The sterile medical packaging market size is predicted to reach US$ 70 billion by 2030 from USD 37 billion in 2020, growing at a CAGR of 10.5% from 2021 to 2030. Increasing investment, coupled with growth in the healthcare industry across the globe, is expected to drive the growth of sterile medical packaging market. The recent outbreak of Covid-19 is expected to have a positive impact on the sterile medical packaging market.
One of the major factors propelling the demand for sterile medical packaging is due to growing demand of medical devices in the healthcare industry. Sterile medical packaging has various product types including thermoformed trays, clamshell, IV containers & bags, sterile lid, pouches, die-cut baker cards, guided wire hoops, sterile wraps and others (including sterilization tapes, dust covers, gusseted packaging). Among the material type, plastic segment is expected to dominate in terms of market share, and is estimated to account for more than 50% of total market share in the global sterile medical packaging market during the forecast period.
The growth of sterile medical packaging market is increasing with increase preference for contamination free medical products, as uneven and unhygienic packaging may to lead to fatal consequences. Sterile medical packaging provide better protection against microorganisms and thus, fulfil consumers’ demand for safe and sterilized packaging for the medical products and supplies.
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The growing concerns about the spread of infectious diseases and the extensive demand for medical devices in the healthcare sector will serve as prominent growth factors revolving around the sterile medical packaging market across the tenure of 2018-2026.
- The rising preference for products with less contamination rate is bringing immense demand for sterile medical packaging. Thus, this aspect may add extra stars of growth to the sterile medical packaging market.
- The advantages of sterile medical packaging such as recyclability, longevity, and low weight along with serving as a microbial barrier may prove to be a growth pillar for the sterile medical packaging market. This type of packaging also protects the products from moisture and other changes occurred due to the weather. Hence, all these aspects serve as vital growth indicators for the sterile medical packaging market.
- The booming population and their increasing need for hygienic and contamination-free products and devices related to healthcare are increasing the demand for sterile medical packaging market considerably. Sustainability may also play a crucial role in boosting the growth of the sterile medical packaging market.
- COVID-19 is highly transmissible and has the potential to infect a large number of people at a time. One can see it from the rising cases daily worldwide. To prevent such transmissions, the demand for sterile medical packaging has increased substantially. Thus, the novel coronavirus pandemic is serving as a golden opportunity for the sterile medical packaging market.
- Nowadays, players are involved in producing sterile medical packaging that requires less material and energy for manufacturing. The increasing concerns about the use of plastic and novel regulatory guidelines for the manufacturing of plastic packaging types will enable the players in the sterile medical packaging market to produce sustainable packaging products. Technological advancements may also play a major role in expanding the growth landscape of the sterile medical packaging market.
The pharmaceutical & biological segment is expected to lead the sterile medical packaging market during the forecast period.
Based on application, the pharmaceutical & biological application is projected to lead the sterile medical packaging market. The growth of this segment can be attributed to the growing healthcare industry and the advent of new healthcare medicines. Technological advancements have optimized and integrated the sterile packaging process of pharmaceutical products and made it more capital-intensive. This process reduces the risk of contamination. The processing and packaging of pharmaceutical & biological products goes through various inspections, quality checks and ensures that they adhere to regulatory compliances about the drug contents and the material used in packaging.
The thermoform trays segment is expected to lead the sterile medical packaging market during the forecast period.
Based on type, the thermoform trays segment is projected to record the highest CAGR. These are versatile and easy to transport because of their low weight. Thermoformed trays are manufactured from plastics, come in a wide variety of shapes and sizes, and are equipped for internal use. Plastic trays have a highly versatile style of packaging design as the plastics used for trays can be molded to form different shapes by the thermoforming process. This versatility makes them advantageous for everything. Semi-rigid and flexible are two types of thermoform trays used in the healthcare industry.
The plastic segment is expected to account for the largest share of the sterile medical packaging market during the forecast period
The plastic sterile medical packaging segment is expected to lead the sterile medical packaging market. this growth can be attributed to its high consumption and increasing demand from end-users. Plastic polymers, such as HDPE, polyester, and polypropylene are used extensively in the manufacturing of bottles, vials & ampoules, and pre-filled syringes in the sterile medical packaging market.
North America is projected to be the largest consumer of the sterile medical packaging market
Based on the region, the sterile medical packaging market is segmented into Asia Pacific, the Middle East & Africa, North America, Europe, and South America. Among these, North America accounted for the largest share and is expected to witness the highest growth during the forecast period. This growth can be attributed to multiple regulations that are imposed by the FDA, which, in turn, is driving the demand for sustainable and high-quality products in this region. Moreover, owing to the presence of many major players and stringent FDA regulations, the market has become very competitive in the region.
Key players in the global sterile medical packaging market include Amcor Limited, Bemis Company, Inc., BillerudKorsnas AB, E.I. Dupont De Nemours and Company, Placon Co. Inc., ProAmpac LLC, Wipak Group, SteriPack Contract Manufacturing, Nelipak Healthcare Packaging, Deufol Group, Oracle Packaging, Sonoco Plastics Company, Puracon GmbH, GS Medical Packaging Inc., Westfield Medical Limited, Sabre Medical, UFP Technologies Inc., Oliver Healthcare Packaging LLC, Heritage Pioneer Corporate Group, and GY Packaging
Based on the application:
- Pharmaceutical & biological
- Surgical & medical instruments
- In vitro diagnostic products
- Medical implants
Based on Type:
- Thermoform trays
- Sterile bottles & containers
- Vials & ampoules
- Pre-fillable inhalers
- Sterile closures
- Pre-filled syringes
- Blister & clamshells
- Bags & pouches
Based on Material:
- Paper & paperboard
Based on region:
- North AmericaDirect Purchase this Market Research Report Now @ https://www.trendsmarketresearch.com/checkout/13649/Single
- Asia Pacific
- Rest of World
- Latin America
- Middle East & Africa
This report focuses on sterile medical packaging market includes crucial information on market share, market size, and growth rate for the forecast period 2021 to 2030 at the global level, regional level and company level. From a global perspective, this report represents overall sterile medical packaging market size by analyzing historical data and future prospect. The study highlights deep analysis on the major drivers of the market, restraints, and challenges to help the business owners, suppliers, and marketing personnel in planning effective strategies for the forecast period. This will help the business and manufacturers to lead the market and gain prominent position in future. The report also presents vital information through graphical representation on factors like table, charts, and statistics. The study includes drivers and restraints of the global sterile medical packaging market.
The research not only conducts forecasts in terms of value, but also evaluates the market on the basis of essential parameters, such as Year-on-Year (Y-o-Y) growth. This helps providers to recognize the future opportunities as well predictability of the market.
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This post was originally published on Downey Magazine