Medical Device Packaging Market is expected to rise from its initial estimated value of USD 27.25 billion in 2018 to a projected value of USD 43.99 billion by 2026, registering a CAGR of 6.17% in the forecast period of 2019-2026. This rise in market value can be attributed to innovations in packaging products offering and services.
New Medical Device Packaging Market Developments in 2020
- In January 2020, Sonoco Products Company acquired Thermoform Engineered Quality LLC and Plastique, manufacturer of thermoformed packaging serving healthcare. This acquisition will enhance the quality of products being given to their customers while increasing the product portfolio of the company.
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Key Market Competitors: Amcor Limited; Aphena Pharma Solutions; Beacon Converters, Inc.; Berry Global Inc.; WestRock Company; CLONDALKIN GROUP; CONSTANTIA; DuPont; Klöckner Pentaplast; Mitsubishi Chemical Holdings Corporation.; Klöckner Pentaplast; Oliver; Placon; Plastic Ingenuity; Printpack; Sealed Air; SIGMA MEDICAL SUPPLIES CORP.; Technipaq Inc.; Tekni-Plex; 3M; TOPPAN PRINTING CO., LTD.; Wihuri Oy; West Pharmaceutical Services, Inc.; Placon; Bemis Company, Inc.; Gerresheimer AG; Ahlstrom-Munksjö; Huhtamäki; are few of the major competitors currently present in the market.
Benefits of the report for Medical Device Packaging market
- What are the challenges being faced by the new entrants
- Drivers and restrains of the market
- Key developments in the market
- Market volume
- CAGR value for the forecast period 2019-2026
- Growth of the overall medical devices market is expected to act as a driver for the market growth; this factor is expected to act as a driver for the market growth
- Need for longer shelf-life of the medical devices which has resulted in growth of demand for effective medical device packaging products; this factor is expected to act as a driver for the market growth
- Presence of strict requirements and regulations regarding the packaging services and materials used in the packaging of medical devices set by the various organizations; this factor is expected to restrain the market growth
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Segmentation: Global Medical Device Packaging Market
- By Products
- Clamshell Packs
- Wrap Films
- By Accessories
- By Material
- Paper & Paperboard
- By End-Users
- Medical Manufacturing
- Contract Packaging
- Retail Packaging
- By Distribution Channel
- By Geography
- North America
- South America
- Middle East & Africa
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