Sales Of Sterile Medical Packaging Materials Is To Reach US$ 86.99 Billion By The End Of 2033
The estimated market value for sterile medical packaging worldwide in 2023 is US$44.22 billion. By the end of 2033, sales of sterile medical packaging materials are projected to grow globally at a CAGR of 7%, reaching US$ 86.99 billion.
Metal, glass, paper & paperboard, and plastic are the different categories of sterile medical packaging materials. Over the next ten years, demand for sterile medical packaging materials in glass and plastic is anticipated to grow at CAGRs of 7% and 8%, respectively.
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The demand for sterile medical packaging has been growing steadily in recent years and is expected to continue to grow in the coming years. This is due to several factors, including an increasing focus on patient safety, the rising prevalence of chronic diseases, and the growing aging population.
Sterile medical packaging is used to protect medical devices, instruments, and pharmaceutical products from contamination during shipping and storage. The packaging must be sterile to ensure the safety and efficacy of the products. As healthcare providers and patients become more aware of the importance of sterile packaging in maintaining patient safety, the demand for these products is increasing.
Key Companies
- Bemis Co., Inc.
- DowDuPont, Inc.
- Oracle Packaging
- Placon Corporation
- Riverside Medical Packaging Co., Ltd.
- SteriPack Group
- West Pharmaceutical Services, Inc.
- Wipak Oy
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Competitive Landscape
The market is only fairly competitive, with a few number of dominant companies holding the lion’s share of the industry. Major sterile packaging companies have invested a substantial number of money in the research and development of numerous products and technologies.
As part of their growth plans, the top firms in the sterile medical packaging industry embrace a diverse product offering, increased operational effectiveness, and the creation of novel, secure technologies for sterile medical packaging applications. These companies use strategies like mergers and acquisitions to broaden their regional reach and product lines.
ACT2100, a heat seal coating medical packaging solution, was just released by Amcor. The performance of this product will be improved in healthcare applications, and it will meet consumer expectations for device packaging.
Key Takeaways from Market Study
- From 2023 to 2033, the demand for sterile medical packaging solutions is anticipated to grow at a CAGR of 7%.
- Throughout the anticipated period, it is expected that the Chinese market will grow at a CAGR of 12%.
- Throughout the projected period, it is anticipated that sales of plastic sterile medical packaging materials would increase at a CAGR of 8%.
- It is anticipated that during the next 10 years, demand for glass sterile medical packaging materials would grow at a CAGR of 7%.
- The sales of sterile medical packaging materials are anticipated to increase due to the development of smart packaging solutions and the increased occurrence of contagious diseases, according to a Fact.MR analyst.
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Key Segments of Sterile Medical Packaging Industry Research
- By Material:
- Plastic
- Glass
- Metal
- Paper & Paperboard
- By Type:
- Thermoform Trays
- Sterile Bottles & Containers
- Sterile Closures
- Pre-fillable Inhalers
- Pre-fillable Syringes
- Vials & Ampoules
- Blisters & Clamshells
- Bags & Pouches
- Wraps
- By Application:
- Pharmaceuticals & Biologics
- Surgical & Medical Instruments
- In-vitro Diagnostic Products
- Medical Implants
- By Sterilization Method:
- Chemical Sterilization
- Radiation Sterilization
- High Temperature/Pressure Sterilization
- By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- East Asia
- South Asia & Oceania
- MEA
Contact:
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