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.
As one of the fastest-growing sectors globally, the healthcare industry significantly contributes to a nation’s economic development. Anticipated growth in the healthcare industry, fueled by an increasing prevalence of chronic illnesses and advancements in healthcare infrastructure worldwide, is expected to drive heightened demand for medical products like trays, clamshells, bags, and pouches in the foreseeable future.
According to the U.S. Department of Commerce, the United States boasts the largest biopharmaceuticals market globally, with U.S. firms conducting over half of the Research & Development activities valued at US$ 75 billion. This thriving pharmaceutical sector, directly and indirectly, sustains over 4.7 million jobs nationwide, signaling significant industry expansion. Furthermore, FMI’s analysis underscores the dominant position of the U.S., accounting for more than 86% market share in the North American sterile and antiviral packaging market throughout the forecasted period, indicating a robust demand for diverse pharmaceutical packaging solutions in the region.
Request for a Sample of this Research Report:
https://www.futuremarketinsights.com/reports/sample/rep-gb-11298
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
End Use is Most Profitable among Sterile and Antiviral Packaging Manufacturers
The surge in demand for sterile packaging products, particularly in the domain of surgical and medical instruments, arises from the need to uphold the sterility of products crucial for patient care. This heightened demand is driven by features such as prolonged storage requirements for critical medicinal instruments. The largest end-use of sterile and antiviral packaging globally, the surgical and medical instruments segment, is further propelled by renowned packaging manufacturers introducing innovative antiviral packaging solutions. These advancements serve as an additional layer of protection for various medicinal supplies, contributing significantly to the expansion of the global sterile and antiviral packaging market. The anticipated lucrative incremental opportunity of US$ 7.3 billion between 2022 and 2030 in the sales of sterile and antiviral packaging products for packing surgical and medical instruments underscores the critical role of these packaging solutions in ensuring the safety and integrity of medical supplies.
Seize the Opportunity: Get Report Now for a Thorough Report
https://www.futuremarketinsights.com/checkout/11298
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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
