Rising occurrence of infectious diseases, increasing demand for sterile and hygienic medical packaging, and the growing geriatric population are predicted to stimulate the global market growth in the coming years
New York, December 09, 2021 –The global sterile medical packaging market size is expected to grow from USD 37.1 billion in 2020 to a staggering USD 76.1 billion in 2028, demonstrating a CAGR of 9.7% throughout the forecast period. The growth of the global market is primarily accredited to the surging prevalence of acute and chronic disorders, increasing incidences of contagious diseases, enhanced safety standards for medical packaging, and technological enhancements in medical packaging techniques. Sterilization plays a vital role in medical packaging as it offers a strong barrier against bacterial or microbial transmission. Hence, non-reusability and a robust microbial barrier make sterile medical packaging the safest and most effective form of medical packaging. This type of packaging safeguards the packed medical or pharmaceutical product from heat, moisture, and extreme environmental conditions. Sterile medical packaging is made of materials such as plastic (including LDPE, HDPE, PVC, etc.), metal, glass, and paper & paperboard. Moreover, the most prominent characteristics of sterile medical packaging are enhanced durability, robust tear resistance, extended shelf life, and microbial barrier.
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The global sterile medical packaging market growth is further propelled by the higher susceptibility of infants and the elderly population to infectious diseases, rapidly increasing rate of outpatient visits and hospital admissions, growing number of surgical procedures, and the soaring demand for sterile and disinfected medical equipment. The expanding transportation & logistics sector and rising shipments of pharmaceutical products create plenty of opportunities for the growth of the global sterile medical packaging market. However, the market growth is hampered by the rigid norms set by regulatory bodies like the U.S. FDA regarding sterile medical packaging.
Key Highlights of the Report:
- On the basis of type, the thermoform trays segment is expected to emerge as the leading market segment over the projected timeframe. The versatile design, superior flexibility, and excellent biocompatibility of thermoform trays make them a brilliant packaging solution. These trays protect the packed pharmaceutical product against damage or breakage. They are highly customizable and can also be molded into various shapes and sizes.
- Based on material, the plastic segment is projected to account for the highest market revenue in the upcoming years. The growth of this segment is attributed to the escalating demand for high-performance polymers, such as LDPE, HDPE, PVC, and PET, for the production of blood containers, vials & ampoules, pre-filled syringes, sterile bottles, closures, and pouches.
- Of the leading market regions, the North America sterile medical packaging market retained the largest share of the global market in 2020. The rapid spread of COVID-19 and other contagious diseases, rising public awareness the importance of health & hygiene, technological advancements in medical packaging, and augmented consumer spending on healthcare products have propelled the region’s market growth.
- The well-established companies involved in the global sterile medical packaging market include Amcor Plc, DuPont, Sonoco, ProAmpac, Tekni-Plex, Techinipaq Inc., Steripack Ltd., Wipak Group, Nelipak Healthcare, GS Medical Packaging, and Oliver Healthcare Packaging.
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For the purpose of this report, the global sterile medical packaging market has been segmented based on type, material, application, sterilization method, and region:
By Type (Revenue, USD Billion; 2018-2028)
- Sterile bottles
- Sterile closures
- Thermoform trays
- Vials & ampoules
- Pre-filled syringes
- Pre-fillable inhalers
- Bags & pouches
- Blister & clamshells
By Material (Revenue, USD Billion; 2018-2028)
- Polyvinyl Chloride (PVC)
- High Density Polyethylene (HDPE)
- Low Density Polyethylene (LDPE)
- Stainless steel
- Aluminum foil
- Paper & paperboard
By Application (Revenue, USD Billion; 2018-2028)
- Surgical & medical equipment
- Pharmaceutical & biological
- In vitro diagnostic products
- Medical implants
By Sterilization Method (Revenue, USD Billion; 2018-2028)
- Chemical Sterilization
- Radiation Sterilization
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By Region (Revenue, USD Billion; 2018-2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of the Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- Rest of the Middle East & Africa
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Some points on how the report benefits stakeholders:
- The reports include historical (2018–2020) and forecast (2021–2028) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.
- Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2018 and 2028.
- The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.
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