The global medical device secondary packaging market is projected to reach a value of US$ 12,409.8 million in 2023 and is expected to grow to US$ 20,914 million by 2033. The market is anticipated to experience a stable compound annual growth rate (CAGR) of 6.1% during the forecast period.
The growth of the medical device secondary packaging market is attributed to several key factors. Firstly, the increasing aging population and the consequent rise in chronic diseases have led to a higher demand for medical devices such as pacemakers, stents, and artificial joints. This increased demand necessitates proper packaging solutions to ensure the safety and integrity of these devices during transportation and storage.
Secondly, advancements in medical technology have resulted in the development of new medical devices, which require appropriate packaging solutions for protection. These packaging solutions safeguard the devices from potential damage and ensure their effectiveness when they reach end-users.
Thirdly, the growing demand for minimally invasive surgical procedures has led to the need for smaller medical devices. As a result, suitable packaging solutions are required to ensure the safe delivery of these devices to the surgical site.
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Stringent regulations governing medical device secondary packaging also contribute to the market’s growth. Governments worldwide have implemented standards to ensure the safety and integrity of medical devices, driving the demand for compliant packaging solutions.
Moreover, there is increasing awareness about the importance of proper packaging in extending the shelf life of medical devices. Manufacturers and end-users are recognizing the role of packaging in preserving the quality and functionality of devices over an extended period.
Despite the significant growth opportunities, manufacturers in the medical device secondary packaging market face several challenges. Meeting stringent regulations and compliance requirements to ensure device safety and integrity is a prominent challenge. Manufacturers must adhere to these regulations to guarantee that the packaging meets industry standards.
Another challenge is ensuring the compatibility of packaging materials with medical devices. It is crucial to select materials that do not interact with or damage the devices during storage and transportation.
Managing costs while maintaining high quality standards is also a significant challenge. Manufacturers strive to produce cost-effective packaging solutions without compromising on quality, meeting the demands of the market while remaining competitive.
Overall, the medical device secondary packaging market is experiencing substantial growth driven by factors such as the aging population, advancements in medical technology, demand for minimally invasive procedures, regulatory standards, and increased awareness about packaging’s role in device preservation. However, manufacturers must address challenges related to regulations, material compatibility, and cost management to thrive in the market.
Key Takeaways from the Medical Device Secondary Packaging Market:
- The paper and paperboard market is predicted to account for US$ 14,293.2 million by 2032 and to grow at a 5.5% CAGR throughout the projection period.
- During the projection period, the plastic segment is expected to offer a growth potential of US$ 6,620.8 million. In 2022, the boxes sector accounted for about 30% of the market. This category is also predicted to rise at a healthy 5.5% CAGR throughout the projection period.
- Folding cartons are expected to represent an incremental potential of US$ 1.9 billion over the projection period and to account for more than 21% of the market by 2032.
- During the projection period, the medical device secondary packaging sector in the United States is expected to exceed US$ 5,067.6 million.
- This German market is predicted to provide a startling additional opportunity of US$ 1,030.4 million, making it an appealing location for both investors and producers.
- By 2032, China’s medical device secondary packaging industry is expected to be worth US$ $1,270.1 million.
Who is Winning?
Product innovation, market expansion into new markets, strategic alliances and collaborations, and acquisitions are common growth tactics employed by the industry’s leading players. Startups in the market are developing innovative technologies to efficiently label medical devices.
Packaging companies may save validation time and eventually create smaller batch sizes that comply with customer specifications by applying the same processes for identical medical devices with a few minor adjustments. The use of NFC and RFID tags in packaging materials is expected to be promoted by counterfeiting, which is a serious problem with medical supplies.
Sonoco Products Company, Smurfit Kappa, Berry Global Group,Inc., Constantia Flexibles Group GmbH, UFP Technologies, Placon Incorporated, Steripack Group, Nelipak Group, Stora Enso Oyj, Winpak Ltd, Graphic Packaging International, LLC,Atlantic Packaging, Pro-tech Design & Manufacturing Inc., Scan Modul B.V., Körber AG, The BoxMaker
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Recent Developments in the Market:
- Ashfield, a subsidiary of UDG Healthcare plc, announced the development of three business divisions in January 2021 to expand and diversify its healthcare capabilities.
- In April 2021, Amcor presented its most recent invention, the New AmSkyTM blister system. This innovation has the potential to revolutionize medical packaging sustainability.
- In April 2020, Amcor’s ULTRA pouches were certified for steam sterilization at 134°C and vaporized hydrogen peroxide treatment. As a result, the pouches may be used to sterilize reusable medical equipment.
Medical Devices Secondary Packaging Market by Category
By Material:
- Paper and Paperboard
- Plastics
By Packaging Format:
- Boxes
- Folding Cartons
- Bags and Pouch
- Trays
- Inserts and Dividers
- Wrapping Films
By End Use:
- Surgical
- Therapeutic
- Diagnostic
By Region:
- North America
- Latin America
- Europe
- South Asia and the Pacific
- East Asia
- The Middle East and Africa
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