Medical Devices Packaging Market

Medical Devices Packaging Market

Growth Factors of Medical Devices Packaging Market

The medical devices packaging market size was valued at USD 25.67 billion in 2023, and the market is now projected to grow from USD 26.99 billion in 2024 to USD 41.57 billion by 2032, exhibiting a CAGR of 5.55% during the forecast period of 2024-2032.

The medical devices packaging market observed progressive growth during the COVID-19 pandemic. The demand for ecological packaging solutions, oxygen cylinders, vaccines, medications, and ventilators was high. The surge in demand for oxygen mask, oxygen meters, and many other devices further enhanced the market’s improvement during this period.

An upsurge in the healthcare sector’s spending can be accredited to reasons, such as development of the aging inhabitants, growing public demand, and improvements in medical technology. Technological developments in medical science let healthcare team to identify and treat diseases in stress-free ways. Such improvements are contributing to the upsurge in healthcare spending. An upsurge in expenses on medical technologies will bring new kinds of medical devices to the market. As the approachability and types of devices in the market increases, the demand for them will also surge, causing in the high acceptance of medical devices packaging solutions which will upsurge the medical devices packaging medical devices packaging market growth.

Sterile packaging is used to protect medical devices from adulteration. The demand for sterile packing is projected to raise due to the growing demand for single-use medical devices and rising use of negligibly invasive processes. Moreover, the market is observing an upsurge in the use of inventive materials, such as smart, energetic, and fiber-based packaging. These constituents offer superior protection to medical devices and offer extra information about the kit.

Comprehensive Analysis of Medical Devices Packaging Market

The market can be segmented in various ways, depending on the focus of analysis such as by material, by product type and by application. Based on material, the market is segmented into plastic Polyethylene (PE), Polyethylene Terephthalate (PET), Polyvinyl Chloride (PVC), Polypropylene (PP), and others}, aluminium, paper & paperboard, and others. Based on product type, the market is segmented into boxes & cartons, bags & pouches, trays, clamshells, laminates, films, and others. Based on application, the market is segmented into disposable consumables, therapeutic equipment, and monitoring & diagnostic equipment.

North America region is dominating the medical devices packaging market share due to making of new software, use of gadgets, new technologies, and sizable fiscal assurances to the field of research and development.

The key players are enthusiastically contributing in planned events that are targeted at maintaining durable market position and growing market share by merger, partnerships and others. These players include Amcor (Switzerland), 3M Company (U.S.), DuPont (U.S.), AR Packaging (U.S.) , Shanghai Jianzhong Medical Packaging Co., Ltd. (China), Printpack (U.S), Avient Corporation (U.S.), Oliver Healthcare Packaging (U.S.), Steril Medipac (India), Dordan Manufacturing, Inc. (U.S.) these market players spending severely on research and development in order to arise with more new technology so that they can maintain and improve their existing market.

In July 2023, Oliver Healthcare Packaging acquired EK-Pack Folien. The achievement will support Oliver Healthcare Packaging’s supply chain and add in-region film and foil production to its portfolio. It will also give the company greater control over the supply chain and let it to transform its existing products to meet the customers’ evolving needs.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 5.55% from 2024 to 2032

Unit Value (USD Billion)

Segmentation By Material

- Plastic

• Polyethylene (PE)
• Polyethylene Terephthalate (PET)
• Polyvinyl Chloride (PVC)
• Polypropylene (PP)
• Others

- Aluminium

- Paper & Paperboard

- Others

By Product Type

- Boxes & Cartons

- Bags & Pouches

- Trays

- Clamshell

- Laminates

- Films

- Others

By Application

- Disposable Consumables

- Therapeutic Equipment

- Monitoring & Diagnostic Equipment

By Region

- North America (By Material, Product Type, Application and Country)

• U.S. (By Application)
• Canada (By Application)

- Europe (By Material, Product Type, Application and Country)

• Germany (By Application)
• France (By Application)
• U.K. (By Application)
• Italy (By Application)
• Spain (By Application)
• Russia (By Application)
• Poland (By Application)
• Romania (By Application)
• Rest of Europe (By Application)

- Asia Pacific (By Material, Product Type, Application and Country)

• China (By Application)
• India (By Application)
• Japan (By Application)
• Australia (By Application)
• South Korea (By Application)
• Southeast Asia (By Application)
• Rest of Asia Pacific (By Application)

- Latin America (By Material, Product Type, Application and Country)

• Brazil (By Application)
• Mexico (By Application)
• Argentina (By Application)
• Rest of Latin America (By Application)

- Middle East & Africa (By Material, Product Type, Application and Country)

• Saudi Arabia (By Application)
• UAE (By Application)
• Oman (By Application)
• South Africa (By Application)
• Rest of the Middle East & Africa (By Application)


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