The "Medical Devices Packaging Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The medical devices packaging market was valued at USD 29.32 billion in 2019 and is expected to reach a value of USD 41.91 billion by 2025 at a CAGR of 6.13% over the forecast period 2020 to 2025.
The healthcare industry has evolved from its erstwhile traditional form of practices to the current position, where high-tech equipment and instruments are being deployed to improve efficiency. These developments have been providing scope for the expansion of medical appliances and other medical devices, driving the growth of the market studied.
Medical device packaging provides a sterile environment for the contents within, and the sterility needs to be preserved until the package is opened for use. All the interfering procedures involve contact between a medical device or surgical instrument and a patient's sterile tissue or mucous membranes. A significant risk of all such methods is the introduction of pathogenic microbes that could cause an infection. Failure to disinfect or sterilize reusable medical equipment carries a risk associated with a breach of the host barriers. Therefore, the level of disinfection or sterilization on the intended use of the object is an essential aspect of the usage of medical devices.
With this trend of sterile instruments expanding rapidly, the market is being driven by the increasing number of hospitals, therapeutic equipment manufacturers, and diagnostic centers. Manufacturers are required to address these changes through constant innovations in packaging designs with changing end-user requirements and innovations in medical devices. The growing demand for tamper-proof, non-reactive, and sterile packaged products is driving technological advancements in the medical device's packaging market.
New companies in the market studied are innovating in terms of economical ways and smart labeling of medical devices.
For instance, CleanCut Technologies' Vault packaging system for devices is well suited for tray-style packaging. What such technologies imply for packaging companies is that they can use the same methods with a few modifications for similar medical devices, thus reducing their validation time and ultimately achieving smaller batch packages, in line with customer requirements. Counterfeiting, an evident problem in medical devices, is expected to promote the usage of NFC and RFID tags on the packaging materials.
Also, as COVID -19 cases continue to rise in parts of the United States, the country is still struggling to secure the volume of PPE necessary to keep up with the spread of the virus. To help arm frontline workers, in May 2020, BIC North America announced to produce 2,000 medical-grade face shields every day at its factory in Milford. The face shields, approved by the FDA along with Level 1 medical devices, are all made of materials typically used in packaging (plastic) or would otherwise be scrap from materials used in the lighters. Besides, the shields are designed so the plastic can be removed and sterilized by the hospitals, rather than disposed of.
The medical devices' packaging market is quite fragmented. The major players have used various strategies such as new product launches, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market, which increases the rivalry in the market. Key players are Amcor Limited, Bemis Company, Inc., Berry Plastics Pvt Ltd, etc.
April 2020 - April 2020, Amcor's ULTRA pouches were certified for vaporized hydrogen peroxide sterilization as well as steam sterilization at 134C. This means that the pouches can provide a solution for the sterilization of all reusable medical devices. The new accreditation assures that ULTRA pouches are compliant with the latest international and European EN 868 and ISO 11607 standards, including the Sterile Barrier System (SBS) requirement.
November 2019 - Wipak launched a new pouch specifically developed for packing robotic instruments and other long devices. The pouch keeps the devices sterile during transportation and storage. It is made with an extra-strong paper for better protection, with high puncture resistance and resistance to penetration of any microbial. The pouch also incorporates Wipak's acclaimed Multi - X 9 multilayer film, which consists of nine layers, each with its features and functions.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHT
4.1 Market Overview
4.2 Industry Value Chain Analysis
4.3 Industry Attractiveness - Porter's Five Force Analysis
4.4 Impact of COVID-19 on the Market
5 MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Longer Shelf-life Packaging Products
5.1.2 Growing Innovations in the Medical Devices
5.2 Market Restraints
5.2.1 Stringent Government Regulations in Developed Countries
6 MARKET SEGMENTATION
6.1 By Material
6.1.2 Paper & Paper Board
6.1.3 Others Materials
6.2 By Product
6.2.1 Pouches & Bags
6.2.4 Clam Shells
6.2.5 Other Products
6.3 By Application
6.3.1 Sterile Packaging
6.3.2 Non - Sterile Packaging
7 COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Amcor PLC
7.1.2 Berry Plastics Pvt. Ltd.
7.1.3 DuPont Company
7.1.4 WestRock Company
7.1.5 Mitsubishi Chemical Holdings
7.1.6 Chesapeake Pharmaceutical and Healthcare Packaging
7.1.7 Technipaq Inc.
7.1.8 SteriPack Group
7.1.9 Riverside Medical Packaging Company Ltd.
7.1.10 Wipak Group
8 INVESTMENT OPPORTUNITIES
9 FUTURE OF THE MARKET
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View source version on businesswire.com: https://www.businesswire.com/news/home/20201022005863/en/
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