Sterile Medical Packaging Market Estimated To Reach USD 76.1 Billion by 2028 Says Reports And Data

The global sterile medical packaging market size is expected to grow from USD 37.1 billion in 2020 to a staggering USD 76.1 billion in 2028, demonstrating a CAGR of 9.7% throughout the forecast period. The growth of the global market is primarily accredited to the surging prevalence of acute and chronic disorders, increasing incidences of contagious diseases, enhanced safety standards for medical packaging, and technological enhancements in medical packaging techniques. Sterilization plays a vital role in medical packaging as it offers a strong barrier against bacterial or microbial transmission. Hence, non-reusability and a robust microbial barrier make sterile medical packaging the safest and most effective form of medical packaging. This type of packaging safeguards the packed medical or pharmaceutical product from heat, moisture, and extreme environmental conditions. Sterile medical packaging is made of materials such as plastic (including LDPE, HDPE, PVC, etc.), metal, glass, and paper & paperboard. Moreover, the most prominent characteristics of sterile medical packaging are enhanced durability, robust tear resistance, extended shelf life, and microbial barrier.

The expanding transportation & logistics sector and rising shipments of pharmaceutical products create plenty of opportunities for the growth of the global sterile medical packaging market. However, the market growth is hampered by the rigid norms set by regulatory bodies like the U.S. FDA regarding sterile medical packaging.

For Exclusive Sample Report https://www.reportsanddata.com/sample-enquiry-form/3844

The well-established companies involved in the global sterile medical packaging market include:

Amcor Plc, DuPont, Sonoco, ProAmpac, Tekni-Plex, Techinipaq Inc., Steripack Ltd., Wipak Group, Nelipak Healthcare, GS Medical Packaging, and Oliver Healthcare Packaging.

Key Highlights of the Report:

  • On the basis of type, the thermoform trays segment is expected to emerge as the leading market segment over the projected timeframe. The versatile design, superior flexibility, and excellent biocompatibility of thermoform trays make them a brilliant packaging solution. These trays protect the packed pharmaceutical product against damage or breakage. They are highly customizable and can also be molded into various shapes and sizes.
  • Based on material, the plastic segment is projected to account for the highest market revenue in the upcoming years. The growth of this segment is attributed to the escalating demand for high-performance polymers, such as LDPE, HDPE, PVC, and PET, for the production of blood containers, vials & ampoules, pre-filled syringes, sterile bottles, closures, and pouches.
  • Of the leading market regions, the North America sterile medical packaging market retained the largest share of the global market in 2020. The rapid spread of COVID-19 and other contagious diseases, rising public awareness the importance of health & hygiene, technological advancements in medical packaging, and augmented consumer spending on healthcare products have propelled the region’s market growth.

Ask for Customize Research Report https://www.reportsanddata.com/request-customization-form/3844

For the purpose of this report, the global sterile medical packaging market has been segmented based on type, material, application, sterilization method, and region:

By Type (Revenue, USD Billion; 2018-2028)

  • Sterile bottles
  • Sterile closures
  • Thermoform trays
  • Vials & ampoules
  • Pre-filled syringes
  • Pre-fillable inhalers
  • Bags & pouches
  • Blister & clamshells
  • Wraps
  • Others

By Application (Revenue, USD Billion; 2018-2028)

  • Surgical & medical equipment
  • Pharmaceutical & biological
  • In vitro diagnostic products
  • Medical implants
  • Others

Buy now https://www.reportsanddata.com/report-pricing/3844

Key point summary of the report:

  • The report offers a comprehensive overview of the market size, share, and growth rate in the forecast duration.
  • It provides details about current scenario, historical data, giving an accurate market forecast for the coming years.
  • The study categorizes the market on the basis of product types, applications, end users, market value and volume, business verticals, and 5 major regions.
  • It also offers regional market analysis and forecast for prominent geographies in the sector viz., North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
  • Industry supply chain, sourcing strategy, upstream feedstock, and downstream demand analysis has also been undertaken in the research report.
  • The study offers a comprehensive understanding of the demand and supply dynamics, including production and consumption rates, and mapping of the overall market.
  • The report employs different analytical tools including, SWOT analysis, Porter’s five forces analysis, and pricing analysis, to give precise market information.

The report emphasizes the following key questions

Q.1. What are the most lucrative and promising growth prospects for the market?

Q.2. Which sectors are expected to deliver a high growth rate and which industry aspects come into play in this advancement?

Q.3. Which geographies are estimated to exhibit the highest growth and the underlying causes?

Q.4. Which factors are impacting the future of the market and what are the driving factors?

Q.5. What are the hurdles and challenges curtailing the industry’s growth in the forecast period?

Inquiry before buying https://www.reportsanddata.com/inquiry-before-buying/3844

About Us:

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market.

You may also like...

Leave a Reply

Your email address will not be published. Required fields are marked *