May 27, 2024
Sterile Medical Packaging Market

Sterile Medical Packaging Market is Expected to be Driven by Growing Pharmaceutical Industry for Producing Sterile Drugs

The sterile medical packaging market consists of sterile packaging solutions that are used for medical devices, pharmaceutical products, and surgical instruments that require sterility to avoid contamination and infection. Sterile medical packaging solutions include pouches, trays, clamshells, bottles, bags, and boxes made from materials such as plastics, papers, aluminum foil, glass, and others. These packaging solutions maintain sterility and provide tamper evidence, ease of use, and prolonged shelf life.

The global sterile medical packaging market is estimated to be valued at US$ 63.77 billion in 2024 and is expected to exhibit a CAGR of 8.69% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

The growing pharmaceutical industry for producing sterile drugs is expected to be a major driver for the sterile medical packaging market over the forecast period. Sterile medical packaging plays a crucial role in maintaining sterility during production, transportation, and storage of pharmaceutical products and medical devices. According to the International Federation of Pharmaceutical Manufacturers & Associations, the global pharmaceutical market is estimated to witness a growth of 4-7% annually between 2020 to 2030, reaching a value of US$ 1.5-1.8 trillion. The rising demand for biologics drugs and injectables that require stringent sterile packaging solutions is further expected to boost the sterile medical packaging market growth. Along with this, increasing healthcare expenditure and growing demand for minimally invasive surgeries and medical devices requiring sterility will also fuel the sterile medical packaging market expansion during the forecast period.

Segment Analysis

The sterile medical packaging market is dominated by the plastic and polymers segment. Plastics and polymers make up nearly 50% of the materials used for sterile medical packaging as they provide effective moisture and gas barriers while being lightweight. Polymers like polyethylene and polypropylene are commonly used for primary packaging as they can easily be sealed and provide sterility. The plastics segment is expected to continue dominating the market over the forecast period due to stringent regulations regarding sterilization and growing demand for single-use packaging.

PEST Analysis

Political: Regulations around healthcare sterility and packaging sterilization like ANSI/AAMI/ISO standards ensure high quality sterilization for medical devices. Compliance to such regulations boosts the sterile medical packaging market.

Economic: A growing aging population and rising healthcare spending is increasing demand for medical devices, driving need for effective sterile packaging. The COVID-19 pandemic has also boosted packaging for vaccines and medical consumables.

Social: Rising awareness about prevention of hospital acquired infections is emphasizing the need for sterile packaging of medical instruments and single-use disposable packaging. Growth in minimally invasive surgeries increases packaging for small components.

Technological: Advances in high barrier polymers and designs that improved package integrity an sterilization validation are supporting market growth. Integrated monitoring systems provide evidence of sterilization and package integrity.

Key Takeaways

The Global Sterile Medical Packaging Market Size is expected to witness high growth.

The Asia Pacific region is expected to witness highest growth in the forecast period supported by growing medical tourism industry and demand for affordable healthcare in countries like India and China.

Key players operating in the sterile medical packaging market are DuPont, Bemis Company Inc., West Pharmaceutical Services, Amcor Limited, Placon. Sterile containers and closures generated highest revenue in 2020 as they provide tamper-proof packaging solutions for medical devices and pharmaceutical products. Sustainable and eco-friendly materials are gaining popularity to reduce environmental impact of single-use packaging. The COVID-19 pandemic increased focus on effective packaging for diagnostics, medical supplies and vaccines. Investments in aseptic filling and cutting edge sterilization technologies will further support market expansion.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it