The global sterile medical packaging market accounted for a value of USD 32.3 billion in 2019. global sterile medical packaging market projected to register growth at a CAGR of 4.7% during forecast period.
COVID-19 has impacted all the businesses over the globe. Sterile medical packaging market has been impacted by this global pandemic. The outbreak of corona virus has lead to rise in demands of hygienic and improved medical devices to control spread of disease and to prevent contamination among patients. The demand for masks, medical devices, syringes and medical supplies etc. are increasing immensely due to COVID-19 and this result in rise in requirement of their packaging. The demand for sterile medical package is increasing and market will witness growth due to COVID-19.
For more details, visit: Global Sterile Medical Packaging Market By Type (Wraps, Thermoform Trays, others), By Material (Metals, Plastics, Others), By End User (Medical Implants, Pharmaceutical & Biological, Others), By Region–Forecast & Opportunities to 2026
The adoption and demand for sterile medical packaging is growing across end-user industries. The use paper & paperboard and plastics for packaging provide various advantages such as longevity, recyclability and low weight and it also protect content inside it from damage by environmental conditions. This results in growth of sterile medial packaging during forecast period.
On the basis of type, the sterile medical packaging market is segmented into sterile bottles & containers, thermoform trays, vials & ampoules, sterile closures, pre-fillable inhalers, pre-filled syringes, blister & pouches, wraps and others. The thermoform trays segment is estimated to register growth at highest CAGR in the sterile medical packaging market during forecast period. The thermoform trays are easy to transport, low weight and are very versatile in nature. These trays are manufacture from plastics in various shapes and sizes. They are widely used for packaging purposes as they can be molded into different shapes. They are very beneficial for sterile medical packaging. This drives growth in thermoform tray segment during forecast period.
On the basis of material, the sterile medial packaging market is segmented into metals, plastics, glass, paper & paperboard and others. The plastic segment is estimated to hold largest market share during forecast period. The plastic sterile medial packaging is highly consumed by various end-users. Plastic polymers such as polypropylene, polyester and HDPE are used for making ampoules and vials, bottles and pre-filled syringes in this packaging. The demand for sterile medial packaging is increasing across the world. This drives growth in sterile medial packaging market during forecast period.
On the basis of application, the sterile medical packaging market is segmented into pharmaceutical & biological, in vitro diagnostic products, medical implants, surgical & medical instruments and others. The pharmaceutical & biological application is estimated to register growth at highest CAGR during forecast period. The advancement in technologies has increased the demands for sterile medical packaging across the pharmaceutical industry. The sterile medical packaging helps in reducing risk of contamination and it clears all the inspection and quality checks. It meets all the norm and regulatory set by governments. This drives growth in pharmaceutical & biological segment during forecast period.
The North America region is estimated to hold largest market share during forecast period. The FDA in North America has imposed several regulations due to which the demand for high quality and sustainable products is growing. The sterile medical packaging meets all the regulations imposed by various bodies. This drives growth in this region in sterile medical packaging market during forecast period.
The key market players in sterile medical packaging market are 3M Company, Amcor Ltd., Dupont de Nemours Inc., West Pharmaceuticals services, Sonoco Products Company, Steripack Ltd., Wipak Group, Palcon Corporation, Riveside Medical Packaging Company, Oracle Packaging Inc., Nelipk Heal Thcare Packaging, Oliver Healthcare packaging, Technipaq Inc. and Janco Inc.
- What are the expected industry trends over the next three to five years?
- Which of the sterile medical packaging type is likely to lead by 2025?
- Which of the end-user segments is expected to have the maximum potential to during the forecast period?
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- What are different organic and inorganic strategies implemented by companies to gain increased market share?