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 USD 2,022 million in 2023 to USD 3,477 million by 2033. Southeast Asia's medical device packaging sales were valued at USD 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 USD 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 USD 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) | USD 1,911 million |
| Southeast Asia Medical Device Packaging Sales (2023E) | USD 2,022 million |
| Projected Southeast Asia Medical Device Packaging Revenue (2033F) | USD 3,477 million |
| Value-based CAGR (2023 to 2033) | 5.6% |
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The medical device packaging ecosystem in Southeast Asia witnessed a CAGR of 4.6% during the historical period, reaching a value of USD 1,911 million in 2022 from USD 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.
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.
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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 USD 746 million. Thailand is expected to secure USD 429.2 million by 2033, less than Indonesia's USD 507.9 million.
| Countries | Market Value (2033) |
|---|---|
| Indonesia | USD 507.9 million |
| Malaysia | USD 746 million |
| Philippines | USD 413.5 million |
| Singapore | USD 318 million |
| Thailand | USD 429.2 million |
| Vietnam | USD 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% |
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 USD 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.
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 USD 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.
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.
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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% |
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 USD 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.
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 USD 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.
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,
| Attribute | Details |
|---|---|
| Estimated Southeast Asia Medical Device Packaging Size (2023) | USD 2,022 million |
| Projected Southeast Asia Medical Device Packaging Valuation (2033) | USD 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 USD 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 |
| 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 |
Sales of medical device packaging are expected to surge at a CAGR of 5.6% by 2033.
The worth of the ecosystem in 2022 was USD 1,911 million.
In 2033, the industry is anticipated to reach USD 3,477 million.
The increasing need for protective packaging against physical damage solutions.
Top 3 players operating in the ecosystem are Huhtamaki Oyj, WestRock Company, and Berry Global, Inc.
Singapore and Malaysia are the leading countries in the industry.
| Market Value (2023) | USD 391.45 million |
|---|---|
| Market Anticipated Forecast Value (2033) | USD 727.35 million |
| Market Projected Growth Rate (2023 to 2033) | 6.4% |
| Expected Market CAGR (2023 to 2033) | 5.4% |
|---|---|
| Expected Market Size (2023) | USD 38.57 billion |
| Expected Market Size (2033) | USD 65.26 billion |
| Market Valuation (2023) | USD 12,409.8 million |
|---|---|
| Market Valuation (2033) | USD 20,914 million |
| Market CAGR (2023 to 2033) | 6.1% |
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Industry Analysis of Medical Device Packaging in Southeast Asia
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