Global Medical Device Packaging Market is expected to grow at 6.67% CAGR, which is anticipated to reach USD 80. 91 billion by 2030.

CRI Report has released a report titled “Medical Device Packaging Market – Analysis of Market Size, Share & Trends for 2019 – 2020 and Forecasts to 2030” which is anticipated to reach USD 80. 91 billion by 2030. According to a study by CRI Report, the growth of the market is attributed to increased demand for innovative packaging solutions, rising prevalence of chronic disorders, the advent of technology supporting R&D activities, and growing concern towards environmental coupled with the increased expenditure on healthcare infrastructure.

The market report on global Medical Device Packaging market includes in-depth insights as:

• The estimated value of the market was USD 30.32 billion in the year 2020.
• Region-wise, the market in Asia Pacific, which held the largest market share of XX.X% in the year 2020, emerged as a key market for Medical Device Packaging Market.
• Based on Material, Polymer emerged as a key segment in the global Medical Device Packaging Market.
• Based on Application, Medical Tools & Equipment emerged as a key segment in the global Medical Device Packaging Market.
• Key players are likely to focus on product innovations and expansion through mergers to retain their positions in developed markets.

“Rising prevalence of chronic illnesses such as hypertension, diabetes, and cancer is a significant factor projected to expand the market growth during the assessment period. In addition, a growing geriatric population that is more prone to chronic disorders would demand implantable devices, monitoring & diagnostic equipment which in turn is expected to propel the demand for medical device packaging”, according to this report

Medical Device Packaging provides protection as well as ensures sterility of the medical devices during the shelf life. The critical need of maintaining the sterile barrier system (SBS) is a distinguishing feature of medical device packaging. It functions as a barrier to keep microorganisms out of the product and safeguard the medical devices from contamination, physical damage, and any kind of mechanical damage during shipping and storage. Medical device packaging also performs advertising and communication functions. The packaging conveys information regarding the product such as warnings, directions, and benefits. Product identification is a critical part of package communication. This is especially true for medical devices that are used in institutional settings, such as hospitals, where personnel may be pressed for time to select the suitable device for a patient.

Global Medical Device Packaging Market is segmented by Material into Polymer, PVC, Polyethylene Terephthalate (PET), PE, Paper & Paperboard and Others. Medical Polymer is expected to grow with the highest CAGR during the forecast period. Polymer is the most widely used material in the medical packaging industry. Polymers are materials that consist of long, repeating chains of molecules. The materials have distinct properties that depend on the kind of molecules bound and the way they are bonded. These polymers are better suited to medical applications since they are lighter, more biocompatible, and less expensive.

Key Players in the Market

• Some of the key players operating in the global Medical Device Packaging market are 3M, DuPont, Sonoco Products Company, Klöckner Pentaplast, Mitsubishi Chemical Berry Global Inc., Constantia Flexibles, and among others. Other Prominent Players.

Get Valuable Insights into Global Medical Device Packaging Market

In the new report, CRI Report thrives to present an unbiased analysis of the global Medical Device Packaging market that covers the historical demand data as well as the forecast figures for the period, i.e., 2021-2030. The study includes compelling insights into growth that is witnessed in the market. The market is segmented by product into Bags & Pouches, Boxes, Trays, and Others. By Application, market is segmented into Medical Tools & Equipment, Medical Devices, In-Vitro Diagnostic Products, and Implants. By Material into Polymer, PVC, Polyethylene Terephthalate (PET), Paper & Paperboard, PE and Others. Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East, and Africa.