety of forms, from opaque to clear, thereby catering to all kinds of packaging requirements.
Flexibility and Ease of Use Makes Trays Popular Packaging Product Among Medical Device Makers
Based on product type, the market is segmented into boxes & cartons, bags & pouches, trays, clamshells, laminates, films, and others. The tray segment accounts for the biggest market share as this type of packaging has several key properties, such as high flexibility and ease of use. They also offer high resistance against harmful chemicals, microbes, and gas.
Robust Safety Offered by Disposable Consumables Amplifies Their Adoption
Based on application, the market is divided into disposable consumables, therapeutic equipment, and monitoring & diagnostic equipment. The disposable consumables segment has captured the biggest market share as these products are disposed of after a single use, thereby enhancing patient safety considerably.
With respect to region, the market covers North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Report Coverage:
The report has conducted a detailed study of the market and highlighted several critical areas, such as leading product types, materials, applications and key market players. It has also focused on the latest market trends and the key industry developments. Apart from the aforementioned factors, the report has given information on many other factors that have helped the market grow.
Drivers and Restraints:
Rising Demand for Pouches for Packing Medical Instruments to Drive Market Progress
Many medical device manufacturers are opting for pouches to pack their products as they are quite cost-effective and have lesser production lead times as compared to other packaging products. Pouches are majorly used to pack soft, semi-soft, small, and medium-sized medical equipment. They offer sufficient space for the devices, thereby ensuring their safety during transportation as well. These benefits are boosting the demand for pouches to pack medical devices.
However, many governments across the world are implementing strict laws and regulations regarding the inclusion of plastics in medical devices packaging, which can hamper the medical devices packaging market growth.
Regional Insights:
Development of Novel Medical Technologies Helps North America Dominate Global Market
North America has held a dominant position in the global medical devices packaging market as many reputed market players are trying to develop innovative medical technologies and software. The integration of these technologies into medical devices packaging products have made them quite safe and versatile, thereby contributing to the regional market’s growth.
Asia Pacific is also expected to register robust growth as China has a vast medical device market, which is increasing the use of medical device packaging products.
Competitive Landscape:
Key Market Participants to Focus On Launching New Products to Remain Competitive
The market is quite competitive and fragmented as a small number of major players are leading the market’s growth. Some of these companies are launching novel medical device packaging solutions to expand their product portfolios and increase their customer base. These launches will also help them stay ahead of the market competition.
Notable Industry Development:
January 2020 – Sonoco, an eco-friendly and diversified global packaging company, acquired Thermoform Engineered Quality LLC and Plastique Holdings, LTD (together TEQ), a global producer of thermoformed packaging solutions that serves the medical device, healthcare, and consumer markets, from ESCO Technologies, Inc. The total value of the acquisition was USD 187 million, and is expected to help Sonoco expand its distribution network.
