In coming years, the demand for medical device packaging is anticipated to increase by nearly 6 percent annually to top $25 billion by the year 2017. The United States, Japan, and Western Europe will account for the majority of the total market share at almost 60 percent. In other areas of the world, the demand for medical device packaging will expand in such markets as Mexico, India, China, and Africa. Such expansion is largely due to an increase in functionality and quality requirements in light of expansion, enhanced regulations, and diversification.
Further analysis of the market indicates that the most significant growth will take place in Asia, particularly in China. By 2018, more than 40 percent of the global demand for medical device packaging will be represented by Asia. There are numerous reasons for the anticipated growth in this market, including sustainability initiatives, technical developments, and expansion of the consumer class in this part of the world.
A variety of trends around the world are further driving the expansion of the demand for medical device packaging around the world, including burgeoning healthcare sectors in emerging economies. An increase in personal incomes and living standards in many developing regions has further fueled the consumption of a variety of products and services in the healthcare industry.
Where the Demand Will Be for Medical Packaging
It is largely believed that the demand for medical device packaging will include a desire for containers that are highly adaptable to cost-effective measures as well as security-enhanced and infection-resistant formats. Clamshell packaging should continue to do well in the rising market as these packaging options either typically match or even exceed safety and sterility requirements.
As the landscape of medical device packaging continues to evolve, so have designs. More recently, regulations have placed an increased focus on the use of packaging that is more environmentally friendly. Packaging is now being analyzed much more closely than ever before and packaging providers are responding with improvements and innovative solutions in a variety of areas.
In particular, manufacturers are now actively seeking out packaging solutions that allow for static-control, superior clarity, and completely sterile properties. While performance is naturally an important issue, the onus is also on the packaging industry as a whole to provide cost-cutting solutions. The desire to keep costs down while at the same time maintaining the same quality standards and increasing the capacity for production can be a challenge. Customized medical device applications can often prove to be the ideal solution in such scenarios.
To learn more about the demand for medical device packaging, contact George B. Woodcock & Co.