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PACKAGING

Sterile Medical Packaging Market Analysis by Type (Thermoformed Trays, Clamshell, IV Containers & Bags, Sterile Lid, and Others); by Material (Plastic, Paper, Foil, Non-woven, and Foam Sheets); and by Application {Medical Disposable Supplies (Surgical Preparation Kits, Sutures & Catheters, and Pre Packaged Medical Supplies); and Medical Equipment (Cardiovascular, Neurovascular, Endoscopic, and Others) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • DuPont de Nemours, Inc. along with Technipaq Inc. and Freepoint Eco-Systems has partnered to promote sustainability and reduce and recycle medical packaging plastic waste.
  • Amcor Group GmbH  has launched ACT2100 heat seal coating for medical grade DuPont Tyvek 2 and other paper packaging applications. This effective coating technology is expected to deliver enhanced performance features for healthcare applications.

Global Sterile Medical Packaging Market Highlights Over 2023 - 2033

Base Year

2022

Forecast Year

2023-2033

CAGR

~7%

Base Year Market Size (2022)

~ USD 45 Billion

Forecast Year Market Size (2033)

~ USD 65 Billion

The global sterile medical packaging market is estimated to garner a revenue of ~USD 65 billion by the end of 2033 by growing at a CAGR of ~7% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~USD 45 billion in the year 2022. The primary factor for the market growth is attributed to the rising cases of cardiovascular diseases and deaths owing to it, which leads to an increase demand for sterile medical packaging during the treatment. As per World Health Organization, cardiovascular diseases are considered to be leading cause of deaths globally, taking almost 17.9 million lives in 2019, which is equivalent to 63% of the total deaths occurred.

Sterile-Medical-Packaging-Market-Size

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The sterile medical packaging market is witnessing growing demand from the healthcare industry. The main reason behind this high demand is owing to the large pool of patients in the world. During the treatment of patients, proper sterilization packaging is required for the purpose of sterilizing and packaging medical devices and the other instruments. Thus, the increment in number of deaths due prevalence diseases such as non-communicable diseases is anticipated to increase the adoption rate of sterile medical packaging in hospitals, ambulances and clinics. As per a report published by World Health Organization in 2021, it is stated that non-communicable diseases kill almost 41 million peach each year, equivalent in 71% of global deaths.

Global Sterile Medical Packaging Market: Growth Drivers and Challenges

Growth Drivers

  • Rising Prevalence of Unhealthy Lifestyle Diseases Worldwide – The population has shifted towards inactivity and unhealthy lifestyle. This has resulted in a number of diseases such as diabetes, hypertension, obesity and high blood among the population. This trend is increasing the pressure in healthcare sector, which is further expected to bring lucrative opportunities in the sterile medical packaging market in the assessment period. The prevalence of diabetes was accounted to be almost 10% i.e. 460 million people in the year 2019, and continue to increase steadily in the future and reach 11% i.e. 700 million people by 2030.
  • Increasing Incidence of Heart Diseases Cases – Obesity and overweight is rising in alarming rate among the population. This has led to increase in number of heart disease patients across the world. This has brought the need of deploying of sterile medical packaging across the healthcare sector. Heart attack and strokes accounted the major portion of heart diseases in the recent years. Around 85% of the cardiovascular diseases deaths were responsible due to heart attack and strokes in 2019.
  • Global Rise of Patient Visits – The latest reports revealed that in 2020, around 770 million outpatient visits took place in the hospitals of the United States.
  • Expansion of Healthcare Sector - The revenue generated by the global healthcare sector in 2022, stood up at USD 60 billion.
  • Escalation in Health Expenditure – The World Bank released the health expenditure of the world in the year 2019, which accounted to be 9.83% of the total GDP. This is a rise from 2017, where global health expenditure was 9.77% of total GDP.   

 Challenges

  • Extra Medical Packaging Integrity
  • Rising Number of Stringent Regulations
  • Low Awareness about Sterile Medical Packaging

The sterile medical packaging market is segmented and analyzed for demand and supply by application into medical disposable supplies and medical equipment. Further, the medical equipment is segmented into cardiovascular, neurovascular, endoscopic, and others. Out of these, cardiovascular segment is expected to garner the highest market share by 2033, owing to rising cases of heart diseases. As per Centers for Disease Control and Prevention, one person dies every 34 seconds in the United States from cardiovascular disease. Further, around 697,000 people in the United States died from heart disease in 2020.

Major Macro-Economic Indicators Impacting the Market Growth

Global-Healthcare-Expenditure

According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.

Global Sterile Medical Packaging Market Regional Synopsis

Regionally, the global sterile medical packaging market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in North America is projected to hold the largest market share by the end of 2033. The market in the region is primarily driven by the high expenditure on healthcare. Centers for Medicare & Medicaid Services, stated that the national health expenditure 9.7% to USD 4.1 trillion in 2020, or USD 12,530 per person. This accounted for 19.7% of Gross Domestic Product (GDP). Further, the burden of chronic diseases and the deaths occurred by it is an another factor for the expansion of life care solution services. The recent study of 2022, stated that 6 in 10 adults in the U.S. have a chronic disease and chronic disease is the leading driver of the nation’s 4.1 trillion dollars.

Sterile-Medical-Packaging-Market-Scope

The global sterile medical packaging market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global sterile medical packaging market includes the following segments:

By Type

  • Thermoformed Trays
  • Clamshell
  • IV Containers & Bags
  • Sterile Lid
  • Pouches
  • Die-cut Baker Cards
  • Guided Wire Hoops
  • Sterile Wraps
  • Others

By Material

  • Plastic
  • Paper
  • Foil
  • Non-woven
  • Foam Sheets

By Application

  • Medical Disposable Supplies
  • Surgical Preparation Kits
  • Sutures & Catheters
  • Pre Packaged Medical Supplies
  • Medical Equipment
  • Cardiovascular
  • Neurovascular
  • Endoscopic
  • Orthopedic
  • Ophthalmology
  • Injection System
  • Electrosurgical Accessories
  • Others

Top Featured Companies Dominating the Global Sterile Medical Packaging Market

  • DuPont de Nemours, Inc.

    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Amcor Group GmbH
  • 3M
  • West Pharmaceutical Services, Inc.
  • Sonoco Products Company
  • Placon Corporation
  • Nelipak Corporation
  • Wipak Group
  • Tekni-Plex, Inc.
  • BillerudKorsnäs AB

 

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