Sterile Medical Packaging Market Size Worth $76.1 Billion by 2028; CAGR of 9.7% | Reports And Data

The surging prevalence of infectious diseases and a significant rise in the geriatric population are among the key factors projected to boost the market growth

New York, March 08, 2021 (GLOBE NEWSWIRE) -- Market Size – USD 37.1 billion in 2020, Market Growth – at a CAGR of 9.7%, Market Trends – Technological advancements in medical packaging solutions and elevated safety standards for packaging

The global sterile medical packaging market is expected to be valued at USD 76.1 billion in 2028 from USD 37.1 billion in 2020, registering a CAGR of 9.7% throughout the forecast period. Increasing number of people suffering from acute and chronic diseases, growing prevalence of infectious diseases, rising geriatric population, and the surging rate of hospital admissions and outpatient visits are among the integral factors contributing to the growth of the global sterile medical packaging market. The growing demand for sterile and disinfected surgical equipment, technological advancements in medical packaging solutions, rising shipments of medical products, and upgraded safety standards for medical packaging are the other vital parameters projected to spur the global market growth.

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Sterile medical packaging is non-reusable and provides a strong barrier against microbes and bacteria, thereby protecting the packed medical or pharmaceutical product against heat, moisture, and physical damage caused by unfavorable environmental conditions. This packaging type needs to be compliant with certain medical packaging standards, including the ISO9000 and PSO9000. Sterile medical packaging generally comprises materials such as glass, plastic (including LDPE, HDPE, PVC, etc.), metal, and paper & paperboard, and it offers high durability, prolonged shelf life, superior tear resistance, and a robust microbial barrier.

The plastic-based sterile medical packaging, which usually comprises high-performance polymers such as HDPE, is increasingly being adopted in the healthcare industry, mainly due to the high drug compatibility, superior chemical resistance, and improved moisture resistance of HDPE. For instance, Tyvek^®, a synthetic material composed of spunbound HDPE fibers, is one of the most widely used materials for medical packaging, including sterile containers, pouches, trays, and gloves. The massive demand for Tyvek^® is attributed to the material’s excellent biocompatibility, lightweight, breathability, and moisture resistance. However, stringent regulations imposed by the leading regulatory bodies, such as the U.S. FDA, for sterile medical packaging are expected to impede the global sterile medical packaging market growth in the near future.

Sterile Medical Packaging Market, By Type (Sterile bottles, thermoform trays, sterile closures, vials & ampoules, pre-filled syringes, bags & pouches, blisters & clamshells, others), By Material (Plastic, glass, metal, others), By Application (Surgical & medical equipment, pharmaceutical & biological, medical implants, others), By Sterilization Method (Radiation Sterilization, Chemical Sterilization), and By Region, Forecast to 2028; To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/sterile-medical-packaging-market

Key Highlights of the Report:

• Based on type, the thermoform trays segment is poised to register the fastest CAGR over the estimated timeframe. The escalating demand for thermoform trays due to their versatile design, biocompatibility, and superior flexibility is a key aspect of this segment’s growth. These trays can be molded into various sizes and shapes through the thermoforming process, making them highly customizable. Furthermore, thermoform trays safeguard against damage or breakage caused during storage and transportation.

• The plastic material segment is dominates the global sterile medical packaging market in terms of revenue. The rising adoption of high-performance polymers, such as LDPE, HDPE, PVC, and PET, for different types of medical packaging, including vials & ampoules, blood containers, pre-filled syringes, bottles, and pouches, is the main driver for this segment’s growth.

• The pharmaceutical & biological application segment is predicted to hold the highest revenue share over the estimated period, owing to the rising incidence of contagious diseases, such as the COVID-19 pandemic, increasing sales & distribution of pharmaceutical products, and the augmented rate of hospital admissions.

• The sterile medical packaging market in North America accounted for the largest revenue share in 2020. The regional market is projected to expand significantly over the forecast timeframe, owing to the presence of advanced healthcare infrastructure in the region, the surging prevalence of contagious diseases like the deadly COVID-19, technological advancements in medical packaging, and the growing public awareness of health & hygiene.

• The leading market competitors include Amcor Plc, DuPont, Sonoco, ProAmpac, Tekni-Plex, Techinipaq Inc., Steripack Ltd., Wipak Group, Nelipak Healthcare, GS Medical Packaging, and Oliver Healthcare Packaging.

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For the purpose of this report, the global sterile medical packaging market has been segmented based on type, material, application, sterilization method, and region:
By Type (Revenue, USD Billion; 2018-2028)

• Sterile bottles

• Sterile closures

• Thermoform trays

• Vials & ampoules

• Pre-filled syringes

• Pre-fillable inhalers

• Bags & pouches

• Blister & clamshells

• Wraps

• Others

By Material (Revenue, USD Billion; 2018-2028)

• Plastic

• Polyvinyl Chloride (PVC)

• High Density Polyethylene (HDPE)

• Low Density Polyethylene (LDPE)

• Polypropylene

• Metal

• Stainless steel

• Aluminum foil

• Glass

• Paper & paperboard

• Others

By Application (Revenue, USD Billion; 2018-2028)

• Surgical & medical equipment

• Pharmaceutical & biological

• In vitro diagnostic products

• Medical implants

• Others

By Sterilization Method (Revenue, USD Billion; 2018-2028)

• Chemical Sterilization

• Radiation Sterilization

By Region (Revenue, USD Billion; 2018-2028)

• North America

  • U.S.

  • Canada

• Europe

  • Germany

  • U.K.

  • France

  • BENELUX

  • Rest of Europe

• Asia Pacific

  • China

  • Japan

  • India

  • South Korea

  • Rest of the Asia Pacific

• Latin America

  • Brazil

  • Rest of Latin America

• Middle East & Africa

  • Saudi Arabia

  • UAE

  • Rest of the Middle East & Africa

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