Global Medical Device Packaging Market Analysis Report 2021-2028 by Material

The packaging market for medical devices is projected to grow to the sum of USD 48.97 billion before 2028. The market is anticipated to grow by a CAGR of 6.4 % from 2020 until 2028.

The growth in the market is due to the increasing demand for medical devices like surgical implants, medical instruments, medical supplies electronic medical equipment, as well as in-vitro diagnostic devices. The growing ageing population, which needs advanced medical treatment as well as an unhealthy way of life of the population, has led to the prevalence of chronic illnesses.

These medical device packaging items are made using various techniques including sterilization and heat seal to ensure product security and safety. Additionally, other techniques, such as seal seals and fake seals have been employed by the makers in order to prevent counterfeit products and duplicates in the marketplace. These technologies for counterfeiting are employed to monitor the product and protect them from counterfeiting by using unique numbers or serialization.

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The manufacturing of medical device packaging is concentrated in developed nations, which includes China, the U.S., Germany, the U.K., and China. Due to the high manufacturing of medical equipment in the mentioned countries. However, investments in the field of medical devices in emerging countries due to the large production volumes of medical devices in countries like India and Brazil are increasing in recent years and will benefit the growth of the market in the coming years.

In in vitro Diagnostic (IVD) devices experienced an enormous increase in demand in 2020 in the wake of the COVID-19 epidemic. This was because of the increasing demand for testing for infectious diseases conducted by various countries, like that of the U.S., India, China as well as the U.K. These countries made significant investments in COVID-19 testing in order to limit the spread of coronavirus.

The major companies in the market are engaged in the purchase of small and medium-sized businesses that aim to broaden their product range and expand production capacity. In October 2020 CCL Industries signed an agreement to purchase Danish-based Graphic West International ApS. The intention was at enhancing the ability to provide healthcare services to customers across Europe as well as North America.

Device Packaging Market Report Highlights: Medical Device Packaging Market Report Highlights

As the material, metal is anticipated to show the highest growth rate of 7.2% during the period of forecast. Aluminium-based containers, trays and pouches that are flexible are the most commonly used items in the field and serve as effective protection against oxygen, moisture and light

By product, pouches, and bags led the market with a share of 35.0% in 2020. This is to their flexibility which can be used to accommodate medical devices of varying dimensions and shapes. Their small size and the high product-to-package ratio allow for easy storage and handling of medical devices.

With regard to their application, IVDs are expected to increase at the fastest rate between 2020 and 2028 because of the growing demand for diagnostic tools and reagents. The reason for this is the huge demand for these medical devices as a result of the ongoing COVID-19 pandemic.

Europe has emerged as the most dominant market for regional products in the year 2020. This is because of the presence of numerous medical device manufacturers that produce IVD testing kits, respirators and other diagnostic equipment in these countries, like Germany and the U.K. and Germany

The key players in the market involve themselves in mergers and acquisitions, as well as geographic expansions