Coherent Market Insights published a business research report on Sterile Medical Packaging Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2023–2030. Sterile Medical Packaging Market with 150+ market data Tables, Pie Chat, Graphs & Figures spread through Pages and easy to understand detailed analysis. The information is gathered based on modern floats and requests identified with the administrations and items.
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The market for sterile medical packaging was estimated at USD 47.97 billion in 2021, and it is projected to increase at a CAGR of 9.86% from 2022 to 2030. The demand for sterile medical packaging is being driven by the spread of infectious diseases throughout the world. By using the goods, patients are protected from touching contaminated equipment. The packaging aids in limiting the transmission of infectious diseases and the subsequent dangers to people’s health. People and animals can spread infectious diseases to each other quite frequently. In the upcoming years, sterile medical packaging is expected to keep expanding. On safer approaches to sterilisation, some market participants are concentrating. The products are sterilised before being packaged.
Global Sterile Medical Packaging Market: Regional Insights
Due to its rising ageing population, expanding healthcare spending capacity, accessibility to cutting-edge medical delivery systems, and overall gross domestic product (GDP) levels, North America is anticipated to dominate the global market for sterile medical packaging over the course of the forecast period. The expansion of the regional market is also anticipated to be fueled by key companies’ growing investment in sterile medical packaging. For instance, packaging compliance labs LLC stated in May 2020 that it would spend USD 2.57 million to expand its headquarters in the greater Grand Rapids region. The Michigan Strategic Fund awarded a grant of USD 135,000 for the project to the engineering, testing, and sterile packaging for medical devices company. The packaging business’s expansion considerably aids in the development of the local market.
The rising pharmaceutical sector in nations like China and India is also expected to contribute to Asia Pacific experiencing the greatest growth in the worldwide market over the forecast period. The Indian Economic Survey 2021 forecasts a triple increase in the market during the following ten years. Indian pharmaceutical sales are projected to reach USD 42 billion in 2021, USD 65 billion in 2024, and USD 120–130 billion in 2030.
Global Sterile Medical Packaging Market Drivers:
The sterile medical packaging industry is expanding primarily as a result of stringent regulations pertaining to the prevention of infection. The International Health Regulations (IHR), for example, identified infection prevention and control (IPC) as a key tactic for addressing hazards to public health that are of concern internationally. More recently, the Sustainable Development Goals (SDG) of the United Nations (UN) highlighted the significance of IPC as a contributor to the delivery of safe, efficient, high-quality health services, particularly those connected to water, sanitation, and hygiene (WASH) and to quality and universal health coverage.
Market expansion is being driven once more by increasing capacity utilisation in the pharmaceutical sector. For instance, the Times of India Report claims that by the end of India’s third lockdown phase in 2020, pharmaceutical manufacturing facilities were operating at 50–60% of their potential. According to the GSK Company, its factory in Nashik was operating at 100% capacity, and its contract manufacturing facilities would be operating at 60-65% capacity in May 2020, up from 30-35% just a few weeks earlier.
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Global Sterile Medical Packaging Market Opportunities:
Key manufacturers are being promoted by the rise in demand of glass vials, ampoules, and containers to increase production of this packaging material. Key market participants should expect expansion prospects as a result of this. For illustration, the Japanese business Arglass Yamamura LLC stated in August 2019 that it will be investing an estimated 123 million dollars in the construction of the manufacturing facility in South Georgia. Additionally, the Covid-19 pandemic epidemic has created fresh prospects for innovation.
The need for biodegradable packing options for medical devices is growing in response to growing environmental concerns. As a result, the European Union funded HyperBioCoat project developer developed new biodegradable hybrid organic-inorganic coatings for food, cosmetics, and medical device packaging. A coating material based on biopolymers was produced from lignocellulosic biomass by combing biopolymers with the materials class of bioORMORCEs. The bioORMORCEs coating were created by the Fraunhofer Institute for Silicate Research and bio based and biodegradable. The creation of such biodegradable packaging option will soon present lucrative commercial prospects.
Global Sterile Medical Packaging Market Trends:
Recent innovation like the Blow-flow-seal technology are gaining favour in the market because they provide a rare mix of packing design freedom, high levels of sterility assurance, and cheap operational costs. On account of the rising demand for proteins, biologics and other complicated solutions, this technology has also attracted attention.
To improve the capacity for sterile Covid-19 vaccine manufacture and packaging, several important players are forming partnership and agreement. In the market, this component is operating as a trend. For illustration, Catalent increased the scope of its collaboration with Johnson and Johnson on March 2021 to greatly boost Italy’s capacity for the sterile production and packaging of the Covid-19 vaccine. Johnson and Johnson Companies, wherby Catalent Biologics would considerably boost the manufacturing capacity for large-scale commercial supply of Janssen’s covid-19 vaccine at Catalent’s manufacturing plant in Angari, Italy, including vial-filling, inspection, labelling, and packaging services.
Global Sterile Medical Packaging Market Restraints:
One of the key factors limiting the market growth to some extent is the difficulties involved with maintaining the integrity of medical packaging.
Another important factor that is anticipated to restrain the market expansion is the rising environmental concern about the usage of plastic to packaging material. For more than 50 years, PVC (vinyl) has been extensively utilised in the medical industry. Additionally rigorous testing is done on plastics to make sure they are safe and suitable for the intended use.
