(I-BusinessNews.Com, June 30, 2021 ) Environmental friendly packaging is an emerging trend in the sterile medical packaging market. Concerned about growing waste, and plastic pollution of the oceans, medical products manufacturing companies are adopting future sustainable business practices and showing interest towards utilization of packaging materials that are renewable and recyclable. Several pharmaceutical companies are switching to environmental friendly sterile packaging to meet their sustainability goals. For instance, in January 2021, AstraZeneca has launched a sustainability plan worth $1 billion that has several sustainable packaging initiatives underway to reduce the carbon footprint by 2030. In September 2020, Johnson & Johnson consumer health division invested $800 million through 2030 towards adoption of future sustainable packaging solutions.
The sterile medical packaging market consists of sales of non-reusable sterile medical packaging utilized for the protection of medical products used in the healthcare industry against microbial contamination. This packaging is intended to protect the sterility from the point of packaging, until the time of use. Only goods and services traded between entities or sold to end consumers are included.
Sterile Medical Packaging Market Report Segments:
1) By Material: Plastics, Glass, Metal, Paper & Paperboard, Others
2) By Type: Thermoform Trays, Sterile Bottles & Containers, Sterile Closures, Pre-Fillable Inhalers, Pre-Fillable Syringes, Vials & Ampoules, Blister & Clamshells, Bags & Pouches, Wraps, Others
3) By Application: Pharmaceutical & Biological, Surgical & Medical Instruments, In-Vitro Diagnostic Products, Medical Implants, Others
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Sterile Medical Packaging Market Size Forecast:
The global sterile medical packaging market is expected to grow from $34.26 billion in 2020 to $38.61 billion in 2021 at a compound annual growth rate (CAGR) of 12.72%. The growth is mainly due to the outbreak of COVID-19 that increased demand for the companies that cater medical equipment to treat the affected patients. The market is expected to reach $54.44 billion in 2025 at a CAGR of 8.97%.
Major Players in the Sterile Medical Packaging Market:
DuPont De Nemours and Company
West Pharmaceutical Services, Inc.
Oliver Healthcare Packaging LLC
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Sterile Medical Packaging Global Market Report 2021: COVID-19 Growth And Change is one of a series of new reports from The Business Research Company that provide market overviews, analyze and forecast market size and growth for the whole market, sterile medical packaging market segments and geographies, sterile medical packaging market trends, drivers, restraints, leading competitorsÃ‚Â’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitorsÃ‚Â’ approaches.
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