April 24, 2024

The Global Medical Implant Sterile Packaging Market driven by rising chronic diseases and aging population

Medical implant sterile packaging helps protect medical devices from contamination during storage, transportation, and surgery. Implants such as orthopedic implants, cardiovascular implants, neurological implants require sterile packaging to avoid any microbial infection during and after surgery. Rising prevalence of chronic diseases such as cancer, diabetes, cardiovascular diseases globally has increased the demand for implant surgeries. According to WHO, chronic diseases cause over 70% of all deaths worldwide. Aging population is another major driver as risk of chronic diseases increases with age. The global medical implant sterile packaging market plays a vital role in implant packaging to deliver sterile and contamination-free environment for implants. Various types of packaging such as pouches & bags, clamshells, blister packs, boxes are used. Advantages include easy handling and opening in theatres and maintaining sterility over long durations.

The global Medical Implant Sterile Packaging Market is estimated to be valued at US$ 25.8 Bn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

Single use packaging is growing in demand to avoid risk of contamination during multiple use. Single-use sterilized packages are designed for one-time use only and then discarded, ensuring highest sterility. Sustainability has also become an important trend with focus on eco-friendly, compostable, and recyclable packaging materials. Adoption of advanced packaging such as thermoformed clamshells and tyvek pouches has increased due to advantages like affordability, gamma compatibility and ease of handling. Automation in sterile packaging production lines and robotics enables mass production at low-cost. Continued R&D for new packaging technologies supporting long term implant sterility will be a key market trend.

Porter’s Analysis

Threat of new entrants: The threat of new entrants in the medical implant sterile packaging market is moderately low due to high manufacturing costs and strong brand loyalty of established companies.

Bargaining power of buyers: The bargaining power of buyers in the medical implant sterile packaging market is moderate due to availability of various product choices.

Bargaining power of suppliers: The bargaining power of suppliers in the medical implant sterile packaging market is moderate due to availability of substitutes.

Threat of new substitutes: The threat of new substitutes in the medical implant sterile packaging market is low as most packaging options have drawbacks.

Competitive rivalry: Competition in the medical implant sterile packaging market is high among the global players to gain market share.

Key Takeaways

The global medical implant sterile packaging market is expected to witness high growth. The global Medical Implant Sterile Packaging Market is estimated to be valued at US$ 25.8 Bn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030.

Regional analysis comprises- North America is projected to dominate the market during the forecast period. This is attributed to the increasing preference for sterile packaging among patients and hospitals in the region. Asia Pacific is anticipated to witness fastest growth during the forecast period owing to growing healthcare infrastructure and rising awareness regarding sterile packaging.

Key players operating in the medical implant sterile packaging market are Oliver-Tolas,Bemis, Steripack, Orchid, Multivac, Janco, Sealed Air, Selenium. Key players are focusing on new product launches and partnerships with medical device manufacturers to gain a competitive edge in the market.

*Note:

  1. Source: Coherent Market Insights, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it