Dublin, April 25, 2024 (GLOBE NEWSWIRE) -- The "Sterilized Packaging - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Sterilized Packaging Market to Reach $62.6 Billion by 2030
The global market for Sterilized Packaging estimated at US$38.2 Billion in the year 2022, is projected to reach a revised size of US$62.6 Billion by 2030, growing at a CAGR of 6.4% over the analysis period 2022-2030.
The importance of sterile packaging in the pharmaceutical industry is underscored, particularly with the increasing significance of biologic drugs, which drive innovations in packaging and delivery techniques. Sterilization parameters play a crucial role in the choice of packaging materials, emphasizing the need for effective sterilization methods. Additionally, the sustainability wave emerges as a central focus in sterile medical packaging, reflecting industry efforts to address environmental concerns and promote eco-friendly solutions.
Plastic, one of the segments analyzed in the report, is projected to record a 7.1% CAGR and reach US$36.3 Billion by the end of the analysis period. Growth in the Glass segment is estimated at 6.3% CAGR for the next 8-year period.
The demand for sterile packaging is bolstered by evolving consumer behavior and heightened hygiene concerns, with the COVID-19 pandemic accentuating its critical significance. Competitive insights reveal the global key competitors' percentage market share in 2023, reflecting the competitive landscape of the industry. Recent market activity highlights advancements in the pharmaceutical and biopharmaceutical industries, which fuel growth in the sterile packaging sector.
The U.S. Market is Estimated at $11.8 Billion, While China is Forecast to Grow at 9.9% CAGR
The Sterilized Packaging market in the U.S. is estimated at US$11.8 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$11.9 Billion by the year 2030 trailing a CAGR of 9.9% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.3% and 5.4% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 4.8% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$8.7 Billion by the year 2030.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 376 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $38.2 Billion |
| Forecasted Market Value (USD) by 2030 | $62.6 Billion |
| Compound Annual Growth Rate | 6.4% |
| Regions Covered | Global |
MARKET OVERVIEW
- Evolving Consumer Behavior and Heightened Hygiene Concerns Strengthen the Demand for Sterile Packaging
- COVID-19 Pandemic Accentuates Critical Significance of Sterilized Packaging
- Competition
- Sterilized Packaging - Global Key Competitors Percentage Market Share in 2023 (E)
- Recent Market Activity
MARKET TRENDS & DRIVERS
- Advancements in Pharmaceutical & Biopharmaceutical Industries Fuel Growth
- Importance of Sterile Packaging in Pharmaceutical Industry
- Increasing Significance of Biologic Drugs Fuels Innovations in Packaging and Delivery Techniques
- Sterilization Parameters Impact Choice of Packaging Materials
- Sustainability Wave is at the Heart of Sterilized Medical Packaging
- Growing Emphasis Infection Control and Patient Safety Continues to Drive Demand for Sterile Medical Packaging
- Increasing Focus on HAIs: An Important Growth Driver
- Medical Domain Gains from Intertwining of Sterile Packaging & Innovations
- Advent of Stringent Guidelines and Regulations Propel Demand for Sterilized Medical Devices
- Rise of Home-use Devices to Strengthen Demand for Sterilized Packaging
- Sterile Packaging Gains Importance in Food Processing & Food Service Industries Amid Growing Focus on Safe and High-Quality Foods
- Pandemic Spurs Demand for Packaged Food & Beverages
- Demand for Fresh and Safe Food Drives Innovations in High Barrier Films
- Flexible Packaging Gains Importance among Sterile Medical Supplies
- Concerns Over EtO Usage Encouraging Adoption of Alternative Sterilization Techniques
- Spotlight on Packaging Alternatives as Material Shortages Increase
FOCUS ON SELECT PLAYERS(Total 78 Featured)
- Amcor Ltd.
- American Health Packaging
- AptarGroup, Inc.
- Baxter International, Inc.
- Becton, Dickinson and Company
- Bemis Co., Inc.
- Cardinal Health, Inc.
- Catalent Pharma Solutions, Inc.
- CCL Industries, Inc.
- Clondalkin Group Holdings BV
- Constantia Flexibles Group GmbH
- Datwyler Holding, Inc.
- Euromedex France SA
- Gerresheimer AG
- Intrapac International Corporation
- Klockner Pentaplast GmbH & Co. KG
- Nampak Ltd.
- RPC Group PLC
- SCHOTT AG
- SteriPack Group
- Vitro S.A.B. de C.V.
- Winpak Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/ngv4rb
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