The global sterile medical packaging market size was valued at USD 39.79 billion in 2021. The market is projected to grow from USD 44.29 billion in 2022 to USD 73.67 billion by 2029, exhibiting a CAGR of 7.5% during the forecast period. The growing cognizance about the advantageous properties of sterile medical packaging such as tear resistance, durability, breathability, and the superior microbial barrier will promote the growth of the market during the forecast period, states Fortune Business Insights in a report, the market size stood 31.38 Billion in 2019. The escalating requirements for sterile medical packaging in numerous applications, involving in-vitro diagnostic products and surgical medical instruments will have a positive impact on the market in the forthcoming years.
Information source
https://www.fortunebusinessinsights.com/sterile-medical-packaging-market-102798
Market Driver:
Growing Hygiene and Sterility in Medical Equipment to Stimulate Growth
The increasing prevalence of infectious and communicable diseases and viruses such as COVID-19, flu, tuberculosis, and SARS has led to improved hygiene in medical devices intending to prevent any contamination or spread of disease in patients. The focus towards robust packaging in medical devices such as syringes, needles, bandages, face masks, gloves, applicators, suction catheters, testing kits, and surgical sponges, will positively influence the market growth. The packaging used in these devices necessitates effectual maintenance for sterility. Thus, the need for effective packaging solutions will propel the market during the forecast period. In addition, the rising demand for single-use medical equipment owing to ethical and hygiene aspects for protection against the risks of disease transmission will foster healthy growth of the market in the forthcoming years.
Market Restraint:
Implementation of Stringent laws to Diminish Market Development
The implementation of stringent regulatory standards in manufacturing to maintain the sterility of packed contents will consequently dampen the growth of the market. These stringent norms ensure that the packed devices or instruments do not experience any adverse reaction or damage such as wear and tear from any external force during transportation. EN ISO 11607 (part 1 and part 2) is the global standard that specifies the validation requirements of medical packaging systems used for sterilized medical devices or instruments. These validation requirements are used in various steps of packaging products such as material selection, design qualification, design testing control, and process validation. The complexity of these standard rules will impede emerging players to invest in the market during the for
