Rockville, Jan. 03, 2023 (GLOBE NEWSWIRE) -- As per a new industry analysis by Fact.MR, a market research and competitive intelligence provider, the global sterile medical packaging market is valued at US$ 44.22 billion in 2023 and is predicted to reach US$ 86.99 billion by the end of 2033.
A sterile barrier solution known as sterile medical packaging creates an aseptic surface in the product and acts as a microbial barrier. They offer a robust microbiological barrier throughout the product’s life cycle to maintain the sterility of medication and medical equipment. Sterile medical packaging is widely accessible and comes in the form of bottles, pouches, and packaging trays.
Some of the major and crucial factors that will probably boost the growth of the sterile medical packaging market during the anticipated timeframe include the rapidly developing healthcare industry, the rising rate of the global geriatric population (who are more prone to several disorders), the rising demand for medical devices and surgical equipment, increasing respective governments effort to develop the level of infection control and rising prevalence of favourable healthcare policies.
Plastic is an excellent material for moulding into a variety of shapes, and its high barrier qualities make it ideal for sterile medical packing. Thus, the demand for plastic sterile medical packaging is increasing rapidly.
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Top manufacturers of sterile medical packaging are focusing on the very lucrative Asia Pacific region to boost their market share and financial earnings. India, China, Japan, and South Korea are some of the highest profit-earning marketplaces. The healthcare sector in the Asia Pacific region is developing rapidly as a result of these countries' persistent attempts to promote domestic pharmaceutical manufacturing.
Key Takeaways from Market Study
- Global demand for sterile medical packaging solutions is expected to increase at a CAGR of 7% from 2023-2033.
- China’s market is predicted to expand at a CAGR of 12% during the projected period.
- Sales of plastic sterile medical packaging materials are expected to rise at a CAGR of 8% during the forecast period.
- Demand for glass sterile medical packaging materials is predicted to increase at a CAGR of 7% during the next 10 years.
“Emergence of smart packaging solutions and rising prevalence of contagious disorders are expected to boost the sales of sterile medical packaging materials,” says a Fact.MR analyst.
Winning Strategy
With the presence of leading companies, the market for sterile medical packaging is moderately competitive. Leading businesses are heavily spending on R&D to enhance their products and techniques. Top market players are also adopting various tactics such as new product launches, mergers, and acquisitions.
- Huhtamaki announced the release of their PeelGrid solution for sterile packaging in 2019. This product can be used as a lidding film and a pouch. PeelGrid serves as a barrier to air and microbes.
Key Companies Profiled
- Bemis Co., Inc.
- DowDuPont, Inc.
- Oracle Packaging
- Placon Corporation
- Riverside Medical Packaging Co., Ltd.
- SteriPack Group
- West Pharmaceutical Services, Inc.
- Wipak Oy
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Key Segments of Sterile Medical Packaging Industry Research
- By Material:
- Plastic
- Glass
- Metal
- Paper & Paperboard
- By Type:
- Thermoform Trays
- Sterile Bottles & Containers
- Sterile Closures
- Pre-fillable Inhalers
- Pre-fillable Syringes
- Vials & Ampoules
- Blisters & Clamshells
- Bags & Pouches
- Wraps
- By Application:
- Pharmaceuticals & Biologics
- Surgical & Medical Instruments
- In-vitro Diagnostic Products
- Medical Implants
- By Sterilization Method:
- Chemical Sterilization
- Radiation Sterilization
- High Temperature/Pressure Sterilization
- By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- East Asia
- South Asia & Oceania
- MEA
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global sterile medical packaging market, presenting historical demand data (2018-2022) and forecast statistics for the period of 2023-2033.
The study divulges essential insights on the market based on material (plastic, glass, metal, paper & paperboard), type (thermoform trays, sterile bottles & containers, sterile closures, pre-fillable inhalers, pre-fillable syringes, vials & ampoules, blisters & clamshells, bags & pouches, wraps), application (pharmaceuticals & biologics, surgical & medical instruments, in-vitro diagnostic products, medical implants), and sterilization method (chemical sterilization, radiation sterilization, high temperature/pressure sterilization), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
Check out more related studies published by Fact.MR Research:
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Biodegradable Packaging Material Market: The global biodegradable packaging materials market is estimated at USD 88 Billion in 2022 and is forecast to surpass USD 169 Billion by 2032, growing at a CAGR of 6.8% from 2022 to 2032. The global biodegradable packaging materials market accounts for ~9% of global packaging market in 2022
Packaging Robots Market: Expanding at a CAGR of 7%, the global packaging robots market is expected to increase from a valuation of US$ 3.8 billion in 2022 to US$ 7.5 billion by the end of 2032. Demand for vacuum grippers is forecasted to increase faster at a CAGR of 8% through 2032
Blister and Other High Visibility Packaging Market: The global blister and other high visibility packaging market is estimated to expand at a CAGR of 6.6% and reach a valuation of US$ 95 billion by 2033, up from US$ 50 billion in 2023. Packaging is one of the fastest expanding industries that is constantly changing based on demand from end users and consumers
Medical Flexible Packaging Market: The global medical flexible packaging market is estimated at USD 25.7 Billion in 2022 and is forecast to surpass USD 40.9 Billion by 2032, growing at a CAGR of 4.7% from 2022 to 2032. The global medical flexible packaging market accounts for ~30% of the global medical packaging market in 2022.
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