Oracle Packaging

Oct 27, 2022

The global sterile medical packaging market is anticipated to witness a growth of steady CAGR in the forecast period, 2023-2027. This can be attributed to the increased demand for sterile medical packaging products from the healthcare sector. Sterile packaging of different products across the healthcare industry can be done in the form of wraps, pouches, containers, among others in order to protect medical supplies from the outside environment and against accidental infection transmission. Additionally, growing healthcare awareness among the population worldwide along with growing concerns for infection control is further expected to increase the demand for sterile medical packaging products, thereby driving the growth of sterile medical packaging market. Growing Geriatric Population The growing geriatric population worldwide which is susceptible to various communicable and non-communicable diseases along with injuries, falls and accidents has significantly increased the demand for different disposable medical supplies. According to United Nations, Department of Economic and Social Affairs, Population Division, number of persons aged 65 years or above in 2019 were around 702.9 million globally and this number is expected to increase to 1548.9 million by 2050. Additionally, the demand for medical devices, catheters, pre-packaged medical supplies, electrosurgical accessories, among others has significantly increased due to the geriatric population. This in turn is expected to positively influence the demand for sterile medical packaging, thereby driving the market growth. Benefits Associated with Sterile Packaging Products There are numerous benefits associated with sterile packaging products used across healthcare industry. These include protection from microbes and contamination. Additionally, use of plastics & papers as a sterile packaging option offers advantages such as light weight, recyclability and longer shelf life of the product. Additionally, sterile medical packaging protects the medical devices, consumables and other products from damage caused by environmental conditions, such as moisture during transit. Furthermore, there are several other benefits associated with sterile medical packing such as tear resistance, rigidity, breathability, and an excellent microbiological barrier which helps in maintaining the sterility of medications and medical equipment for the course of their lifecycles. These characteristics would increase the need for such packaging in a variety of applications, including surgical and medical devices as well as in vitro diagnostic products. Growing Focus on Sustainability The increasing environmental awareness and rising concerns over sustainability has made various companies operating within the packaging industry to look for options that are not only affordable, offer similar benefits and are also eco-friendly in nature. The players operating in the sterile medical packaging industry are focusing on developing packaging solutions that not only reduce the cost but at the same time maintain the integrity of product packages. This in turn is expected to create lucrative opportunities for the growth of global sterile medical packaging market. For instance, in November 2019, Amcor plc, invested around USD11 million the all-new multi-layer cast extrusion technology which produces a film of up to 11-layers to create safe, durable, and cost-efficient medical device packaging. This technology will help medical device customers meet the regulatory demands along with ensuring cost savings in terms of material cost and will also ensure overall product sterility. Report Scope In this report, global sterile medical packaging market has been segmented into following categories, in addition to the industry trends which have also been detailed below: Sterile Medical Packaging Market, by Type: Thermoform Trays Plastics Chemical Sterilization Pharmaceutical & Biological North America