Packaging is an integral and inherent aspect of the food development process. It guarantees the protection of goods and the effortless transportation of products.
The key drivers driving the growth of the global sterile medical packaging industry globally are growing demographics and their health needs, constant efforts by consumers, suppliers and policymakers to raise the degree of infection prevention, and the beneficial health care policies. Moreover, factors such as expanded purchasing power and increasing customer understanding of healthcare are also expected to fuel the development of the global demand for sterile medical packaging.
Global demand for the Sterile Medical Packaging market was valued at approximately USD 33.16 billion in 2019 and is expected to generate revenue of around USD 46.3 billion by end of 2026, growing at a CAGR of around 5.72% between 2020 and 2026.
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Different forms of sterilisation packaging, such as bags, wraps and container systems, are available on the market in various sizes and configurations for the sterilisation and packaging of medical equipment and other devices. Factors such as the implementation, consistency and availability of suitable sterilisation packaging systems are very critical for the execution of packaged content sterilisation, the preservation of packaged content sterility before the product is open for use, and the elimination of contamination-free content.
Technological developments have streamlined and incorporated the pharmaceutical products’ sterile packaging process and made it more capital-intensive. The risk of pollution is minimized by this process. The manufacturing and packaging of pharmaceutical and biological products requires numerous checks, safety controls and ensuring that legal compliance with the substance of the drug and the material used in the packaging is complied with.
The section of plastic sterile medical packaging is expected to dominate the market for sterile medical packaging. This advancement can be due to its high usage and rising end-user demand. In the sterile medical packaging industry, plastic polymers such as HDPE, polyester and polypropylene are used widely in the manufacture of tubes, vials & ampoules and pre-filled syringes.
Centered on the region, Asia Pacific, the Middle East & Africa, North America, Europe, and South America are segmented into the sterile medical packaging industry. North America accounted for the largest share of these, and during the forecast period it is expected to see the fastest growth. This rise can be due to the numerous regulations implemented by the FDA, which, in turn, are driving demand in this area for safe and high-quality products. Moreover, the industry has been very competitive in the area due to the involvement of several big players and strict FDA regulations.
Market Trends- Salient trends of Sterile Medical Packaging Market
Plastic Material is Expected to Hold a Significant Share
Many collaborations in the field have contributed to several developments. New innovations and devices have largely been the outcome of joint projects between the chemical/polymer resin industries and medical device packaging converters.
For example, metallocene is a linear low-density polyethylene that provides greater seal integrity and durable efficiency, autoclave sterilization compliant with modern oxygen and moisture barrier resins, and new polymer chemistries provide enhanced performance in both speed and efficiency of thermoformability.
Improving the overall efficiency of the sterile barrier medical product packaging has been the main priority of the suppliers. This mostly concerns elements such as physical properties, durability of the aged box, performance of the sterile barrier, ease of opening, and clarification of materials.
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List of the Key Companies Operating in the Sterile Medical Packaging Market are:
- Amcor Plc (Switzerland)
- Placon (U.S.)
- DuPont (U.S.)
- Steripack Ltd. (Ireland)
- Wipak Group (Finland)
- Nelipak Healthcare (U.S.)
- Sonoco (U.S.)
- BillerudKorsnäs AB (Sweden)
- ProAmpac (U.S.)
- West Pharmaceutical Services, Inc. (U.S.)
- Riverside Medical Packaging Company Ltd (UK)
- Oliver Healthcare Packaging (U.S.)
- GS Medical Packaging (Canada)
- Orchid (U.S.)
- Techinipaq Inc. (U.S.)
Source: VynZ Research