Sterile Medical Packaging Market – Company Analysis, SWOT, Marketing Strategy

This report provides forecast and analysis of the Sterile Medical Packaging market on global level. It provides actual data of 2017 along with estimated data of 2018, and forecast data up to 2026 in terms of value (US$ Mn) and volume (Mn Units). It includes drivers and restraints of the global sterile medical packaging market and their impact on each region during the forecast period. The report also comprises the study of current issues with end users and opportunities for sterile medical packaging manufacturers. It also includes value chain analysis.

In order to provide users of this report with comprehensive view of the market, we have included detailed competitiveness analysis and company players with their SWOT analysis and strategy overview. The dashboard provides detailed comparison of global Sterile medical packaging manufacturers on parameters such as operating margin, total revenue, product portfolio, and what we call ‘innovation scale’. The study encompasses market attractiveness analysis by material type, manufacturing process, application, end use industry, and region.

The report includes consumption of sterile medical packaging and the revenue generated from sales of sterile medical packaging across the globe and key countries. By product type, sterile medical packaging market is segmented into thermoformed trays, clamshell, IV containers & bags, sterile lid, pouches, die-cut baker cards, guided wire hoops, sterile wraps and others (including sterilization tapes, dust covers, gusseted packaging).

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By material type, sterile medical packaging market is segmented into plastic, paper, foil, non-woven and foam sheets. By application, sterile medical packaging market is segmented into medical disposable supplies and medical equipment.

Market numbers have been estimated based on extensive secondary and primary research, average pricing of sterile medical packaging by product type and the revenue is derived through regional pricing trends. Market size and forecast for each segment has been provided in the context of global and regional markets. The sterile medical packaging market has been analyzed based on expected demand. Prices considered for the calculation of revenue are average regional prices obtained through primary quotes from numerous regional sterile medical packaging manufacturers, suppliers, and distributors.

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Trends in Global Sterile Medical Packaging Market Predict an Upswing

The sterile medical packaging market has witnessed impressive growth over the last few years owing to the significant increase in the demand for pharmaceutical and biologics products. Sterile medical packaging finds extensive usage in the packaging of medical equipment, medical supplies, and pharmaceutical and biological products due to its high performance and anti-contaminant properties. The global sterile medical packaging market is estimated to expand at a steady CAGR of 4.7% during the forecast period, amounting to US$38.3 bn by 2024.

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The wide availability of new products in the field of biologics and biopharmaceuticals, coupled with specific requirements of patients for better compliance, is driving the market for sterile medical packaging worldwide. Likewise, the mounting demand for sterilization in reference to healthcare and personal care products has driven the need for sterile medical packaging.

Vials and ampoules emerged as the leading product segment due to their wide application in multiple pharmaceutical industries throughout the forecast period. This segment is anticipated to account for 37% of the overall sterile medical packaging market by the end of 2016. However, the segment is anticipated to witness a marginal decrease in market share by the end of the forecast period. The pouches and bags segment, on the other hand, will lead the sterile medical packaging market by 2024.

The plastics segment is estimated to account for the leading value share of 51.6% in the sterile medical packaging market by 2016-end based on type of material. This segment is expected to register healthy Y-o-Y growth during the forecast period, along with the glass segment. The non-woven segment is expected to register a healthy growth rate till 2019; however, it is expected to lose traction in the later phase of the forecast period.

The key players operating in the global sterile medical packaging market include Amcor Limited, Placon, Dupont, Steripack, Wipak Group, 3M medical Packaging, Nelipak Healthcare, Oracle Packaging, Sonoco Plastics Europe, Billerkornas AB, and Ampac Group.

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Sterile Medical Packaging Market – Future Demand, Market Analysis & Outlook

The global market for sterile medical packaging is led by companies such as Amcor Limited, Placon, Dupont, Steripack, Wipak Group, 3M Medical Packaging, Nelipak Healthcare Packaging, Oracle Packaging, Sonoco Plastics Europe, Billerkornas AB, and Ampac Group. Transparency Market Research has observed that a number of leading packaging companies have been adopting the outsourcing model in order to expand their footprint in the sterile medical packaging market and thus generate a high ROI.

“Contracting with local companies helps manufacturers lower the operational cost,” the author of the study states. “Furthermore, packaging companies can benefit from better pricing by outsourcing sterile packaging.” 

 

Some of the key strategies employed by players in the sterile medical packaging market are mergers and acquisitions, strengthening the distribution network, product expansion, and expanding into other geographical segments. 

The opportunity in the global sterile medical packaging market is estimated to be worth US$26.5 bn by the end of 2016 and is projected to reach US$38.3 bn by 2024.

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North America to Continue its Lead in Global Sterile Medical Packaging Market 

The vials and ampoules segment is estimated to account for the leading share in the sterile medical packaging market in terms of value by 2016-end. “However, this product segment is expected to register a marginal decrease in market share by the end of the forecast period, with the pouches and bags segment likely to emerge as the dominant segment by 2024,” the lead analyst predicts. Nevertheless, the vials and ampoules segment will be one of the most attractive markets during the course of the forecast period.

Plastics are expected to be the preferred material choice for vendors in the sterile medical packaging market. By application, the pharmaceuticals and biologics segment is estimated to account for 64% of the market by 2016-end. This is attributed to the growing demand for biologics across various therapeutic applications. Geographically, North America is expected to continue leading the sterile medical packaging market through 2024, accounting for over 36% by 2016-end. Latin America is projected to register a 6.7% CAGR from 2016 to 2024, emerging as one of the most lucrative markets for sterile medical packaging. 

Surging Incidence of Chronic Diseases Driving Demand for Sterile Medical Packaging 

Biologics has gained popularity in the recent past and has become the preferred choice for the treatment of chronic disorders such as diabetes and arthritis. However, the lead analyst at TMR finds that the manufacturing process is rather complex and requires a high degree of stability. “An increased level of expertise is needed to maintain and preserve biologics and this has led to the rising demand for innovative product packaging solutions among biologics manufacturers.”

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The growing incidence of chronic diseases worldwide has emerged as a major concern among the global population. This rise is, in turn, driving the demand for medical drugs and devices, which creates a favorable environment for sterile medical packaging.

Although the transportation of drugs and devices packed in bags and pouches requires extreme care and specific requirements, this restraint has driven manufacturers to develop flexible and sustainable packaging to overcome the shortcomings of sterile medical packaging solutions.

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