Burlingame, Dec. 20, 2023 (GLOBE NEWSWIRE) -- Coherent Market Insights has published a recent study report titled "Sterile Medical Packaging Market Share, Size, Trends, Industry Analysis Report, By Material, By Product, By Application; By Region; Segment Forecast, 2022- 2030" in its research database.
As per the recent analysis by Coherent Market Insights, the global sterile medical packaging market size was valued at US$ 52.26 billion in 2022 and is predicted to reach US$ 109.28 billion by 2030. Also, the study states that the market reveals a robust 9.7% Compound Annual Growth Rate (CAGR) over the predicted timeframe, 2022-2030.
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Market Dynamics:
The sterile medical packaging market is driven by two main factors. Firstly, there is a rising concern regarding healthcare-associated infections (HAIs). HAIs pose a significant risk to patient safety and can result in increased morbidity, mortality, and healthcare costs. In order to reduce the risk of HAIs, healthcare facilities are increasingly adopting stringent infection control measures, including the use of sterile medical packaging for healthcare products and devices. Sterile medical packaging helps maintain the sterility of medical devices and protects them from contamination during transportation and storage. As a result, the demand for sterile medical packaging is increasing, driving the growth of the market.
Secondly, the increasing prevalence of chronic diseases is also contributing to the growth of the sterile medical packaging market. Chronic diseases, such as cardiovascular diseases, cancer, diabetes, and respiratory diseases, require long-term medical treatment, including the use of medical devices and pharmaceutical products. These products need to be properly packaged to maintain their sterility and integrity. Sterile medical packaging provides the necessary protection for these products, ensuring their safety and efficacy. As the prevalence of chronic diseases continues to rise, the demand for sterile medical packaging is expected to increase significantly.
Market Trends:
Increasing Adoption of Advanced Sterilization Technologies:
There is a growing trend towards the adoption of advanced sterilization technologies in the healthcare industry. Traditional sterilization methods, such as steam and ethylene oxide (EtO) sterilization, have limitations in terms of their effectiveness, efficiency, and safety. As a result, healthcare facilities are increasingly adopting advanced sterilization technologies, such as hydrogen peroxide gas plasma sterilization, ozone sterilization, and irradiation. These technologies offer advantages, such as shorter sterilization cycles, lower temperature requirements, and enhanced compatibility with a wide range of materials. The adoption of advanced
Growing Demand for Sterile Packaging in Pharmaceuticals
The pharmaceutical industry is witnessing significant growth globally, leading to an increased demand for sterile medical packaging. Sterile packaging is crucial for maintaining the integrity and efficacy of pharmaceutical products, protecting them from contamination and damage. The rising prevalence of chronic diseases, increasing healthcare expenditure, and the ongoing development of new drugs are driving the demand for sterile packaging in the pharmaceutical sector.
Plastics, especially polypropylene (PP), are the dominating material used for sterile medical packaging in the pharmaceutical industry. PP offers excellent barrier properties, durability, and compatibility with various sterilization methods, making it ideal for packaging pharmaceutical products. Additionally, thermoform trays are the most widely used product in this segment due to their versatility and ability to protect drugs during transportation and storage.
North America is expected to hold a dominant position in the sterile medical packaging market. The region has a well-established pharmaceutical industry and stringent regulations regarding packaging quality and safety. Moreover, the presence of key pharmaceutical manufacturers and contract packaging organizations further drives the demand for sterile packaging in North America.
Rising Adoption of Sterile Packaging in Surgical and Medical Appliances
Apart from the pharmaceutical sector, the adoption of sterile packaging is also increasing in the surgical and medical appliances segment. Sterile packaging plays a crucial role in ensuring the sterility and safety of surgical instruments, medical devices, and other healthcare products. With the growing emphasis on infection control and patient safety, healthcare providers are increasingly relying on sterile packaging to prevent cross-contamination and maintain product integrity.
In this segment, plastics, particularly polypropylene, remain the dominant material choice for sterile packaging. The versatility, durability, and ease of sterilization offered by plastics make them highly suitable for packaging surgical and medical appliances. Among the various products, thermoform trays are again the preferred choice due to their ability to provide secure packaging and easy access to the instruments or devices.
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Recent development:
In February 2020, Amcor announced a collaboration with the Healthcare Plastic Recycling Council, a coalition of industry peers from healthcare, recycling, and waste management who are working to improve the recyclability of plastic goods in the healthcare business.
In December 2021, Verso Corporation and Billerud Korsnas announced a merger agreement. The company agreed to pay US$ 35 million to buy Verso.
Key Market Takeaways:
The sterile medical packaging market is anticipated to witness a CAGR of 9.7% during the forecast period 2023-2030, owing to the increasing demand for sterile packaging in various sectors. In the pharmaceutical segment, plastics, especially polypropylene, are expected to dominate the market in terms of material, with thermoform trays being the preferred product. North America is expected to hold a dominant position in the market, driven by its well-established pharmaceutical industry and stringent packaging regulations.
Key players operating in the sterile medical packaging market include Amcor PLC, Dupont De Nemours Inc., Steripack Ltd, Wipak Group, Placon Corporation, Riverside Medical Packaging Company Ltd, Tekni-Plex Inc., BillerudKorsnäs AB, Sonoco Products Company, DWK Life Sciences GmbH, Technipaq Inc., 3M Co. (3M Packaging), and Nelipak Healthcare. These key players play a crucial role in driving innovation, meeting regulatory standards, and catering to the increasing demand for sterile medical packaging in the market.
Read complete market research report," Sterile Medical Packaging Market, By Material, By Product, By Application, By Geography, Market Size And Share Analysis - Growth Trends And Forecasts 2023-2030", Published by Coherent Market Insights.
Detailed Segmentation:
- By Material Type
- Plastics-PP, Polyester, PS, PVC, HDPE, etc.
- Paper and Paperboard
- Glass
- Other Types
- By Product Type
- Thermoform Trays
- Sterile Bottles and Containers
- Pouches and Bags
- Blister Packs
- Vials and Ampoules
- Pre-filled Syringes
- Wraps
- By Application Type
- Pharmaceuticals
- Surgical and Medical Appliances
- IVD
- Other Applications
- By Region:
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Europe
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- GCC Countries
- Rest of Middle East & Africa
- North America
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