For a medical device, protection is compulsory by maintaining package integrity, usually, proper packaging is demanded for the medical devices to avoid physical damage, biological contamination, and any other exterior disturbance. Furthermore, other motive of packaging is the appropriate identification of the device by means of labelling. In addition, medical device packaging is an imperative aspect to place a device in the market safe and secured throughout its shelf life. Packaging functions protection and communication with the environment, humans, and vice versa.
According to the report analysis, ‘Medical Device Packaging Market: Segmented By Packing Type (Primary, Secondary, and Tertiary); By Product (Bags & Pouches, Boxes, Trays, and Others); By Material (Polymer, PVC, Polyethylene Terephthalate (PET), Paper & Paperboard, PE and Others); By Application (Medical Tools & Equipment, Medical Devices, In-Vitro Diagnostic Products, and Implants) and Region – Global Analysis of Market Size, Share & Trends for 2019–2020 and Forecasts to 2030’ states that the growth of the market is attributed to augmented requirement for innovative packaging solutions, growing prevalence of chronic disorders, initiation of technology assisting R&D activities, and increasing concern towards the environment coupled with the augmented expenditure on healthcare infrastructure.
The effective growth in prevalence of chronic illnesses such as hypertension, diabetes, and cancer are a significant aspect projected to enlarge the market growth throughout the assessment duration. In addition, an augmenting the geriatric population that is more prone to chronic disorders would require implantable devices, monitoring & diagnostic equipment which in turn is projected to propel the requirement for the medical device packaging.
The prominent augment in investment in healthcare and increasing the R&D activities, particularly in developing countries is bound to booster the market growth. The augmented R&D activities have resulted in the development of newer and more efficient medical devices and drugs for diagnosis and treatment. Furthermore, producers are concentrating their efforts on safeguarding the entry of counterfeit products into the market and thus extended the investments in the medical device packaging industry.
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However, stringent rules and regulations linked with packing materials and packing services is projected to limit the global medical device packaging growth. The US Food and Drug Administration (FDA) distinguishes ISTA testing as an authorized standard for medical device packaging. Inappropriate designed and authenticated packaging will not meet these standards, causing the product launch to be delayed and the company’s reputation to suffer.
Global Medical Device Packaging Market is classified based on regional analysis into five major regions.
These involve North America, Latin America, Europe, Asia Pacific, and the Middle East, and Africa. Global Medical Device Packaging in Asia Pacific controlled the greatest market share of XX.X% during the year 2020 owing to the growing demand from developing countries such as China & India. Besides growing development activities and speedy economic expansion, propelling occurrence rate of several diseases and the increasing population in the region deliver a significant consumer base for the aging population, which is projected to propel the medical device packaging industry forward.
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Global Medical Device Packaging Market Analysis
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