Medical Device Packaging Market
The medical device packaging market is poised for continuous growth driven by stringent regulations, evolving technologies, and the ever-expanding healthcare industry. This dynamic landscape fosters intense competition among established players and niche innovators. Let's delve into the strategies, factors influencing market share, recent news, and key developments shaping the market over the past six months.
Strategies Adopted by Top Players:
-
Product Innovation:Â Leading companies like Amcor and WestRock are investing heavily in research and development, focusing on sustainable and eco-friendly packaging solutions, smart packaging with integrated tracking and monitoring features, and materials that enhance sterility and device functionality.
-
Acquisitions and Collaborations:Â Merging capabilities and expanding portfolios is a prevalent strategy. Berry Plastics' acquisition of RPC Group strengthened its position in flexible packaging, while Constantia Flexibles' partnership with Amcor for recyclable blister packs exemplifies collaborative innovation.
-
Geographic Expansion:Â Emerging markets in Asia Pacific offer immense potential. Established players like Sonoco Products Company and Mondi are setting up production facilities and forging partnerships in this region to capitalize on the growing demand for medical devices.
-
Focus on Regulatory Compliance:Â Navigating the complex web of global and regional regulations is crucial. Companies like West Pharmaceutical Services offer comprehensive regulatory support services to ensure their packaging solutions meet the highest standards.
-
Digitalization and Customer Service:Â Implementing advanced e-commerce platforms, real-time inventory tracking, and customized supply chain solutions enhance customer service and build stronger relationships with medical device manufacturers.
Factors Influencing Market Share:
-
Product Portfolio Diversification:Â Offering a diverse range of packaging solutions for various medical device types and applications broadens customer reach and strengthens market position.
-
Cost-Effectiveness and Sustainability:Â Balancing affordability with innovative and sustainable materials remains a key challenge. Companies like Glenroy Inc. are pioneering the use of recycled content and renewable materials to address this need.
-
Production Capacity and Efficiency:Â Investing in advanced manufacturing technologies and optimizing production processes are crucial for cost reduction and timely delivery, especially in times of high demand.
-
Regional Regulations and Trade Policies:Â Fluctuations in trade policies and stringent regional regulations can disrupt supply chains and impact market share. Adapting production and sourcing strategies to navigate these challenges is essential.
-
Brand Reputation and Customer Trust:Â Building a strong reputation for quality, reliability, and excellent customer service fosters trust and loyalty, solidifying market share in the long run.
Competitive Landscape
Amcor Limited
Bemis Company Inc,
Chesapeake Limited
I. du Pont de Nemours and Company
Klöckner Pentaplast Group
3M Company
WestRock Company
Mitsubishi Chemical Holdings Corporation
Oliver-Tolas
Sonoco Products Company
Berry Global Inc.
Tekni-Plex.
Aphena Pharma Solutions.
CLONDALKIN GROUP
SIGMA MEDICAL SUPPLIES CORP.
TOPPAN PRINTING CO., LTD.
Recent Developments:
July 2023- A supplier of sterile barrier flexible packaging solutions to the global healthcare market, Oliver Healthcare Packaging, has announced the acquisition of EK-Pack Folien, a film and foil technology manufacturer located in Ermengerst-Wiggensbach, Bavaria, Germany. The deal includes Vacopack H. Buchegger, a completely owned subsidiary of EK-Pack, based in northeastern Switzerland. As disclosed in the deal, Oliver is set to acquire the EK-Pack facility, which has 23,000 square meters of manufacturing space with eight production lines to produce complex multi-layer film and foil laminations.
July 2023- TotalEnergies, SABIC, and Aramco have effectively converted oil derived from plastic waste into ISCC+ certified circular polymers for the first time in the Middle East and North Africa. The plastic pyrolysis oil, also known as plastic waste-derived oil (PDO), was processed at the SATORP refinery jointly owned by TotalEnergies and Aramco in Jubail, Saudi Arabia. Petrokemya, a SABIC affiliate, then utilized it as a feedstock to produce certified circular polymers.
February 2023- Manual pouch and tray sealing for medical devices launch risk from operator use errors. Read how sensors are protecting these errors before they happen. Manual medical device tray and pouch sealing can be a recurring procedure for operators. Even the most devoted workers are human and can make mistakes via visual fatigue, burnout, distraction, and other issues.
September 2023, Pacur, a packaging company based in the US, announced that it was using Eastman’s Easter Renew 6763 to make thermoformed rigid, sterile barrier packaging and take one step closer to a fully circular economy
In January 2024, Amcor Plc made known its intention to enlarge its thermoforming output to meet growing needs from buyers in the medical, pharmaceutical as well as consumer health segments within North America.
In May 2023, Sonoco Products Company showed a minimum fee increase of six percent for all converted paperboard items produced in the US and Canada.
In November 2019, Wipak developed a pouching material with nine layers that is likely to reduce wastage and spoilage during transportation and warehousing.
