Market Trends of Sterile Medical Packaging Industry
Pharmaceutical Sector to Hold Major Market Share
- The global pharmaceutical industry has experienced significant growth in the past years, mainly due to technological advancements and innovations in the market. According to the National Library of Medicine, the FDA approved 55 new drugs in 2023, which drives the market’s growth.
- According to data from the World Health Organization, the number of people aged 60 years and older in 2019 was 1 billion, which is likely to increase to 1.4 billion by 2030 and 2.1 billion by 2050, rspectively. The demand for sterile packaging in the pharmaceutical industry is attributable to the rising aging population with high medical product use. Growth in diseases, including cancer, diabetes, and bowel diseases, requires long-term use of medicines and drugs, thus boosting the market’s growth.
- The pharmaceutical sterile packaging for drugs and medicines ensures the products are contamination, dust-free, and secure during the supply chain, propelling the market growth. Packaging such as thermoform trays, blister packs, and pouches help prevent the spread of harmful germs used by patients.
- Major players strive to provide the highest level of protection through sterile packaging. Companies such as DuPont de Nemours Inc. provide pharmaceutical sterile packaging with high strength and microbial barriers to help preserve sterility during shipping and storage.
- Furthermore, according to the IQVIA report published on January 2023, global spending on medicine and pharmaceuticals is constantly growing, with approximately USD 1.482 trillion in 2022; encouragingly, the pharmaceutical and medical expenditure is expected to increase to around 1.917 trillion by 2027.
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Asia Pacific to Register Major Growth
- The sterile packaging market in Aisa pacific, is estimated to rise due to the growing emphasis on the healthcare and medical industry. The rising demand for the medical industry has resulted in a boom in the packaging of medical devices and surgical instruments.
- The development in the sterile packaging industry in the region is attributable to the rising advancements in sterilization technologies and intelligent design packaging solutions that boost the market’s growth.
- As the healthcare industry continues to grow globally, driven by an aging population, increasing prevalence of chronic diseases, and advancements in medical technology, the demand for sterile medical device packaging is expected to rise correspondingly. This growth is further driven by the heightened emphasis on infection control and patient safety, prompting medical device manufacturers to prioritize the use of sterile packaging to ensure the integrity and sterility of their products.
- Increasing emphasis on patient safety and rising demand for single-use medical products has resulted in a growing demand for high-quality sterile packaging solutions. Technological innovation in sterile packaging solutions with enhanced durability and barrier properties is also trending across the region.
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