The United States stands out as a significant hub for the sterile packaging market within North America, poised to capture a substantial 18.8% market share by 2033. With the country hosting the world’s leading medical device sector, as reported by the International Trade Administration, United States Department of Commerce, the industry is set to reach an impressive US$ 208 billion in 2023. The reputation of American medical device companies for innovative and high-tech solutions is driving the demand for sterile packaging, reflecting the substantial growth potential in this sector.
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.
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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.
The 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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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)
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.
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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