The healthcare industry has witnessed rapid changes over time. Outbreak of new diseases, growth in regulatory norms across the world, focus on population health management, inventions, more informed customers, and growth in the advanced healthcare systems are some of the driving factors responsible for the need for medical devices packaging. The market has gone through the seismic shift, from traditional to the current technological setup, in the manufacturing of healthcare devices and products with huge investments in technological research.
The expansions and investments in the healthcare industry are expected to develop the production of instruments and other medical appliances, which may further contribute to the growth of the market. Also, the demand for flexible packaging is expected to be on a rise during the forecast period due to its benefits, such as moldability, transparency, durability, and chemical resistance, which will also increase the demand for medical devices packaging.
Moreover, medical devices manufacturing industries, diagnostic centers, and hospitals are now concentrating on the sterile and disinfect packaging of medical devices, owing to the rise in viral infections and various stringent regulations. Companies in the medical industry are undergoing restructuring to focus on packaging and R&D, while stringent regulations on the medical devices packaging industry are compelling the companies to focus on packaging type and material usage. This has resulted in the implementation of a standardized packaging process for designing and developing proficient medical devices. It is necessary for the medical device manufacturer to ensure that reliable, safe, and fully functional devices arrive at the point of end use. To uphold this integrity, the packaging process must maintain the product intended shipping, handling, and longer shelf life period. These factors are expected to boost the overall market during the forecast period. However, large initial investments and increasing government regulations over the medical devices packaging process are the restraining factors hindering the growth of the market.
Rising Focus on Longer Shelf Life Products to Propel the Market Growth
The rising demand from the consumers for products that have extended shelf life and are easy to use has led companies to develop alternative packaging solutions. Shelf life can be increased by protecting the products from potentially deteriorating agents, such as moisture, oxygen, and microbes. In order to protect the medical devices, companies need a cost-effective packaging solution that can also provide sufficient protection from the microbes. For instance, flexible packaging has superior barrier capabilities and can effectively protect the product from moisture and oxygen. Moreover, growing incidences of diseases and the consequent dependence on medical devices and various diagnostic tools is increasing the sales of sterilized pouches.
Various new technologies and raw materials, such as Tyvek, are probing into the flexible packaging manufacturing units to increase the shelf life of products. Research & development is focussed on improving the physical and chemical properties of packaging materials. Nano packaging technologies gaining popularity are inducing the modified atmosphere packaging systems to increase the sustainability. Moreover, medical devices packaging industries are inclined toward using active, intelligent, and antimicrobial packaging systems to increase the durability and future consumption.
Tyvek Material to Dominate the Market for Medical Devices Packaging
Tyvek material is a spun or gyrated-bonded olefin used in almost every major form of medical devices packaging and is used as flat and stand-up pouches. Tyvek is a fiber material with continuous strands and extremely fine, high-density polyethylene material. As Tyvek possesses features such as chemical inertness, dimension stability, and dry as well as wet strength, it is best suited for the packaging of medical devices. Moreover, Tyvek is tear and puncture resistant, rendering it appropriate for a wide range of applications for medical devices, which are bulky and irregularly shaped. The unusual fiber structure of the material allows rapid gas and vapor transmission, which acts as a barrier to the passage of microorganisms. Owing to properties such as microbial impermeability and high porosity, Tyvek is often used with ethylene oxide (ETO) sterilization methods. The above-mentioned features are expected to boost the global market for Tyvek during the forecast period. The manufacturers are also trying to enhance their offering by manufacturing products, which is more suitable for the healthcare industry. Medical devices require packaging which is environmentally safe and free from contaminants and Tyvek helps in meeting these objectives. The growing technological propagation and amalgamation of Tyvek packaging applications with a large variety of products are the major factors driving the growing use of the Tyvek material in medical devices packaging market.
Latin America to Account for a Significant Market Share
The medical devices packaging market in Latin America is expected to witness a sustainable growth over the forecast period. The region holds good potential for long-term growth, despite recent setbacks from the financial crisis. Brazil is the biggest economy in Latin America, with high-income levels, along with healthcare infrastructural developments will dominate the region by driving the demand for medical device packaging solutions. In Mexico, public healthcare institutions account for approximately 70 -80% of the total medical services while private healthcare institutions cover approximately 25 -30% of the Mexican population, including approximately 32 million people with private medical and accident insurance, according to ITA Medical Devices Report. The high disposable income, penetration of technology, and growing awareness on the healthcare sector are expected to drive the demand for medical device packaging products in Latin America.
Key Developments in the Market
- January 2018 - Berry Global Inc. announced the unveiling of two new medical packaging solutions at the Medical Device & Manufacturing (MD&M) West exhibition. It showcased DuraMed, a patented solution for form-fill-seal packages, header bags, and peel pouches. The other product launched was DirectSeal. These cost-effective solutions will eliminate the need for a matching coated substrate for applications including form-fill-seal, header bags, and peel pouches.
- September 2017 - DuPont announced the introduction of DuPont™ Tyvek 40L medical packaging, a new class of Tyvek for medical packaging applications that provides a cost-effective option for protecting lightweight, low-risk devices. The addition of Tyvek 40L to their family of Tyvek styles for medical and pharmaceutical packaging is the latest example of their long-standing and ongoing commitment to making a world of greater good possible.
Reasons to Purchase this Report
- Impact of governmental regulations on the manufacturing and packaging of medical devices
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis
- Growth in adoption of various products such pouches, bags, and boxes across the different medical applications
- Regional analysis of the market
- Identify the latest developments, market shares, and strategies employed by the major market players
- 3-month analyst support, along with the Market Estimate sheet (in Excel)
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1.1 Scope of the Study
1.2 Executive Summary
2. Research Approach and Methodology
2.1 Key Deliverables of the Study
2.2 Study Assumptions
2.3 Analysis Methodology
2.4 Research Phases
3. Market Dynamics
3.1 Market Overview
3.2 Market Drivers
3.2.1 Growing Innovations in the Medical Devices Market
3.2.2 Need for Longer Shelf Life Packaging Products
3.3 Market Restraints
3.3.1 Increasing Government Regulations over the Medical Devices Packaging Process
4. Market Insights
4.1 Industry Policies
4.2 Industry Attractiveness – Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Consumers
4.2.3 Threat of New Entrants
4.2.4 Threat of Substitute Products or Services
4.2.5 Competitive Rivalry among Existing Competitors
5. Technology Snapshot
6. Global Medical Devices Packaging Market Segmentation
6.1 By Material
6.2 By Product
6.2.4 Clamshell Packs
6.3 By Region
6.3.1 North America
126.96.36.199 United States
188.8.131.52 United Kingdom
184.108.40.206 Rest of Europe
6.3.3 Asia Pacific
220.127.116.11 Rest of Asia Pacific
6.3.4 Latin America
18.104.22.168 Rest of Latin America
6.3.5 Middle East and Africa
22.214.171.124 Saudi Arabia
126.96.36.199 South Africa
188.8.131.52 Rest of Middle East and Africa
7. Competitive Intelligence – Company Profiles
7.1 Amcor Limited
7.2 Bemis Company, Inc.
7.3 Berry Plastics Pvt Ltd
7.4 DuPont Company
7.5 WestRock Company
7.6 Albea Group
7.7 Mitsubishi Chemical Holdings
7.8 Chesapeake Services Ltd
7.9 Technipaq Inc.
7.10 SteriPack Group
*List is not Exhaustive
8. Investment Analysis
9. Future of Medical Devices Packaging Market