Medical Device Packaging Market: Global Industry Analysis (2012-2016) and Opportunity Assessment (2017-2027)
- Future Market Insights
- December 2017
- 275 pages
Manufacturers have realised the need for sustainable packaging that proves to be cost efficient
Out of all the opportunities that are available to the businesses in the global medical device packaging market, a smart approach or sustainable packaging system can be the most beneficial opportunity for these companies. They need to focus on a sustainable packaging solution which involves a modern and smart packaging technology and is also cost efficient. For instance, auto identification is one of the technologies that is used to help the machines identify objects or persons. This includes a number of individual technologies such as barcodes, biometrics, and Radio-Frequency Identification (RFID). The advent of smart and intelligent packaging systems has enabled medical device packaging manufacturers to optimize their efficiency, thereby facilitating growth of the medical device packaging market.
Packaging manufacturers are also constantly enhancing their product development activities to concoct arrangements that permit medical device manufacturers (MDMs) to save cost while additionally convey value to purchasers and end clients of medical devices. Arrangements, for example, installing rehashed watermarks composite flexible structures or multi-layer rigid packaging formats enable producers to anticipate against duplicating of medical devices. Anti-counterfeit technology embedded in packaging maintains integrity of packaging as well as medical device products throughout complex supply chains. Thus, manufacturers of medical devices are increasingly demanding packaging solutions that have cost effective anti-counterfeit solutions.
medical device packaging market
Trays packaging type to surpass the bags and pouches segment in terms of compound annual growth rate
According to the regional analysis of global device packaging market, North America dominates the market with the highest market share. The share is contributed by various packaging type segments. Among these segments, bags and pouches segment rules the market with a value of around US$ 2,300 Mn during 2017, expected to grow at a CAGR of 4.9% during the forecast period. It is followed by containers segment which has a market value of over US$ 2,000 Mn in 2017, growing at a CAGR of 4.3% during 2017-2027. However, the segment that is ahead all other packaging types, in terms of highest CAGR is trays, which is anticipated to grow at a CAGR of 5.7% during the forecast period.
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