The sterile medical packaging market is expected to register a CAGR of 9. 86% during the forecast period (2021 - 2026). The ongoing COVID-19 pandemic has posted a significant impact on market growth. Healthcare systems worldwide are being put under unprecedented strain by the devastating impact of COVID-19.
New York, June 14, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Sterile Medical Packaging Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" - https://www.reportlinker.com/p06195704/?utm_source=GNW Hospital sterilization centers are experiencing increased pressure to ensure the safety of both patients and frontline healthcare workers. The pandemic has opened up opportunities for innovation. Uflex, an FMCG and pharma package manufacturing firm, expects COVID-19 to propel the development of sterile and anti-microbial packaging solutions. Key Highlights The increasing competition among the manufacturers and the rising environmental concerns motivate the manufacturers to develop cost-effective packaging products that require fewer resources and provide better protection. Therefore, this is driving the growth of the market studied. As the packaging industry is witnessing an increase in growth, the market is also expected to grow. Multiple factors, such as the increasing elderly population, increasing demand from the healthcare sector, and reliable packaged products, are driving the need for sterile packaging products. Additionally, vendors are continuously expanding their operations to widen their product portfolio. For instance, Dordan Manufacturing Inc. (an ISO 9001:2015 certified company) initiated its cleanroom project to enhance its existing expertise in medical packaging. The company primarily designs, manufactures, and distributes custom thermoformed packaging for multiple industries. Moreover, ULMA Packaging has launched a new, easy-to-open flow pack package for the medical sector. The product is designed specifically to allow sterile products to be removed from the pack without contamination due to microorganisms and particles. The package is also sealed without leaks and uses a peelable film with already-integrated tyvek or paper panels that enable ethylene oxide (EtO) sterilization. Furthermore, factors such as the performance, application, and selection of a proper sterilization packaging system, are significant for sterilizing the packaged content. This is likely to maintain the sterility of the content within the package until the package is opened for further use, thus, enabling withdrawal of the content without infection. Key Market Trends Plastic Material is Expected to Hold a Significant Share Many partnerships in the industry have resulted in several innovations. The collaborative efforts between the chemical/polymer resin companies and medical device packaging converters have primarily resulted in new technologies and products. For example, the metallocene is a linear low-density polyethylene that offers greater seal integrity and robust performance. The new oxygen and moisture-barrier resins are autoclave sterilization compatible. The new polymer chemistries offer improved thermoformability performance in both speed and quality. The key focus of the manufacturers has been the improvement of the overall performance of the sterile barrier medical device packaging. This primarily relates to elements, such as physical properties, aged package stability, sterile barrier performance, ease of opening, and materials clarity. Moreover, hospitals have influenced the packaging industry by demanding more recyclability from the materials used for sterile packaging. Additionally, the ongoing demand for lower costs/pricing drives various innovations in the industry with materials and packaging designs. In December 2021, Peli BioThermal, a packaging solutions developer, announced the establishment of its newest service center in India. The new service center is located in Ahmedabad, a significant pharma production hub in India’s western region. Asia Pacific Accounts For the Largest Market Share During the anticipated period of 2021 to 2026, the Asia-Pacific pharmaceutical market is expected to grow rapidly. Pharma packaging has been boosted by the constantly developing pharmaceutical industry around the world. Pharmaceutical packaging is in high demand in densely populated areas such as India, Brazil, and China. Increased pharmaceutical output in these countries has boosted demand even further. The region comprises pharma giants, such as China and India, which are the world leaders in the pharmaceutical industry. The home market is predicted to rise thrice in the next decade, according to the Indian Economic Survey 2021. In 2021, India’s domestic pharmaceutical market is expected to be worth USD 42 billion, rising to USD 65 billion by 2024 and USD 120-130 billion by 2030. nIn FY20, India’s medical device market was worth USD 10.36 billion. From 2020 to 2025, the market studied is estimated to register a CAGR of 37% to reach USD 50 billion. In FY21, India’s medicine and pharmaceutical exports totaled USD 24.44 billion. India is the world’s 12th largest exporter of medical goods. Such a huge production capacity of the nation will boost the demand of the market studied in the region. During the forecast period, factors such as sustainable packaging, durability, and recyclables, as well as the growing propensity of various end-users, such as hospitals and medicine manufacturers, are likely to promote the use of glass. Due to supply chain interruptions, the prices of essential pharmaceutical ingredients have risen, which is projected to raise the costs of various product types. In the short run, this could be detrimental to the packaging sector. Market opportunities will be increased as a result of government initiatives. The Australian government, for example, announced AUD 1.3 billion Modern Manufacturing Initiative (MMI) and National Manufacturing Priorities in October 2020. The MMI will have a long-term impact on Australian packaging companies. Competitive Landscape The sterile medical packaging market is highly competitive, owing to several small and large players operating in domestic and international markets. The market appears to be moderately concentrated. The players in the market are adopting major strategies, like product innovations, mergers and acquisitions, and strategic partnerships, to widen their product portfolio and expand their geographical reach. Some of the players in the market are Amcor PLC, Steripack Ltd, Wipak Group, and Placon Corporation, among others. April 2021 - Amcor announced consumer trials of the world’s prime recyclable Polyethylene-based thermoform blister packaging, building on its recent developments to offer recyclable packaging. The new packaging meets the strict criteria of highly specialized and regulated pharmaceutical packaging while also providing a more sustainable alternative to the most popular type of healthcare packaging. This innovation also benefits from a carbon footprint reduction of up to 70%. September 2021 - Nelipak Laboratory Services performed Package Integrity Testing to ensure the sterility and integrity of products. Package Integrity is a major concern for all manufacturers, particularly ones in the medical device industry where the sterility and integrity of products can have a major impact on patients’ health. This is expected to provide further growth opportunities to the company in the market. Additional Benefits: The market estimate (ME) sheet in Excel format 3 months of analyst support Read the full report: https://www.reportlinker.com/p06195704/?utm_source=GNW About Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place. __________________________
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