July 19, 2024

Medical Implant Sterile Packaging Market Propelled by Increased Healthcare Expenditure

The medical implant sterile packaging protects implants like orthopedic implants, cardiovascular implants, and dental implants from external contamination during storage and transportation. These sterile packages help prevent microbial contamination and subsequent infections in patients undergoing implant surgeries.

The global Medical Implant Sterile Packaging Market is estimated to be valued at US$ 25.8 billion 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: Increased healthcare expenditure on advanced medical treatments and surgical procedures which utilize medical implants is expected to drive the demand for medical implant sterile packaging over the forecast period. The growing geriatric population prone to orthopedic conditions also contributes to the increased use of orthopedic implants thereby ramping up the need for effective sterile packaging solutions. Advanced packaging formats with added tamper evidence and ease of peeling further boost the sterile packaging adoption in the medical implant industry.

SWOT Analysis

Strength: Medical Implant Sterile Packaging offers protection from contamination and maintains the sterility of medical implants during transportation and storage. This helps avoid infection and rejection issues.
Weakness: High cost of sterile packaging equipment and materials increases the overall cost of medical implants. Frequent changes in regulations add compliance burden.
Opportunity: Growing geriatric population and increasing chronic diseases and medical procedures drive the need for sterile packaged implants. Advances in packaging technologies help improve product protection and ease of use.
Threats: Stringent regulations and quality standards pose risk of rejections if not met properly. Substitute packaging alternatives like thermoformed trays offer competitive threat.

Key Takeaways

The global Medical Implant Sterile Packaging market is expected to witness high growth over the forecast period of 2023 to 2030. The market size is projected to reach US$ 25.8 Bn by 2023 from US$ 21.3 Bn in 2018, at a CAGR of around 10%.

Regional analysis: North America dominates the market currently due to advanced healthcare infrastructure and rising orthopedic and cardiovascular procedures in the region. Asia Pacific is expected to grow at the fastest pace owing to growing medical tourism, rising healthcare spending, and increasing focus on quality standards by manufacturers in countries like China, India, and Japan.

Key players: Key players operating in the medical implant sterile packaging market are Oliver-Tolas, Bemis, Steripack, Orchid, Multivac, Janco, Sealed Air, and Selenium. These players are focusing on new product launches, partnerships, and mergers & acquisitions to strengthen their market presence. For example, Bemis acquired Ahlstrom-Munksj√∂’s food packaging business in 2017 to expand its sterile packaging product portfolio.

*Note:

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