The medical device industry is witnessing advancements at a high rate. A medical device also goes through a lot of stages like sterilization, handling, shipping and usage. Therefore these devices require extra care while packaging and transporting. Its packaging should enable protection of medical devices against shock, puncturing, vibration, tearing, bursting, splitting, atmospheric changes in humidity and heat.
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The market is also witnessing a need for easy to use and easy to dispose packaging solutions. The advent of thermoformable materials enabled usage of new packaging solutions such as, thermoformed trays and blister packaging. Thereafter, a growing demand for good lidding materials compelled the manufacturers of medical device packaging solutions to come up with new packaging solutions with improved film laminations, which was made possible by the introduction of thermoplastic polymers. As the quality of healthcare continues to improve across the world, it is anticipated that the global medical device packaging market will benefit from the growth in demand for newer medical device packaging solutions aimed at enhancing consumer confidence.
Manufacturers have realised the need for sustainable packaging that proves to be cost efficient
Out of all the opportunities that are available to the businesses in the global medical device packaging market, a smart approach or sustainable packaging system can be the most beneficial opportunity for these companies. They need to focus on a sustainable packaging solution which involves a modern and smart packaging technology and is also cost efficient. For instance, auto identification is one of the technologies that is used to help the machines identify objects or persons. This includes a number of individual technologies such as barcodes, biometrics, and Radio-Frequency Identification (RFID). The advent of smart and intelligent packaging systems has enabled medical device packaging manufacturers to optimize their efficiency, thereby facilitating growth of the medical device packaging market.
Packaging manufacturers are also constantly enhancing their product development activities to concoct arrangements that permit medical device manufacturers (MDMs) to save cost while additionally convey value to purchasers and end clients of medical devices. Arrangements, for example, installing rehashed watermarks composite flexible structures or multi-layer rigid packaging formats enable producers to anticipate against duplicating of medical devices. Anti-counterfeit technology embedded in packaging maintains integrity of packaging as well as medical device products throughout complex supply chains. Thus, manufacturers of medical devices are increasingly demanding packaging solutions that have cost effective anti-counterfeit solutions.
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Trays packaging type to surpass the bags and pouches segment in terms of compound annual growth rate
According to the regional analysis of global device packaging market, North America dominates the market with the highest market share. The share is contributed by various packaging type segments. Among these segments, bags and pouches segment rules the market with a value of around US$ 2,300 Mn during 2017, expected to grow at a CAGR of 4.9% during the forecast period. It is followed by containers segment which has a market value of over US$ 2,000 Mn in 2017, growing at a CAGR of 4.3% during 2017-2027. However, the segment that is ahead all other packaging types, in terms of highest CAGR is trays, which is anticipated to grow at a CAGR of 5.7% during the forecast period.
Table Of Content
1. Executive Summary
1.1. Market Overview
1.2. Market Analysis
1.3. FMI Analysis and Recommendations
1.4. Wheel of Fortune
2. Market Introduction
2.1. Market Definition
2.2. Market Taxonomy
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3. Market Viewpoint
3.1. Porters Five Forces Analysis for Medical Device Packaging Market
3.2. PESTLE Analysis for Medical Device Packaging Market
3.3. Co-Relation Analysis for Medical Device Packaging Market
3.4. Parent/Associated Market Overview
3.4.1. Packaging Market Outlook
3.4.2. Flexible Packaging Market Outlook
3.4.3. Healthcare Market Outlook
3.5. Macro-Economic Overview
3.5.1. Global Plastic Production Growth
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