New Research is Forecasting the State of Medical Device Packaging Through 2020
According to a press release from PR Newswire, the custom medical packaging industry is set to grow. In 2014, medical devices packaging accrued $21.64 Billion. By 2020, analysts are projecting it will rise to an industry total of $30.5 Billion.
While markets typically grow, this particular report spells relief for presentation packaging companies. Why? Because the medical industry was set to cut back on its packaging budget in order to favor R&D funding. While this is also important, one can’t really sacrifice quality when it comes to medical packaging and custom medical kits. With so many precise components and specific instructions, custom medical kits need to be as organized and clear as possible.
More than just an aesthetic, industry standards require medical devices packaging to to meet certain compliances. Tamper-proof or child-resistant. Coupling a high-end presentation kit with custom thermoformed trays and compartments, for example, is one way to fulfill these requirements. And the room for innovation keeps growing, perhaps adding to the growth factor.
Compliance packaging is vital to the medical industry. It doesn’t just apply to custom medical sales kits, but to medication as well. Pharmacy Times draws attention to a study that suggests a large portion of patients are not taking their medication as prescribed, which will most likely cause an increased desire for clarity for compliance packaging.
You may wonder what compliance packaging for medications has to do with medical packaging and custom medical kits, but those worlds may be colliding faster than you think. An anti-overdose drug will be stepping up production to combat the rise in drug overdoses, and may soon be carried by first responders in various forms for administering. Specialized delivery will require new devices, and thus specialized packaging. New devices and custom medical kits will give the respective industries a rise; a fortunate side effect of an unfortunate problem.
That’s one of the double-edges of the medical industry. Growth might be good for the industry as a whole–the medical device packaging industry–but sometimes it is at the behest of a sad statistic. Undeniable, however, is the need for high-end presentation boxes, medical sales kits, and proper medical device packaging that will meet these high standards, be functional, and present the products clearly and accurately.
As always, Sunrise Packaging is committed to delivering custom medical sales kits and launch kit boxes that fit the needs of any product or project.