The Global Sterilized Packaging Market was valued at USD 29.22 billion in 2017, and is expected to reach a value of USD 39.46 billion by 2023, at a CAGR of 5.01%, during the forecast period (2018 - 2023). The scope of the market is limited to the products, pouches, bottles, blister & ampoules, clamshells, vials, and others.
- Advertising -
Amcor Limited, E. I. du Pont de Nemours and Company, Bemis Company Inc., Wipak Group, Mitsubishi Chemical Corporation, Schott AG, Reynolds Packaging Group, Oracle Packaging, Inc, Placon Corporation, West Pharmaceutical Services, AptarGroup, Barger Packaging
Browse the complete report @ orbisresearch.com/reports/index/gl…orecast-2018-2023
The growth of the sterilized packaging market, globally, can be attributed to the growing demand for longer shelf life, and avoid contamination of critical devices & equipment. The increasing technological advancements, coupled with the stringent government regulations, have buoyed the growth of the market.
- Advertising -
Brazil To Drive Market In Latin America
Brazil is the biggest economy in Latin America. Strong agricultural sector, well-developed manufacturing & service sectors, and the prominence of the country as an exporter of finished goods, the country is one of the major economies, at the global level.
For example, in 2016, the government forecasted 41,762 new syphilis infections among pregnant women, which is 49 times higher than that reported a decade ago. Moreover, Brazilian health authorities estimate that half of all cases go unreported.
Due to these epidemics, the government is making stringent policies regarding the cleanliness and manufacturing of disinfected medical devices, which is boosting the market for sterilized medical packaging products. Moreover, increase in rapid technological innovation, and R&D initiatives, are adding value to the growth of the market.
Additionally, factors, such as advancement in manufacturing processes, technological innovations, growing demand in the healthcare industry, and implementation of new health laws in Brazil, are anticipated to propel the growth of this market during the forecast period.
In-Vitro Devices To Register Fastest Growth
IVDs may be used in a variety of environments that include laboratories, clinics, diagnostic centers, and educational institutes, or at home. They are employed for preventive diagnosis and early stage screening, and therapy selection and monitoring.
There are potential risks of causing harm to the patient due to the generation of inaccurate test results, as these results are known to have a 70% impact on the healthcare decisions taken. Thus, any form of inaccuracy could lead to the mismanagement of a patient’s disease or condition.
Given this potential risk, as well as the impact on the overall delivery of health care, the governments have taken a role in the oversight of IVDs, through several agencies, including the Food and Drug Administration (FDA), ISO and the Centers for Medicare & Medicaid Services (CMS). This has driven the demand for greater quality assurance through advanced sterilized packaging.
Request a sample of this report @ orbisresearch.com/contacts/request-sample/2132224
Blister and Ampoules to be one of the Most Prominent Segments in the Market
Strengthening compliance rates is a goal of the pharmaceutical industry, and ampoules and blister packaging has been shown to have a positive effect on patient compliance and medication adherence, through high quality and sterilization. Moreover, ampoules and blisters, the demand for highly valued protective properties, adaptability, and cost effectiveness, for the pharmaceutical and surgical sectors.
Other trends in this segment include, the growing demand for product safety and quality in the pharmaceutical & surgical sectors, with the rising compliances in labeling for sterilized devices. Also, the expansion of rural healthcare infrastructure across developed and matured regions, across the globe, is expected to drive the need for ampoules and blister sterilized packaging market, during the forecast period.
Key Developments in the Market
January 2018 - Amcor has pledged to develop all its packaging to be recyclable or reusable by 2025. And, has also planned to focus on significantly increasing its use of recycled materials, and consistently driving more recycling of packaging, around the world.
This commitment is aimed at establishing the company as a leader, in recyclable packaging.
November 2017 - DuPont acquired FMC H&N, to be integrated into DuPont Nutrition & Health (DuPont N&H), and builds on DuPont position as one of the world’s leading providers of sustainable, bio-based food ingredients, and expands its capabilities into the fast-growing pharmaceutical space. FMC’s portfolio is expected to enhance DuPont growth potential with a broader offering of products and solutions, an expanded footprint, a strong R&D pipeline, and access to different and complementary routes to market.
The major players includes - AMCOR LIMITED, E. I. DU PONT DE NEMOURS AND COMPANY, BEMIS COMPANY INC., WIPAK GROUP, MITSUBISHI CHEMICAL CORPORATION, SCHOTT AG, REYNOLDS PACKAGING GROUP, ORACLE PACKAGING, INC, PLACON CORPORATION, WEST PHARMACEUTICAL SERVICES, APTARGROUP, BARGER PACKAGING, amongst others.
Reasons to Access this Report
Identifies how longer shelf life acts as a driver for the market.
Analyzes various perspectives of the market with the help of Porter’s five forces analysis.
Analyzes the end-user and type of product that are expected to dominate the market.
Identifies regions that are expected to witness increased growth during the forecast period.
Latest developments, market shares, and strategies, employed by the major market players.
3-month analyst support, along with the Market Estimate sheet (in Excel).
Access a report @ orbisresearch.com/contact/purchase/2132224
Category: Market Research Publishers and RetailersCompany about: Orbis Research (orbisresearch.com) is a single point aid for all your market research requirements. We have a vast database of reports from the leading publishers and authors across the gl obe. We specialize in delivering customised reports as per the requirements of our clients. We have complete information about our publishers and hence are sure about the accuracy of the industries and verticals of their specialisation. This helps our clients to map their need, and we produce the perfect requi ...