The medical device packaging market is predicted to be worth US$ 38.57 billion in 2023 and rise to US$ 65.62 billion by 2033. The global industry was expanding at a CAGR of 4.7% from 2018 to 2022.
The manufacturers have made products with a variety of technologies, such as peal/seal and counterfeit technology, available. They are intended to provide comfort and protect centerfire goods.
Holograms, UV identifying codes, 2-D barcodes with unique serial numbers, and hidden text can be utilized as effective anti-counterfeiting measures.
In the upcoming years, there is likely to be a rise in demand for packaging options that are simple to dispose of. As businesses work to lessen their impact on the environment and adhere to waste management regulations.
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Profitable Market Opportunity
The sterile instruments sector is being propelled by a surge in hospitals and therapeutic equipment producers. Manufacturers must adapt their packaging designs frequently to meet evolving end-user needs. Moreover, new medical device advancements, to keep up with these developments.
Key Takeaways
- By 2033, the medical device packaging market in the United Kingdom is likely to expand, with a CAGR of 5.7%.
- In 2022, the United States expanded effectively in the medical device packaging sector, with a share of 29.5%.
- The medical device packaging market was significantly expanding, with a size of US$ 36.59 billion in 2022.
- By 2033, the medical device packaging industry in China is likely to expand, with a CAGR of 6.6%.
- In 2022, Australia is projected to expand in the medical device packaging business, with an expected share of 2.1%.
- The market is expected to grow at a US$ 45.16 billion valuation by 2026, with the emergence of cloud computing.
- By 2033, India is projected to expand significantly in the medical device packaging sector, with a share of 7.5%.
- Japan’s medical device packaging market share expanded significantly, with a 6.6% share in 2022.
- In 2022, clamshell blister packs dominated the market with a share of 33.8%. It is anticipated to control the market by 2033 in terms of packaging type.
- Based on end users, medical manufacturing dominated the market with a share of 42.1% in 2022.
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Effective Approaches by Key Players
If medical device packaging start-ups are looking to expand their market presence, they must readily adapt to ongoing trends when creating their future business plans.
The key participants in the medical device packaging sector are changing constantly, which serves as a base for inorganic or organic expansion strategies.
Recent Developments
- Amcor created ultra packaging for hydrogen-sterilized goods in April 2020. Its packaging included a component for steam preservation. The sterile barrier system’s (SBS) standard requirements are being followed.
- In November 2019, Wipak developed pouching material with a total of 9 layers. It is less likely to be wasted or spoiled during transportation and storage.
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KeySegments
By Packaging Type:
- Bags & Pouches
- Containers
- Trays
- Stick Packs
- Clamshell Blister Packs
- Boxes
- Others (Flow Wraps etc.)
By Raw Material:
- PE
- HDPE
- LDPE
- LLDPE
- PET
- PP
- PS
- PVC
- Aluminum
- Glass
- Paper Laminates
- Fabric
- Others (PLA, PHA, etc.)
By Application:
- Disposable Consumables
- Monitoring & Diagnostic Equipment
- Therapeutic Equipment
By End-use Industry:
- Medical Manufacturing
- Contract Packaging
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East & Africa (MEA)
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