Continuous advancements and innovations in technology and rising awareness about the use of eco-friendly materials have led to the sterile medical packaging gain more popularity since the past few years. Sterile medical packaging being less expensive and affordable, requiring lesser resources, and offering more protection from microbes is what makes it a safer, practical, and the most preferable packaging method. Therefore, because of these benefits, the players in this market are now looking to expand their base and adopt different strategies in order to maintain their grip on the market.
Primary Driving Factors
The growing packaging and the healthcare packaging industries are influencing the sterile medical packaging industry. However, the major factors because of which this market is witnessing a significant growth are:
- Increased demand from healthcare industry
- Growing awareness about the use of reliable packaging
- Aging population
- Rising cases of chronic diseases
Moreover, growing competition among manufacturers and rising concern about environment is said to be further driving the growth of this market. The market in Asia-Pacific is the biggest, mainly due to the upcoming economies like China and India, rising middle-class population, and increased spending power of consumers.
Market at a Glance
Advancing at a CAGR of 5.72% during the projected period, the global sterile medical packaging market is estimated to reach USD 35.07 Billion from USD 26.55 Billion by the end of 2020. In 2014, Asia-Pacific held the largest market share among regions, and is also expected to be the fastest-growing market between 2015 and 2020.
Among materials, plastics segment took up the highest market share in 2014, and is projected to be fastest-growing as well in over the forecast period. On the basis of type, the segment of thermoform trays held the largest share of the market in 2014, whereas among applications, the pharmaceutical & biological segment was the dominant market. Both the segments are projected to grow at the highest growth rates during the forecast period. On the basis of sterilization methods, chemical sterilization is expected to take up the majority of the market share over the forecast period, with Ethylene oxide (EtO) method projected to grow at the second-highest CAGR by 2020.
Amcor Limited (Australia), 3M Company (U.S.), E. I. du Pont de Nemours and Company (U.S.), Bemis Company, Inc. (U.S.), and West Pharmaceutical Services, Inc. (U.S.). Other players include SteriPack Ltd. (Ireland), Wipak Group (Germany), Placon Corporation (U.S.), Riverside Medical Packaging Company Ltd. (U.K.), and Oracle Packaging, Inc. (U.S.), among others are some of the major organizations included in the global market for sterile medical packaging.
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Research Scope
The global market for sterile medical packaging has been analyzed and predicted on the basis of following segmentation:
- Material: Plastics (including polypropylene, polyester, polystyrene, polycarbonate, PVC, HDPE, and others), Glass, Metal (including aluminum foil and stainless steel), Paper & Paperboard
- Type: Thermoform Trays, Sterile Bottles & Containers, Vials & Ampoules, Pre-fillable Inhalers, Sterile Closures, Pre-filled Syringes, Blister & Clamshells, Bags & Pouches, Wraps
- Application: Pharmaceutical & Biological, Surgical & Medical Instruments, In-vitro Diagnostic products, Medical Implants
- Sterilization Method: Chemical sterilization (including Ethylene Oxide (EtO), Hydrogen peroxide, and Others), Radiation sterilization (including Gamma radiation, E-beam, and Others), High temperature/pressure sterilization (including Steam autoclave and Dry heat)
- Geography: North America, Europe, Asia-Pacific, RoW
Summary
The market for sterile medical packaging is majorly driven by the rising demand from healthcare sector and growing awareness about its benefits.
