The sterile medical packaging market size is estimated to be USD 36.9 billion in 2020 and projected to reach USD 57.7 billion by 2025, at a CAGR of 9.4% from 2020 to 2025. Increasing investment, coupled with growth in healthcare industry across the globe is expected to drive the growth of sterile medical packaging market. The recent outbreak of Covid-19 is expected to have a positive impact on the sterile medical packaging market.
Major companies operating in the sterile medical packaging industry include Amcor Limited (Australia), Dupont De Nemours, Inc. (US), 3M Company (US), West Pharmaceutical Services, Inc. (US), and Sonoco Products Company (US).
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Amcor Limited (Australia) is one of the leading players in the sterile medical packaging market and has been adopting inorganic and organic strategies to sustain its market position. Amcor has strengthened its business operations by acquiring existing businesses that complement its operations. In June 2019, Amcor completed the acquisition of Bemis. This strategic combination establishes Amcor as the global leader in consumer packaging with a comprehensive global footprint, scale in every region, and industry-leading R&D capabilities. The acquisition provided the company with a wider geographical presence and greater scale in key regions of North America, Latin America, APAC, and Europe.
3M Company (US) is another major company in the sterile medical packaging market. It has been adopting organic and inorganic strategies to sustain its position in the market. In October 2019, the company completed the acquisition of Acelity, Inc. and its KCI subsidiaries worldwide. Acelity is a leading global medical technology company focused on advanced wound care and specialty surgical applications marketed under the KCI brand. This acquisition accelerated 3M as a leader in advanced wound care, which is a significant and growing market segment. In June 2018, the company also opened its new headquarters in Ang Mo Kio, Singapore
Sterile Medical Packaging Market by Material (Plastics, Metal, Glass, Others), Type (Thermoform Trays, Bottles, Vials & Ampoules, Blister & Clamshells, Others), Application (Surgical Instruments, Pharmaceutical, Others) - Forecast To 2025
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