Major players in the sterile medical packaging market are Amcor Limited, DuPont De Nemours and Company, 3M Company, West Pharmaceutical Services, Inc. , Oliver Healthcare Packaging LLC, Placon Corporation, Oracle Packaging, Riverside Medical Packaging Company Ltd, Wipak Group.
New York, July 09, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Sterile Medical Packaging Global Market Report 2021: COVID-19 Growth And Change" - https://www.reportlinker.com/p06103741/?utm_source=GNW
, Steripack Ltd., BillerudKorsnäs, Techinipaq Inc., GS Medical Packaging Inc., Sonoco Products Company, Nelipak Healthcare Packaging, and Janco INC.
The global sterile medical packaging market is expected to grow from $34.26 billion in 2020 to $38.61 billion in 2021 at a compound annual growth rate (CAGR) of 12.72%. The growth is mainly due to the outbreak of COVID-19 that increased demand for the companies that cater medical equipment to treat the affected patients. The market is expected to reach $54.44 billion in 2025 at a CAGR of 8.97%.
The sterile medical packaging market consists of sales of non-reusable sterile medical packaging utilized for the protection of medical products used in the healthcare industry against microbial contamination.This packaging is intended to protect the sterility from the point of packaging, until the time of use.
Only goods and services traded between entities or sold to end consumers are included.
The main types of sterile medical packaging are thermoform trays, sterile bottles & containers, sterile closures, pre-fillable inhalers, pre-fillable syringes, vials & ampoules, blister & clamshells, bags & pouches, wraps. The different materials used for manufacturing the packaging include plastics, glass, metal, paper & paperboard for use in pharmaceutical & biological, surgical & medical instruments, in-vitro diagnostic products, medical implants and other industries.
North America was the largest region in the sterile medical packaging market in 2020. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Strict regulations with respect to the specifications and materials used by the firms in manufacturing sterile medical packaging are expected to restrain the market growth.The compliance with the regulations is required as the small flaw in the packaging can contaminate the product and endanger the life of a patient.
For instance, Food and Drug Administration (FDA) has established several sterilization validation standards such as ISO 11137 consensus standard for radiation validation. Such standards necessitate specialized skills, resources, money and time, that limits the growth of sterile medical packaging.
In June 2019, Amcor, a packaging company for food, beverage, pharmaceutical, medical, home- and personal care, and other products acquired Bemis Company for undisclosed amount.This acquisition was aimed to establish Amcor as the global leader by scaling the production and generate significant values with industry-leading R&D capabilities.
Bemis Company, a US-based company is a manufacturer of flexible packaging products including sterile packaging solutions for healthcare industry among others.
Increased prevalence of infectious diseases and viruses has led to an increase in demand for sterile medical packaging to prevent any contamination, is expected to contribute to the growth of the market.Infectious diseases are caused by infectious agents and can be passed from one person or animal to another.
According to the WHO, in April 2021, globally, 150 million COVID-19 confirmed cases were reported and 3.1 million deaths. The increased number of cases of infectious diseases increased the demand for the sterile medical packaging market.
Environmental friendly packaging is an emerging trend in the sterile medical packaging market.Concerned about growing waste, and plastic pollution of the oceans, medical products manufacturing companies are adopting future sustainable business practices and showing interest towards utilization of packaging materials that are renewable and recyclable.
Several pharmaceutical companies are switching to environmental friendly sterile packaging to meet their sustainability goals.For instance, in January 2021, AstraZeneca has launched a sustainability plan worth $1 billion that has several sustainable packaging initiatives underway to reduce the carbon footprint by 2030.
In September 2020, Johnson & Johnson consumer health division invested $800 million through 2030 towards adoption of future sustainable packaging solutions.
The countries covered in the sterile medical packaging market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
Read the full report: https://www.reportlinker.com/p06103741/?utm_source=GNW
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