Global Sterile Medical Packaging Market Segmentation:
The material type, product type, application type and region segments are included in the report on the worldwide sterile medical packaging market.
Plastics, Paper and Paperboard, Glass, and Other Types are the market segments based on material type. Out of them, Plastics is anticipated to dominate the global market over the course of the forecast period. This is because more and more IV tubing and blood bags are being made of plastic. When packaging medical devices and medications, PVC is the most popular plastic utilised.
Glass segment, since glass is the most typical packaging material used in the packaging of medications and other pharmaceutical formulations, the glass segment is also anticipated to experience considerable expansion in the near future. Glass also doesn’t leak, which helps to avoid contaminating pharmaceutical things.
The market is split into Thermoform Trays, Sterile Bottles and Containers, Pouches and Bags, Blister Packs, Vials and Ampoules, Pre-filled Syringes, and Wraps based on the kind of product. Out of these, Thermoform Trays are anticipated to rule the global market during the anticipated time frame. This is because they are lightweight and versatile, making them simple to carry. They come in a range of sizes and forms and are made of plastic.
Sterile Bottles and Containers segment due to the strong demand for nasal spray bottles, eye drops, and eye washes, the segment of sterile bottles and containers is also anticipated to have considerable growth in the near future. In contrast to 2019, when 112.87 million people used eye drops and eyewash, 117.45 million people did so in 2020, according to data from the US Census and the Simmons National Consumer Survey (NHCS). By the end of 2024, this figure is projected to rise as a result of rising consumer knowledge of the advantages of ophthalmic medications. Additionally, the prevalence of sinusitis in the United States is contributing to an increase in the market for nasal spray bottles.
Pharmaceuticals, Surgical, and Medical Appliances are the market segments based on application type. Out of these, the pharmaceutical sector is predicted to rule the world market over the projection period, which is due to the globalisation of the pharmaceutical business. More processing and packaging solutions are required as the incidence of chronic diseases including cancer, diabetes, and cardiovascular disease rises.
Surgical and Medical Appliances segment as surgical operations increase globally, the market is projected to develop significantly in the near future.
Global Sterile Medical Packaging Market: Key Developments
In February 2020, Amcor has established a cooperation with the Healthcare Plastics Recycling Council (HPRC), a group of industry peers from the healthcare, recycling, and waste management sectors who are working to improve the ability of plastic products used in the healthcare sector to be recycled. Amcor will assist the alliance with its wide knowledge of applications for medical device packaging in hospitals and other treatment facilities. The goal of the industry organisation is to address every aspect of the packaging value chain, from packaging design through collection methods and end markets.
In April 2021, the new AmSky blister system, which offers child-resistant and senior-friendly (CRSF) recyclable solutions for pharmaceutical packaging, was introduced by Amcor PLC. It replaces PVC with a Polyethylene (PE) thermoform blister and lidding film, eliminating the need for PVC altogether.
In August 2021, two new cutting-edge innovation centres will be built, according to Amcor. Midway through 2022 is when the new buildings in Ghent, Belgium, and Jiangyin, China, are anticipated to be fully functioning. An estimated USD 35 million will be invested in total.
In December 2021, a merger deal between Verso Corporation and BillerudKorsnäs was announced. The business agreed to pay USD 825 million in cash to acquire Verso, a well-known North American manufacturer of coated sheets.
Global Sterile Medical Packaging Market: Key Companies Insights
The market for sterile medical packaging on a global scale is very cutthroat. This is linked to the continued R&D efforts made by value chain participants as well as the continuous introduction of new technology. In order to increase their footprint on a regional and worldwide scale, significant players are also implementing a variety of corporate growth tactics. Major players in worldwide Sterile Medical Packaging market are Nelipak Healthcare, 3M Co. (3M Packaging), Technipaq Inc., DWK Life Sciences GmbH, Sonoco Products Company, BillerudKorsnäs AB, Tekni-Plex Inc., Riverside Medical Packaging Company Ltd, Placon Corporation, Wipak Group, Steripack Ltd, Dupont De Nemours Inc., and Amcor PLC.
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Table of Content
Chapter 1 Industry Overview
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Global Sterile Medical Packaging Market Size Analysis from 2023 to 2030
11.6 COVID-19 Outbreak: Sterile Medical Packaging Industry Impact
Chapter 2 Global Sterile Medical Packaging Competition by Types, Applications, and Top Regions and Countries
2.1 Global Sterile Medical Packaging (Volume and Value) by Type
2.3 Global Sterile Medical Packaging (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Global Sterile Medical Packaging Sales, Consumption, Export, Import by Regions (2018-2023)
Chapter 5 North America Sterile Medical Packaging Market Analysis
Chapter 6 East Asia Sterile Medical Packaging Market Analysis
Chapter 7 Europe Sterile Medical Packaging Market Analysis
Chapter 8 South Asia Sterile Medical Packaging Market Analysis
Chapter 9 Southeast Asia Sterile Medical Packaging Market Analysis
Chapter 10 Middle East Sterile Medical Packaging Market Analysis
Chapter 11 Africa Sterile Medical Packaging Market Analysis
Chapter 12 Oceania Sterile Medical Packaging Market Analysis
Chapter 13 South America Sterile Medical Packaging Market Analysis
Chapter 14 Company Profiles and Key Figures in Sterile Medical Packaging Business
Chapter 15 Global Sterile Medical Packaging Market Forecast (2023-2030)
Chapter 16 Conclusions
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