Medical Implants Sterile Packaging Market to Witness a Pronounced Growth during 2018 - 2025
Thursday, February 13, 2020
As per Trends Market Research (TMR) report, the global market for medical implants sterile packaging is set to expand at over XX% CAGR between 2018 and 2025. By the end of 2018, the global market is estimated to cross US$ XX Million and is expected to reach US$ XX Million by 2025.
Due to a large geriatric population which is prone to orthopedic diseases, demand for orthopedic implants (including, reconstructive joint implants, extremity braces & support and spinal implants) is expected to gain traction over the forecast period. Moreover, growing demand for medical packaging and growing preference for hygiene packaging amongst various end users is anticipated to support the growth of the global market for medical implants sterile packaging over 2025.
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The growing acceptance of medical implants sterile packaging across the globe is further benefiting the overall market. Various pharma packaging companies are adopting advanced medical implants sterile packaging solutions. In addition, factors such as changing lifestyle, advancement in medical implants and equipment packaging, increasing ratio of implant surgeries and higher prevalence of degenerative ailments are expected to fuel the demand for medical implants sterile packaging in the near future.
By product type
The pouches & bags is anticipated to be the fastest growing segment of the market during the forecast period, which is largely attributed to the recent expansion of the application base for pouches & bags segment to multiple pharma divisions. By 2018 end, the segment is projected to account for more than XX% share of the market, expanding at a value CAGR of over XX% through 2018 to 2025.
Whereas, the clamshell segment is projected to increase at a pronounced rate of over XX% CAGR through 2025 in terms of value.
On the basis of regional prospects:
Asia Pacific is expected to be at the pole position in the global market for medical implants sterile packaging. The region is expected to exhibit attractive market opportunities for leading players of the market. This is primarily attributed to the increasing preference of efficient packaging and increased per capita spending.
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Whereas, the mature markets in North America and Europe are expected to observe fluctuations in growth. The market in Europe is expected to increase at over 7% value CAGR between 2018 and 2025. On the other hand, Latin America and the MEA regions are projected to witness a steady growth over the forecast period.
Key participants operating in the global market include Janco Inc., Sealed Air Corporation, Oliver-Tolas Healthcare Packaging, Steripack Contract Manufacturing, Multivac Group, Selenium Medical, Bemis Healthcare, and Orchid Orthopedic Solutions LLC.
Based on material
The Foils category is expected to be the fastest growing segment, increasing at a value CAGR of more than XX% over the forecast period.
Demand for dental implants is expected to remain the highest over 2025. In 2018. The dental implant segment is set to account for more than 13% share of the market.
Similarly, demand for cardiovascular implants is also anticipated to register a healthy growth, reflecting a XX% value CAGR between 2018 and 2025.
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