Global sales revenue of the medical device packaging market is projected to be USD 38.57 billion in 2023. The market is slated to increase at a CAGR of 5.4% to reach a valuation of USD 65.26 billion by 2033.
The global medical device packaging business has witnessed impressive growth over the past few years due to increasing demand from the medical devices sector. This is coupled with growing expenditure on healthcare by key economies. The rising demand for easy-to-use and easy-to-dispose packaging solutions is also contributing to the growth of the global medical device packaging market.
There is a high demand for packaging solutions that maintain the product and the package integrity throughout the cycle. This need for protection is anticipated to play a key role in driving the growth of global medical device packaging.
Due to all these factors, the market is likely to expect a growth rate of 1.05x between 2022 and 2023.
| Attributes | Details |
|---|---|
| Expected Market CAGR (2023 to 2033) | 5.4% |
| Expected Market Size (2023) | USD 38.57 billion |
| Expected Market Size (2033) | USD 65.26 billion |
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Demand for medical device packaging is gaining traction, particularly in the advanced economies of Asia, North America, and Europe. A trend fueling the sales of medical device packaging is the introduction of anti-counterfeit packaging. Also, the market is witnessing a shifting trend of packaging materials from glass to plastics.
| Attributes | Details |
|---|---|
| Market CAGR (2018 to 2022) | 4.7% |
| Market CAGR (2023 to 2033) | 5.4% |
| Market Size (2018) | USD 30.44 billion |
| Market Size (2022) | USD 36.59 billion |
| Market Size (2026) | USD 45.16 billion |
Consumption of global medical device packaging is expected to be pegged at 206 billion units by 2027.
Even though the growth rate is quite moderate, over the long term, it is anticipated that the revenue threshold is likely to rise. In recent years, especially in developed nations, unhealthy lifestyles have contributed to the increasing prevalence of chronic diseases. This includes:
Over the past four years, the adoption of medical devices has grown as a result of the aforementioned disorders. This requires various pieces of medical equipment for diagnosis and treatment.
A sterile environment is created for the contents of medical device packaging, and this sterility must be preserved until the box is opened for use. A medical equipment or surgical instrument must come into contact with a patient's sterile tissue or mucous membranes during all interference operations.
The introduction of harmful germs that could result in infection is a serious concern associated with all such techniques. To avoid a breach of the host defenses, reusable medical equipment must be cleansed or sterilized before use. As a result, a crucial component of the use of medical equipment is the degree of disinfection or sterilization of the object's intended use.
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In 2022, clamshell blister packs held the top market share of 33.8%. Nonetheless, among the various packaging options, bags and pouches represent a significant portion of the worldwide medical device packaging industry. Medical devices can be stored and handled easily thanks to their small size and high product-to-package ratio.
When made using the right materials, such as PET and LLDPE, pouches and bags can shield electronic equipment from gasses, moisture, and light. Medical device packaging and related components must adhere to strict regulations and specifications.
Boxes are expected to have a substantial market throughout the projected period. Since they are frequently used for the secure transportation and packaging of medical devices.
By end users, medical manufacturing dominated the market with a share of 42.% in 2022. However, contract packaging is expected to emerge as a lucrative segment of growth in terms of CAGR.
For instance, MedAccred said in May 2020 that it aims to keep supporting the medical device sector. In the past year, the company has recognized a huge amount of new suppliers and established new audit methods for sterile device packaging and plastics mechanical assembly.
The Medical Manufacturers MedAccred Accreditation Pathway entered its second year. A partnership between the program and the United States Department of Commerce for manufacturers and suppliers seeking accreditation.
Due to its thriving healthcare industry and plenty of organizations serving the sector, North America held the leading share of 31.5% in 2022. The United States enjoys a competitive advantage that leads to high production levels of medical devices.
This relates to the creation of software, the use of instruments, technology, and sizable financial commitments to the field of research and development. Around 29.5% of the North America medical devices packaging market is held by the United States alone.
The interim order regarding the import and sale of medical devices for use regarding COVID-19 in Canada was approved by the Federal Minister of Health in March 2020. By the temporary measure, Health Canada permits the sale of selected products in Canada. Provided that the packaging satisfies all applicable regulations.
| Country | Market Share/CAGR |
|---|---|
| Germany (2022) | 8.1% |
| United Kingdom CAGR (2023 to 2033) | 5.7% |
| Country | CAGR (2023 to 2033) |
|---|---|
| India | 7.5% |
| China | 6.6% |
Asia Pacific is anticipated to experience adequate growth by 2033. China is one of the key markets for medical equipment in the world and a country with significant economic growth in Asia Pacific. The healthcare sector is receiving a lot of investment as a result of China's economic growth. In the upcoming years, it is anticipated that China's healthcare sector is likely to flourish further.
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Leading corporations frequently buy rival businesses to diversify their product offerings and boost production capacity. Throughout the forecast period, there are few new concepts and innovations introduced due to the existence of publicly recognized multinational companies in the market area.
In the struggle against the players on the global market, smaller and privately held companies are far behind in terms of revenue generation. Medical device packaging start-ups must be prepared and adapt to previous and present trends. To make their future business plans if they want to develop a significant market presence.
Key players in the medical device packaging market are continuously susceptible to developments. This is used as a foundation for participating in inorganic or organic forms of expansion.
The medical device packaging market is estimated to be worth USD 38.57 billion in 2023.
The medical device packaging market is expected to have a CAGR of 5.4% during the forecast period.
The medical device packaging market expanded to a share of USD 36.59 billion in 2022.
North America's medical device packaging market is likely to account for a share of 31.5% in 2023.
By 2033, it is anticipated that the medical device packaging sector in the United Kingdom experience a CAGR of 5.7%.
1. Executive Summary | Medical Device Packaging Market 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Packaging Type 5.1. Bags & Pouches 5.2. Containers 5.3. Trays 5.4. Stick Packs 5.5. Clamshell Blister Packs 5.6. Boxes 5.7. Others 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Raw Material 6.1. PE 6.1.1. HDPE 6.1.2. LDPE 6.1.3. LLDPE 6.2. PET 6.3. PP 6.4. PS 6.5. PVC 6.6. Aluminium 6.7. Glass 6.8. Paper Laminates 6.9. Fabric 6.10. Others 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 7.1. Disposable Consumables 7.2. Monitoring & Diagnostic Equipment 7.3. Therapeutic Equipment 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End-user 8.1. Medical Manufacturing 8.2. Contract Packaging 8.3. Others 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 9.1. North America 9.2. Latin America 9.3. Europe 9.4. Asia Pacific 9.5. MEA 10. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Avery Dennison Corporation 17.2. 3M Company 17.3. DuPont de Nemours 17.4. CCL Industries Inc. 17.5. Amcor Limited 17.6. Constantia Flexibles Group GmbH 17.7. Bemis Company, Inc. 17.8. Sonoco Company 17.9. WestRock Company 18. Assumptions & Acronyms Used 19. Research Methodology
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Medical Device Packaging Market
