STERILE MEDICAL PACKAGING MARKET ANALYSIS

The global sterile medical packaging market size was valued at US$ 52.26 Bn in 2022 and is anticipated to witness a compound annual growth rate (CAGR) of 9.7% from 2023 to 2030. The increasing occurrence of infectious diseases globally is driving the demand for sterile medical packaging. The products ensure that patients do not come into contact with contaminated devices. The packaging helps prevent infectious diseases from spreading and causing serious health complications. Infectious diseases are often transmitted from human to human or from animal to human. The growth of sterile medical packaging is anticipated to continue in the coming years. Several market players are focusing on safer methods of sterilization. Before packaging, the products undergo a sterilization process. This involves installing technical HEPA filters and heating, ventilation and air conditioning (HVAC) systems to ensure that the product is sterile.

COVID-19 Impact

The COVID-19 pandemic has had a significant impact on the global sterile medical packaging market. The market for sterile medical packaging includes products such as bags, pouches, trays, and containers that are used to package medical devices, pharmaceuticals, and other healthcare products in a sterile environment. One of the major impacts of the pandemic on the sterile medical packaging market has been the increased demand for medical supplies and equipment. The pandemic has led to a surge in demand for medical products such as personal protective equipment (PPE), testing kits, and vaccines, which has in turn driven up demand for sterile medical packaging. Another impact of the pandemic has been disruptions in global supply chains. The lockdowns and travel restrictions imposed by many countries have led to delays in the transportation of goods, including sterile medical packaging. This has resulted in shortages of some types of packaging materials and increased prices for others.

Global Sterile Medical Packaging Market Drivers:

Strict regulation regarding the control of infection: Strict regulation regarding the control of infection is primarily fueling growth of the sterile medical packaging market. For instance, the International Health Regulations (IHR) positioned infection prevention and control (IPC) as an important strategy for dealing with international public health threats. More recently, the United Nations Sustainable Development Goals (SDG) highlighted the importance of IPC as a contributor to safe, effective, and high-quality health service delivery, in particular those related to water, sanitation, and hygiene (WASH) and quality and universal health coverage.

Growing utilization of pharmaceutical sector capacity: The growing utilization of pharmaceutical sector capacity is again propelling growth of the market. For instance, according to the Times of India Report, in 2020, units in the pharmaceutical industry were operating at 50-60% capacity at the end of the third phase of the lockdown in India. The GSK global biopharma company with a purpose to unite science, technology Company stated that its Nashik factory was operating at 100% capacity, with its contract manufacturing factories operating at 60-65% capacity in May 2020, up from 30-35% a few weeks ago.

Global Sterile Medical Packaging Market Opportunities:

• Glass vials, ampoules, and containers are in high demand.: Growing demand for glass vials, ampoules, and containers is encouraging key manufacturers to expand production of such packaging material. This is expected to offer expansion opportunities for key players in the market. For instance, in August 2020, Arglass Yamamura LLC is an American firm born to disrupt the traditional glass industry by encouraging innovation in every corner of our business. from Japan announced that the company is building a manufacturing plant in South Georgia worth an estimated US$123 million. Moreover, the outbreak of the COVID-19 pandemic had opened up opportunities for new innovation.
• The growing concern about the environment is generating demand for biodegradable packaging solutions.: Rising environmental concern is driving demand for biodegradable packaging solutions for medical devices. In response to this, the HyperBioCoat project, which was supported by the European Union, created new biodegradable hybrid organic-inorganic coatings for food, cosmetics, and medical device packaging. By incorporating biopolymers into the material class of bioORMOCERs, a coating material based on biopolymers was derived from lignocellulosic biomass. The Fraunhofer Institute for Silicate Research produced the bioORMOCER coatings, which are bio-based and biodegradable. The development of such biodegradable packaging solutions will provide profitable market opportunities in the near future.

Global Sterile Medical Packaging Market Trends:

• New technologies in market: Recent technologies such as blow-fill-seal technology is gaining traction in the market as it offers a unique combination of flexibility in packaging design, a high degree of sterility assurance, and a low operating cost. This technology has also gained attention on account of the increasing demand for proteins, biologics, and other complex solutions.

• Several significant players have formed partnerships and agreements.: Various key players are adopting partnerships and agreements in order to increase the capacity for sterile manufacturing and packaging of the COVID-19 vaccine. This factor is acting as a trend in the market. For instance, in March 2021, Catalent expanded its partnership with Johnson & Johnson to significantly increase capacity for sterile manufacturing and packaging of the COVID-19 vaccine in Italy. Companies of Johnson & Johnson, whereby Catalent Biologics will significantly increase the manufacturing capacity for large-scale commercial supply of Janssen’s COVID-19 vaccine at Catalent’s manufacturing facility in Anagni, Italy, including vial-filling, inspection, labeling, and packaging service

Global Sterile Medical Packaging Market Restraints:

Challenges associated with maintaining medical packaging integrity

Challenges associated with maintaining medical packaging integrity are a prime factor restricting market growth to some extent.

