Sterilized Packaging Market Analysis
The global sterilized packaging market is predicted to grow at a notable CAGR over the forecast period (2017-2022), states the new Market Research Future (MRFR) report. Packaging is a vital part of contemporary life, as this helps in protecting the products against harm such as leakage, contamination, and damage during storage or transit. There are some products that need sterilized packaging, which helps in protecting the products against contamination and also reacting with packaging solutions. Sterilization has utmost significance in the pharmaceutical and medical industry. A good number of packaging manufacturers are emphasizing new packaging methods to protect drugs from contaminants, adhering to pharmaceutical packaging regulations, and increase patient compliance.
Various factors are propelling the sterilized packaging market growth. These factors, as specified by the Market Research Future (MRFR) report, include increasing demand for sterilized packaging in the healthcare sector, increasing aging population, growing popularity of utilizing reliable packaging, and increasing competition among manufacturers for developing sterile packaging. Additional factors propelling market growth include several benefits such as better microbial protection, need for fewer resources, and cost-effective price, and need to preserve the integrity of pharmaceuticals, availability of innovative technologies, and growing demand from the cosmetic and food and beverage industry. Also, increasing incidences of diseases, growing need for hygiene, and standards and mandates issued by the government to regularize packaging norms for ensuring health and safety are also contributing market growth.
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Leading players profiled in the sterilized packaging market report include
- North American Sterilization & Packaging Company (US)
- SteriPack Contract Manufacturing (US)
- West Pharmaceutical Services, Inc. (US)
- SCHOTT AG (Germany)
- Gerresheimer AG (Germany)
- Bemis Company, Inc. (US)
- Amcor Limited (US)
- E. I. du Pont de Nemours and Company (US)
- 3M (US)
- Barger Packaging Inc. (US)
among others. The key players have used multiple strategies in retaining and expanding the market share. These strategies include expansions, mergers and acquisitions, and product innovation.
July 2019: Thermoform Engineered Quality has come up with TEQpropylene, a new solution which is intended in reducing harmful environmental impacts and reducing sterile packaging costs. Its clarity improvements, sustainability, and strength will offer cost-effective packaging. The pouches made by this company are utilized to pack several sterilized medical devices, especially those which are lightweight and low profile. These sterilization pouches are utilized in house sterilization of surgical instruments as well as outpatient surgical centers.
The Market Research Future report provides a wide segmental analysis of the sterilized packaging market based on material and type.
Based on material, the sterilized packaging market is segmented into glass, plastic, and others. Of these, the plastic segment will have the largest share in the market over the forecast period.
Based on type, the sterilized packaging market is segmented into vials, bottles, trays, and others. Of these, the vials segment will dominate the market over the forecast period.
Based on the region, the sterilized packaging market report covers growth opportunities and the latest trends across Europe, North America, Asia Pacific (APAC), and the Rest of the World (RoW). Of these, the APAC region will remain at the forefront over the forecast period. The region’s economic growth has resulted in increased disposable income. Moreover, the rise in living standards will also propel market growth.
In North America, the sterilized packaging market is predicted to have substantial growth over the forecast period. The expansion of the dairy sector here is majorly responsible for the market growth in this region. It is predicted to exhibit the same trend in the upcoming years. North America is prompt in the adoption of new packaging technologies that are anticipated in favoring the proliferation of the sterilized packaging market over the forecast period. Moreover, the growing demand for sterilized packaging from the pharmaceutical industry is predicted to push market growth.
The sterilized packaging market in Europe is predicted to have a healthy growth over the forecast period owing to the burgeoning demand from various industries.
Table Of Content
2 Research Methodology
2.1 Scope Of The Study
2.1.2 Research Objective
2.2 Research Process
2.2.1 Primary Research
2.2.2 Secondary Research
2.3 Market Size Estimation
2.4 Forecast Model
3 Market Dynamics
3.1 Market Drivers
3.2 Market Inhibitors
3.3 Supply/Value Chain Analysis
3.4 Porter’s Five Forces Analysis
LIST OF FIGURES
FIGURE 1RESEARCH MATERIAL
FIGURE 2GLOBAL STERILIZED PACKAGING MARKET: BY MATERIAL (%)
FIGURE 3GLOBAL STERILIZED PACKAGING MARKET: BY TYPE (%)
FIGURE 4GLOBAL STERILIZED PACKAGING MARKET: BY REGION
FIGURE 5NORTH AMERICA STERILIZED PACKAGING MARKET, BY MATERIAL (%)
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