Medical Device Packaging Growth
Tuesday September 22, 2015
What is a Medical Device?
A medical device is an instrument, tool, insert, component, or something of the like that is used to detect, avert, or treat diseases or other illnesses. It is not a drug, therefore it does not achieve its purposes through chemical action within or on the body. The packaging of these devices is a vital element of the medical device market to guarantee protection and sterility. While specific personnel are handling the devices, it is important to keep the devices protected during the distribution and handling processes. The awareness of the need for extra precaution for these medical devices is leading to positive growth in the packaging industry.
Expected Medical Device Market Growth
Analysts forecast that the Global Medical Device Packaging market is expected to grow at a compound annual growth rate of 5.92% from 2013-2019. This is good news for different industries and products on the market because there are many opportunities for success.
The Global Medical Device Packaging market can be divided into seven segments on the basis of types by application:
Surgical Appliances and Supplies Packaging
Surgical and Medical Instruments Packaging
Dental Devices Packaging
Ophthalmic Devices Packaging
Electro-medical Devices Packaging
Medical Apparatus Packaging
Adopted Technology Reason for Market Growth
The key customers of this market are medical device manufacturers, diagnostic centers and hospitals. There have been many reports done concerning the details of the major drivers, challenges and trends of this market. The increased adoption of technology is a major trend in the market. Examples of some application products can range from containers, pouches, glass vials and multiple compartment trays. Strict regulations apply to medical device packaging in order to maintain sterilization. There is definitely room for creativity and innovation for new products on the market and the different industries involved.