Wilmington, Delaware, United States, Jan. 11, 2024 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The sterile medical packaging market was valued at US$ 10.1 billion in 2022. By 2031, the market is forecast to increase at a CAGR of 4.7% between 2023 and 2031 and reach US$ 15.2 billion by the end of this year. Packaging materials and technology progress fuel a growing market for sterile medical packaging. With the advancement of barrier materials, advanced packaging methods, and innovative packaging techniques, patient safety, effectiveness, and convenience are improving.
Personalized medicine and advanced therapies drive the demand for sterile packaging in the biopharmaceutical and biotechnology sectors. The integrity and effectiveness of these products are often dependent on specialized packaging. Medical products can be tracked and traced throughout the supply chain with RFID and QR codes integrated into sterile packaging. This method makes managing inventory, controlling quality, and complying with regulations easier.
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The growth of ambulatory surgical centers has been attributed to the growing preference for ambulatory care and outpatient services. Instruments and supplies used in various medical procedures require sterile packaging to maintain sterility. Eco-friendly and sustainable packaging solutions are becoming increasingly popular. The medical packaging industry is studying ways to prevent contamination while being environmentally friendly.
Global Sterile Medical Packaging Market: Growth Drivers
- A growing aging population, chronic diseases on the rise, and advances in medical treatments all contribute to the growth of healthcare spending worldwide. The demand for safe and effective packaging increases as more medical products and devices are used.
- Medical devices and pharmaceutical packaging must comply with strict guidelines and standards set by regulatory authorities such as the FDA (U.S. Food and Drug Administration) and EMA (European Medicines Agency). Sterile packaging materials are required to comply with these regulations, which drives the market's growth.
- Healthcare settings place a high priority on infection control. Pharmaceuticals, medical devices, and instruments need sterile packaging to prevent contamination and maintain sterility. The demand for sterile medical packaging is rising as patients become more aware of the importance of infection control.
- Healthcare providers are increasingly concerned about healthcare-associated infections. Medical devices and instruments are increasingly being packaged in sterile packaging to reduce the risk of infection caused by the devices and instruments. As a result, sterile packaging solutions have been adopted.
Global Sterile Medical Packaging Market: Key Players
Several global players dominate the sterile medical packaging market. A major focus of key players is improving sustainable production practices and developing eco-friendly alternatives to sterile medical packaging.
- DuPont de Nemours, Inc.
- Bemis Company Inc.
- BillerudKorsnas, AB
- Amcor plc
- Placon Corporation Ltd.
- Sonoco Products Company
- Oliver Healthcare Packaging LLC
- Ampac Holdings LLC
- Wipak Group
- Deufol Group
- SteriPack Contract Packaging
- Nelipak Healthcare Packaging
- Oracle Packaging
Key Findings of the Market Report
- The Asia Pacific region accounted for a significant percentage of the global sterile medical packaging market.
- By 2026, the pharmaceutical industry is projected to generate US$2.13 trillion, expanding at a 7.7% CAGR.
- Based on material type, foil is set to be a lucrative segment over the next few years.
- IV containers & bags are likely to drive demand for the sterile medical packaging market.
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Global Sterile Medical Packaging Market: Regional Landscape
- Various transformations are taking place in the Asia-Pacific sterile medical packaging market. Asia Pacific is experiencing an increase in healthcare spending and infrastructure development. As the population grows, urbanization increases, and healthcare becomes more affordable, demand for medical devices, pharmaceuticals, and sterile packaging increases.
- Infection control measures have become more prominent with a rising awareness of healthcare-acquired infections. With awareness increasing, the demand for sterile packaging will likely increase since sterile medical packaging is vital to preventing contamination. Healthcare products and pharmaceuticals are being regulated more stringently in Asia Pacific. Sterile medical packaging that meets these regulatory requirements is in increasing demand as packaging standards become stricter.
- Biotechnology and pharmaceutical industries are expanding rapidly in the Asia Pacific. A growing economy develops, pharmacy and biopharmaceutical production is increasing. Product integrity increases fuels the need for sterile packaging solutions that meet advanced requirements.
- The medical tourism market is booming in Asia Pacific countries such as Thailand, India, and Singapore. As international patients become more prevalent, there is an increasing demand for high-quality medical services as well as high-quality medical products, including sterile packaging, which can ensure patients' safety.
Key Developments
- In January 2023, Oliver Healthcare Packaging ("Oliver") began construction on a new manufacturing facility in Johor, Malaysia, which will manufacture flexible packaging for sterile barrier applications. As the first Oliver plant in Asia Pacific, Malaysia's plant is the largest in the country.
- In December 2023, TekniPlex Healthcare acquired Seisa Medical, significantly expanding its medical technology solutions platform by using advanced materials science expertise.
Global Sterile Medical Packaging Market: Segmentation
By Material Type
- Plastic
- Paper
- Foil
- Non-woven
- Foam Sheets
By Product Type
- Thermoformed Trays
- Clamshells
- IV Containers & Bags
- Sterile Lids
- Pouches
- Die-cut Baker Cards
- Guided Wire Hoops
- Sterile Wraps
- Others
By Application
- Medical Disposable Supplies
- Surgical Preparation Kits
- Sutures & Catheters
- Prepackaged Medical Supplies
- Medical Equipment
- Cardiovascular
- Electrophysiology
- Peripheral Vascular
- Neurovascular
- Endoscopic
- Orthopedic
- Injection System
- Electrosurgical Accessories
- Others
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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