Global Medical Implant Sterile Packaging Market, by Product Type (Pouch and Bags, Clamshell, Blister, Tubes, Vials, and Others (Boxes)), by Material Type (Plastic, Paper, Foil, and Glass), by Application (Spinal Implants, Reconstructive Joints (Hip Joints, Knee Joints, Elbow Joints, and Other Small Joints), Extremity Braces and Support (Knee, Elbow, Wrist, Hand, and Foot/Ankle), Dental Implants, Cardiovascular Implants, and Other Implants), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) 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), as highlighted in a new report published by Coherent Market Insights.
The rising role of contract sterilization service is expected to propel the market growth over the forecast period. Many OEMs are looking for contract manufacturers that offer in house sterilization service, so that the organization can focus on cutting down the overall production and develop new innovative medical implants, as these contract service providers are one-stop-shop for the manufacturers. Therefore, rising demand for sterilization service is expected to propel the market growth over the forecast period.
Development of the innovative technologies for medical implant sterile packaging is expected to propel the market growth.
Introduction of newer and complex medical implants with different testing and packaging solution is driving manufacturers to introduce innovative packaging technique and to focus towards improving the packaging of these complex devices, which is expected to drive growth to the market over the forecast period. For instance, Nelson is engaged in developing several alternative approaches for complex medical combo products. Various companies are focusing on mitigating risk to the supply chain pipeline and many OEMs are planning for all aspects of production such as sterilization and packaging. Hence this is expected to foster the market growth. Moreover, shifting material preference by the manufacturers in the Middle East and Africa is further expected to augment the market growth.
Browse 35 Market Data Tables and 38 Figures spread through 167 Pages and in-depth TOC on " Global Medical Implant Sterile Packaging Market, by Product Type (Pouch and Bags, Clamshell, Blister, Tubes, Vials, and Others (Boxes)), by Material Type (Plastic, Paper, Foil, Glass), by Application (Spinal Implants, Reconstructive Joints (Hip Joints, Knee Joints, Elbow Joints, Other Small Joints), Extremity Braces and Support (Knee, Elbow, Wrist, Hand, and Foot / Ankle) Dental Implants, Cardiovascular Implants, and Other Implants), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), – Global Forecast to 2027"
To know the latest trends and insights prevalent in the Global Medical Implant Sterile Packaging Market, click the link below:
https://www.coherentmarketinsights.com/market-insight/medical-implants-sterile-packaging-market-995
The increasing adoption of the inorganic growth strategies such as acquisitions and collaborations by market players are expected to drive growth of the global medical implant sterile packaging market, over the forecast period. 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. Similarly, in August 2019, Kohlberg closes on Bemis Healthcare Packaging Europe acquisition, and merges with Nelipak, a developer and manufacturers of custom designed thermoformed packaging for the medical device and pharmaceutical
Key Takeaways of the Global Medical Implant Sterile Packaging Market:
- Global medical implant sterile packaging market is expected to exhibit a CAGR of 7.1% over the forecast period (2019-2027), owing to increasing product launches by key players in the medical implant sterile packaging market. For instance, in July 2017, ECA Medical Instruments launched sterile-packed instrument set to protect cannulated titanium screw. Along with this, company also launched sterile pack kits and instruments for hand and wrist repair, joint arthroplasty, and spine implants.
- Among application, dental implant is one of the major segment and is expected to witness significant growth, owing to increasing number of dental implantation procedures. For instance, according to statistics by the American Academy of Implant Dentistry in August 2018, around 3 million people in the U.S. received dental implants. Moreover, around 500,000 people undergo dental implantation treatment each year in the U.S.
- Some of the major players operating in the global medical implant sterile packaging market include Oliver Tolas, Bemis Company, Inc, Steripack Contract Manufacturing, Orchid Orthopedic Solutions LLC, Multivac Group., Janco Inc, and Sealed Air Corporation
