Sterile Medical Packaging Market

Sterile Medical Packaging Market Size Analysis

According to a research survey conducted by ChemView Consulting, in 2022, the Global Sterile Medical Packaging Market was worth US$ 40.9 Bn and is expected to grow at a CAGR of 7.7% over the forecast period. The market is expected to hit US$ 74.1 Bn by 2030 end.

The term “sterile packaging” refers to a type of container in which the product is to be packaged. The container is first individually sterilized before being mixed to preserve the sterilized environment. Aseptic packing or aseptic processing are common names for it.

The transmission of Covid fatal illness is largely being stopped because of sterile medical packaging. To prevent the virus from spreading, sterile medical packaging tools such as pouches, clamshell packaging containers, wraps, thermoformed trays, and several other goods are employed. During the pandemic, the sterile medical packaging industry had extremely encouraging growth.

Market Dynamic

THE HEALTHCARE SECTOR DRIVES THE MARKET GROWTH

One of the main reasons propelling the worldwide market for sterile medical packaging is the healthcare sector’s phenomenal rise. The healthcare sector has seen an increased demand for sterile medical packaging solutions during the coronavirus epidemic. Developing nations are investing in healthcare to meet the rising medical equipment and supply demand. The market for sterile medical packaging is expanding due to the increased need for flexible and effective packaging solutions for medical supplies.

The worldwide market for sterile medical packaging is driven by increased government expenditure on healthcare, bettering healthcare infrastructure, and expanding awareness of surgical techniques utilizing cutting-edge technology. The demand for high-quality sterile medical packaging solutions is rising as surgical operations, and cardiovascular disease rates increase globally.

STRINGENT GOVERNMENTAL REGULATIONS HAMPER THE MARKET GROWTH

The manufacture of sterile packaging is subject to strict regulatory criteria, which are developed and implemented. These requirements guarantee that the environment or other circumstances won’t harm the packed equipment and gadgets.

Various packaging processes must comply with regulations, including material selection, design certification, testing and control, and process validation. These restrictions are intricate and provide significant difficulties.

COVID-19 Impact

The sterile medical packaging sector was one of the only segments of the packaging industry to experience increased demand during the COVID-19 epidemic. During the pandemic, a sharp increase in the market for and supply of pharmaceutical medications, vaccinations, and medical equipment was seen worldwide.

Segment-Wise Analysis

By Product Type:

• • Thermoformed Trays
  • Clamshell
  • IV Containers & Bags
  • Sterile Lid
  • Pouches
  • Die-cut Baker Cards
  • Guided Wire Hoops
  • Sterile Wraps
  • Others

By Material Type:

• Plastic
• Paper
• Foil
• Non-woven
• Foam Sheets

By End Use:

• Medical Disposable Supplies

• • • Surgical Preparation Kits
    • Sutures & Catheters
    • Pre Packaged Medical Supplies

• • Medical Equipment

• • • Cardiovascular

• • • • Electrophysiology
      • Peripheral Vascular

• • • Neurovascular
    • Endoscopic
    • Orthopedic
    • Ophthalmology
    • Injection System
    • Electrosurgical Accessories
    • Others

By Region and Country:

• North America (U.S., Canada)
• Latin America (Brazil, Mexico, Rest of Latin America)
• Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
• Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
• Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
• Africa (South Africa, Nigeria, Egypt, Rest of Africa)

Why are die-cut baker cards type Sterile Medical Packaging projected to have the highest CAGR?

The most profitable product type among the others is expected to be die-cut baker cards. During the projection period, the die-cut baker cards product type sector is anticipated to increase at a CAGR of 6.5%. Die-cut baker cards are predicted to experience substantial growth in the near future since they are more affordable and environmentally friendly than the alternatives currently on the market.

Which material type segment is expected to grow the fastest during the forecast period?

Over the next ten years, the plastics sector is expected to present an incremental potential of around US$ 3.0 Bn. Plastic is an excellent material for molding into various forms, and its strong barrier qualities make it ideal for sterile medical packing.

Which region will have the largest market share during the forecast period?

Due to the region’s growing elderly population, improvements in the healthcare and pharmaceutical sectors, and rise in surgical procedures, Asia Pacific presents significant growth possibilities for market participants in sterile medical packaging. The region is expected to hold a market share of 34.0%.

India and other Asian nations are projected to control the industry due to their fast-growing healthcare infrastructure. Growing regional pharmaceutical research and development spending is projected to stimulate market expansion.

Competition Analysis

The world’s largest, middle-sized, and small-sized producers compete in a highly fragmented market for sterile medical packaging. Consequently, the worldwide market for sterile medical packaging is extremely competitive due to manufacturers’ ongoing attempts to broaden their geographic reach and product line to increase market share.

Some of the key developments that have taken place in the Sterile Medical Packaging Market include:

• In April 2021, Building on its recent innovations to provide recyclable packaging, Amcor announced consumer testing of the world’s best recyclable polyethylene-based thermoform blister packaging.
• In September 2021, To assure the sterility and integrity of the items, Nelipak Laboratory Services performed Package Integrity Testing. All manufacturers are quite concerned about package integrity. Still, producers of medical devices are particularly concerned since the sterility and integrity of products can significantly influence patients’ health.

A list of some of the key suppliers present in the market are:

• Orchid Chemicals and Pharmaceuticals Ltd
• Amcor Ltd
• West Pharmaceuticals Services Inc.
• Oliver Tolas Healthcare Packaging
• MULTIVAC Sepp Haggenmueller SE and Co KG
• Bemis Company Inc.
• Steripack Ltd
• Oracle Packaging Inc.
• Riverside Medical [Packaging Company
• Janco Inc
• Selenium Medical
• DuPont De Nemours and Company
• Wipak Walsrode Gmbh and Co.
• Placon Corporation

Global Sterile Medical Packaging Market 2022-2030: Report Coverage and Highlights

• Assessment of the historical and current market size (2017-2021), market projections (2022-2030), and its contribution to the parent market
• Key drivers, restraints, opportunities, and key emerging trends impacting market growth
• Predictions on critical supply, demand, and technological trends and changes in consumer behavior
• Value chain analysis (list of manufacturers, distributors, end-users, average profitability margins, etc.)
• Segment-wise, country-wise, and region-wise market analysis
• Competition mapping, market share analysis, key strategies adopted by top players, and competitive tactical intelligence
• Key product innovations and regulatory framework
• Covid-19 impact on the market and how to navigate
• Strategic market analysis and recommendations on crucial winning strategies