The Global Medical Device Packaging Market is expected to grow at a high CAGR of 23.20% during the forecasting period (2021-2028).
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(Spin Digit Editorial):- Bentonville, Arkansas Aug 10, 2021 (Issuewire.com) – Market Overview
Medical device packaging is an important part of the delivery of the device to market safely and securely. The packaging of the medical device helps to avoid device failure cost and reduces the time-delivery time of the complex equipment for device manufacturers. Medical device manufacturers require innovative design solutions which offer the most efficient, safe, and protective packaging.
Providing the packaging supplier with the final device saves time, money, and the hassle of potentially entire packaging project. The medical device packing is done with known and traceable materials. It should be non-toxic, non-leaching, and odorless, free of holes, cracks, tears, creases, and localized, intended for use in medical applications. Medical device packaging provides physical protection and allows sterilization aseptic presentation.
View full report: https://www.datamintelligence.com/research-report/medical-device-packaging-market
The international medical tool packaging is driven via rising calls for scientific gadgets demand such as ventilators and many others. Because of a surge in occurrence of the Covid-19. Further growing healthcare spending due to developing fitness consciousness and surge in incidences of persistent situations drives the market for clinical packaging.
Rising demand for the medical devices due to the rising prevelence of the Covid-19 infection with increasing healthcare spending
The market is driven by rising demand for medical devices due to the rising prevelence of the Covid-19 pandemic with the surge in healthcare spending. As per the Worldometer on 15th November 2020, an estimated around 56.01 million cases and increased 1.15 million deaths due to the Covid-19 infectious. It created a massive demand for medical devices such as ventilators, accessories, and other respiratory devices for the necessary treatment of the infected cases.
Rising demand for medical devices due to the surge in prevelence of chronic sicknesses have propelled the demand for the scientific device packaging market
Increase within the adoption of the medical tool packaging because of surge inside the prevelence of the chronic situations inclusive of diabetes, most cancers, etc. As consistent with the World Health Organization, globally around 18.1 million variety of most cancers cases were diagnosed and nine.6 million loss of life took place in 2018. Thus growing prevelence of most cancers diseases has propelled the call for superior clinical gadgets throughout the sector which propelled the clinical devices packaging marketplace.
Strengthening rules and regulations for the global medical device packaging and change in the raw material prices
The medical device packaging should follow strict rules and regulations as per the standard provided by the FDA to avoid contamination by other environmental particles. As packaging plays a vital role to keep equipment and medical devices safe and secure. Further fluctuations in the raw material prices hamper the growth of this market
Growing demand for recyclable, compostable, and sustainable packaging solutions
Medical device packaging is viatal due to the high cost of the medical devices hence it is necessary to have sustainable packaging for the equipment produced. Several leading players are making innovative flexible packing for medical devices to avoid damages and provide equipment safely to the hospitals. For instance, on 13th Feb 2020, Avery Dennison launched rPET recycled content liner with reinforced the company’s sustainability to offer converters the first rPET liner in North America. Further, on 10th July 2017, Avery Dennison launched the Stickpak portfolio expanded into flexible packaging.
COVID-19 Impact Analysis
The global clinical device packaging market has shown titanic growth because of the Covid-19 pandemic, as numerous leading production companies wished the unparalleled demand for clinical gadgets at some point of the covid-19. Several leading manufacturers have started out to supply the vital clinical devices to satisfy the global call required to remedy the Covid-19 sufferers.
For instance, on the thirteenth of April 2020, Ford, 3M, and other suppliers have commenced the production of medical equipment to meet the exceptional global call for the gadgets. It created a large demand for packaging all through the covid-19 pandemic. Further demand will stay regular as numerous nations’ restoration quotes from the covid-19 infection were multiplied.
- Clamshell Packs
- Films and Lamination
- Non-woven Fabric
- Paper & Paperboard
By Packaging Type
- Class I
- Class II
- Class III
- Orthopedic & Spine
- General Medical Devices
Download free sample: https://www.datamintelligence.com/download-sample/medical-device-packaging-market
North America region holds the largest market share global medical device packaging market
North America region is dominating the global medical device packaging market accounted for the largest market share in 2019, due to the presence of the several manufacturing industries of the medical devices with growing healthcare expenditure. As per the Medtech Europe Organization, in the United States, the medical devices trade to the United States increased to around US$ 2.30 billion followed by the European MedTech trade partners China and Japan.
Similarly, Europe is also growing at a faster pace for the medical device packaging market owing to rising medical devices sale in this region. As per the European Medical Technology Industry Association in 2017, the European medical technology market was estimated to be around US$ 136 billion.
Further increasing the manufacturing industry of medical devices in Europe has propelled the demand for the medical device packaging market. Europe is the second-largest medical technology market with almost 27,000 medical technology companies in Europe. It created a massive demand for the medical devices packaging market in this region followed by the Asia-Pacific region.
The medical device packaging market is moderately competitive with the presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include WestRock Company, Amcor, Constantia Flexibles Group GmbH, Bemis, Sonoco Company, Avery Dennison Corporation, 3M Company, Aphena Pharma Solutions, Beacon Converters, Inc, Berry Global Inc, Clondalkin Group, Constantia, Klöckner Pentaplast, Mitsubishi Chemical Holdings Corporation and among others.
The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the Medical Device Packaging market globally. For instance, on31st March 2017, Sonoco launched ClearGuard’s New Portfolio of Clear Barrier Flexible Packaging Sonoco which offers transparency which builds trust with consumers while providing best-in-class barrier properties for product protection.
Medical Device 3D Printing Market, Medical Device Outsourcing Market, Medical Device Connectivity Market
Source :DataM Intelligence
This article was originally published by IssueWire. Read the original article here.