Medical Device Packaging Market size in North America to grow at a CAGR of 9.84% from 2022 to 2027

NEW YORK, July 22, 2023 /PRNewswire/ -- The North America medicinal device packaging market size is estimated to grow by USD 4,280 million from 2022 to 2027. The market is estimated to accelerate at a CAGR of 9.84%, according to Technavio.The growing competition in the market is compelling vendors to adopt various growth strategies, such as promotional activities and spending on advertisements to improve the visibility of their services. Technavio report analyzes the market's competitive landscape and offers information on several market vendors, including 3M Co., Amcor Plc, Aphena Pharma Solutions, AptarGroup Inc., Berry Global Inc., CCL Industries Inc., Constantia Flexibles Group GmbH, DuPont de Nemours Inc., Glenroy Inc., KP Holding GmbH and Co. KG, Mitsubishi Chemical Group Corp., Oliver Healthcare Packaging Co., Placon Corp., Plastic Ingenuity, Printpack Inc., SCHOTT AG, Sonoco Products Co., Steripack Group Ltd., Tekni Plex Inc., and West Pharmaceutical Services Inc. Download a Sample Report Now!

Medical Device Packaging Market Insights In North America -

Vendors: 15+, Including 3M Co., Amcor Plc, Aphena Pharma Solutions, AptarGroup Inc., Berry Global Inc., CCL Industries Inc., Constantia Flexibles Group GmbH, DuPont de Nemours Inc., Glenroy Inc., KP Holding GmbH and Co. KG, Mitsubishi Chemical Group Corp., Oliver Healthcare Packaging Co., Placon Corp., Plastic Ingenuity, Printpack Inc., SCHOTT AG, Sonoco Products Co., Steripack Group Ltd., Tekni Plex Inc., and West Pharmaceutical Services Inc.

Coverage: Parent market analysis; key drivers, major trends, and challenges; customer and vendor landscape; vendor product insights and recent developments; key vendors; and market positioning of vendors

Segments: Application (Equipment and tools, In-vitro diagnostic, Devices, and Implants) and Product (Pouches, Trays, Clamshells, Boxes, and others)

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Major Drivers - The growing shift toward smart packaging of medical devices drives the medical device packaging market growth in North America. There is a significant potential for intelligent packaging to boost sales by introducing certain differences in packaging, such as printing methods, types and sizes, practicality, and visual features. Another significant method is to enhance customer logistics and supply chain management with the development of radiofrequency devices, digital (barcode) reader technologies, temperature and humidity sensors, and customized packaging. The launch of smart packaging has revolutionized the market landscape in North America. Also, QR codes are embedded with the packaging of medical devices that can be scanned to access tutorial videos for using the product. The main advantage of using smart packaging is that it enables communication between hardware, software, medical professionals, patients, and manufacturers. Furthermore, several vendors are launching innovative methods of packaging, which is expected to drive the medical device packaging market growth in North America during the forecast period.

Significant Trends - The increasing demand for flexible packaging solutions is a primary trend shaping the medical device packaging market in North America. There has been a rise in demand for flexible packaging solutions in the medical disposable equipment or device market in North America. One of the main reasons for this significant transition is the increasing adoption of disposable medical devices by e hospitals and healthcare facilities in order to limit infection and cross-contamination. In addition, the main advantage of flexible packaging is that it can be sterilized using different techniques, including ethylene oxide or gamma irradiation, guaranteeing that medical devices are free from contaminants. Some of the common examples of medical disposables include devices like gloves, catheters, syringes, injections, plasters, scalpels, and insulin pens/ Other benefits of flexible packaging are that they are portable, lightweight, and take up less space in the warehouse and on the road. Hence, such factors are expected to drive the medical device packaging market growth in North America during the forecast period.

Key challenges - Replacement of old equipment and sterilization challenges are major factors hindering the medical device packaging market growth in North America. The strength of the package to prevent damage to an expensive medical device and the ability to withstand the effects of sterilization without the degradation of the package are prioritized by the manufacturers while designing the package. On the other hand, before opening the product, most end-users prefer to view it through a clear rigid package. Additionally, high-performance packaging is required for medical devices like prefilled syringes, injector pens, insulin pumps, or metered dose inhalers. Hence, designing the packaging based on contrasting requirement has become difficult for manufacturers, which are negatively impacting the market. Hence, such factors are expected to hinder the medical device packaging market growth in North America during the forecast period.

