The global sterile packaging market is expected to rise at a CAGR of 5.8% in the evaluation period from 2023 to 2033. It is likely to surpass a valuation of US$ 29.5 billion by 2033 from US$ 16.8 billion crossed in 2023.
Ampoules and vials are choices opted by sterile packaging manufacturers. It is noticed that multi-compartment packaging products such as thermoformed trays and blister packs have positive potential in the sterile packaging industry.
Apart from convenience and ease of handling, ampoules, vials, pre-filled syringes, and cartridges also ensure safety & drugs overfill reduction. Consequently, pharma manufacturers might prefer these drug administration forms.
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Emerging trend of pharmaceutical manufacturers to opt for plastics over glass for parenteral packaging is proving to be an economical and value-based approach for manufacturers. Plastic finds a wide range of applications in sterile packaging.
Pouches, thermoformed trays, clamshells, and other packaging products are manufactured with plastic. Adaptability of plastic as the most preferred material for molding into various shapes and high barrier products might make it suitable for a wide range of sterile packaging products.
Anticipated transformation in the United States pharmaceutical sector across all segments is likely to re-shape the entire North America pharmaceutical and associated sectors. Shrinking profit margins among large and small pharmaceutical producers would force them to explore new avenues.
The pharmaceutical sector is highly fragmented owing to the presence of numerous small-scale companies in Asia Pacific, especially in India and China. This is hence expected to create remunerative growth opportunities in the region.
Key Takeaways from Sterile Packaging Market Study:
- The global sterile packaging industry witnessed a sizable growth of 6% CAGR over the historical period from 2015 to 2022.
- The United States is estimated to account for 8% of the sterile packaging industry share by the end of 2033.
- Total sterile packaging sales in India are expected to witness growth at 2% CAGR between 2023 and 2033.
- By product, the vials & ampoules segment is projected to register a CAGR of 4% in the assessment period.
- The surgical & medical instruments segment by end use is projected to create a total incremental opportunity of US$ 6.7 billion through 2033.
“In order to ensure that goods reach consumers in the best condition possible during transit, sterile packaging offers a dependable option. Secure packaging is increasingly important as businesses expand their global operations. Demand for sterile packaging supplies is probably going to increase in the forecast period with high awareness of hygiene.” – Says a lead analyst at Future Market Insights (FMI).
Competitive Landscape
Manufacturers of sterile packaging are implementing a number of measures to meet the rising demand for their goods and maintain their position as market leaders. They are improving their supply chains to suit the growing need for sterile packaging.
To efficiently deliver goods to customers, it entails optimizing production procedures, guaranteeing a stable supply of raw materials, and improving distribution networks. Manufacturers can fulfill deadlines and react quickly to client requests when their supply chains are optimized.
Leading producers of sterile packaging are expanding their product lines and looking into new market opportunities to serve a variety of sectors. To access untapped markets and niches, they are expanding into them. Diversification might create growth opportunities while reducing hazards brought on by reliance on specific sectors.
For instance,
- Berry Global Inc. announced the opening of a brand-new cutting-edge healthcare center in India in April 2023.
- Becton, Dickinson and Company introduced a new pre-fillable vaccine syringe with improved technology in September 2022.
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Prevalence of Chronic Diseases and Improved Healthcare Infrastructure to Boost Sterile Packaging Market
The sterile packaging industry is anticipated to grow due to prevalence of chronic illnesses and advancement of healthcare facilities across the glove. This is likely to propel the demand for all types of medicinal products such as trays, clamshells, bags, pouches and many more.
The sterile packaging market is projected to gain traction backed by the adoption of technologically advanced manufacturing practices. Sterile packaging increases the shelf life of products, this results in a longer lifespan of a product. Thus, the rise in the number of people having a chronic illness and improved healthcare facilities fuels the sales of sterile packaging.
Sterile Packaging Market by Category
By Product Type:
- Thermoform Trays
- Bottles/Containers
- Vials & ampoules
- Caps & Closures
- Pre-filled syringes
- Blister & clamshells
- IV Bags & pouches
- Wraps
- Others (Lids, etc.)
By Material Type:
- Plastic Sterile Packaging
- Glass Sterile Packaging
- Metal Sterile Packaging
- Paper & paperboard Sterile Packaging
By End Use:
- Pharmaceutical & Biological
- Surgical & Medical Instruments
- Food & Beverage
- Other End Use
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By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East & Africa (MEA)
About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.
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