Medical Device Packaging Market to See Exponential Growth, Expected to Reach USD 74.78 billion by 2030
Research Reports
May 09, 2023
The worldwide Medical Device Packaging Market was valued at USD 31.32 billion in 2020, it is expected to be worth USD 74.78 Billion by 2030, with a CAGR of 6.5% from 2022 to 2030. Maintaining the integrity of the package is important for protecting a medical device. Usually, medical devices need to be properly packaged to avoid biological contamination, physical damage, and any other outside disturbance.
Packaging keeps things safe and lets people and the environment know what’s inside. Additionally, labeling is another reason for packaging, which helps people find the right device. Also, the packaging of a medical device is an important part of putting it on the market and making sure it stays safe throughout its shelf life.
The spread of COVID-19 has messed up the way healthcare is done all over the world. Because of the disease, more and more businesses have had to close for a while. Several parts of the healthcare sector are very much affected by this.
Additionally, there has been a moderate effect on the market for medical devices and supplies, including the medical device packaging market. Because of the pandemic, healthcare workers and facilities equipment have all moved in the same direction so that they can help deal with the rise in COVID-19 patients.
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Market Segmentation
The global medical device packaging market is split up by type of material, type of product its use, and region. Depending on the type of material, it can be further broken down into plastic, paper and paperboard, glass, foils, and other materials. It is broken up into pouches, boxes, clamshell packs, bags, blisters, and different types of packaging based on the type of product.
Additionally, it is divided into non-sterile packaging and sterile packaging on the basis of its use.
Regional Classification
The market is studied in four different regions: North America, Asia-Pacific, Latin America, Europe, and the Caribbean (LAMEA).
During the forecast period, North America is expected to make up a large part of the worldwide medical device packaging market. The industry in the region is expected to grow in the coming years. This is because of developed countries with strong economies, an aging population, and modern medical delivery systems. The market is also growing because different countries have different-sized people, spend more on healthcare, and have different types of health insurance plans. In the coming years, the market will also be driven by a strong primary medical community.
Additionally, many medical and life science research, a large pharmaceutical industry, and a large medical device packaging market.
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List of the key companies in the Medical Device Packaging Market are:
- Amcor Limited
- Bemis Company Inc,
- Chesapeake Limited
- I. du Pont de Nemours and Company
- Klöckner Pentaplast Group
- 3M Company
- WestRock Company
- Mitsubishi Chemical Holdings Corporation
- Oliver-Tolas
- Sonoco Products Company
- Berry Global Inc.
- Tekni-Plex.
- Aphena Pharma Solutions.
- CLONDALKIN GROUP
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Industry News
Over the previous few years, the global market for medical device packaging market has grown quickly. This is because the demand for medical devices is growing, and key economies are spending more on healthcare.
The worldwide medical device packaging market is growing because more people want packaging that is easy to use.
There is a lot of demand for packaging devices that keep the goods and the package intact throughout the cycle. Medical device packaging protects them from things like shock, vibration, puncturing, tearing, bursting, and splitting. This necessity protection is expected to be a major factor. It drives the growth of the worldwide medical device packaging market.
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