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The medical device packaging market in north america report provides critical information and factual data, with a qualitative and quantitative study of the market based on market drivers and limitations as well as future prospects.

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What are the key data covered in this Medical Device Packaging Market In North America report?

CAGR of the market during the forecast period

Detailed information on factors that will drive the growth of the medical device packaging market in North America between 2023 and 2027

Precise estimation of the medical device packaging market in North America size and its contribution to the market with a focus on the parent market

Accurate predictions about upcoming trends and changes in consumer behavior

Growth of the medical device packaging market across North America

A thorough analysis of the market's competitive landscape and detailed information about vendors

Comprehensive analysis of factors that will challenge the growth of the medical device packaging market vendors in North American

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Medical Device Packaging Market Scope In North America

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 9.84%

Market growth 2023-2027

USD 4,280 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

8.53

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

3M Co., Amcor Plc, Aphena Pharma Solutions, AptarGroup Inc., Berry Global Inc., CCL Industries Inc., Constantia Flexibles Group GmbH, DuPont de Nemours Inc., Glenroy Inc., KP Holding GmbH and Co. KG, Mitsubishi Chemical Group Corp., Oliver Healthcare Packaging Co., Placon Corp., Plastic Ingenuity, Printpack Inc., SCHOTT AG, Sonoco Products Co., Steripack Group Ltd., Tekni Plex Inc., and West Pharmaceutical Services Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents

1 Executive Summary

1.1 Market overview

2 Market Landscape

2.1 Market ecosystem

3 Market Sizing

3.1 Market definition

3.2 Market segment analysis

3.3 Market size 2022

3.4 Market outlook: Forecast for 2022-2027

4 Historic Market Size

4.1 Medical Device Packaging Market in North America 2017 - 2021

4.2 Application Segment Analysis 2017 - 2021

4.3 Product Segment Analysis 2017 - 2021

4.4 Geography Segment Analysis 2017 - 2021

5 Five Forces Analysis

5.1 Five forces summary

5.2 Bargaining power of buyers

5.3 Bargaining power of suppliers

5.4 Threat of new entrants

5.5 Threat of substitutes

5.6 Threat of rivalry

5.7 Market condition

6 Market Segmentation by Application

6.1 Market segments

6.2 Comparison by Application

6.3 Equipment and tools - Market size and forecast 2022-2027

6.4 In-vitro diagnostic - Market size and forecast 2022-2027

6.5 Devices - Market size and forecast 2022-2027

6.6 Implants - Market size and forecast 2022-2027

6.7 Market opportunity by Application

7 Market Segmentation by Product

7.1 Market segments

7.2 Comparison by Product

7.3 Pouches - Market size and forecast 2022-2027

7.4 Trays - Market size and forecast 2022-2027

7.5 Clamshells - Market size and forecast 2022-2027

7.6 Boxes and others - Market size and forecast 2022-2027

7.7 Market opportunity by Product

8 Customer Landscape

8.1 Customer landscape overview

9 Geographic Landscape

9.1 Geographic segmentation

9.2 Geographic comparison

9.3 US - Market size and forecast 2022-2027

9.4 Canada - Market size and forecast 2022-2027

9.5 Mexico - Market size and forecast 2022-2027

9.6 Market opportunity by geography

10 Drivers, Challenges, and Trends

10.1 Market drivers

10.2 Market challenges

10.3 Impact of drivers and challenges

10.4 Market trends

11 Vendor Landscape

11.1 Overview

11.2 Vendor landscape

11.3 Landscape disruption

11.4 Industry risks

12 Vendor Analysis

12.1 Vendors covered

12.2 Market positioning of vendors

12.3 3M Co.

12.4 Amcor Plc

12.5 AptarGroup Inc.

12.6 Berry Global Inc.

12.7 CCL Industries Inc.

12.8 Constantia Flexibles Group GmbH

12.9 DuPont de Nemours Inc.

12.10 KP Holding GmbH and Co. KG

12.11 Mitsubishi Chemical Group Corp.

12.12 Placon Corp.

12.13 Printpack Inc.

12.14 SCHOTT AG

12.15 Sonoco Products Co.

12.16 Steripack Group Ltd.

12.17 West Pharmaceutical Services Inc.

13 Appendix

13.1 Scope of the report

13.2 Inclusions and exclusions checklist

13.3 Currency conversion rates for US$

13.4 Research methodology

13.5 List of abbreviations

About UsTechnavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

ContactTechnavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]: www.technavio.com

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