Medical Devices Packaging Market Size

Medical Devices Packaging Market Analysis

The medical devices packaging market was valued at USD 29.32 billion in 2020 and expected to reach USD 41.91 billion by 2026 and grow at a CAGR of 6.13% over the forecast period (2021-2026). The healthcare industry has evolved from its erstwhile traditional form of practices to the current position, where high-tech equipment and instruments are being deployed to improve efficiency. These developments have been providing scope for the expansion of medical appliances and other medical devices, driving the growth of the market studied.

• Medical device packaging provides a sterile environment for the contents within, and the sterility needs to be preserved until the package is opened for use. All the interfering procedures involve contact between a medical device or surgical instrument and a patient's sterile tissue or mucous membranes. A significant risk of all such methods is the introduction of pathogenic microbes that could cause an infection. Failure to disinfect or sterilize reusable medical equipment carries a risk associated with a breach of the host barriers. Therefore, the level of disinfection or sterilization on the intended use of the object is an essential aspect of the usage of medical devices.
• With this trend of sterile instruments expanding rapidly, the market is being driven by the increasing number of hospitals, therapeutic equipment manufacturers, and diagnostic centers. Manufacturers are required to address these changes through constant innovations in packaging designs with changing end-user requirements and innovations in medical devices. The growing demand for tamper-proof, non-reactive, and sterile packaged products is driving technological advancements in the medical device's packaging market.
• New companies in the market studied are innovating in terms of economical ways and smart labeling of medical devices. For instance, CleanCut Technologies' Vault packaging system for devices is well suited for tray-style packaging. What such technologies imply for packaging companies is that they can use the same methods with a few modifications for similar medical devices, thus reducing their validation time and ultimately achieving smaller batch packages, in line with customer requirements. Counterfeiting, an evident problem in medical devices, is expected to promote the usage of NFC and RFID tags on the packaging materials.
• Also, as COVID -19 cases continue to rise in parts of the United States, the country is still struggling to secure the volume of PPE necessary to keep up with the spread of the virus. To help arm frontline workers, in May 2020, BIC North America announced to produce 2,000 medical-grade face shields every day at its factory in Milford. The face shields, approved by the FDA along with Level 1 medical devices, are all made of materials typically used in packaging (plastic) or would otherwise be scrap from materials used in the lighters. Besides, the shields are designed so the plastic can be removed and sterilized by the hospitals, rather than disposed of.