The global medical device secondary packaging market is projected to reach a value of US$ 12,409.8 million in 2023, which is expected to rise to US$ 20,914 million by 2033. The market is anticipated to grow at a stable CAGR of 6.1% over the forecast period.
Several key factors are driving the significant growth of the medical device secondary packaging market. The increasing aging population and the associated rise in chronic diseases are leading to a higher demand for medical devices such as pacemakers, stents, and artificial joints. This, in turn, is driving the need for proper packaging to ensure the safety and integrity of these devices. Furthermore, advancements in medical technology have resulted in the development of new medical devices, necessitating packaging solutions to protect them during transportation and storage.
The growing demand for minimally invasive surgical procedures is also contributing to the market growth by requiring smaller medical devices and appropriate packaging solutions to ensure safe delivery to the surgical site. Additionally, stringent regulations for medical device secondary packaging are playing a crucial role in driving demand as governments worldwide implement standards to protect the safety and integrity of the devices. Increasing awareness about the importance of proper packaging in extending the shelf life of medical devices is another factor driving market growth.
Despite the significant growth prospects, manufacturers face challenges in meeting stringent regulations and compliance requirements to ensure device safety and integrity. Ensuring the compatibility of packaging materials with medical devices to avoid damage is also a challenge. Moreover, managing costs while maintaining high standards of quality poses a significant challenge as manufacturers strive to produce cost-effective packaging solutions that meet industry standards.
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Key Takeaways from the Medical Device Secondary Packaging Market:
- The paper and paperboard market is expected to reach US$ 14,293.2 million by 2032, growing at a CAGR of 5.5% throughout the projection period.
- The plastic segment is projected to offer a growth potential of US$ 6,620.8 million, with the boxes sector accounting for approximately 30% of the market in 2022. This category is expected to grow at a healthy CAGR of 5.5% throughout the projection period.
- Folding cartons are anticipated to represent an incremental potential of US$ 1.9 billion by 2032, accounting for more than 21% of the market.
- The medical device secondary packaging sector in the United States is expected to exceed US$ 5,067.6 million during the projection period.
- The German market is predicted to provide an additional opportunity of US$ 1,030.4 million, making it an attractive location for investors and producers.
- By 2032, China’s medical device secondary packaging industry is projected to be worth US$ 1,270.1 million.
Who is Winning?
Product innovation, market expansion into new markets, strategic alliances and collaborations, and acquisitions are common growth tactics employed by the industry’s leading players. Startups in the market are developing innovative technologies to efficiently label medical devices.
Packaging companies may save validation time and eventually create smaller batch sizes that comply with customer specifications by applying the same processes for identical medical devices with a few minor adjustments. The use of NFC and RFID tags in packaging materials is expected to be promoted by counterfeiting, which is a serious problem with medical supplies.
Sonoco Products Company, Smurfit Kappa, Berry Global Group,Inc., Constantia Flexibles Group GmbH, UFP Technologies, Placon Incorporated, Steripack Group, Nelipak Group, Stora Enso Oyj, Winpak Ltd, Graphic Packaging International, LLC,Atlantic Packaging, Pro-tech Design & Manufacturing Inc., Scan Modul B.V., Körber AG, The BoxMaker
Rising Demand for Eco-Friendly and Durable Medical Devices Secondary Packaging Drives Market Growth
The Medical Devices Secondary Packaging market is experiencing significant growth, driven by the increasing demand for eco-friendly and sustainable packaging solutions in the healthcare industry. Paper and paperboard packaging, known for its excellent barrier properties against moisture, light, and oxygen, is projected to account for a substantial share of the market. The use of paper-based packaging helps extend the shelf life of medical devices and promotes environmental sustainability.
The United States is a major market for Medical Devices Secondary Packaging, driven by a robust economy, advanced healthcare infrastructure, and high healthcare spending intensity. The country’s large pharmaceutical and medical device industry contributes to the growing demand for reliable packaging solutions.
Germany‘s Medical Devices Secondary Packaging market is poised for significant growth, offering attractive opportunities for manufacturers and investors. With innovative packaging solutions and advanced technologies, Germany aims to revolutionize the packaging, storage, and transportation of medical devices.
China‘s healthcare industry is experiencing rapid growth, making it a lucrative market for Medical Devices Secondary Packaging manufacturers. The region’s economic development, increasing population, and rising healthcare expenditure contribute to market expansion.
In this evolving industry, manufacturers focus on innovation and keeping up with changing demands. Product innovation, market expansion, strategic partnerships, collaborations, and acquisitions are common growth strategies employed by leading players. Startups are bringing creative solutions, such as tray-style packaging systems and the use of NFC and RFID tags, to address labeling efficiency and counterfeiting concerns.
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Recent Developments in the Market:
- Ashfield, a subsidiary of UDG Healthcare plc, announced the development of three business divisions in January 2021 to expand and diversify its healthcare capabilities.
- In April 2021, Amcor presented its most recent invention, the New AmSkyTM blister system. This innovation has the potential to revolutionize medical packaging sustainability.
- In April 2020, Amcor’s ULTRA pouches were certified for steam sterilization at 134°C and vaporized hydrogen peroxide treatment. As a result, the pouches may be used to sterilize reusable medical equipment.
Medical Devices Secondary Packaging Market by Category
By Material:
- Paper and Paperboard
- Plastics
By Packaging Format:
- Boxes
- Folding Cartons
- Bags and Pouch
- Trays
- Inserts and Dividers
- Wrapping Films
By End Use:
- Surgical
- Therapeutic
- Diagnostic
By Region:
- North America
- Latin America
- Europe
- South Asia and the Pacific
- East Asia
- The Middle East and Africa
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