According to a research survey conducted by ChemView Consulting, in 2022, the Global Sterile Medical Packaging Market was worth US$ 40.9 Bn and is expected to grow at a CAGR of 7.7% over the forecast period. The market is expected to hit US$ 74.1 Bn by 2030 end.
Due to the rising demand for sterile medical packaging equipment, the market for sterile medical packaging is flourishing amid the coronavirus epidemic. The increased demand and supply of pharmaceutical medications, vaccinations, and medical equipment like syringes and masks are caused by the coronavirus’s expanding geographic range.
According to Chemview Consulting, one of the main reasons propelling the worldwide market for sterile medical packaging is the healthcare sector’s phenomenal rise. The healthcare sector has seen an increased demand for sterile medical packaging solutions during the coronavirus epidemic. Developing nations are investing in healthcare to meet the rising medical equipment and supply demand. The market for sterile medical packaging is expanding due to the increased need for flexible and effective packaging solutions for medical supplies.
The worldwide market for sterile medical packaging is driven by increased government expenditure on healthcare, bettering healthcare infrastructure, and expanding awareness of surgical techniques utilizing cutting-edge technology. The demand for high-quality sterile medical packaging solutions is rising as surgical operations, and cardiovascular disease rates increase globally.
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Segments Covered in Report
By Product Type:
- Thermoformed Trays
- IV Containers & Bags
- Sterile Lid
- Die-cut Baker Cards
- Guided Wire Hoops
- Sterile Wraps
By Material Type:
- Foam Sheets
By End Use:
- Medical Disposable Supplies
- Surgical Preparation Kits
- Sutures & Catheters
- Pre Packaged Medical Supplies
- Medical Equipment
- Peripheral Vascular
- Injection System
- Electrosurgical Accessories
By Region and Country:
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
- Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
- Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
- Africa (South Africa, Nigeria, Egypt, Rest of Africa)
- Based on product type, the most profitable product type among the others is expected to be die-cut baker cards. During the projection period, the die-cut baker cards product type sector is anticipated to increase at a CAGR of 6.5%. Die-cut mounted cards are predicted to experience substantial growth shortly since they are more affordable and environmentally friendly than the alternatives currently on the market.
- Based on material type, over the next ten years, the plastics sector is expected to present an incremental potential of around US$ 3.0 Bn. Plastic is an excellent material for molding into various forms, and its strong barrier qualities make it ideal for sterile medical packing.
- Based on region, Asia Pacific presents significant growth possibilities for market participants in sterile medical packaging. The region is expected to hold a market share of 34.0%.India and other Asian nations are projected to control the industry due to their fast-growing healthcare infrastructure. Growing regional pharmaceutical research and development spending is projected to stimulate market expansion.
Key companies covered in the market study are Orchid Chemicals and Pharmaceuticals Ltd, Amcor Ltd, West Pharmaceuticals Services Inc, Oliver Tolas Healthcare Packaging, MULTIVAC Sepp Haggenmueller SE and Co KG, Bemis Company Inc, Steripack Ltd, Oracle Packaging Inc, Riverside Medical Packaging Company, Janco Inc, Selenium Medical, DuPont De Nemours and Company, Wipak Walsrode Gmbh and Co and Placon Corporation.
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Report Key Highlights and Coverage
- Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
- Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
- The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
- Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
- Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
- Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
- Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
- Key drivers, restraints, opportunities, and emerging trends impacting the market growth.
- Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
- Strategic market analysis, recommendations, and future headways on crucial winning strategies.
About ChemView Consulting
ChemView Consulting is a leading information, market intelligence, and business consulting firm serving clients worldwide in Chemical & Materials, Food & Beverage, Oil & Gas, Clean Energy & Power, and Packaging domains. In their business transformation journey, we have been collaborating with global enterprises, including 70% of the largest Forbes 1000 enterprises, helping them deliver on their business ambitions. ChemView Consulting serves clients in approximately 100 countries, with its office in New York, U.S., and Pune, India.
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