The market for sterile medical packaging is growing worldwide on account of rising investments in the healthcare sector, increasing aging population, and outbreaks of infectious diseases. The recent outbreak of Covid-19 has also helped in driving growth in the sterile medical packaging market. The product development initiated jointly by chemical/polymer resin companies and medical device packaging converters has resulted in new products and technologies which in turn aided the growth of this market. New technologies or processes like co-extrusions and new materials like good new flexible materials such as metallocene plastics have also helped driving growth in this market. Medical Packaging companies need to adhere to strict guidelines, rules, and regulations thus the selection of packaging materials is highly crucial and these materials should exhibit a high level of integrity. Different types of medical packaging products include sterile barrier pouch systems, custom medical trays, and lid products.
The coronavirus pandemic has impacted the major industries and business segments across the globe. Major countries such as U.S., U.K., China, and India, among others were heavily impacted by the COVID-19 pandemic. The covid-19 pandemic led to an increase in the demand for medical supplies like medicines, masks, devices, syringes, etc. leading to an increased demand for their primary and secondary packaging thereby driving growth in the sterile medical packaging market.
The plastic segment is expected to account for the largest share of the sterile medical packaging market in the forecast period
On the basis of material type sterile medical packaging can be segmented as plastics, metal, glass, and others. The plastic segment of the sterile medical packaging captured the largest market revenue share in the year 2020. Plastic polymers used to make sterile medical packaging include HDPE, polyester, and polypropylene. These are extensively used to make bottles, vials & ampoules, and pre-filled syringes in the sterile medical packaging market. Change in focus towards sustainable packaging is the major trend impacting this segment.
North America dominated the sterile medical packaging market in 2020. It accounted for the largest global market share in terms of revenue. The region is also expected to grow in terms of the highest CAGR in the forecast period. This region is envisaged to maintain its dominance throughout the forecast period. The presence of significant companies in the region will be the major driving factor for the regional market. Extensive R&D and innovation activities have also helped in creating lucrative opportunities for the regional market growth. The other factors which helped in driving growth in North America include multiple regulations imposed by the FDA, which assisted in creating demand for sustainable and high-quality products. The Asia Pacific and Latin America regions have also created new opportunities for manufacturers due to the presence of a large number of pharmaceutical manufacturers in these regions.
The pharmaceutical segment is expected to account for the largest share of the sterile medical packaging market during the forecast period.
In terms of application the pharmaceutical & biological application expected to lead the sterile medical packaging market in the forecast period. The growth of this segment has been characterized by trends and technological advancements on account of the advent of new healthcare medicines. The processing and packaging of pharmaceutical & biological products undergo a stringent quality control process which comprises of extensive inspections, quality checks to ensure adherence to regulatory compliances about the drug contents and the material used in packaging.
The thermoform trays segment is expected to account for the largest share of the sterile medical packaging market in the forecast period
Based on type, the sterile medical packaging market can be segmented as Thermoform Trays, Bottles, Vials & Ampoules, Blister & Clamshells, and Others. Thermoform trays segment is expected to be the biggest segment and at the same time projected to record the highest CAGR. Semi-rigid and flexible are two types of thermoform trays popular in the healthcare industry. These are increasingly gaining popularity on account of their versatile nature, transportation ease, and lightweight.
|1||The sterile medical packaging industry players are increasing their production to meet the additional demand for healthcare products needed to tackle the ongoing Covid-19 pandemic||Positive|
|2||Continuous product innovation and technological advancements||Positive|
|3||Emergence of new materials such as metallocene polyolefins and co-extrusion processes||Positive|
The research report analyses the ecosystem of the sterile medical packaging market and categorizes the sterile medical packaging market to forecast the revenues and analyze the trends in each of the following below-mentioned market segments.
By Sterilization Method
By Type of Packaging
|Sr. No.||Date||News Category||Description|
|1||Apr-21||Partnership||Winpak and Wipak forged a partnership to form a new global brand: Wiicare for healthcare packaging. The objective of this alliance is to become the most successful supplier of healthcare packaging at a global level|
|2||Mar-21||Investment||Berry established a dedicated global rigid healthcare packaging and device business unit. The company is also focusing on the digitalization of packaging and healthcare products|
|3||Dec-20||Investment||Technipaq Inc . a leading manufacturer of flexible sterilizable packaging solutions investment in sophisticated air-knife coating machines. This investment helped it to find a place in a group of few medical packaging manufacturers that have such unique capabilities|
|3||Aug-20||Rebranding||TEQ rebranded its business post Sonoco acquisition. Thermoformer TEQ was formerly known as Plastique across Europe. Post the acquisition the company has renamed its brand all its manufacturing locations as TEQ.|
The unique insights provided by this report also includes the following:
Priyanka has been writing chemicals & material market research reports for the last 12 years. A post-graduate, her specialization is in the chemicals sector. Preparing end-to-end reports covering minute details for market insights, competitive intelligence and trend analysis in the CMFE sector.