Sterile Packaging Market Sales to Exceed US$ 92.1 Bn as Demand for Antiviral Packaging Products Surges: Future Market Insights
The sterile medical packaging market is expected to register a CAGR of 9.2% during the forecast period (2022 - 2032). The COVID-19 pandemic has opened up opportunities for innovation, with hospital sterilization centers under pressure to ensure the safety of both patients and frontline healthcare workers. This market is propelled by the growth in demand for primary and secondary packaging solutions for various types of sterile drugs and products.
NEWARK, Del. , May 4, 2022 /PRNewswire/ -- Future Market Insights predicts ampoules and vials are the most preferred products among sterile packaging industry manufacturers. The sterile Packaging Market is expected to reach US$ 38.1 Bn in 2022, likely to surge at a vigorous 9.2% CAGR during the assessment period.
One of the key factors propelling the growth in the sterile packaging market is the growing demand for multi-compartment packaging products such as thermoformed trays, and blister packs.
Besides convenience and ease of handling, ampoules, vials, pre-filled syringes and cartridges also ensure safety as well as drug overfill reduction. Consequently, pharma manufacturers are likely to prefer these drug administration forms.
Moreover, the emerging trend of pharmaceutical manufacturers to opt for plastics over glass for parenteral packaging is proving to be an economical and value-based approach for manufacturers. Plastic finds a wide range of applications in sterile packaging. Pouches, thermoformed trays, clamshells and other packaging products are manufactured with plastic.
The adaptability of plastic as the most preferred material for moulding into various shapes and high barrier products makes it suitable for a wide range of sterile packaging products. Regionally, North America is expected to dominate the global market on the back of the expansion of the U.S. pharmaceutical industry.
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Key Takeaways from Sterile Packaging Market
- As per the product type segment, vials & ampoules are expected to hold around 21% of the market share by the end of 2032.
- Plastic is considered the most used material type by sterile packaging manufacturers over the forecast period.
- Based on end use, sales of sterile packaging used for surgical & medical end-use is estimated to grow at 8.9% CAGR between 2022 and 2032.
- Europe and North America, collectively, are anticipated to account for approximately 50% of the total sales of sterile packaging in 2022.
- India is anticipated to emerge as the fastest growing sterile packaging market over the forecast period of 2022 and 2032
"Burgeoning demand for hygienic and antimicrobial packaging across pharmaceutical industry will propel the global sales of sterile & anti-viral packaging solutions," says an FMI analyst.
Leading Market manufacturers in the Sterile Packaging Market are:
- Becton, Dickinson and Company
- Berry Global Inc.
- Amcor Plc
- BillerudKorsnas AB
- Placon Corporation Inc
- Wipak Group
- ProAmpac LLC
- SteriPack Group
- Nelipak Corporation
- Puracon GmbH
- Oliver Healthcare Packaging, LLC
- And Others
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Prevalence of Chronic Diseases and Improved Healthcare Infrastructure to Boost Sterile Packaging Market
The sterile packaging industry is anticipated to grow due to prevalence of chronic illnesses and advancement of healthcare facilities across the glove. This is likely to propel the demand for all types of medicinal products such as trays, clamshells, bags, pouches and many more.
The sterile packaging market is projected to gain traction backed by the adoption of technologically advanced manufacturing practices. Sterile packaging increases the shelf life of products, this results in a longer lifespan of a product. Thus, the rise in the number of people having a chronic illness and improved healthcare facilities fuels the sales of sterile packaging.
Sterile Packaging Market Landscape
Becton, Dickinson and Company, Berry Global Inc., Amcor Plc, BillerudKorsnas AB, Placon Corporation Inc, Wipak Group, ProAmpac LLC, Sonoco Products Company, and West Pharmaceutical Services, Inc. are some of the top players operating in the sterile packaging. Furthermore, SteriPack Group, Nelipak Corporation, Puracon GmbH, Oliver Healthcare Packaging, LLC, Westfield Medical Ltd, GS Medical Packaging Inc. are also noticeable players in the market. Tier-1 players will hold 15-20% of the overall sterile packaging market.
Sterile Packaging Market Report
Future Market Insights, in its new report, offers an unbiased analysis of the sterile packaging market, analysing historical demand from 2015 to 2021 and forecast statistics for 2022 to 2032.
The study reveals growth projections on the sterile packaging market based on product type (thermoform trays, bottles/containers, vials & ampoules, caps & closures, pre-filled syringes, blisters & clamshells, IV bags & pouches, wraps, others), material type (plastics sterile packaging, glass sterile packaging, metal sterile packaging, paper & paperboard sterile packaging), end-use (pharmaceutical & biological, surgical & medical instruments, food & beverage, other end-use) across seven regions.
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Sterile Packaging Market by Category
By Product Type:
- Thermoform Trays
- Bottles/Containers
- Vials & ampoules
- Caps & Closures
- Pre-filled syringes
- Blister & clamshells
- IV Bags & pouches
- Wraps
- Others (Lids, etc.)
By Material Type:
- Plastic Sterile Packaging
- Glass Sterile Packaging
- Metal Sterile Packaging
- Paper & paperboard Sterile Packaging
By End Use:
- Pharmaceutical & Biological
- Surgical & Medical Instruments
- Food & Beverage
- Other End-Use
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East & Africa (MEA)
Explore wide-ranging Coverage of FMI's Packaging Market Insights Landscape
Carton Liners Market – The carton liners market is likely to register a CAGR of 5.2% during the forecast period and is anticipated to reach a carton liners market share of US$ 52.05 Billion in 2032, from US$ 31.35 Billion in 2022.
Safety Box for Syringe Market – As per the study, the global market is expected to reach US$ 9.1 Billion in 2032 and exhibit growth at a considerable CAGR of 7.5% in future years.
Vapor Barrier Films Market – The global market is expected to be valued at US$ 22.8 Billion in 2022 and exhibit growth at a CAGR of 6.4% in the forecast period (2022-2032).
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Future Market Insights (ESOMAR certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments based on Source, Application, Sales Channel and End-Use over the next 10-years.
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Report: https://www.futuremarketinsights.com/reports/sterile-packaging-market
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