This market research presents an in-depth study of the global medical device packaging market and segmentation by product type (trays, pouches, clamshells, and others) and by geography (APAC, North America, Europe, and ROW). The report also presents the major drivers influencing the growth of the market and the challenges faced by the vendors in the market. Amcor, Bemis, Berry Plastics, Gerresheimer, and WestRock are the top vendors considered in the report.
Technavio’s market research analysts estimate the global medical device packaging market, to grow at a CAGR of around 6% between 2016 and 2020. The use of medical device packaging on a large scale by medical device companies, diagnostic centers, and hospitals has led to the growth of the global medical device packaging market. The US is the largest and primary contributor to the medical packaging market, thanks to advancement of medical devices and developed healthcare infrastructures in the region.
The new market research report from Technavio provides a breakdown and analysis of the medical device packaging segments by technology.
“The demand for flexible packaging is on the rise and the vendors in the market are using innovative pouches features and offering improved protection of medical equipment. The high demand for flexible packaging is due to the benefits it provide such as the ability to be molded into different shapes, chemical resistance, transparency, and durability. Thus, the increasing demand for flexible packaging is likely to spur the growth of the medical device packaging market during the forecast period,” says Sharan Raj, Lead Analyst, Transportation & Logistics, Technavio Research
The pouches segment is expected to grow at a moderate rate during the forecast period, posting a CAGR of almost 6%. Many companies are introducing innovative pouches for medical device packaging, which is fueling the growth of the market. One such innovation is the UFP Technologies’ FlexShield, which is a medical device pouch for implants, screws, rods, and other instruments.
The leading vendors in the global medical device packaging market include Amcor, Bemis, Berry Plastics, Gerresheimer, and WestRock. With the local players offering innovative solutions at prices lower than those offered by international players, the competition in the market increase significantly. This competition has motivated vendors to come up with innovative and technologically advanced products to sustain in the market.
A more detailed analysis is available in the Technavio report, Global Medical Device Packaging Market 2016-2020.
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