The medical and pharmaceutical packaging industries today face challenges and opportunities in light of recent growth, legislation changes and patient usage issues. According to the latest market study released by Technavio (technavio.com), the global medical device packaging market is expected to grow at a CAGR of over 6% from 2016 to 2020. The research report “Global Medical Device Packaging Market 2016-2020” states that the growth is seen in products such as containers, pouches, multiple compartment trays, clamshell packs, blister packs and glass vials used to package large medical devices, contact lenses, diagnostic reagents and syringes. One current challenge in the industry is the fact that medical device packaging is governed by strict regulations as the devices are typically sterilized.
“As a result of reforms and high investments in the healthcare industry, newer and more efficient medical devices and drugs are being introduced in the market. Healthcare companies such as Johnson & Johnson, Medtronic and Siemens continuously undertake efforts to develop advanced, innovative and efficient medical devices and drugs for diagnosis and treatment,” says Technavio lead packaging research analyst Sharan Raj. “The growth of the market is attributed to the need for packaging companies to supply convenient packaging solutions to customers across all healthcare facilities,” Raj adds.