The report on global sterile medical packaging market provides qualitative and quantitative analysis for the period of 2015 to 2023. According to the report the global sterile medical packaging market is projected to reach USD 37.3 billion by 2023, growing with a CAGR between 4.6% to 5.1% from 2017 to 2023. The global sterile medical packaging market was worth USD 26.2 billion in 2015.
The report identified that the global sterile medical packaging market is driven by factors such as, increasing aging population, growing demand from the healthcare sector and the popularity of using reliable packaging is driving the demand for sterile medical packaging. On the other hand, the restraining factors identified in the study include stringent regulations in developed countries and the rise in healthcare costs.
Rising awareness among patients regarding a healthy lifestyle, demand for biologics, pharmaceutical products and the growing demand for innovative product packaging are likely to stimulate market growth and provide opportunity for major players in the emerging and developing economies. Adhering to stringent regulations by the governments and controlling costs for customers are some of the challenges for the major players to expand further during the forecast period.
The sterile medical packaging market is segmented on the basis of material, and type. The medical packaging market by type covers thermoform trays, sterile bottles & containers, vials & ampoules, pre-fill able inhalers, sterile closures, and pre-filled syringes. The materials of sterile medical packaging included in the report are plastic, glass and others.
Geographic Coverage and Analysis:
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section the key trends and market size for each geography is provided over the period of 2017 – 2023.
Figure: Global Sterile Medical Packaging Market by Region
Europe is the key consumer of sterile medical packaging in the global market. As of 2015, this region accounted for about 38.7% share in the global market. North America emerged as the second largest shareholder of the global market followed by Asia-Pacific. The increasing investment in the healthcare and manufacturing sectors is one of the key factors expected to encourage the growth of the sterile medical packaging market in North America in the forecast period. Furthermore North America is expected to grow at the highest CAGR of 5.7% over the forecast period.
The companies covered in the report include Amcor Limited, Placon, Dupont, Steripack, Wipak Group, 3M medical Packaging, Nelipak healthcare Packaging, Oracle packaging, Sonoco Plastics Europe, and Billerkornas AB.
The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the demand of sterile medical packaging globally as well as regionally. Moreover, IGR-Growth Matrix analysis given in the report brings an insight on the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter’s five forces analysis and DRO analysis of sterile medical packaging.
Moreover, the study highlights current market trends and provides forecast from 2017 to 2023. We also have highlighted future trends in the global sterile medical packaging market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. Additionally, the analysis highlights rise and fall in the market shares of the key players in the market. This report will help manufacturers, suppliers and distributors of the global sterile medical packaging market to understand the present and future trends in this market and formulate their strategies accordingly.
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