North America Medical Device Packaging Market Outlook 2024: Opportunity Assessment and Demand Analysis, Market Forecast, 2016-2024

North America Medical Device Packaging Market

Market Overview

Medical devices market is the rapidly growing segment of the healthcare sector however, these devices faces challenges while ensuring safety during transportation. Protection of medical devices from physical damage is increasing the requirement for reliable packaging solutions in healthcare industry. Moreover, medical device packaging needs to follow the quality regulations and requirement given by Food and Drug Administration (FDA). Labelling and packaging of medical devices must mention with all FDA regulations which includes all medical device packaging design. ISO 11607-2 indicates that medical devices must be sterilized before packaging. Forming and sealing are the process by which sterile packaging of medical devices are completed which ensures the safety. This is mainly boosting the sterile medical device packaging market mainly in North America & Europe region.

Leading vendors are introducing innovative packaging solutions for medical device packaging which is accelerating the growth of the medical device packaging market. For instance, cost effective and durable nylon pouches introduced by QTS for packaging of orthopedic implants, surgical instruments, surgical procedure kits and tubing sets. Moreover, in 2013, UFP Technologies, Inc. launched FlexShield, a pouch packaging solution for implants, rods, screws and other instruments. FlexShield saves medical device from puncture and abrasion. These innovative solutions are propelling the demand for effective and efficient packaging solutions for medical devices.

Market Segmentation

North America medical device packaging market is categorized on the following basis:

• Based on Packaging Type
  • Bags & pouches
  • Trays
  • Boxes
  • Clamshells
• Based on Application
  • Packaging for Medical Devices
  • Packaging for Medical Equipments
  • Packaging for In Vitro Diagnostic Medical Devices (IVDs)
  • Packaging for Implants
•  Based on Country
  • U.S. {Market Size (USD Million), Growth Analysis (%)}
  • Canada {Market Size (USD Million), Growth Analysis (%)}

Market Size and Forecast (2016-2024)

North America medical device packaging is expected reach value USD 7.82 billion in 2024 and anticipated to grow at a CAGR of 5.9% during the forecast period.

U.S. is the largest market for medical device packaging owing to the huge investment in R&D and pharmaceutical industry to develop innovative packaging solutions. Presence of leading market players in U.S. also contributes in the dominance in medical device packaging market. U.S. medical device packaging market valued USD 6.16 billion in 2016 and is expected to reach USD 9.34 in 2024.

Canada is the 9^th largest market for medical device which is propelling the demand for effective packaging of medical devices in the region. Over 82% of medical devices are imported in Canada where the marking and labeling of medical devices as per Food and Drug Association is mandatory. Canada medical device packaging market is projected to grow at a CAGR of 7.0% over the forecast period.

Market Drivers and Challenges

Safety is the major concern which is impelling the demand for effective packaging of medical devices. However, inaccurate sizing of boxes and trays for medical device is a major challenge which causes packaging issues as well as quality and regulatory problems of medical devices. Improper sizing also damages the devices while transportation and storage causing monetary loss and impacting the growth of medical device packaging market in the region.

Key Market Players

• 3M Company
  • Synopsis
  • Business Strategy
  • Product Portfolio
  • SWOT Analysis
• Avery Dennison Corporation
• Amcor Limited
• CCL Industries, Inc.
• Sonoco Products Company
• WestRock Company
• DuPont
• Satatuote Oy
• Bemis Company, Inc.
• The Gerresheimer Group
• Berry Global, Inc.
• Biomerics
• Pharma Packaging Solutions
• Becton Dickinson
• Ahlstrom-Munksjö
• Associated Health Systems Inc.
• Avantis Packaging Inc.
• Atlas ImpEx
• Cryopak Verification Technologies Inc.

Scope Background

Market Synopsis

Market Segmentation

The North America Medical Device Packaging Market is segmented as follows:

• By Packaging Type (Market Size, Demand Analysis and Growth Analysis)
• By Application (Market Size, Demand Analysis and Growth Analysis)

By Country

• U.S. {Market Size, Growth Analysis and Opportunity Analysis}

• Canada {Market Size, Growth Analysis and Opportunity Analysis}

Market Dynamics: Growth Drivers, Restraints and Opportunities

• Risk Factors

• Regional Variations
• Recent Trends and Developments

Key Market Players

• Synopsis
• Business Strategy
• Product Portfolio
• SWOT Analysis

Porter’s Five Force Model

Market Landscape: Competition and Beyond

Market outlook for business players and entry level players to ascertain their business in dynamic ecosystem

Expert Analysis

Concluding Remarks