According to researcher, the Global Sterile Medical Packaging market is accounted for $26.55 billion in 2015 and is expected to reach $42.85 billion by 2022 growing at a CAGR of 7.07%.
Rising Adoption of Sterile packaging in packaging of medical equipment, pharmaceutical and biological products is one of the major factors driving the market. Factors such as rising healthcare awareness and disposable income are further fueling the market. However, maintaining medical packaging integrity is restricting the market growth.
Pharmaceuticals and Biologics segment is expected to witness a highest share during the forecast period owing to its applications. North America accounted for the largest share in the market. Moreover, Asia Pacific is expected to witness the highest CAGR during the forecast period. The favourable growth is attributed to rising healthcare awareness and technological advancements.
Some of the key players in global sterile medical packaging market include ALARIS Medical Systems, Honeywell International Incorporated, 3M Company, ESCO Technologies Incorporated, Becton, Dickinson and Company, Kimberly-Clark Corporation, Bemis Company Incorporated, Alcan Incorporated, Intercome Packaging Company Limited, Ethox Corporation, Abbott Laboratories, Gerresheimer Glass Inc., Baxter International Incorporated, Alcoa Incorporated, Unicep Packaging, Inc., and Amcor Limited.
Via Empowered News