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Sterile Medical Packaging Market: Analysis of Size, Share, and Key Industry Trends
Sterile Medical Packaging Global Market Report 2024
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According to The Business Research Company's, The sterile medical packaging market size has grown rapidly in recent years. It will grow from $47.82 billion in 2023 to $52.81 billion in 2024 at a compound annual growth rate (CAGR) of 10.4%. The growth in the historic period can be attributed to medical device industry growth, rising healthcare expenditure, infection control measures, evolving sterilization techniques, growing awareness of infection control..
The sterile medical packaging market size is expected to see rapid growth in the next few years. It will grow to $82.22 billion in 2028 at a compound annual growth rate (CAGR) of 11.7%. The growth in the forecast period can be attributed to biologics and biopharmaceuticals, aging population, pharmaceutical serialization, customization and sustainability, e-commerce in healthcare.. Major trends in the forecast period include advanced barrier materials, rfid and track-and-trace, e-commerce packaging, child-resistant packaging, tamper-evident packaging..
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Market Drivers and Trends:
The increased prevalence of infectious diseases and viruses has led to an increase in demand for sterile medical packaging to prevent any contamination, which is expected to contribute to the growth of the market. Infectious diseases are caused by infectious agents and can be passed from one person or animal to another. According to the WHO, in April 2021, globally, 150 million COVID-19 confirmed cases were reported, and 3.1 million deaths. The increased number of cases of infectious diseases has increased the demand for the sterile medical packaging market.
Major companies operating in the sterile medical packaging market are developing sustainable solutions to meet the growing demand for sterile medical packaging. Sustainable solutions in sterile medical packaging involve materials and practices that minimize waste and reduce the environmental impact while maintaining product integrity and patient safety. For instance, in April 2021 Amcor PLC, an Australia-based packaging company, announced the launch of AmSky blister system. It is a thermoform blister packaging system based on recyclable polyethylene, which replaces PVC and foil in the packaging process using a polyethylene (PE) thermoformed blister and lidding film..
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Major Key Players of the Market:
Amcor Limited, DuPont De Nemours and Company, 3M Company, West Pharmaceutical Services Inc., Oliver Healthcare Packaging LLC, Placon Corporation, Oracle Packaging, Riverside Medical Packaging Company Ltd., Wipak Group., Steripack Ltd., BillerudKorsnäs, Techinipaq Inc., GS Medical Packaging Inc., Sonoco Products Company, Nelipak Healthcare Packaging, Januaryco Inc., Berry Global Inc., Gerresheimer AG, Schott AG, Sealed Air Corporation, Bemis Company Inc., Mitsubishi Chemical Holdings Corporation, UFP Technologies Inc., Huhtamaki Oyj, Klockner Pentaplast Group, Pregis LLC, Prent Corporation, Printpack Inc., Beacon Converters Inc., Perfecseal Inc., GVS Group, Vanrx Pharmasystems Inc., ProAmpac LLC, Tekni-Plex Inc., Constantia Flexibles Group GmbH, Nelipak Corporation
Sterile Medical Packaging Market 2024 Key Insights:
• The sterile medical packaging market size is expected to see rapid growth in the next few years. It will grow to $82.22 billion in 2028 at a compound annual growth rate (CAGR) of 11.7%.
• Rising Infectious Disease Threats Drive Demand For Sterile Medical Packaging
• Innovative Sustainable Solutions
• North America was the largest region in the sterile medical packaging market share in 2023
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