The global sterile and antiviral packaging market, which generated USD 24.6 billion in revenue in 2023, is expected to grow by 4.6% year-on-year in 2024, reaching an estimated value of USD 25.7 billion. Over the forecast period from 2024 to 2034, the market is projected to expand at a compound annual growth rate (CAGR) of 3.8%, ultimately reaching a value of USD 37.5 billion by 2034.
Sterile and Antiviral Packaging Market: A Brief Overview
sterile and antiviral packaging market, a segment of the packaging industry, plays a pivotal role in safeguarding the quality and integrity of products that are vulnerable to contamination, especially in healthcare and pharmaceutical sectors. This market encompasses a wide array of packaging solutions designed to prevent the intrusion of microbes, pathogens, and environmental contaminants.
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Key Takeaways:
- The Global Sterile and Antiviral Packaging Market is projected to reach US$ 37.9 billion by 2030, with a CAGR of 5.3% from 2022 to 2030.
- High demand for life-saving drugs and vaccines drives the astonishing growth of sterile and antiviral packaging sales.
- Vials & ampoules, along with blister & clamshell packaging types, are the most widely used in the market, accounting for over one-third of the market share in 2022.
- Plastics and metals combined make up around four-fifths of the total sterile and antiviral packaging sold globally in 2022.
- The European region holds the largest market share in the sterile and antiviral packaging market, with an estimated 27% market share in 2022.
- Industry factors such as plastic waste generation and rising healthcare costs may hinder market growth.
- Advancements in the market include the use of Blow-Fill-Seal (BFS) technology and expansions of healthcare packaging capabilities.
- FMI’s analysis shows a surge of 60 BPS in the market in H1-2022 compared to H1-2021, with a rise of 40 BPS in the projected H1-2022 outlook period.
- Sterile and antiviral packaging preserves and protects products from contamination, harmful bacteria, and air reactions, improving shelf life and providing better protection against pathogenic infections.
Trends Shaping the Market
The Sterile and Antiviral Packaging Market is driven by several trends that highlight its importance and growth potential:
- Innovative Materials: Market players are exploring novel materials with intrinsic antiviral properties, ensuring long-lasting protection.
- Smart Packaging: Integration of technology, such as QR codes for tracking and tamper-evident seals, enhances transparency and security.
- Sustainability: The market is aligning with eco-friendly practices, focusing on recyclable and biodegradable packaging solutions.
- Customization: Manufacturers are tailoring packaging solutions to meet specific product requirements, ensuring optimal safety.
“Key manufacturers of self-fusing silicone tapes are focusing on product innovation and technological integration which can allow scale of production resulting in quality product for a lower cost. This is likely to attract customers as it balances the cost and value. Organizations are also partnering and collaborating with other players in the market to tap potential markets by penetrating deeper into the filament tapes market. This enhances brand value and increase market share in the self-fusing silicone tapes market.” says an FMI analyst.
Competitive Landscape
The key market players across sterile and antiviral packaging market are coming up with launch of innovative packaging solutions made up of sustainable materials and focusing on expanding their global footprint:-
In November 2021, Becton, Dickinson and Company opened a new manufacturing facility in Zaragoza, Spain for supporting growth of pre-filled syringes in the region.
In October 2021, Becton, Dickinson and Company collaborated with U.S. Government to Covid-19 combination diagnostic tests and received initial funding of US$ 24.7 Million for the same.
Key Players:
- Becton, Dickinson and Company
- E.IE. I. Dupont De Nemours and Company
- Amcor Plc
- BillerudKorsnas AB
- Placon Corporation Inc
- Wipak Group
- ProAmpac LLC
- SteriPack Contract Manufacturing
The Role of Sterile and Antiviral Packaging in Various Industries
Healthcare and Pharmaceuticals
The healthcare and pharmaceutical industries rely heavily on sterile packaging to maintain the efficacy of drugs, medical devices, and equipment. With stringent regulations in place, the Sterile and Antiviral Packaging Market plays a crucial role in preventing contamination and ensuring patient safety.
Food and Beverage
In the food and beverage sector, maintaining product freshness and safety is paramount. Sterile and antiviral packaging solutions prevent bacterial growth, prolong shelf life, and eliminate the need for excessive preservatives.
Electronics
Electronics are susceptible to damage from contaminants and moisture. Antiviral packaging prevents the spread of harmful viruses and protects sensitive components, ensuring the reliability and longevity of electronic devices.
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Self-Fusing Silicone Tapes Market By Category
By Thickness :
- Up to 0.25mm
- 0.26mm to 0.50mm
- 0.51mm to 0.75mm
- Above 0.75mm
By Product Type :
- Rectangular Tapes
- Triangular Tapes
- Sinusoidal Rectangular Tapes
By End Use :
- Electrical & Electronics
- Plumbing
- Automotive
- Industrial
- Aerospace
- Home & Garden
- Others
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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