Sterile Medical Packaging Global Market to Reach $60.2 Billion by 2026 at a CAGR of 9%

DUBLIN, Sept. 5, 2022 /PRNewswire/ -- The "Sterile Medical Packaging Global Market Report 2022, By Material, By Type, By Application" report has been added to ResearchAndMarkets.com's offering.

The global sterile medical packaging market is expected to grow from $38.61 billion in 2021 to $42.7 billion in 2022 at a compound annual growth rate (CAGR) of 10.6%. The market is expected to grow to $60.2 billion in 2026 at a compound annual growth rate (CAGR) of 9%.

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.

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.

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 2021, Johnson & Johnson consumer health division invested $800 million through 2030 towards adoption of future sustainable packaging solutions.

Scope
Markets Covered:

1) By Material: Plastics; Glass; Metal; Paper & Paperboard; Other Materials
2) By Type: Thermoform Trays ; Sterile Bottles & Containers; Sterile Closures; Pre-Fillable Inhalers; Pre-Fillable Syringes; Vials & Ampoules; Blister & Clamshells; Bags & Pouches; Wraps; Other Types
3) By Application: Pharmaceutical & Biological; Surgical & Medical Instruments; In-Vitro Diagnostic Products; Medical Implants; Other Applications

Key Topics Covered:

1. Executive Summary

2. Sterile Medical Packaging Market Characteristics

3. Sterile Medical Packaging Market Size And Growth

4. Sterile Medical Packaging Market Segmentation

5. Sterile Medical Packaging Market Regional And Country Analysis

6. Asia-Pacific Sterile Medical Packaging Market

7. China Sterile Medical Packaging Market

8. India Sterile Medical Packaging Market

9. Japan Sterile Medical Packaging Market

10. Australia Sterile Medical Packaging Market

11. Indonesia Sterile Medical Packaging Market

12. South Korea Sterile Medical Packaging Market

13. Western Europe Sterile Medical Packaging Market

14. UK Sterile Medical Packaging Market

15. Germany Sterile Medical Packaging Market

16. France Sterile Medical Packaging Market

17. Eastern Europe Sterile Medical Packaging Market

18. Russia Sterile Medical Packaging Market

19. North America Sterile Medical Packaging Market

20. USA Sterile Medical Packaging Market

21. South America Sterile Medical Packaging Market

22. Brazil Sterile Medical Packaging Market

23. Middle East Sterile Medical Packaging Market

24. Africa Sterile Medical Packaging Market

25. Sterile Medical Packaging Market Competitive Landscape And Company Profiles

26. Key Mergers And Acquisitions In The Sterile Medical Packaging Market

27. Sterile Medical Packaging Market Trends And Strategies

28. Sterile Medical Packaging Market Future Outlook and Potential Analysis

29. Appendix

 Companies Mentioned

• 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
• Steripack Ltd.
• BillerudKorsnas
• Techinipaq Inc.
• GS Medical Packaging Inc.
• Sonoco Products Company
• Nelipak Healthcare Packaging
• Janco INC.

For more information about this report visit https://www.researchandmarkets.com/r/30hn3x

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

SOURCE Research and Markets