Sterile Medical Packaging Market to Expand at CAGR of 4.7% During Forecast Period, Observes TMR Study

ALBANY, N.Y., Dec. 17, 2021 /PRNewswire/ -- Transparency Market Research: The global sterile medical packaging market is estimated to register growth at a CAGR of 4.7% during the forecast period, from 2021 to 2031. The global market is projected to reach US$ 15.9 Bn by 2031. Sterile medical packaging is crucial in limiting the spread of a variety of life-threatening infections; therefore, it has gained momentum recently with the prevalence of COVID-19, Nipah Virus, etc. In order to prevent the transmission of infection, sterile medical packaging devices such as thermoformed trays, clamshell-packaging containers, wraps, pouches, and other products are utilized.

In healthcare, there has been a marked shift for plastic-based medical packaging solutions over glass-based medical packaging solutions. Excellent flexibility of plastic material toward molding into diverse forms and strong barrier qualities make it ideal for sterile medical packaging, which is projected to promote its application in the plastics industry.

For companies in the sterile medical packaging market, Asia Pacific offers substantial growth opportunities. Due to the region's rapidly developing healthcare infrastructure, the Asia Pacific region is projected to dominate the market. Increase in spending on the region's pharmaceutical research & development is expected to fuel market expansion.

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Key Findings of Market Report

• Increasing need of geriatric population for electrosurgical accessories, pre-packaged medical supplies, catheters, surgical devices, and medical equipment is likely to drive global market
• With rise in cardiovascular disorders rises and surgical procedures, the demand for high-quality sterile medical packaging solutions is expected to increase
• Rising need for effective and flexible packaging solutions for medical supplies is anticipated to bolster the expansion of the global sterile medical packaging market. Increasing investments toward developing various healthcare equipment and devices used in surgeries are expected to boost global market.
• Private health insurance (PHI) firms also have a significant impact on the healthcare system. Development of the sterile medical packaging market is predicted to be aided by the overall impact of per capita healthcare spending and increase in uptake of health insurance policies.
• The global sterile medical packaging market is likely to be driven by steadily increasing awareness about sophisticated surgical techniques and technological advancements in healthcare. Besides, investments by countries to improve the healthcare system are also projected to offer lucrative opportunities to market participants.

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• Sterile Medical Packaging Market: Growth Drivers
• With rising medical disorders associated with aging, the geriatric population is expected to emerge as one of the key segments demanding medical services, which is likely to influence the sterile medical packaging market
• End-use industries are moving away from glass-based sterile medical packaging toward plastic-based sterile medical packaging, owing to lower cost of production and easier availability of plastic worldwide
• To acquire maximum share of the market, manufacturers of pharmaceutical and medical devices packaging are constantly improving their product portfolio by introducing better sterile packaging solutions. This factor is likely to fuel market expansion during the forecast period.

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Sterile Medical Packaging Market: Key Competitors

Some of the key market players are

• Oliver Healthcare Packaging, LLC.
• DuPont de Nemours, Inc.
• Nelipak Healthcare Packaging
• Placon Corporation Inc.
• SteriPack Contract Packaging
• Sonoco Products Company

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Sterile Medical Packaging Market: Segmentation

Product Type

• Thermoformed Trays
• Clamshell
• IV Containers & Bags
• Sterile Lid, Pouches
• Die-cut Baker Cards
• Guided Wire Hoops
• Sterile Wraps

End Use

• Plastic
• Paper
• Foil
• Non-woven
• Foam Sheets

Application

• Medical Disposable Supplies
• Medical Equipment

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