LONDON--(BUSINESS WIRE)--The medical device packaging market in Europe is expected to grow at a CAGR of more than 7% during the period 2018-2022, according to a new market research study by Technavio.
The report presents a comprehensive research of the medical device packaging market in Europe by product type that includes pouches, trays, and clamshells. The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as Western Europe and Eastern Europe.
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Market driver: growth of medical device market in Europe
The medical device market in Europe is highly diversified, and it produces an extensive range of medical products and devices. The product range varies from the tongue depressor to critical and complex programmable pacemakers. In Europe, the demand for medical devices such as diagnostic equipment, rehabilitation products, surgery devices, technical aid products, intensive care units, and hygiene devices is expected to increase during the forecast period. France, which is one of the top five medical device markets in the world is anticipated to witness a moderate growth rate during 2015-2020.
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Market trend: technological advances in medical device packaging
Technological advances are expected to play an important role in the medical device packaging market in Europe during the forecast period. Application of technology in implantable medical devices, medical imaging devices, home healthcare products, and supercomputing devices will fuel the need for innovative packaging solutions. For instance, the hermetic packaging is required in implantable medical devices to protect the implant’s electronic circuitry against the harsh environment of the human body. This technology is extensively used in miniaturized implantable medical devices.
Apart from this, the use of polyethylene terephthalate glycol (PETG) thermoform packaging designed for functioning in both sterile and non-sterile environments will also increase the market for medical device packaging in Europe.
According to a senior analyst at Technavio for packaging research, “Innovative packaging designs and technologies such as temperature controlled-sterilized containers, compression molding, liquid injection molding, and transfer molding have been contributing to the growth in the medical device packaging market in Europe. Moreover, quality assurance of the final product because of the introduction of automatic handling packaging process will further strengthen the market.”
Market challenge: achieving cost-effectiveness in medical device packaging market in Europe
Achieving cost effectiveness in their operations by providing sustainable and affordable packaging solutions to their customers is one of the key challenges faced by vendors in the medical device packaging market in Europe. The packaging material contributes a major cost in the development of medical device packaging solutions. Therefore, vendors must select the appropriate material for achieving cost-effectiveness in their packaging operations. The packaging material must have certain features such as resistance against damage, and the ability to maintain sterility throughout the life-cycle of the product.
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