Medical Implant Sterile Packaging Market Future Business Opportunities 2021-2028 | Oliver Tolas, Bemis Company, Inc, Steripack Contract Manufacturing

Overview

Contract sterilization services play a major role in adoption of medical implant sterile packaging. Many OEMs seek contract manufacturers as it helps to reduce costs related to production and development of products.

Market Statistics:

The global medical implant sterile packaging market is estimated to be valued at US$ 1,741.3 million in 2019 and is expected to exhibit a CAGR of 7.1%, over the forecast period (2019-2027).

Global Medical Implant Sterile Packaging Market: Drivers

Launch of new products is expected to propel growth of the global medical implant sterile packaging market over the forecast period. For instance, in July 2017, ECA Medical Instruments launched sterile-packed instrument set to protect cannulated titanium screw. The company also launched sterile pack kits and instruments for hand and wrist repair, joint arthroplasty, and spine implants.

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Global Medical Implant Sterile Packaging Market: Opportunities

Launch of complex medical implants is expected to offer lucrative growth opportunities for players in the global medical implant sterile packaging market. For instance, in March 2020, Allergan plc received the U.S. Food and Drug Administration approval for its New Drug Application for DURYSTA (bimatoprost implant) 10 mcg for intracameral administration in the treatment of open-angle glaucoma or ocular hypertension.

Global Medical Implant Sterile Packaging Market: Recent Developments

Major players operating in the global medical implant sterile packaging market are focused on adopting M&A strategies to enhance their market share. For instance, in April 2016, Bemis Company Inc. acquired packaging operation of Steripack Group, a global manufacturer of sterile packaging for medical device and pharmaceuticals.

Covid-19 Impact Analysis:

High prevalence of hospital-acquired infections and Covid-19 is expected to offer lucrative growth opportunities for players in the global medical implants sterile packaging market. For instance, according to The U.S. Agency for Healthcare Research and Quality (AHRQ), pressure ulcers account for US$ 10.2 billion healthcare costs in the U.S and are associated with over 45% of 63,619 Hospital-Acquired Conditions (HAC)-related deaths in the country and are the leading contributor to HAC-related deaths. Moreover, globally, as of 6:27pm CEST, 5 October 2021, there have been 235,175,106 confirmed cases of COVID-19, including 4,806,841 deaths, reported to WHO.

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Key Takeaways:

Increasing number of dental implantation is expected to propel growth of the global medical implant sterile packaging market over the forecast period. For instance, around 3 million people in the U.S. received dental implants, according to statistics by the American Academy of Implant Dentistry in August 2018. Moreover, around 500,000 people undergo dental implantation treatment each year in the U.S.

Global Medical Implant Sterile Packaging Market - Competitive Landscape

Major players operating in the global medical implant sterile packaging market include, Bemis Company, Inc., Janco Inc., Multivac Group, Oliver Tolas, Orchid Orthopedic Solutions LLC, Sealed Air Corporation, and Steripack Contract Manufacturing.

Global Medical Implant Sterile Packaging Market – Key Developments

Major players operating in the global medical implant sterile packaging market are focused on adopting M&A strategies to enhance their market share. For instance, in August 2019, Kohlberg closed Bemis Healthcare Packaging Europe acquisition and merged with Nelipak, a developer and manufacturers of custom designed thermoformed packaging for the medical device and pharmaceutical.

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