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Global Sterile Medical Packaging Market Estimated to Value Over $45 Bn by 2026 End

04-09-2019 05:19 PM CET | Health & Medicine

Press release from: FutureWise Research

Sterile Medical Packaging

Sterile Medical Packaging

Sterilization plays an important role in the medical world. With new micro-organisms being recognised and prevailing infectious hazards as a result of environmental temperature fluctuations and rising pollution, regulatory norms and so on sterile medical packaging becomes even more vital. The packaging of medical products ensures its potency, quality, stability and identification resulting in effective healthcare management. Sterile medical packaging warrants all of the above factors along with the critical aspect of preventing unintentional microbial transmission and non-favourable after-effects of a drug due to contamination and stability issues.

Rise in use of innovative automated packaging manufacturing process, up thrust in healthcare and pharmacy sector, greater need for drug protection, strict regulatory norms are fuelling the demand for sterile medical packaging, which is expected to create an exponential surge in the sterile medical packaging market. This is an indicator that global sterile medical packaging market will surpass the mark of $45 billion by 2026 and register a CAGR of 5.82% for the forecast period of 2019-2026.

Global sterile medical packaging market is segmented based on product type, sterilization method, application and region.
The product segmentation comprises of thermoform trays, wraps, sterile bottles & containers, blister & clamshells, pre-filled syringes, vials & ampoules, bags, closures and others.

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The material segmentation is led by primarily by two metals-stainless steel and aluminium. Plastic and polymers like PVC, Polypropylene, Polyester, Polystyrene, Polycarbonate, HDPE are also widely used due to ease of availability and cost-effectiveness. However, alarming environmental hazards of plastic are forcing to seek economical alternatives. Also, paper & paperboard, glass and other materials share this segment.
Sterilization method segmentation to relay majorly on chemical sterilization over the forecasted period.

Ethylene oxide, hydrogen peroxide, chlorine dioxide is used in low-temperature sterilization of heat- and moisture-sensitive medical devices. Other segments include high temperature/ pressure sterilization and radiation sterilization. Chemical sterilization using Ethylene oxide is effortless and affordable as it reduces the steps in a series of sterilization without any aeration. Ethylene oxide is estimated to quickly replace hydrogen peroxide over the forecasted period.

Global sterile medical packaging market segmentation by application includes In Vitro diagnostic product, pharmaceutical & biological, medical implants, surgical & medical instruments.

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North America and Europe to dominate global sterile medical packaging market in region aegmentation.
Europe and North America hold the largest share in the market due to regulatory norms by FDA and government. Both regions are to dominate the sterile medical packaging market during the forecast period. APAC and Latin America demonstrate exuberant opportunistic potential during the forecasted period due rise in pharmaceutical industry across the region. Rest of World is estimated to continue growing at a steady pace.

Competitive Landscape:
• Tier 1 players- established companies in the market with a major market share
• Tier 2 players
• Emerging players which are growing rapidly
• New Entrants

FutureWise Takeaways
Growth prospects
SWOT analysis
Key trends
Key data-points affecting market growth
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Objectives of the Study:
• To provide with an exhaustive analysis on the global sterile medical packaging market on the basis of product type, material, sterilization method, application and region
• To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
• To evaluate and forecast micro-markets and an overall market
• To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and the Middle East
• To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
• Profiling of companies to evaluate their market shares, strategies, financials and core competencies

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FutureWise Research & Consulting was created with the vision of empowering decision-makers with the market intelligence they need most. In an era inundated with numbers, we provide clarity. Filtering through the noise, we present insights and analyses into markets, industries and the competition, allowing companies to focus their resources towards effective strategising.

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