Medical Device Packaging Market Size, Share & Trends Analysis Report By Material (Plastic, Metal), By Product (Pouches & Bags, Boxes), By Application (Equipment & Tools, IVD) - Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2021-2027

The global Medical Device Packaging market gathered revenue around USD 30.12 Billion in 2020 and market is set to grow USD 49.25 Billion by the end of 2027 and is estimated to expand at a modest CAGR of 6.9% during the prediction period 2021 to 2027.

Report Coverage

Growth Factors:

The medical device packaging market outlook appears extremely positive. Burgeoning healthcare and pharmaceutical sectors drive the market demand. Besides, the rapid industrialization and economic growth worldwide, alongside the vast advances in packaging technologies, foster the medical device packaging market growth. Growing innovative applications of these packaging solutions in the personal care industry increase the medical device packaging market size. 

Government initiatives towards promoting eco-friendly packaging materials support market growth. Growing applications across the healthcare and pharmaceutical industries and personal care products contribute to the medical device packaging market share. Regulatory changes demand legacy product testing or virtual update of all package designs. This workload could be daunting, especially for small packaging departments.

But the situation gives the unique opportunity to reimaging packaging for cost reduction, production performance, and user experience & safety. This also allows various research grants from the public and private sectors to advance packaging innovation by optimizing stability testing of common sterile barrier material systems for medical devices. Besides, additive manufacturing changes the supply chain and production game.

This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the Medical Device Packaging market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global Medical Device Packaging market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.

COVID-19 Impact Assessment on Market Landscape

The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.

Medical Device Packaging market Report empowers readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.

Medical Devices Packaging Market: Regional Analysis

The regional front of the global medical devices packaging market is dominated by North America. The dominance of the region is the result of growing number of packaging machines manufacturers in country such as U.S. and Canada. Moreover, the implementation of IoT in commercial sector is extensively high in the region, which allows North America to dominate the regional front of global medical devices packaging market during the tenure of 2021 to 2027.

Medical device packaging market is expected to expand at an above average growth over the forecast period. Western Europe, the U.S. and Japan are the largest consumers with more than half of the world consumption owing to advanced technological capabilities essential for the medical devices production.

Growing healthcare industry is expected to drive the medical device packaging market which in turn affects the medical device packaging demand. However, healthcare cost reduction in the major markets as well as cost sensitiveness due to rising completion in the medical devices market might hamper the market growth. Growth in regions other than Western Europe, the U.S. and Japan is expected to present future prospects for the medical device packaging market.

Global Medical Devices Packaging Market: Key Drivers

 IoT has become one of the most fundamental technologies during the time of Industry 4.0. The technology allows the users to use data generated by the machines and devices that can help manufacturers to add value to the product. Owing to this benefit IoT is extensively used in devices. However, to make the supply of medical devices swift and seamless, the packaging of these devices has also become smart, i.e.. IoT has penetrated into the packaging industry also. To ensure that packaging of the devices are upto the standards of the businesses, the smart packaging solutions are heavily used. This rise in adoption is the major factor that is propelling the growth of global medical devices packaging market during the tenure of 2020 to 2027.

Competitive Rivalry

Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

• Company Overview
• Company Market Share/Positioning Analysis
• Product Offerings
• Financial Performance
• Recent Initiatives
• Key Strategies Adopted by Players
• Vendor Landscape
• List of Suppliers
• List of Buyers

Some of the prominent players in the Medical Device Packaging Market include:  Amcor plc; Sonoco Products Company; Mondi; CCL Industries; Constantia Flexibles; WestRock Company; Berry Global Inc.; Glenroy Inc.; SteriPack Group; Riverside Medical Packaging Company Ltd.

Unravelling the Critical Segments

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:

• Material Outlook 
• Plastic
• Paper & Paperboard
• Metal
• Others
• Product Outlook 
• Pouches & Bags
• Trays
• Boxes
• Clamshells
• Others
• Application Outlook 
• Equipment & Tools
• Devices
• IVD
• Implants

By Geography

North America

• U.S.
• Canada

Europe

• Germany
• France
• United Kingdom
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Southeast Asia
• Rest of Asia Pacific

Latin America

• Brazil
• Rest of Latin America

Middle East & Africa (MEA)

• GCC
• North Africa
• South Africa
• Rest of Middle East & Africa

Highlights of the Report:

• Market Penetration: Comprehensive information on the product portfolios of the top players in the market.
• Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and product launches in the market
• Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the market
• Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the market

Research Methodology

In the study, a unique research methodology is utilized to conduct extensive research on the growth of the Medical Device Packaging market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.

Secondary resources referred to by analysts during the production of the Medical Device Packaging market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.

Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the Medical Device Packaging markets more accurate and reliable.

Secondary Research

It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.

The secondary research sources referred in the process are as follows:

• Governmental bodies, and organizations creating economic policies
• National and international social welfare institutions
• Company websites, financial reports and SEC filings, broker and investor reports
• Related patent and regulatory databases
• Statistical databases and market reports
• Corporate Presentations, news, press release, and specification sheet of Manufacturers

Primary Research

Primary research includes face-to face interviews, online surveys, and telephonic interviews.

• Means of primary research: Email interactions, telephonic discussions and Questionnaire based research etc.
• In order to validate our research findings and analysis we conduct primary interviews of key industry participants. Insights from primary respondents help in validating the secondary research findings. It also develops Research Team’s expertise and market understanding.

Industry participants involved in this research study include:

• CEOs, VPs, market intelligence managers
• Procuring and national sales managers technical personnel, distributors and resellers
• Research analysts and key opinion leaders from various domains

Key Points Covered in Medical Device Packaging market Study:

• Growth of Medical Device Packaging in 2021
• Market Estimates and Forecasts (2017-2027)
•  Brand Share and Market Share Analysis
•  Key Drivers and Restraints Shaping Market Growth
•  Segment-wise, Country-wise, and Region-wise Analysis
•  Competition Mapping and Benchmarking
•  Recommendation on Key Winning Strategies
•  COVID-19 Impact on Demand for Medical Device Packaging and How to Navigate
•  Key Product Innovations and Regulatory Climate
•  Medical Device Packaging Consumption Analysis
•  Medical Device Packaging Production Analysis
•  Medical Device Packaging and Management