The sterile medical packaging market in Europe is expected to be worth USD 17.4 billion by 2027 from USD 13.1 billion in 2022, growing at a CAGR of 5.85% from 2022 to 2027.
The growing adoption of sterile medical packaging in healthcare and pharmaceutical industries across the European region is one of the key factors propelling the European market growth. During the COVID-19 pandemic, sterilization plays a significant role in preventing the transmission of the virus from one object to another. Several companies follow strict rules in packaging medical products by using containers, pouches, and wraps to protect products against environmental effects. As a result, every medical product used in hospital clinics is wrapped in plastic or paper, which can be recycled easily to protect it from external damage and contamination. Additionally, pharmaceutical companies prefer to include sterile medical packaging for medicine in solid, liquid, and powder states to protect the drugs from sunlight, moisture, and dust.
In addition, the growing number of single-use products in hospitals promotes the growth of the sterile medical packaging market in Europe. Owing to the increasing number of hospital-acquired infections, healthcare providers are showing interest in using disposable medical products for treatment, reducing the spread of the virus from one patient to another and resulting in quality treatment. Furthermore, increasing the usage of personal protective kits during the pandemic due to the reduced spread of the virus, environmental resistance, and waterproof capabilities led to market growth.
The increasing adoption of technological advancements in packaging options further boosts the growth of the European sterile medical packaging market. Due to the increasing demand for sterile medical packaging, most key players are focusing on developing different types of packaging for every type of medical product in the healthcare sector. In addition, they manufacture sterile medical packaging with different types of material based on the cost of the drug or product, leading to market growth.
On the other end, stringent rules for the approval of the material used for medical packaging are one of the major factors hampering the European market growth. In addition, maintaining the long shelf-life for medical products may hamper the market growth. After a certain period, the sterile pack will tear or be damaged due to external changes affecting the package's drugs.
This research report on the Europe sterile medical packaging market has been segmented into the following categories.
By Material:
By Type:
By Sterilization Method:
By Country:
The European region accounted for the second-largest worldwide market share in 2021. During the forecast period, the European market is anticipated to showcase a promising growth rate owing to the increasing investments by the European governments in sterile medical packaging for medical products and increasing awareness regarding the significance of sterile packaging. Due to increasing concerns about healthcare facilities among the European population, many seek to purchase a safely wrapped product. People trust medical drugs or product if it is packed with safe packaging.
Germany is one of the potential regional markets for the sterile medical packaging market in Europe. It is anticipated to witness a notable CAGR during the forecast period owing to the growing usage of prefilled syringes. Many older people use prefilled syringes for various diseases, mainly diabetes. These people prefer insulin intake using prefilled syringes with sterile medical packaging without spills or damage from sunlight. This is expected to result in German market growth.
The UK market is estimated to showcase noticeable progress during the forecast period owing to the increasing presence of many key market participants. The local players in the UK focus more on manufacturing cost-effective medical packaging, which helps with long transportation and provides better protection. The growing R&D centers for inventing new types of material for providing the best packaging and increasing manufacturing centers in the UK are favoring the market growth.
KEY MARKET PLAYERS:
Companies such as Amcor Plc, Steripack Ltd., Wipak Group, BillerudKorsnäs AB, and Riverside Medical Packaging Company Ltd are some of the major players in the Europe sterile medical packaging market.
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