PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1397378
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1397378
Scope of the Report | |
---|---|
Years Considered for the Study | 2019-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Units Considered | Value (USD Million/Billion), Volume (Million Units) |
Segments | Material, Type, Sterilization Method, Application, and Region |
Regions covered | North America, Asia Pacific, Europe, South America and Middle East & Africa |
The sterile medical packaging market is projected to grow from USD 57.5 billion in 2023 to USD 94.6 billion by 2028 at a CAGR of 10.5%. Several factors drive the sterile medical packaging market, including a rising demand for advanced healthcare solutions, strict regulatory standards, and the crucial need for infection control in medical settings. Opportunities are presented by the increasing prevalence of surgical procedures, growth in the pharmaceutical and biotechnology sectors, and ongoing innovations in packaging materials and technologies. However, challenges persist, ranging from intricate regulatory compliance to the necessity for sustainable packaging solutions and the ongoing evolution of pathogens, demanding adaptable and robust sterile packaging strategies.
"Glass to be the second largest material used in sterile medical packaging after plastic."
Glass is preferred for its exceptional barrier properties, providing an impermeable shield against gases, moisture, and contaminants. This is particularly crucial in preserving the integrity of sensitive pharmaceutical and biological products. Glass is inert, non-reactive, and does not leach harmful substances, ensuring the purity of the contents. Moreover, its transparency allows for easy visual inspection, a critical factor in the pharmaceutical industry. Although heavier than some alternatives, glass's durability, recyclability, and perceived premium quality contribute to its significant market share, making it a preferred choice for sterile medical packaging in specific contexts.
"Sterile closures to be the second fastest growing type in the sterile medical packaging market after thermoform trays."
Sterile closures are experiencing rapid growth and have become the second-fastest-growing type in the sterile medical packaging market due to their pivotal role in maintaining the sterility and integrity of medical devices and pharmaceutical products. As the demand for advanced healthcare solutions increases, the need for secure and contamination-free packaging becomes paramount. Sterile closures offer a crucial barrier against external contaminants, ensuring the preservation of product sterility throughout its lifecycle. The rise in biopharmaceutical innovations and specialized medications, often requiring meticulous sterile packaging, has propelled the demand for these closures.
"The Radiation sterilization holds the second largest market share in the sterile medical packaging market after chemical sterilization."
Radiation sterilization method utilizes ionizing radiation, such as gamma rays or electron beams, to eradicate microorganisms and pathogens from packaging materials. Unlike traditional methods like steam sterilization, radiation sterilization is particularly advantageous for heat-sensitive items, ensuring their sterility without exposing them to elevated temperatures. The process is reliable, efficient, and capable of penetrating various packaging materials to reach all surfaces, providing a thorough and uniform sterilization.
"Surgical & medical instruments application holds the second largest market share in sterile medical packaging market."
Sterile packaging ensures that surgical and medical instruments remain free from contamination and microbial intrusion throughout the entire supply chain, from manufacturing to end-use. This is particularly vital in surgical settings where precision and aseptic conditions are paramount. Sterile packaging solutions such as pouches, wraps, and trays create a barrier against external contaminants, safeguarding the instruments' sterility until the moment of use. As the demand for advanced medical solutions and stringent infection control measures continues to rise, the role of sterile medical packaging in preserving the integrity of surgical and medical instruments becomes increasingly crucial, contributing to the overall efficacy and safety of healthcare practices.
"Europe is the second biggest market for sterile medical packaging."
Europe's proactive approach to adopting innovative packaging materials and techniques, in tandem with evolving industry trends and heightened consumer expectations, further solidifies its market standing. As Europe continues to witness technological advancements in the healthcare sector and an increasing focus on stringent regulatory compliance, the demand for sterile medical packaging solutions remains robust, making it a key player in the global landscape of sterile medical packaging.
Extensive primary interviews were conducted to determine and verify the market size for several segments and sub-segments, and information was gathered through secondary research.
Notes: *Others include sales, marketing, and product managers.
Notes: Tier 1: >USD 5 Billion; Tier 2: USD 1 Billion- USD 5 Billion; and Tier 3: <USD 1 Billion
Companies Covered: The companies profiled in this market research report include Amcor plc (Switzerland), DuPont de Nemours, Inc. (US), Berry Global Group, Inc. (US), West Pharmaceutical Services, Inc. (US), Sonoco Products Company (US) and others.
The market study covers sterile medical packaging across various segments. It aims to estimate the market size and the growth potential of this market across different segments based on material, type, sterilization method, application, and region. The study also includes an in-depth competitive analysis of key players in the market, their company profiles, key observations related to their products and business offerings, recent developments undertaken by them, and key growth strategies adopted by them to improve their position in the sterile medical packaging market.
Key Benefits of Buying the Report
The report is expected to help the market leaders/new entrants in this market share the closest approximations of the revenue numbers of the overall sterile medical packaging market and its segments and sub-segments. This report is projected to help stakeholders understand the competitive landscape of the market, gain insights to improve the position of their businesses and plan suitable go-to-market strategies. The report also aims to help stakeholders understand the pulse of the market and provides them with information on the key market drivers, challenges, and opportunities.