The Insight Partners published latest research study on According to our latest study on “Medical Grade Paper Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product, Application, End User, and Geography,” the report highlights the key factors driving the medical grade paper market and prominent players with their developments in the medical grade paper market.
Medical Grade Paper Market: Competition Landscape and Key Developments
Zellstoff Pöls AG, Amcor plc, VP Group, Anquing Tianrun Paper Packaging Co Ltd, Cheever Specialty Paper and Film, PMS Europe GMBH, BillerudKorsnäs AB, Gascogne Group, Nelipak Corporation, and Arctic Paper SA are among the key companies operating in the medical grade paper market. Companies operating in the medical grade paper market adopt product innovation strategies to meet the evolving customer demands worldwide, which also permits them to maintain their brand name in the global market.
For instance, in November 2020, Artic Paper SA added a new product, Muken, to its profile. It aims to serve students enhance their project activities with different colored papers.
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Also, the companies in the market create partnerships, collaborations, and contracts with hospitals, diagnostic centers, specialty clinics, and clinics to further drive the revenue and medical grade paper market share. For instance, in November 2020, Arctic Paper Kostrzyn S.A., a subsidiary of Arctic Paper S.A., signed a contract with Poland’s National Centre for Research and Development (NCBiR) for co-financing of the project “Development and implementation of technology for production of high-barrier biodegradable packaging paper” as part of the Smart Growth Operational Programme 2014–2020. The main customers for the results of the project will be manufacturers of packaging and the barrier papers could be used for production of Packaging and flyers for the pharmaceutical industry.
Medical grade paper is usually used to pack medical devices as it combines strength and well-balanced porosity and acts as a feasible protective material for medical devices, providing a safe and protective barrier as it is made up of cellulose fibers designed to allow sterilization agent penetration. It is primarily used for packaging and systems, including infusers, catheters, needles, gauges, gloves, and bandages. It is also widely adopted for pharmaceutical packaging due to its ability to possess a high level of peelability, heat sealability, bacterial resistance, air permeability, environment friendliness, and nontoxicity. Medical professionals utilize various types of medical-grade papers in surgery and examination, including tissues and wipes.
Medical device manufacturers invest huge amounts in the research and development of technologically advanced medical devices as there is a greater demand for various devices that have received approvals. Since these devices must be manufactured in compliance with various safety standards and regulations, vendors tend to spend on more specialized packaging materials and solutions. Thus, the demand for protective packaging products and materials that can shield medical equipment from contamination and mechanical harm during their handling, transportation, and storage is anticipated to increase. According to statistics, packaging failure accounts for 10% of medical device recalls, while package holes account for 31% of these failures. Highly protective packaging guarantees the integrity of medical equipment from the point of manufacture to the final destination or point of use. The ongoing development of flexible primary packaging products that serve as both a sterile barrier system (SBS) and a protective covering to prevent the entry of microbes would further contribute to the medical grade paper market growth in the coming years. For medical instruments that are separately packaged, folding cartons offer good secondary protection. To ensure increased safety, manufacturers are investing in creating more innovative packaging solutions by using materials such as paper and paperboard, glass, and polymers. Thus, the rising demand for protective packaging is driving the medical grade paper market.
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North America holds the largest market share; however, Asia Pacific is the fastest-growing region. The medical grade papers market in North America is expected to grow due to the increasing aging population, growing pharmaceutical industry in the region, and increasing collaborations between government and manufacturers.
Medical Grade Paper Market: Segmental Overview
In terms of product, the medical-grade paper market is segmented into kraft paper and sack paper. In 2022, the kraft paper segment would account for a higher share, and it is expected to dominate the market in the near future. The segment’s growth is majorly driven by the property of kraft paper that resists microbial contamination. Its ability to withstand the rigorous processing requirements of packaging converters and sterilization is likely to influence the segment’s growth.
Based on application, the global medical grade paper market is segmented into steam sterilization, ethylene oxide sterilization, formaldehyde sterilization, and irradiation sterilization. In 2022, the ethylene oxide sterilization segment would hold the largest share of the market by application. It is further expected to record the fastest CAGR of 4.3% during 2022 to 2028.
Based on end user, the global medical grade paper market is segmented into hospitals, diagnostic and research centers, pharmaceutical industry, and others. In 2022, the pharmaceutical industry segment would hold the largest share of the market by application. Moreover, the same segment is expected to grow at the fastest CAGR of 4.5% from 2022 to 2028.
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Medical Grade Paper Market: Segmentation
On a global scale, medical grade paper market is segmented on the basis of types of paper, types of product and types of sterilization processes.
Medical grade paper market is segmented on the basis of types of paper as
- Coated
- Uncoated
Medical grade paper market is segmented on the basis of types of product as
- Kraft
- Sack
Medical grade paper market is segmented on the basis of types of sterilization processes as
- Steam sterilization
- Ethylene Oxide sterilization
- Formaldehyde sterilization
- Irradiation sterilization
Related Links –
https://www.hometalk.com/posts/post-44534390
https://www.launchora.com/story/sterilized-packaging-market-size-industry-trends
https://teletype.in/@nk99fmi/oqe6FwSXC6H
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