The global sterile medical packaging market size is expected to reach USD 47.89 billion by 2027, exhibiting a CAGR of 5.5% during the forecast period. The increasing prevalence of infectious and communicable diseases and viruses such as COVID-19, flu, tuberculosis, and SARS has led to improved hygiene in medical devices intending to prevent any contamination or spread of disease in patients. The focus towards robust packaging in medical devices such as syringes, needles, bandages, face masks, gloves, applicators, suction catheters, testing kits, and surgical sponges, will positively influence the market growth.
The packaging used in these devices necessitates effectual maintenance for sterility. Thus, the need for effective packaging solutions will propel the market during the forecast period. In addition, the rising demand for single-use medical equipment owing to ethical and hygiene aspects for protection against the risks of disease transmission will foster healthy growth of the market in the forthcoming years.
Global COVID-19 Impact Analysis:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
Browse Summary of This Research Insights with Detailed TOC:
The Report Lists the Key Companies in the Sterile Medical Packaging Market:
- Amcor Plc (Switzerland)
- Placon (U.S.)
- DuPont (U.S.)
- Steripack Ltd. (Ireland)
- Wipak Group (Finland)
- Nelipak Healthcare (U.S.)
- Sonoco (U.S.)
- BillerudKorsnäs AB (Sweden)
- ProAmpac (U.S.)
- West Pharmaceutical Services, Inc. (U.S.)
- Riverside Medical Packaging Company Ltd (UK)
- Oliver Healthcare Packaging (U.S.)
- GS Medical Packaging (Canada)
- Orchid (U.S.)
- Techinipaq Inc. (U.S.)
Well-Established Pharmaceutical Industry to Encourage Growth in North America
The market in North America stood at USD 11.30 Billion in 2018 and is expected to hold the largest share during the forecast period owing to the well-established pharmaceutical industry. The growing healthcare spending and surge in the patient population will contribute significantly to the market in the region. The outbreak of coronavirus will further enhance the development of the market in North America. Europe is predicted to grow rapidly in the forthcoming years owing to the rising use of medical equipment such as thermoform trays, sterile bottles & containers, vials & ampoules, and pre-fillable syringes, in various medical applications.