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Medical Device Packaging Market in North America - Top 3 Drivers by Technavio

15:43 EDT 1 Sep 2017 | Businesswire
Technavio Research

Technavio market research analysts forecast the medical device packaging market in North America to grow at a CAGR of more than 6% during the forecast period, according to their latest report.

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Technavio has published a new report on the medical device packaging market in North America from 20 ...

Technavio has published a new report on the medical device packaging market in North America from 2017-2021. (Graphic: Business Wire)

The market study covers the present scenario and growth prospects of the medical device packaging market in North America for 2017-2021. The report also lists trays, clamshell packs, and pouches as the three major segments. The other types of medical device packaging include bags, boxes, blister packaging, and vials. The medical device packaging market in North America by trays generated the highest market share in the medical device packaging market in North America.

According to Shakti Jakhar, a lead analyst at Technavio for packaging research, “Medical device packaging is used to create a sterile barrier system for medical devices and protect their functionality. This makes it crucial for the manufacturers to select the appropriate materials for the manufacturing of medical device packaging.”

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Technavio analysts highlight the following three market drivers that are contributing to the growth of the medical device packaging market in North America:

  • Technological advances in medical device packaging
  • Increased investments in pharmaceutical industry
  • Growing pharmaceutical packaging market in North America

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Technological advances in medical device packaging

With advances in technologies, the packaging of medical devices is becoming easier, which is helping in the growth of the medical device packaging market in North America. Such advances motivate companies to provide innovative solutions to their customer. For instance, in July 2017, Ossid, a subsidiary of Pro Mach, an integrated packaging solutions provider, introduced the Medical 8000S thermoform-fill-seal (TFS) machine. This machine provides efficient and customizable packaging solutions for medical devices with reduced material costs. It can produce a wide range of package types, such as foil packaging, flexible packaging, vacuum packaging, rigid packaging, re-closeable packaging, and modified atmosphere packaging (MAP).

Increased investments in pharmaceutical industry

Investments in the pharmaceutical industry are increasing, which is aiding innovations in the industry. This helps in the development of state-of-the-art medical devices for diagnosis and treatments, which is positively impacting the medical device packaging market in North America. For instance, Johnson & Johnson, a manufacturer of medical devices, and pharmaceutical and consumer packaged goods, spent more than USD 8 billion in R&D in 2016. Thus, with growing investments in the pharmaceutical industry, the demand for innovative packaging is increasing, which is aiding the growth of the medical device packaging market in North America.

Growing pharmaceutical packaging market in North America

The pharmaceutical industry needs reliable packaging solutions with an emphasis on product protection, quality, tamper evidence, patient comfort, and security needs. Continuous improvements and innovations that are taking place in the pharmaceutical industry, such as anti-counterfeit measures, are driving the growth of the market. The anti-counterfeit packaging market in North America is expected to grow at a CAGR of more than 14% during the forecast period.

“The vendors in the medical device packaging market in North America are increasingly focusing on sustainability. This rising focus on sustainability by vendors is helping the customers to use environment-friendly packaging solutions, thereby aiding the growth of the medical device packaging market in North America,” says Shakti.

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About Technavio

Technaviois a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides 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 10,000 reports and counting, covering 800 technologies, spanning across 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.

If you are interested in more information, please contact our media team at media@technavio.com.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

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