Environmental concern regarding the use of plastic for packaging of medical

Growing environmental concern regarding the use of plastic for packaging medical products is another key factor projected to hamper market growth. Polyvinyl Chloride (PVC) has been widely used in the medical field for more than 50 years. Moreover, plastics are also subjected to strict testing to ensure their safety and compatibility with the intended usage.

Global Sterile Medical Packaging Market Segmentation:

Figure 1. Global Sterile Medical Packaging Market by Material Type in 2022

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The global sterile medical packaging market report is segmented into material type, product type, application type, and region

Based on material type, the market is segmented into plastics-PP, paper and paperboard, glass, and other types. Out of which, plastics is expected to dominate the global market over the forecast period, and this is attributed to the growing use of plastic in manufacturing IV tubing and blood bags. PVC is the most common plastic used in the medical industry for packaging of device and drugs.

The glass segment is also expected to witness significant growth in the near future, as it is the most common packaging material used in the packaging of drugs and other pharmaceutical formulations. Moreover, glass does not leak, which can prevent contamination of pharmaceutical items.

Figure 2. Global Sterile Medical Packaging Market by Region in 2022

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Regionally, North America is projected to dominate the global sterile medical packaging market over the forecast period owing to its increasing aging population, growing healthcare spending capacity, availability of advanced medical delivery systems, and aggregate gross domestic product (GDP) levels. Moreover, increasing investment by key players in sterile medical packaging is again projected to fuel regional market growth. For instance, in May 2020, Packaging Compliance Labs LLC announced it would invest US$2.57 million to expand its headquarters in the greater Grand Rapids area. The sterile packaging for medical devices, engineering, and testing firms were awarded a US$135,000 jobs-ready Michigan grant from the Michigan Strategic Fund for the project. With the expansion of the packaging company, this significantly contributes to the regional market’s growth.

At the same time, Asia Pacific is projected to witness the fastest growth in the global market over the forecast period owing to the expanding pharmaceutical industry in countries such as India and China. The market is predicted to rise three times in the next decade, according to the Indian Economic Survey 2021. In 2021, India's domestic pharmaceutical market is expected to be worth US$42 billion, rising to US$65 billion by 2024 and US$120- 130 billion by 2030.

Global Sterile Medical Packaging Market: Key Developments

• In February 2020, Amcor announced a partnership with the Healthcare Plastics Recycling Council (HPRC), a coalition of industry peers across healthcare, recycling, and waste management, seeking to enhance recyclability of plastic products within healthcare. Amcor will support the coalition with extensive expertise in packaging design for medical devices and applications in hospitals and other treatment settings. The industry group’s focus is to address all dimensions of the packaging value chain, from packaging design to collection systems and end markets.
• In April 2021, Amcor PLC announced the launch of the new AmSky blister system, which eliminates PVC by using a polyethylene (PE) thermoform blister and lidding film and delivers child-resistant and senior-friendly (CRSF) recyclable solutions for pharmaceutical packaging.
• In August 2021, Amcor announced plans to build two new state-of-the-art innovation centers. The new facilities in Ghent, Belgium, and Jiangyin, China, are expected to be operational by mid-2022, with full build-out over the next two years. The total investment is expected to be approximately US$35 million.
• In December 2021, Billerud Korsnäs announced a merger agreement with Verso Corporation. The company agreed to acquire Verso, a prominent producer of coated papers in North America, for a purchase price of USD 825 million in cash.

Global Sterile Medical Packaging Market: Key Companies Insights

The global sterile medical packaging market is highly competitive. This is attributed to the continuous launch of new technologies due to ongoing Research & Development and efforts by value chain participants. Moreover, key players are adopting various business growth strategies in order to expand their presence on a regional and global basis. Some of the key players in the global sterile medical packaging market are Amcor PLC, Dupont De Nemours Inc., Steripack Ltd, Wipak Group, Placon Corporation, Riverside Medical Packaging Company Ltd, Tekni-Plex Inc., BillerudKorsnäs AB, Sonoco Products Company, DWK Life Sciences GmbH, Technipaq Inc., 3M Co. (3M Packaging), and Nelipak Healthcare

*Definition: Sterile medical packaging is an essential step in the medical industry and is necessary for minimizing the chances of contamination and disease transmission.