Sterile Medical Packaging Market Expected to Reach CAGR of 6.2% by 2024 With COVID -19 Impact


According to a recent report published by Fast.MR, titled “Sterile Medical Packaging Market – By Type (Thermoformed Trays, Clamshell, IV Containers & Bags, Sterile Lid, Pouches, Die-cut Backer Cards, Guided Wire Hoops , Sterile Wrap and Others), By Application (Medical Disposable Supplies and Medical Equipment) – Global Market Analysis, Trends, Opportunity and Forecast, 2018-2024”. It evaluates the key market trends, advantages, and factors that are pushing the overall growth of the market. The report also analyzes the different segments along with major geographies that have more demand for Sterile Medical Packaging Market. The competition analysis is also a major part of the report.

Global sterile medical packaging market is estimated to reach USD 6.2 Billion in 2024, registering a compound annual growth rate (CAGR) of 6.2% between 2019 and 2024. Increasing concerns regarding control of infection from hospitals and clinics is anticipated to positively impact the growth of global sterile medical packaging market.

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Market Insights

Growth Drivers – Sterile Medical Packaging Market

Growing Focus to Control Infection Level

Rising global population and health requirements and increasing prevalence of diseases are creating a favorable environment for the growth of global sterile medical packaging market. Furthermore, manufacturers and government focus to reduce healthcare associated infection and favorable healthcare policies are envisioned to bolster the growth of the market. Addition to this, growing health concerns and awareness is believed to spearhead current and future growth prospects of the market.

Growing Regulatory Compliances

Increasing regulatory compliances for packaging of sterilized medical devices is offering significant growth opportunities for global sterile medical packaging market. Further, manufacturers are focusing on development of advanced and functional sterile packaging as per standards. This factor is envisioned to bolster the growth of global sterile medical packaging market.

Barriers – Sterile Medical Packaging Market

Low Supply of Medical Devices

Low demand for medical devices and lack of healthcare facilities in undeveloped nations are anticipated to negatively impact the growth of global sterile medical packaging market.

Segmentation

By Product Type

-Thermoformed Trays

-Clamshell

-IV Containers & Bags

-Sterile Lid

-Pouches

-Die-cut Backer Cards

-Guided Wire Hoops

-Sterile Wrap

-Others

By Application

-Medical Disposable Supplies

–Surgical Preparation Kits

–Sutures & Catheters

–Pre-Packaged Medical Supplies

-Medical Equipment

–Cardiovascular

–Neurovascular

–Endoscopic

–Orthopaedic

–Ophthalmology

–Injection Systems

–Electrosurgical Accessories

— Others

By Geography

– North America (U.S. & Canada)

– Europe (Germany, United Kingdom, France, Italy, Spain, Russia and Rest of Europe)

– Asia Pacific (China, India, Japan, South Korea, Indonesia, Taiwan, Australia, New Zealand and Rest of Asia Pacific)

– Latin America (Brazil, Mexico, Argentina and Rest of Latin America)

– Middle East & Africa (GCC, North Africa, South Africa and Rest of Middle East & Africa)

Competitive Landscape

The report profiles various major market players such as

-Amcor Limited

-Bemis Company, Inc

-BillerudKorsnas AB

-E.IE. I. Dupont De Nemours and Company

-Placon co.

-ProAmpac LLC

-Wipak Group

-Steripack Contract Manufacturing

-Nelipak Healthcare Packaging

-Deufol Group

-Other Prominent Players

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