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Sterile Medical Packaging Market is Set to be Valued at Around $57.7 billion in Revenue by 2025| MarketsandMarkets™ Report

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Sterile Medical Packaging Market is Set to be Valued at Around $57.7 billion in Revenue by 2025| MarketsandMarkets™ Report

March 21
09:28 2023
Sterile Medical Packaging Market is Set to be Valued at Around $57.7 billion in Revenue by 2025| MarketsandMarkets™ Report
Browse 188 market tables and 40 figures spread through 186 pages and in-depth TOC on “Sterile Medical Packaging Market”
Sterile Medical Packaging Market by Material (Plastics, Metal, Glass, Others), Type (Thermoform Trays, Bottles, Vials & Ampoules, Blister & Clamshells, Others), Application (Surgical Instruments, Pharmaceutical, Others)

Sterile medical packaging is used to protect sterile medical and pharmaceutical products. It is intended to keep microorganisms and other external contaminants out of the contents. Sterile packaging is commonly used for surgical instruments, syringes, catheters, and other medical devices. It is also used in the manufacture of pharmaceuticals such as antibiotics and chemotherapy drugs. Sterile packaging is required to keep medical products sterile during storage, transportation, and use. The plastic sterile medical packaging segment is expected to lead the sterile medical packaging market. This growth can be attributed to its high consumption and increasing demand from end-users. Plastic polymers, such as HDPE, polyester, and polypropylene, are used extensively in the manufacturing of bottles, vials & ampoules, and pre-filled syringes in the sterile medical packaging market.

The sterile medical packaging market size is estimated to be USD 36.9 billion in 2020 and is projected to reach USD 57.7 billion by 2025, at a CAGR of 9.4% from 2020 to 2025. Increasing investment, coupled with growth in the healthcare industry across the globe is expected to drive the growth of the sterile medical packaging market. The recent outbreak of Covid-19 is expected to have a positive impact on the sterile medical packaging market. 

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The sterile medical packaging market is divided into four categories: product type, material type, application, and end-use. From 2020 to 2025, the pharmaceutical & biological segment is expected to lead the market in terms of applications. The increased demand for sterile medical products for the packaging of vaccines, antibiotics, and other pharmaceutical products is attributed to this growth. Furthermore, the development of advanced healthcare facilities and the rise of medical tourism in developing countries are expected to provide a lucrative opportunity for the global expansion of the sterile medical packaging market. Because of the growing demand for safe and cost-effective packaging solutions, the use of sterile medical packaging in the healthcare industry has increased exponentially in recent years. The use of sterile medical packaging helps to protect products from external contamination, ensuring product safety and efficacy. This is also expected to drive market growth in the near future.

Due to its ability to provide an impermeable barrier to moisture, oxygen, and other contaminants, the thermoform tray segment is a major consumer of sterile medical packaging. It is produced in a variety of sizes and shapes to meet the needs of various medical applications, and it is commonly used to package medical devices and tools, pharmaceuticals, and other medical products. Thermoform trays provide superior product protection and can be sterilized using a variety of methods, including ethylene oxide, gamma radiation, and electron beam radiation, making them an excellent choice for sterile packaging.

During the course of the projection period, the Asia Pacific region is anticipated to consume the most sterile medical packaging. This is a result of the fast-expanding medical business in the area and rising healthcare costs. The demand for sterile medical packaging in the region is also being fueled by factors including the area’s vast population and growing awareness of the significance of medical packaging for the safe transport of medical products. Additionally, it is anticipated that the region’s abundance of healthcare facilities, medical institutions, and device makers will increase demand for sterile medical packaging. The market for sterile products is anticipated to be further fueled by additional factors such rising disposable incomes, technological improvements, and greater public awareness of the significance of sterile medical packaging in the region.

Major companies operating in the sterile medical packaging industry include Amcor Limited (Australia), Dupont De Nemours, Inc. (US), 3M Company (US), West Pharmaceutical Services, Inc. (US), and Sonoco Products Company (US).

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Amcor Limited (Australia) is one of the leading players in the sterile medical packaging market and has been adopting inorganic and organic strategies to sustain its market position. Amcor has strengthened its business operations by acquiring existing businesses that complement its operations. In June 2019, Amcor completed the acquisition of Bemis. This strategic combination establishes Amcor as the global leader in consumer packaging with a comprehensive global footprint, scale in every region, and industry-leading R&D capabilities. The acquisition provided the company with a wider geographical presence and greater scale in key regions of North America, Latin America, APAC, and Europe.

3M Company (US) is another major company in the sterile medical packaging market. It has been adopting organic and inorganic strategies to sustain its position in the market. In October 2019, the company completed the acquisition of Acelity, Inc. and its KCI subsidiaries worldwide. Acelity is a leading global medical technology company focused on advanced wound care and specialty surgical applications marketed under the KCI brand. This acquisition accelerated 3M as a leader in advanced wound care, which is a significant and growing market segment. In June 2018, the company also opened its new headquarters in Ang Mo Kio, Singapore.

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