Medical Device Packaging Market Demand Analysis, Future growth...

Medical Device Packaging Market Demand Analysis, Future growth Study 2033

Postado 2024-08-13 21:22:19

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The global medical device packaging market is expected to be worth US$ 12,409.8 million in 2023, rising to US$ 20,914 million by 2033. The adoption of medical device packaging is expected to surge at a stable CAGR of 6.1% over the forecast period.

Increasing demand for advanced medical devices, stringent regulatory requirements, and the growing need for efficient and safe packaging solutions are major drivers. The aging global population and the rise in chronic diseases necessitate the development of innovative packaging to ensure the sterility and integrity of medical devices. Additionally, the surge in healthcare infrastructure investments and the expansion of the medical device industry in emerging markets are contributing to market growth.

Technological advancements, such as smart packaging and sustainable materials, are also playing a significant role in shaping the market. The focus on reducing healthcare-associated infections and enhancing patient safety further underscores the importance of reliable and secure packaging solutions. As manufacturers continue to innovate and comply with regulatory standards, the Medical Device Packaging Market is poised for sustained growth over the forecast period.

Key Takeaways from the Medical Device Packaging Market:

The paper and paperboard market is predicted to account for US$ 14,293.2 million by 2033 and to register a 5.5% CAGR throughout the projection period.
During the projection period, the plastic segment is expected to offer a growth potential of US$ 6,620.8 million. In 2022, the boxes sector accounted for about 30% of the market. This category is also predicted to rise at a healthy 5.5% CAGR throughout the projection period.
Folding cartons are expected to represent an incremental potential of US$ 1.9 billion over the projection period and to account for more than 21% of the market by 2033.
During the projection period, the medical device packaging sector in the United States is expected to exceed US$ 5,067.6 million.
German market is predicted to provide a startling additional opportunity of US$ 1,030.4 million, making it an appealing location for both investors and producers.
By 2033, China’s medical device packaging industry is expected to be worth US$ $1,270.1 million.

Recent Developments in the Market:

Ashfield, a subsidiary of UDG Healthcare plc, announced the development of three business divisions in January 2021, to expand and diversify its healthcare capabilities.
In April 2021, Amcor presented its newest invention, the New AmSkyTM blister system. This innovation has the potential to revolutionize medical packaging sustainability.
In April 2020, Amcor’s ULTRA pouches was certified for steam sterilization at 134°C and vaporized hydrogen peroxide treatment. As a result, the pouches may be used to sterilize reusable medical equipment.

Key Segments

By Packaging Type: