Medical Packaging Market

Analysts at GMI Research estimates that the Medical Packaging Market size touched USD 51.2 billion in 2021, and forecast to reach USD 87.3 billion in 2029, growing at a CAGR of 6.9% over the forecast period 2022-2029 attributed to growing demand for drugs which can help in treating respiratory diseases.

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Major Medical Packaging Market Drivers

Medical packaging Market is primarily driven by increasing prevalence of chronic respiratory diseases, technological innovations in packaging industry, emerging trends like miniaturization and compactness, and growing demand for anti-counterfeiting techniques to protect patients. Over the years, prevalence of respiratory diseases has increased significantly. Chronic obstructive pulmonary disease (COPD) are chronic inflammatory lung diseases, which makes difficult for person to breath. Long-term exposure to smoking tobacco, indoor pollution, and frequent respiratory infections, are some of the major risk factors of COPD. As per World Health Organization’s (WHO) report, COPD emerged to become third leading cause of deaths. Approximately 3.23 million deaths million people died in 2019 due to COPD. And a major portion of these deaths are observed in people who are aged below 70 years in low- and middle-income countries. As the number of respiratory diseases and infections are increasing rapidly, the demand for drugs and medicines to treat these diseases will rise in future, which will create more growth opportunities for medical packaging market.

Outbreak of Covid-19 negatively impacted different end-use industries due to disruptions in supply chain and decline in demand patterns for different products. But demand for medical products increased rapidly as governments in various countries imposed lockdowns, which led to increased purchases of these products by customers. Moreover, surge in the demand for tamper-proof and sterile packaged products, launch of advanced medical devices and rise in consumers spending on healthcare services, are some of the factors accelerating the growth of medical device packaging market. Surge in the demand for tamper-proof and sterile packaged products, launch of advanced medical devices and rise in spending on healthcare services, are some of the factors accelerating the growth of medical device packaging market. For instance, as per data released by The Centers for Medicare & Medicaid Services, the national healthcare spending in the United States increased by 2.7% in 2021 to reach USD 12,914 per person. Increasing population growth rates, growing awareness amongst consumers about hospital acquired infections and rising economic growth, are contributing towards the market growth. However, variations in the prices of raw materials, is restricting the market growth.

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Based on Materials, Polymer segment is forecast to dominate the market.

Manufacturers are focussing on using polymers-based materials as it have longer shelf life and cost for developing plastic is less, which can help them in reducing their manufacturing costs. In addition, plastics developed from polymers can handle repeated sterilization and resist corrosion, which is contributing towards the segment’s growth.

Based on Packaging Type, Bags and Pouches segment is projected to hold a significant share in the medical packaging market.

Technological advancements in pouch’s barrier characteristics and strength have increased application of pouches in gadget packaging and small to medium sized medical instruments and supplies, which is driving the segment’s growth. In addition, various companies are partnering to improve product quality of pouch, to cater the demand. For instance, in July 2019, Diener Implants GmbH, a major supplier of medical devices based out Germany, partnered with 3dpac by Steripac to develop implants sterile packed to its customers.

Application: Segment Analysis

Medical device packaging market is driven by development of advanced medical devices which requires specialized packaging, increasing focus of companies on developing smart labelling solutions for medical devices and rise in the production of medicines and drugs.

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Based on Region, North American region is expected to hold the major share in the medical packaging market.

North American medical packaging market is driven by surge in the cost of treating different diseases and ailments, increasing focus of companies on developing high-quality and long lasting products and high healthcare expenditure per capita. Due to the presence of many competitors, government in United States has imposed strict regulations, which has made market highly competitive in the country. Medical packaging market in China is driven by rapid economic growth, rise in the number of hospitals acquired infections and growing demand for implantable devices.

Top Market Players

Some of the leading players operating in the medical device packaging market are 3M, Westrock Company, Amcor plc, Berry Global Inc, Avery Dennison Corporation, CCL Industries, Constantia Flexibles, Bemis Manufacturing Company, Sonoco Products Company, West Pharmaceutical Services, Inc, among others.

Key Developments:

• • In April 2022, Amcor announced its plans to expand thermoforming capabilities for medical packaging in healthcare facility located in Sligo, Ireland.
  • In December 2021, Amcor a leading packaging solutions manufacturing company based out of Australia inaugurated state of the art healthcare packaging facility in Singapore. This healthcare facility will help company to cater the increasing healthcare packaging demand in future.
  • In December 2021, Peli BioThermal, major temperature-controlled packaging solutions developer, announced that it has opened a new service centre in India. The facility is located in Ahmedabad, which is a central hub for pharmaceutical companies in western region of India.
  • In January 2021, Ashfield announced formation of three business units Ashfield Engage Ashfield Advisory, and Ashfield Health to expand its healthcare services.
  • In April 2020, Amcor’s receives certificates for ULTRA Pouches which allows company vaporized hydrogen sterilization and stream sterilization of these pouches at 134°C. New accreditation signifies that its ULTRA Pouches complies with international and European EN 868 ISO and 11607 standards.
  • In November 2019, Wipak, a leading manufacturer of packaging solutions announced the launch of its new pouch, which is designed for packaging robotics instruments. This pouch is made with strong paper for protection and incorporates company’s multi-X 9 multilayer film.

Segments Covered in the Report:

The global Medical Packaging Market has been segmented on the basis of Materials, Packaging type, Application, and regions. Based on Materials, the market is segmented into Polymer, Paper and Paperboard, Non-woven fabric and Others. Based on Packaging type, the market is segmented into Bags and Pouches, Trays, Boxes and Others. Based on Application, the market is segmented into Medical Tools and Equipment, Medical Devices, In-Vitro Diagnostics Products and Implants.

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Market Segmentation

Global Medical Packaging Market by Materials

• • Polymer
  • Paper and Paperboard
  • Non-woven fabric
  • Others

Global Medical Packaging Market by Packaging type

• • Bags and Pouches
  • Trays
  • Boxes
  • Others

Global Medical Packaging Market by Application

• • Medical Tools and Equipment
  • Medical Devices
  • In-Vitro Diagnostics Products
  • Implants

Global Medical Packaging Market by Region

• • North America Medical Packaging Market (Option 1: As a part of the free 25% customization)
    • By Materials
    • By Packaging type
    • By Application
    • US Market All-Up
    • Canada Market All-Up
  • Europe Medical Packaging Market (Option 2: As a part of the free 25% customization)
    • By Materials
    • By Packaging type
    • By Application
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Medical Packaging Market (Option 3: As a part of the free 25% customization)
    • By Materials
    • By Packaging type
    • By Application
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Medical Packaging Market (Option 4: As a part of the free 25% customization)
    • By Materials
    • By Packaging type
    • By Application
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Market Name (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • 3M
  • Westrock Company
  • Amcor plc
  • Berry Global Inc
  • Avery Dennison Corporation
  • CCL Industries
  • Constantia Flexibles
  • Bemis Manufacturing Company
  • Sonoco Products Company
  • West Pharmaceutical Services, Inc