The global sterile medical packaging market size was valued at US$ 52.26 Bn in 2022 and is anticipated to witness a compound annual growth rate (CAGR) of 9.7% from 2023 to 2030. The increasing occurrence of infectious diseases globally is driving the demand for sterile medical packaging. The products ensure that patients do not come into contact with contaminated devices. The packaging helps prevent infectious diseases from spreading and causing serious health complications. Infectious diseases are often transmitted from human to human or from animal to human. The growth of sterile medical packaging is anticipated to continue in the coming years. Several market players are focusing on safer methods of sterilization. Before packaging, the products undergo a sterilization process. This involves installing technical HEPA filters and heating, ventilation and air conditioning (HVAC) systems to ensure that the product is sterile.
The COVID-19 pandemic has had a significant impact on the global sterile medical packaging market. The market for sterile medical packaging includes products such as bags, pouches, trays, and containers that are used to package medical devices, pharmaceuticals, and other healthcare products in a sterile environment. One of the major impacts of the pandemic on the sterile medical packaging market has been the increased demand for medical supplies and equipment. The pandemic has led to a surge in demand for medical products such as personal protective equipment (PPE), testing kits, and vaccines, which has in turn driven up demand for sterile medical packaging. Another impact of the pandemic has been disruptions in global supply chains. The lockdowns and travel restrictions imposed by many countries have led to delays in the transportation of goods, including sterile medical packaging. This has resulted in shortages of some types of packaging materials and increased prices for others.
Global Sterile Medical Packaging Market Drivers:
Strict regulation regarding the control of infection: Strict regulation regarding the control of infection is primarily fueling growth of the sterile medical packaging market. For instance, the International Health Regulations (IHR) positioned infection prevention and control (IPC) as an important strategy for dealing with international public health threats. More recently, the United Nations Sustainable Development Goals (SDG) highlighted the importance of IPC as a contributor to safe, effective, and high-quality health service delivery, in particular those related to water, sanitation, and hygiene (WASH) and quality and universal health coverage.
Growing utilization of pharmaceutical sector capacity: The growing utilization of pharmaceutical sector capacity is again propelling growth of the market. For instance, according to the Times of India Report, in 2020, units in the pharmaceutical industry were operating at 50-60% capacity at the end of the third phase of the lockdown in India. The GSK global biopharma company with a purpose to unite science, technology Company stated that its Nashik factory was operating at 100% capacity, with its contract manufacturing factories operating at 60-65% capacity in May 2020, up from 30-35% a few weeks ago.
Sterile Medical Packaging Market Report Coverage
|Base Year:||2022||Market Size in 2022:||US$ 52.26 Bn|
|Historical Data for:||2018 to 2021||Forecast Period:||2023 to 2030|
|Forecast Period 2023 to 2030 CAGR:||9.7%||2030 Value Projection:||US$ 109.28 Bn|
Amcor PLC, Dupont De Nemours Inc., Steripack Ltd, Wipak Group, Placon Corporation, Riverside Medical Packaging Company Ltd, Tekni-Plex Inc., BillerudKorsnäs AB, Sonoco Products Company, DWK Life Sciences GmbH, Technipaq Inc., 3M Co. (3M Packaging), and Nelipak Healthcare
|Restraints & Challenges:||
Global Sterile Medical Packaging Market Opportunities:
Global Sterile Medical Packaging Market Trends:
Global Sterile Medical Packaging Market Restraints:
Challenges associated with maintaining medical packaging integrity
Challenges associated with maintaining medical packaging integrity are a prime factor restricting market growth to some extent.
Environmental concern regarding the use of plastic for packaging of medical
Growing environmental concern regarding the use of plastic for packaging medical products is another key factor projected to hamper market growth. Polyvinyl Chloride (PVC) has been widely used in the medical field for more than 50 years. Moreover, plastics are also subjected to strict testing to ensure their safety and compatibility with the intended usage.
Global Sterile Medical Packaging Market Segmentation:
Figure 1. Global Sterile Medical Packaging Market by Material Type in 2022
The global sterile medical packaging market report is segmented into material type, product type, application type, and region
Based on material type, the market is segmented into plastics-PP, paper and paperboard, glass, and other types. Out of which, plastics is expected to dominate the global market over the forecast period, and this is attributed to the growing use of plastic in manufacturing IV tubing and blood bags. PVC is the most common plastic used in the medical industry for packaging of device and drugs.
The glass segment is also expected to witness significant growth in the near future, as it is the most common packaging material used in the packaging of drugs and other pharmaceutical formulations. Moreover, glass does not leak, which can prevent contamination of pharmaceutical items.
Figure 2. Global Sterile Medical Packaging Market by Region in 2022
Regionally, North America is projected to dominate the global sterile medical packaging market over the forecast period owing to its increasing aging population, growing healthcare spending capacity, availability of advanced medical delivery systems, and aggregate gross domestic product (GDP) levels. Moreover, increasing investment by key players in sterile medical packaging is again projected to fuel regional market growth. For instance, in May 2020, Packaging Compliance Labs LLC announced it would invest US$2.57 million to expand its headquarters in the greater Grand Rapids area. The sterile packaging for medical devices, engineering, and testing firms were awarded a US$135,000 jobs-ready Michigan grant from the Michigan Strategic Fund for the project. With the expansion of the packaging company, this significantly contributes to the regional market’s growth.
At the same time, Asia Pacific is projected to witness the fastest growth in the global market over the forecast period owing to the expanding pharmaceutical industry in countries such as India and China. The market is predicted to rise three times in the next decade, according to the Indian Economic Survey 2021. In 2021, India's domestic pharmaceutical market is expected to be worth US$42 billion, rising to US$65 billion by 2024 and US$120- 130 billion by 2030.
Global Sterile Medical Packaging Market: Key Developments
Global Sterile Medical Packaging Market: Key Companies Insights
The global sterile medical packaging market is highly competitive. This is attributed to the continuous launch of new technologies due to ongoing Research & Development and efforts by value chain participants. Moreover, key players are adopting various business growth strategies in order to expand their presence on a regional and global basis. Some of the key players in the global sterile medical packaging market are Amcor PLC, Dupont De Nemours Inc., Steripack Ltd, Wipak Group, Placon Corporation, Riverside Medical Packaging Company Ltd, Tekni-Plex Inc., BillerudKorsnäs AB, Sonoco Products Company, DWK Life Sciences GmbH, Technipaq Inc., 3M Co. (3M Packaging), and Nelipak Healthcare
*Definition: Sterile medical packaging is an essential step in the medical industry and is necessary for minimizing the chances of contamination and disease transmission.
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