Market Size of Asia-Pacific Medical Devices Packaging Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 7.40 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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APAC Medical Devices Packaging Market Analysis
The Asia-Pacific medical devices packaging market is expected to register a CAGR of 7.4% during the forecast period (2022-2027). The growing demand for medical devices due to increased healthcare expenditure in the public and private sectors and the stricter regulations are driving the market growth.
Medical device packaging is an important factor in keeping the device safe during distribution and throughout its shelf life. Hence, the design of the packaging material and packaging type is an important step in the development of medical products.
The packaging for medical devices is broadly categorized into sterile packaging and non-sterile packaging. Sterile packaging is the type of packaging wherein the devices must also protect against contamination, in addition to protection against physical damage. Sterilization packaging must conform to standards and must guarantee sterility throughout the whole supply chain from production through to the operation room.
Some medical devices such as CT scanners, X-ray machines, surgical robots, cardiovascular equipment, and ultrasound devices are sensitive and costly, thereby requiring appropriate packaging for proper distribution. The growth of the medical devices packaging market is driven directly by its end-user industry, i.e., the medical devices industry. More innovations are coming up in the packaging of these devices to make them tamper-evident and child-resistant. The industry is highly susceptible to government regulations, which vary with country.
According to the United Nations, Asia-Pacific is home to some of the world's most populous countries and approximately 60% of the world's total population. The region is among the prime locations for the manufacturing and sourcing of medical devices. The presence of some of the leading medical device manufacturers such as Olympus, Sonic Healthcare, and Nipro, among others, is driving the demand for medical device packaging solutions in the region.
The COVID-19 pandemic had a significant impact on most parts of the APAC region during the early month of 2020. Although the demand for medical devices increased during the period, the supply was hit hard by several restrictions imposed across the region.
However, with the condition moving toward normalcy due to widespread vaccinations happening across the region, the medical devices packaging industry is anticipated to gain traction during the forecast period.
