Global Medical Device Packaging Market to be Worth USD 65.26 Billion by 2033: Future Market Insights, Inc.

Medical Device Packaging Market

The global medical device packaging market is expected to be worth USD 38.57 billion in 2023, rising to USD 65.26 billion by 2033. The adoption of medical device packaging is expected to surge at a stable CAGR of 6.1% over the forecast period.

The medical device packaging market is experiencing significant growth driven by several key factors. The increasing aging population and the associated rise in chronic diseases are driving the demand for medical devices such as pacemakers, stents, and artificial joints, leading to an increased need for proper packaging to ensure the safety and integrity of these devices.

Advancements in medical technology have also led to the development of new medical devices, requiring manufacturers to invest in packaging solutions to protect them during transportation and storage.

Discover the Full Details in Our Report—Read More Now!

In addition, the growing demand for minimally invasive surgical procedures is driving the need for smaller medical devices and appropriate packaging solutions to ensure safe delivery to the surgical site. Stringent regulations for medical device packaging are also playing a key role in driving demand as governments around the world implement standards to protect the safety and integrity of the devices.

Furthermore, rising awareness about the importance of proper packaging in extending the shelf life of medical devices is also driving demand.

While the adoption of medical device packaging is expected to experience significant growth, manufacturers are also facing several challenges. One of the prominent challenges is meeting stringent regulations and compliance requirements to ensure the safety and integrity of medical devices.

Another challenge is ensuring the compatibility of packaging materials with medical devices to avoid any damage. Managing costs while maintaining high standards of quality is also a significant challenge for manufacturers as they strive to produce packaging solutions at a competitive price while meeting industry standards.

Key Takeaways from the Medical Device Packaging Market:

  • The paper and paperboard market is predicted to account for USD 14,293.2 million by 2033 and to register a 5.5% CAGR throughout the projection period.
  • During the projection period, the plastic segment is expected to offer a growth potential of USD 6,620.8 million. In 2022, the boxes sector accounted for about 30% of the market. This category is also predicted to rise at a healthy 5.5% CAGR throughout the projection period.
  • Folding cartons are expected to represent an incremental potential of USD 1.9 billion over the projection period and to account for more than 21% of the market by 2033.
  • During the projection period, the medical device packaging sector in the United States is expected to exceed USD 5,067.6 million.
  • German market is predicted to provide a startling additional opportunity of USD 1,030.4 million, making it an appealing location for both investors and producers.
  • By 2033, China’s medical device packaging industry is expected to be worth USD 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.

Key Players

  • Avery Dennison Corporation
  • 3M Company
  • E.I. du Pont de Nemours and Company
  • CCL Industries Inc.
  • Amcor Limited
  • Constantia Flexibles Group GmbH
  • Bemis Company, Inc
  • Sonoco Company
  • WestRock Company

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 newest invention, the New AmSkyTM blister system. This innovation has the potential to revolutionize medical packaging sustainability.
  • In April 2020, Amcor’s ULTRA pouches was 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 Device 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

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:     

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedInTwitterBlogs | YouTube

About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may also like these