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Research details developments in the Global medical device packaging market : boosting CAGR of +6.2% by 2024

Research details developments in the Global medical device packaging market : boosting CAGR of +6.2% by 2024

Global Medical Device Packaging Market Analysis By Drug Delivery Device Packaging (Injectable, Topical, Nasal,Transdermal), Container Type (Pouches, Bags, Blister Packaging, Clamshells, Boxes), Raw Material (Plastics, Paper, Glass), End User (Medical Manufacturing, Contract Packaging, Retail Packaging), Distribution Channel, Geography

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According to New Research Report Global Medical Device Packaging Market is expected to reach USD 37,719.7 million by 2024 from USD 23,400.0 million in 2016, growing at a CAGR of 6.2% in the forecast period 2017 to 2024. The new market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.

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Global Medical Device Packaging Market By Drug Delivery Device Packaging (Injectable, Topical, Nasal,Transdermal), Container Type (Pouches, Bags, Blister Packaging, Clamshells, Boxes), Raw Material (Plastics, Paper, Glass), End User (Medical Manufacturing, Contract Packaging, Retail Packaging), Distribution Channel, Geography

Top Competitors:

Amcor Limited is going to dominate the medical device packaging market following with

  • Bemis Company Inc.
  • Berry Global Inc.
  • Barger
  • DuPont
  • CONSTANTIA
  • 3M
  • Texchem Polymer Engineering Division
  • Klöckner Pentaplast
  • CONSTANTIA
  • Technipaq Inc.
  • Plastic Ingenuity
  • Beacon Converters, Inc.
  • among others.

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KEY POINTS:-

  • Injectable drug delivery device packaging market is growing with the highest CAGR.
  • Plastic is holding the major share in global medical device packaging market and is growing with highest CAGR.
  • Medical manufacturing is dominating the medical device packaging market whereas contract packaging is expected to grow with the highest CAGR in the forecast period.

Key Market Drivers:

Some of the major factors driving the market for medical device packaging market are growing medical device market, increase in demand of flexible packaging, and increasing demand of innovative packaging materials.

  • Stringent government regulations may hinder the growth of this market.
  • Many companies are increasingly focusing on developing innovative packaging materials in order to strengthen their product portfolios in the medical device packaging market.

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The global medical device packaging market is highly concentrated to a few big players and rest to local players who cater to domestic markets only.

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Amcor Limited dominated the medical device packaging market accounting for the highest market share in 2016, followed by Bemis Company Inc. and Berry Global Inc. Other players in this market include Barger, DuPont, CONSTANTIA, 3M, Mitsubishi Chemical Holdings Corporation, Texchem Polymer Engineering Division, Klöckner Pentaplast, CONSTANTIA, Technipaq Inc., Plastic Ingenuity, and Beacon Converters held 17.9% of the global medical device packaging market in 2016.

Amcor Limited:

Founded in 1864 and headquartered at Zurich, Switzerland, Amcor Limited operates through two business segments Amcor Flexibles, Amcor Rigid Plastics and Other/Investments. The Amcor Flexibles Americas business produces flexible packaging for medical and pharmaceutical, fresh produce and snack food segments.

The Amcor rigid plastics manufactures rigid plastic containers food & beverage products, including carbonated soft drinks, water, juices, sports drinks, milk-based beverages, spirits and beer, sauces, dressings, spreads and personal care items and plastic caps for a wide variety of applications. The rigid plastics segment focuses on polyethylene terephthalate (PET) packaging as well as plastic resins.

In the year 2016, the rigid plastics segment achieved earnings of USD 352.5 million, an increase of 9.7% as compared to the earnings in 2015.

Bemis Company, Inc.:

Established in 1858 and headquartered at Neenah, United States, Bemis Company, Inc. operates through two business segments namely U.S.

packaging and global packaging. The major revenue of the company comes from the U.S.

packaging segment as compared to the global packaging segment. The company’s packaging products are widely diversified across food categories, agribusiness, medical, personal care products, pharmaceutical, consumer goods, construction and electronics.

The U.S. packaging segment represents all consumer, food and industrial products packaging related manufacturing operations across the United States. The global packaging segment includes all packaging related manufacturing operations for medical device and pharmaceutical packaging-related manufacturing operations globally.

Recent Developments:

In May 2016, Bemis Company, Inc. acquired the medical device packaging company SteriPack Group which is a global manufacturer of sterile packaging solutions for medical device and pharmaceutical applications.

The acquisition would help the company to enhance its product portfolio and also increase the customer base in Ireland, Florida, and Malaysia.

Berry Global Inc.:

Founded in 1967 and headquartered at Evansville, Indiana, Berry Global, Inc. operates through three business segments namely health, hygiene & specialties, consumer packaging, and engineered materials.

The consumer packaging segment focuses on containers, foodservice items, closures, overcaps, bottles, prescription vials, tubes, and printed films. The health, hygiene & specialties segment consists of nonwoven specialty materials used in hygiene, personal care, infection prevention, industrial, construction, and filtration applications.

The engineered materials primarily consists of pipeline corrosion protection solutions, tapes and adhesives, polyethylene based film products, can liners, and specialty coated and laminated products.

Recent Developments:

In June 2014, Berry Global Inc. acquired the Rexam Healthcare Containers and Closures business (“C&C”) for a purchase amount of USD 133 million.

The Rexam’s Healthcare C&C business produces closures, bottles, specialty products for pharmaceutical and over-the-counter applications.

Market Segmentation:

On the basis:- Drug delivery device packaging, container type, raw material, end user, distribution channel and geography.

In 2017, the injectable packaging segment is expected to dominate the market with a share of ~31.0% and is expected to continue this trend till 2024.

On the basis of container type:- Pouches, bags, blister packaging, clamshells, boxes and others.

By raw material:- Plastics, paper & paper board, glass and others. Plastic is further sub-segmented into polyethylene, polypropylene and others.

Polyethylene is sub-segmented into high-density polyethylene and low-density polyethylene.

On the basis of end users:- Medical manufacturing, contract packaging, retail packaging and others. In 2017, the medical manufacturing segment is expected to dominate the market and contract packaging is expected to grow with the highest CAGR in the forecast period.

On the basis of distribution channel:- The market is classified into direct tenders and retail.

In 2017, the direct tenders segment is expected to dominate the market and is expected to continue this trend till 2024.

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