Overview

Sterile Medical Packaging Market Introduction:

Sterile medical packaging market will surpass the mark of $50 billion by 2029 end and register a CAGR of 5.82% for the forecast period of 2020-2029.
Most medical devices, apparatus and infusions designed to come in direct contact with patients must be sterilised to prevent the unintended transmission of infectious. Typically sterilisation achieved through the use of specially designed, non-reusable packaging materials that provide a barrier against microbial transmission. This sterile barrier system effectively maintains device sterility from the point of initial sterilization and packaging, until the time of use. The equipment includes tray thermoforming machine, medical pouch sterile sealing machines etc.

The increasing demand for sterility in healthcare management led to the potential growth of sterile medical packaging. The packaging material is an integral part of the pharmaceutical product and intended to protect the product from the external environment. Containments can impact product stability and leads to unintentional infectious diseases in patients. Rising demand for sterile medical packaging to increase the protection of drugs led to the robust growth of the global sterile medical packaging market. Sterile medical packaging is used to retain the quality of the products. Further changing regulatory scenarios to prevent the contamination led to robust growth of the market. Additionally, the rapid advancement of technologies led to developed of the fully automated process of manufacturing. All these factors led to the potential growth of the market.

The Asia Pacific and Latin America regions created to potential opportunistic space for manufacturers due to a large number of pharmaceutical manufacturers in these regions. They are expected to witness the highest growth rate in global sterile medical packaging. North America and Europe sterile medical packaging market expected to remain dominant throughout the forecast period. Rest of the world is expected to account significant share in global Sterile Medical Packaging market due to increasing adoption.

Major market players include:

DuPont, Wipak, 3M Company, Bemis Company, Inc., West Pharmaceutical Services, Inc., Placon Corporation,Amcor Limited, Steripack Ltd., Riverside Medical Packaging Company Ltd, Oracle Packaging, Inc. and others. Manufacturers are more focused on organic growth through expansions and collaboration to remain dominant in the global market.

Sterile Medical Packaging Market Segmentation:

By Product Type

Thermoform Trays
Wraps
Sterile Bottles & Containers
Blister & Clamshells
Pre-Filled Syringes
Vials & Ampoules
Bags
Closures
Others

By Material

Metal
Stainless Steel
Aluminum Foil
Plastic
PVC
Polypropylene
Polyester
Polystyrene
Polycarbonate
HDPE
Paper & Paperboard
Glass
Other materials

By Sterilization Method

High Temperature/ Pressure Sterilization
Chemical Sterilization
Radiation Sterilization

By Application

In Vitro Diagnostic Products
Pharmaceutical & Biological
Medical Implants
Surgical & Medical Instruments
Other

By Region

Europe
North America
APAC
Latin America
Rest of World

Competitive Landscape:

Tier 1 players- established companies in the market with a major market share
Tier 2 players
Emerging players which are growing rapidly
New Entrants

FutureWise Takeaways

Growth prospects
SWOT analysis
Key trends
Key data-points affecting market growth

Objectives of the Study:

To provide with an exhaustive analysis on the global sterile medical packaging market on the basis of product type, material, sterilization method, application and region
To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
To evaluate and forecast micro-markets and an overall market
To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and the Middle East
To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
Profiling of companies to evaluate their market shares, strategies, financials and core competencies