The global sterile packaging market is expected to rise at a CAGR of 5.8% in the evaluation period from 2023 to 2033. It is likely to surpass a valuation of US$ 29.5 billion by 2033 from US$ 16.8 billion crossed in 2023.
Ampoules and vials are choices opted by sterile packaging manufacturers. It is noticed that multi-compartment packaging products such as thermoformed trays and blister packs have positive potential in the sterile packaging industry.
Apart from convenience and ease of handling, ampoules, vials, pre-filled syringes, and cartridges also ensure safety & drugs overfill reduction. Consequently, pharma manufacturers might prefer these drug administration forms.
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Emerging trend of pharmaceutical manufacturers to opt for plastics over glass for parenteral packaging is proving to be an economical and value-based approach for manufacturers. Plastic finds a wide range of applications in sterile packaging.
Pouches, thermoformed trays, clamshells, and other packaging products are manufactured with plastic. Adaptability of plastic as the most preferred material for molding into various shapes and high barrier products might make it suitable for a wide range of sterile packaging products.
Anticipated transformation in the United States pharmaceutical sector across all segments is likely to re-shape the entire North America pharmaceutical and associated sectors. Shrinking profit margins among large and small pharmaceutical producers would force them to explore new avenues.
The pharmaceutical sector is highly fragmented owing to the presence of numerous small-scale companies in Asia Pacific, especially in India and China. This is hence expected to create remunerative growth opportunities in the region.
Key Takeaways from Sterile Packaging Market Study:
- The global sterile packaging industry witnessed a sizable growth of 6% CAGR over the historical period from 2015 to 2022.
- The United States is estimated to account for 8% of the sterile packaging industry share by the end of 2033.
- Total sterile packaging sales in India are expected to witness growth at 2% CAGR between 2023 and 2033.
- By product, the vials & ampoules segment is projected to register a CAGR of 4% in the assessment period.
- The surgical & medical instruments segment by end use is projected to create a total incremental opportunity of US$ 6.7 billion through 2033.
- Berry Global Inc. announced the opening of a brand-new cutting-edge healthcare center in India in April 2023.
- Becton, Dickinson and Company introduced a new pre-fillable vaccine syringe with improved technology in September 2022.
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Sterile Packaging Market by Category
By Product Type:
- Thermoform Trays
- Vials & ampoules
- Caps & Closures
- Pre-filled syringes
- Blister & clamshells
- IV Bags & pouches
- Others (Lids, etc.)
By Material Type:
- Plastic Sterile Packaging
- Glass Sterile Packaging
- Metal Sterile Packaging
- Paper & paperboard Sterile Packaging
By End Use:
- Pharmaceutical & Biological
- Surgical & Medical Instruments
- Food & Beverage
- Other End Use
- North America
- Latin America
- South Asia
- East Asia
- Middle East & Africa (MEA)
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