Pune, India, May 31, 2021 (GLOBE NEWSWIRE) -- The global sterile medical packaging market size is set to gain momentum from the increasing prevalence of various contagious diseases, such as SARS, tuberculosis, flu, cold, and COVID-19. In June 2020, for instance, Placon broadened its production capacity of thermoforming in Indiana to meet the high demand for this type of medical packaging amid the COVID-19 pandemic. This information is given by Fortune Business Insights™ in a report, titled, “Sterile Medical Packaging Market, 2021-2028.” As per the report, the market size was USD 35.74 billion in 2020 and is projected to reach USD 68.49 billion by 2028, exhibiting a CAGR of 8.1% during the forecast period.
COVID-19 Pandemic: Rising Demand for PPE and Diagnostic Tests to Propel Growth
The COVID-19 pandemic has severely affected the healthcare industry owing to the shortage of beds and drugs required to treat the infection. The industry is persistently striving to keep up with the stringent government norms in terms of safety and hygiene. The demand for medical ventilators, PPE, and diagnostic tests has also surged rapidly. Hence, the urgent need for sterile medical packaging has also increased. Based on our experience, we will deliver an impact analysis of COVID-19 across various industries to help you prepare for the future.
List of the Leading Companies Profiled in the Global Sterile Medical Packaging Market are:
- Amcor Plc (Switzerland)
- Placon (U.S.)
- DuPont (U.S.)
- Steripack Ltd. (Ireland)
- Wipak Group (Finland)
- Nelipak Healthcare (U.S.)
- Tekni-Plex (U.S.)
- Sonoco (U.S.)
- BillerudKorsnäs AB (Sweden)
- ProAmpac (U.S.)
- West Pharmaceutical Services, Inc. (U.S.)
- Riverside Medical Packaging Company Ltd (UK)
- Oliver Healthcare Packaging (U.S.)
- GS Medical Packaging (Canada)
- Orchid (U.S.)
- Technipaq Inc. (U.S.)
- Others
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Key Segmentation:
Pharmaceutical & Biological Segment to Dominate Stoked by Rising Cases of Contagious Diseases
Based on the material, the market is divided into plastics, glass, metal, paper & paperboard, and others. By type, it is segregated into thermoform trays, sterile bottles & containers, vials & ampoules, pre-fillable inhalers, sterile closures, prefillable syringes, blister & clamshells, bags & pouches, wraps, and others.
Based on the sterilization method, it is segmented into chemical sterilization, radiation sterilization, and high temperature/pressure sterilization. Lastly, by the application, it is categorized into pharmaceutical & biological, surgical & medical instruments, in-vitro diagnostic products, medical implants, and others. Out of these, the in-vitro diagnostic products segment earned 11.9% in terms of the sterile medical packaging market share in 2020. The pharmaceutical & biological segment is set to dominate in the near future because of the rising cases of non-contagious and contagious diseases among people.
Report Coverage:
We aim to provide the best market research solutions under one roof to help our clients choose the right strategy as per their requirements. Our syndicated or custom reports deliver accurate statistics and comprehensive analysis of revenue. The competitive landscape section contains detailed profiles of prominent players. They also include company descriptions, revenue, and sales generated in the sterile medical packaging business.
Drivers & Restraints:
Ability to Act as a Superior Microbial Barrier to Bolster Growth
The rising incidence of contagious diseases, increasing usage of new rules and regulations by government bodies, and surging population are the major factors set to drive the sterile medical packaging market growth in the upcoming years. Also, these products possess various beneficial properties, such as durability and superior microbial barrier. However, the production of sterile medical packaging revolves around certain stringent regulatory standards, such as EN ISO 11607 (part 1 and part 2). It may hinder market growth.
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/sterile-medical-packaging-market-102798
Regional Insights:
Rising Healthcare Infrastructure to Help North America Dominate: Fortune Business Insights™
Geographically, North America generated USD 12.79 billion in terms of revenue in 2020 and is expected to remain at the forefront in the near future. The U.S. is the major growth contributor because of the presence of a well-established pharmaceutical industry and the rising healthcare expenditure.
On the other hand, Europe is anticipated to remain in the second position backed by the increasing usage of medical equipment, namely, pre-fillable syringes, thermoform trays, vials & ampoules, and sterile bottles & containers. In the Asia Pacific, the surging consumer awareness and rising population, especially in India, Japan, and China would bolster the demand for sterile medical packaging.
Competitive Landscape:
Key Players Focus on Acquisitions and Capacity Expansions to Intensify Competition
The market is semi-consolidated with only 15 companies in the leading position. They are majorly focusing on mergers and acquisitions to gain a competitive edge. A few of them are striving to keep up with the high demand for their products owing to the COVID-19 pandemic. Hence, they are broadening their production capacities.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Key Developments: Capacity Expansions, Acquisitions, Partnerships, etc.
- Latest Technological Advancement
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
- Qualitative Insights on Impact of COVID-19 on Global Sterile Medical Packaging Market
- Supply Chain Analysis & Challenges
- Steps taken by Government / Companies to Overcome this Impact
- Potential Challenges and Opportunities due to COVID-19 Outbreak
- Global Sterile Medical Packaging Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Material (Value)
- Plastics
- Glass
- Metal
- Paper & Paperboard
- Others
- By Type (Value)
- Thermoform Trays
- Sterile Bottles & Containers
- Sterile Closures
- Pre-Fillable Inhalers
- Pre-Fillable Syringes
- Vials & Ampoules
- Blister & Clamshells
- Bags & Pouches
- Wraps
- Others
- By Sterilization Method (Value)
- Chemical Sterilization
- Ethylene Oxide (EtO)
- Hydrogen Peroxide
- Others
- Radiation Sterilization
- Gamma Radiation
- E-beam
- Others
- High Temperature/Pressure Sterilization
- Steam Autoclave
- Dry Heat
- Chemical Sterilization
- By Application (Value)
- Pharmaceutical & Biological
- Surgical & Medical Instruments
- In-Vitro Diagnostic Products
- Medical Implants
- Others
- By Region (Value)
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
- By Material (Value)
TOC Continued…!
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Below are the two latest industry developments:
- June 2019: Kohlberg & Company, L.L.C. declared the acquisition of Amcor’s Bemis Healthcare Packaging Europe. The latter is set to merge with Nelipak Corporation, Inc. This new deal would help the company to extend its geographic presence in the industry.
- November 2019: Sonoco signed an agreement to acquire Plastique Holdings, LTD and Thermoform Engineered Quality for USD 187 million. This acquisition would help the former to expand its surging healthcare packaging business.
Have a Look at Related Research Insights:
Pharmaceutical Packaging Market Size, Share & COVID-19 Impact Analysis, By Material (Plastics, Glass, Metal, Paper & Paperboard,), By Product (Plastic Bottles, Caps & Closures, Pre-Fillable Inhalers, Pre-Fillable Syringes, Vials & Ampoules, Blister Packs, Bags & Pouches, Jars & Canisters, Cartridges,), By Packaging Type (Primary, Secondary, and Tertiary), By Drug Delivery Mode, and Regional Forecast, 2020-2027
Sterilization Pouches Market Size, Share & Industry Analysis, By Type (Sterilization Pouches {Paper Pouches, Plastic Pouches}, Sterilization Wrapping, Sterilization Containers and Others), By Application (Hospitals, CSSDs, Clinics & and Others) and Regional Forecast, 2020-2027
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