USD 38.6 Billion
Report ID:
SQMIG15H2078 |
Region:
Global |
Published Date: January, 2025
Pages:
192
|Tables:
95
|Figures:
70
Global Medical Device Packaging Market size was valued at USD 38.6 Billion in 2023 and is poised to grow from USD 40.68 Billion in 2024 to USD 61.97 Billion by 2032, growing at a CAGR of 5.4% during the forecast period (2025-2032).
Rapidly surging sales of medical devices and growth in medical device manufacturing activity around the world are forecasted to bolster the demand for medical device packaging going forward. Imposition of stringent regulatory requirements for medical device packaging to ensure product safety, sterility, and traceability is also expected to create new opportunities for market players in the future. Rising healthcare expenditure and increasing healthcare infrastructure development around the world are also forecasted to favor the global medical device packaging market growth in the long run. Advancements in packaging technologies and a surge in demand for home healthcare are also estimated to boost the sales of medical device packaging solutions over the coming years. Use of smart technologies and the adoption of sustainable packaging materials can also help companies improve their revenue generation potential going forward. However, high costs of advanced packaging solutions, supply chain disruptions, complex regulatory compliance, and environmental concerns regarding plastic waste are anticipated to be key restraints for medical device packaging companies across the study period.
Market snapshot - (2025-2032)
Global Market Size
USD 38.6 Billion
Largest Segment
Plastic
Fastest Growth
Metal
Growth Rate
5.4% CAGR
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Global medical device packaging market is segmented into product, material, application, and region. By product, the market is classified into pouches & bags, trays, boxes, clamshells, and others. Based on material, it is categorized into plastic, paper & paperboard, metal, and others. In terms of application, the market is divided into equipment & tools, devices, IVD, implants, and others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & and Africa.
Equipment and tools segment is slated to account for a major share of the global medical device packaging industry in the future. Rapidly increasing investments in healthcare infrastructure development and adoption of advanced medical devices are projected to bolster the demand for equipment and tools. Imposition of stringent mandates to ensure safety and sterility of medical equipment and tools are also expected to bolster the demand for specialized medical device packaging solutions going forward. Need for specialized packaging for products such as CT scanners, X-ray machines, MRI machines, ultrasound scanners, and other diagnostic equipment are slated to help this segment generate more revenue than others on a global level.
Meanwhile, the demand for medical device packaging in the IVD (in-vitro diagnostic) segment is slated to rise at the fastest CAGR over the coming years. Growing adoption of IVD testing devices for diagnostics of different infectious and chronic diseases is expected to help this segment generate new opportunities going forward. High demand for faster and more accurate diagnosis of diseases is also promoting the sales of IVD devices thereby boosting revenue generation for market players through 2032. High demand for personalized medicine is also estimated to offer new business scope for medical device packaging companies focusing on this segment in the long run.
The plastic segment is projected to account for a significant chunk of the global medical device packaging market share going forward. Widespread usage and preference of plastic for almost all types of packaging applications is helping it maintain a dominant stance in this industry as well. Availability of a wide variety of plastics for different needs of medical device packaging and cost-effective nature of plastic are also expected to further cement the dominance of this segment in the future. High versatility, safety, and durability of plastic packaging solutions is also driving its preference in the medical device industry. However, bans on use of plastics to reduce plastic waste are slated to hurt the share of this segment through 2032.
On the other hand, the demand for metal medical device packaging is slated to rise at an impressive pace over the coming years. High protection from light, moisture, and other types of damage offered by metal packaging is helping this segment generate new opportunities around the world. Aluminium is gaining traction as a preferred metal for medical device packaging applications. Use of aluminum foils in medical device packaging is expected to increase rapidly over the coming years. Advancements in development of new alloys and metal packaging solutions are also forecasted to offer new business scope for medical device packaging providers in the long run.
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Europe is slated to emerge as the largest market for medical device packaging companies in the long run. The presence of leading packaging companies, growing medical device manufacturing activity, and growing exports of medical devices from this region are helping it cement its dominance on a global level. Increasing emphasis on sustainability in this region is also expected to bolster demand for sustainable medical device packaging solutions going forward. Germany, France, and the United Kingdom are anticipated to be the most opportune markets in Europe through 2032 and beyond. Italy is also a major hub for medical device manufacturing, which makes it another opportune market for medical device packaging vendors in this region.
North America is expected to account for the second-largest share of the global medical device packaging industry in the future. The presence of multiple medical device manufacturers, rising demand for advanced packaging solutions, and high spending on medical device packaging R&D are estimated to offer new opportunities for medical device packaging providers in this region. The United States is slated to spearhead the demand for medical device packaging in North America owing to the presence of a developed healthcare infrastructure. Canada is also an opportune market for medical device packaging companies looking to make a mark in this region over the coming years.
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High Demand for Medical Devices
Advancements in Packaging Technologies
Supply Chain Disruptions
High Costs of Advanced Packaging Solutions
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Medical device packaging companies should focus on the development of sustainable packaging to stand out from competition. Targeting countries with high medical device manufacturing activity and rising healthcare infrastructure development is a key opportunity for all companies as per the global medical device packaging market analysis. Use of advanced packaging technologies and innovative packaging materials can also help improve revenue generation for medical device packaging suppliers.
SkyQuest's ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, increasing demand for medical devices and advancements in packaging technologies are slated to primarily augment the demand for medical device packaging across the forecast period. However, supply chain disruptions and high costs of advanced packaging are slated to impede medical device packaging adoption going forward. Europe region is slated to spearhead medical device packaging demand owing to the presence of leading packaging companies and rising medical device manufacturing activity in countries such as Germany and Italy. Integration of smart packaging features and use of sterile and barrier packaging solutions can help market players boost their revenue generation potential in the long run.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 38.6 Billion |
Market size value in 2032 | USD 61.97 Billion |
Growth Rate | 5.4% |
Base year | 2024 |
Forecast period | (2025-2032) |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
Methodology
For the Medical Device Packaging Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Medical Device Packaging Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Medical Device Packaging Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Medical Device Packaging Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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