Global Sterile Medical Market - Overview
The sterile medical packaging market is very dynamic in nature and is expected to witness high growth over the forecast period. The growth of the sterile medical market is influenced by growing pharmaceutical industry, increase in ageing population, and government initiative for pharmaceutical industry whereas it is hindered by the stringent regulations for packaging of medical products.
The sterile medical packaging market is anticipated to reach USD 57.7 billion during the market forecast period. The market holds a CAGR value of 10%.
Various sterilization packaging types are available in the market such as pouches, wraps, and container systems. These are available in different sizes and specifications for the purpose of sterilizing and packaging medical devices and the other instruments. Proper sterilization packaging needs to be chosen in the healthcare sector by healthcare product manufacturers including pharmaceuticals as well as medical devices.
The rise in the ageing population leads to increasing diseases and more requirement of medicines has spiked the demand for such packaging. People are becoming aware about the diseases occurring due to growing age and are using the products which are healthy for them. People are becoming aware about the diseases occurring due to growing age and are using the products which are healthy for them. Due to this, there will be an increase in the production of sterile packaging materials.
Government of India has taken various initiatives to ensure the approval, safety and marketing of quality drugs. The Central Drug Standards and Control Organization (CDSCO) provides the standards and measures for safety of the drugs, and ensures quality of the drug. It also regulates the market authorization of new drugs and approves the license for the manufacture of the drug. Due to the above regulatory bodies, there is an increase in the reliability of pharmaceutical products, which has resulted in the increased use of sterile medical packaging.
Global Sterile Medical Market - Competitive Analysis
The major market players adopted various strategies to retain and/or expand their market share. Key strategies followed by most companies within the global Sterile Medical market were new product development. T
he major players operating in this market, to have adopted these strategies are E. I. du Pont de Nemours and Company (U.S.), Multisorb Technologies (U.S.), Sanner GmbH (Germany), CSP Technologies, Inc (U.S.), Capitol Scientific, Inc (U.S.), Desiccare, Inc (U.S.), W. R. Grace & Co (U.S.), Desican Inc (U.S.), Clariant Global (Switzerland), Oker-Chemie GmbH (Germany) and others. This strategy is widely adopted to increase the number of offerings to the customer. New innovations in the technology of manufacturing desiccants also lead to new product developments.
In September 2017, DuPont Protection Solutions announced the introduction of DuPont Tyvek 40L, a new class of Tyvek for medical packaging applications that provides a cost-effective option for protecting lightweight, low-risk devices. This economical alternative to high-end medical papers was unveiled today at MEDTEC 2017 in Shanghai, China, where DuPont was also continuing its year-long celebration of the 50th anniversary of Tyvek. Commercial sales of Tyvek 40L will begin now in China and there are plans for global availability in late 2018.
CSP Technologies, Inc., a leading designing and packaging solution provider that ensure product protection, enhance brand recognition and improve consumer experiences is expanding its Auburn, Alabama manufacturing and warehousing capacity by 110,000 square feet. Construction of the new structure located adjacent to the existing headquarters is currently underway. During this same timeframe, the company added clean room manufacturing and high cavitation stack cube molding with in-mold process capabilities to increase manufacturing efficiency to its Neiderbronn-les-Bains plant in France. Both the US and France operations will be ISO 13485:2016 certified for medical device manufacturing and assembly. The clean room installation also provides the necessary infrastructure as CSP prepares to manufacture dry powder inhalers and other medical devices in the near future.
Global Sterile Medical Market - Segments
Global Sterile Medical Market is segmented in to 4 Key dynamics for an easy grasp and enhanced understanding.
Segmentation By Type: Comprises – Thermoform trays, Flexible pouches, Bottles and others
Segmentation By Material: Comprises – Glass, Plastic, Metal, and others
Segmentation By End-use: Comprises – Surgical instruments, Pharmaceuticals, and others
Segmentation By Regions: Comprises Geographical regions - North America, Europe, APAC and Rest of the World
Global Sterile Medical Market -
The growing market of Europe, is expected to witness slow growth throughout the forecast period. The adoption of medical packaging in countries such as Poland, Turkey, and Romania offers significant growth prospects for the sterile medical packaging market in the region.
The South America’s and Middle East markets are expected to register steady growth through the forecast period for sterile medical packaging.
The Asia-Pacific region held the largest share in 2016, and is projected to be the fastest-growing region market in coming time. This is mainly due to emerging economies in China and India, backed by the rising consumer spending power and the growing middle-class population.
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Orchid Chemicals & Pharmaceuticals Ltd., West Pharmaceutical Services, Inc., MULTIVAC Sepp Haggenmüller SE & Co. KG, SteriPack Ltd., Riverside Medical Packaging Company Ltd., Selenium Medical, Wipak Walsrode GmbH & Co. KG, Placon Corporation, DuPont De Nemours and Company, Oracle Packaging, Inc., Janco INC., Bemis Company, Inc., Oliver Tolas Healthcare Packaging, and Amcor Limited are some of the prominent players at the forefront of competition in the global sterile medical market and are profiled in MRFR Analysis.