Surge in Developments Boosting Med Device Packaging Market

A rapid growth in investments in the medical device market leads to businesses spending more on the packaging of medical devices.

A rapid growth in investments in the medical device market leads to businesses spending more on the packaging of medical devices.
A rapid growth in investments in the medical device market leads to businesses spending more on the packaging of medical devices.

Medical devices go through sterilization, handling, shipping and usage stages, and that necessitates care in packaging and transporting, according to a new global medical device packaging market report from Future Market Insights.

FMI notes that packaging needs to protect against shock, puncturing, vibration, tearing, bursting, and changes in heat and humidity. Those factors are apparent, but as the report notes, “the market is also witnessing a need for easy-to-use and easy-to-dispose packaging solutions.”

The disposal end is not something that’s often noted among the regulatory and usage requirements traditionally considered in medical device packaging, yet this report notes, “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 [that] involves a modern and smart packaging technology and is also cost efficient.”

The report, “Medical Device Packaging Market: Global Industry Analysis 2012-2016 and Opportunity Assessment 2017–2027,” forecasts the global medical device packaging market will grow at a steady Compound Annual Growth Rate of 5.3% during 2017-2027.

FMI points out the global medical device packaging market is experiencing a surge with the developments happening in the industry, but regulatory scrutiny will likely hinder that growth.

The report also discussed the use of anti-counterfeit technologies for both flexible and rigid packaging to help manufacturers address counterfeiting in the supply chain. Anti-counterfeiting strategies are more commonly considered in pharmaceutical packaging.

Additional report findings include the following:

• On the basis ofpackaging type, bags and pouches lead with the maximum market share. The bags and pouches segment is estimated to hold a market value of over$ 6,682 millionin 2017. The segment is in close competition with the containers segment that is at the second position.

• Among thematerial types, the PE segment appears to be the most attractive segment. It is expected to hold a market value of over $6,000 million in 2017, growing at a CAGR of 5.1%. Among the sub segments of the PE segment, HDPE holds the maximum market value.

• On the basis ofend user, medical manufacturing is the dominating segment, which is expected to hold a market value of over $12,000 million in 2017, growing at a CAGR of 5.1%.

• North Americais the most attractiveregionin the global medical device packaging market, projected to account for a market value of over $9,700 million in 2017. Western Europeis at the second position with the market growing at 5.6% CAGR, higher than that of North America.

• Improved film laminations, RFID, and smart and intelligent packaging systems have enabled medical device packaging manufacturers to optimize their efficiency.

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