Dublin, May 21, 2020 (GLOBE NEWSWIRE) -- The "Global Medical Devices Packaging Market: Growth, Trends and Forecast (2020-2025)" report has been added to ResearchAndMarkets.com's offering.
The medical devices packaging market was valued at USD 29.32 billion in 2019 and is expected to reach a value of USD 41.91 billion by 2025, rising at a CAGR of 6.13 % over the forecast period 2020-2025.
Companies are focusing on reducing material and energy required in packaging. This is where 'green packaging designs' come into play and is an ongoing trend now. By involving a medical devices packaging partner in the initial stages of product development, companies can create packaging that is innovative and sustainable.
Longer shelf life packaging products is driving the market. A series of tests are carried out to assess package integrity and the physical properties of the packaging materials, as well as it's opening feature. Sterilization Packaging Manufacturers Council (SPMC) of the Flexible Packaging Association has become involved in providing guidance on the role of humidity in the accelerated ageing of sterilisable medical packaging, which will increase the life of products.
Due to increasing rate of new health diseases, the demand for more technological diagnostic instruments are increasing at an alarming rate globally, by which the demand for packaging will increase. Due to stringent government regulations in developed countries on use of certain type of packaging materials is a factor expected to hamper growth of the market over the forecast period.
Key Market Trends
Plastic to Gain Significant Market Share Owing to Polycarbonate (PC) Packaging
- Plastics are the workhorse at the heart of medical packaging solutions. These are the perfect materials for shipping and storing intricate devices, drugs, and other medical instruments. Whether they're essential medical supplies such as IV bags and syringes or lifesaving medical devices such as incubators and dialysis machines, plastics help improve health and save lives around the world.
- Polycarbonate is a tough, transparent plastic material with outstanding strength and impact resistance, which makes an ideal material for medical device sterile packaging. It can be formed at a lower temperature compared to other plastics which can result in faster cycles times.
- Packaging for medical devices is often fabricated from thermoformed Polycarbonate film, which is a polymer-based medical devices packaging. Such films allow the package and its contents to be sterilized together by exposure to radiation. Emerging applications of PC through thermoformed include inhalers for the consumer market, ophthalmic products, orthopedic materials, and "lab-on-a-chip" devices for determining blood chemistry or analyzing proteins.
- LEXAN 8040 PC film of Tekra offers autoclave stability to meet sterile medical packaging applications required by FDA regulations and USP-VI compliance. It allows heat resistance for steam and dry heat sterilization, while maintaining exceptional clarity. Typical applications include ophthalmic solutions, blister packaging, implants, instrument tray sets, woven products, and diagnostics, which significantly increases the demand in the market.
Europe Expected to Occupy Significant Market Share
- The medical devices packaging market in Europe is significantly increasing its market share due to highly susceptible to government regulations and because of the rising demand for diagnostic equipment, rehabilitation products, and hygiene devices.
- The introduction of European packaging standards for terminally sterilized medical devices has been driven by the need to satisfy two separate requirements to clearly define how to satisfy the packaging elements of the Medical Device Directive (93/42/EEC) and to harmonize the national standards in use in various European Union (EU) member states that relate to specific materials.
- Europe medical device packaging is dominated by Amcor Limited followed by Bemis Company Inc.. Bemis European medical business includes three plants in the UK and Ireland, with approximately 150m annual sales of flexible packaging for healthcare products, which drives the market in this region.
The medical devices packaging market is highly fragmented and the major players have used various strategies such as new product launches, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market, which increases the rivalry in the market. Key players are Amcor Limited, Bemis Company, Inc., Berry Plastics Pvt Ltd, etc.
Key Topics Covered
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Longer Shelf Life Packaging Products
4.3.2 Growing Innovations in the Medical Devices
4.4 Market Restraints
4.4.1 Stringent Government Regulations in Developed Countries
4.5 Industry Value Chain Analysis
4.6 Industry Attractiveness - Porter's Five Force Analysis
5 TECHNOLOGY SNAPSHOT
6 MARKET SEGMENTATION
6.1 By Material
6.1.5 Others Materials
6.2 By Product
6.2.4 Clamshell Packs
6.2.5 Blister Packaging
6.2.7 Other Products
6.3 By Application
6.3.1 Sterile Packaging
6.3.2 Non-Sterile Packaging
6.4.1 North America
6.4.4 Latin America
6.4.5 Middle East & Africa
7 COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Amcor PLC
7.1.2 Berry Plastics Pvt. Ltd.
7.1.3 DuPont Company
7.1.4 WestRock Company
7.1.5 Mitsubishi Chemical Holdings
7.1.6 Chesapeake Pharmaceutical and Healthcare Packaging
7.1.7 Technipaq Inc.
7.1.8 SteriPack Group
7.1.9 Riverside Medical Packaging Company Ltd.
7.1.10 Wipak Group
8 INVESTMENT OPPORTUNITIES
9 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/gut7rx
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