The global surgical instruments packaging market is set to undergo substantial growth, with an estimated industry value of USD 24.5 billion in 2023. Over the forecast period from 2023 to 2033, it is projected to achieve an industry value of USD 44.8 billion, reflecting a notable Compound Annual Growth Rate (CAGR) of 6.2%. This follows a solid growth rate of 4.9% in the historical period from 2018 to 2022.
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Several key factors:
1. Aging Population and Chronic Diseases: The increasing aging population and a higher prevalence of chronic diseases are boosting the demand for surgical instruments and their packaging, as healthcare requirements rise with age.
2. Research and Development: Recent breakthroughs in research and development activities in healthcare units are leading to advancements in surgical instruments, driving the need for effective packaging solutions.
3. Sterile Packaging in Pharmaceuticals and Biotechnology: The pharmaceutical and biotechnology sectors are increasingly using sterile packaging, further elevating the demand for reliable and safe packaging solutions.
4. Global Healthcare Demand: The surging demand for healthcare units, both in developed and developing countries, is a significant growth driver.
5. Sustainability Concerns: Growing concerns about sustainability in surgical instrument packaging are pushing the industry to innovate and expand in response to environmental demands.
The market’s growth is also facilitated by the expanding trend of sterile instruments, driven by a growing number of hospitals, therapeutic equipment manufacturers, and diagnostic centers. Surgical packaging solution manufacturers are adapting to changing end-user requirements and innovations in surgical instruments by continuously enhancing packaging designs and materials. Additionally, the increasing demand for non-reactive, tamper-proof, and sterile packaged products is fostering the need for technological advancements in surgical instruments packaging, thereby propelling industry expansion during the forecast period.
Key Players:
- 3M,
- Bemis Company,
- SHOTT AG,
- West Pharmaceutical Services,
- E. I. du Pont Nemours & Company,
- Gerresheimer AG,
- Steripack Contract manufacturing,
- Amcor Limited,
- Barger packaging Inc. and
- North American sterilization & packaging company.
The key players in The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides an in-depth analysis of parent industry trends, macroeconomic indicators and governing factors along with industry attractiveness as per segments. The report also maps the qualitative impact of various market factors on surgical instruments packaging industrysegments and geographies.
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Market Dynamics:
The factors which drives the demand of surgical instrument packaging industry are rise in chronic diseases, ageing population, recent advances in R & D division in health-care units, integrity of pharmaceuticals & medical sector, increasing application of sterile packaging in pharmaceutical and biological sector and increasing demand of healthcare units in developed as well as developing countries.
Other factors such as growing concerns on sustainability in medical packaging, pre-validated packaging with peered analysis of packaged material are also impacting the growth of surgical instruments packaging industry.
On the other hand, sterilization before packaging, cleaning and storing the instruments when not in use, durability, strict regulations of government for the packaging, competition for low and high prices and lack of skilled professionals in remote areas are the restraining factors in surgical instruments packaging industry.
Other factors such as population to healthcare unit ratio, medical negligence in remote areas are also hampering the surgical instruments packaging industry.
Regional Outlook:
Overall the geographical regions, North America dominates the surgical instruments packaging industry and is anticipated to remain dominated over the years due to already flourished industrial development and self-awareness in people.
Asia-Pacific region is expected to emerge as a profitable business in surgical instruments packaging industry due to rapid expansion in the healthcare sector. Followed by Asia-Pacific, Europe is also an emerging industry to grow in surgical instruments packaging market.
As spending capacity in the healthcare sector is improving in developing countries, surgical instruments packaging industry is anticipated to have a potential growth and shows significant increase for a profitable share in the industry. In addition to this, Middle-East & Africa is also likely to experience increased consumer base and appreciable growth of the surgical instruments packaging market.
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Market Segmentation:
Based on material as
- Plastic
- Glass
- Metal
Based on type as
- Thermoform trays
- Bottles
- Vials
- Ampoules
Based on sterilization methods as
- Chemical
- Radiation
Author
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show – Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.
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