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Medical Device Packaging Market to Grow at 6.14% CAGR Driven by Healthcare Industry to 2020

Press Release   •   Jan 29, 2016 05:45 EST

Market outlook of medical device packaging market - The use of medical device packaging on a large scale by medical device manufacturers, diagnostic centers, and hospitals has led to the growth of the global medical device packaging market, the analysts forecast global medical devices packaging market to grow at a CAGR of 6.14% during the period 2016-2020. The evolution from the traditional to the current technological setup in the manufacture of healthcare products has brought the healthcare industry to a stage where it is now furnished with high-tech equipment, technology, and huge investment. These developments in the healthcare industry are expected to expand the production of medical appliances, instruments, and supplies, which will further contribute to the growth of the market. Complete report available @ http://www.rnrmarketresearch.com/global-medical-device-packaging-market-2016-2020-market-report.html.

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.

Segmentation and Analysis by Product of the Medical Device Packaging Market – Trays, Pouches, Clamshell packs and other packaging materials

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.

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Geographical Segmentation of the Medical Device Packaging Market

North America holds a significant share of the global medical device packaging market in 2015, in which the US is the largest and primary contributor to the market in this region. Also, the advancement of medical devices and developed healthcare infrastructures will heighten the demand for innovative packaging in North America, thereby driving the growth of the overall market.

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.

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Key players in the global medical device packaging market: Amcor, Bemis, Berry Plastics, Gerresheimer and WestRock

Other prominent vendors in the market include 3M, Ahlstrom, Alcan, Alcoa, Barger, Becton, Dickinson, Catalent Pharma Solutions, DeRoyal Industries, DuPont, Eastman Chemical, Heritage Pioneer Corporate Group, Honeywell, Hospira, Janco, Kimberly-Clark, Medline Industries, Oliver Products, Owens-Illinois, Pharma Packaging Solutions, Rollprint Packaging Products, SCHOTT SteriPack, Superior Pack Group, Svenska Cellulosa, Technipaq, Tekni-Plex, TOLAS Health Care Packaging, Unicep Packaging, West Pharmaceutical Services, Wheaton Industries, and Wipak.

Further, the medical device packaging market report states that the market has been affected by the prevalence of stringent government regulations and industry standards that govern the packaging of medical products.

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