The global sterile medical packaging market size is expected to reach USD 47.89 billion by 2027, exhibiting a CAGR of 5.5% during the forecast period. The growing cognizance about the advantageous properties of sterile medical packaging such as tear resistance, durability, breathability, and the superior microbial barrier will promote the growth of the market during the forecast period, states Fortune Business Insights in a report,
the market size stood 31.38 Billion in 2019. The escalating requirements for sterile medical packaging in numerous applications, involving in-vitro diagnostic products and surgical medical instruments will have a positive impact on the market in the forthcoming years.
Information source: https://www.fortunebusinessinsights.com/sterile-medical-packaging-market-102798
Growing Hygiene and Sterility in Medical Equipment to Stimulate Growth
The increasing prevalence of infectious and communicable diseases and viruses such as COVID-19, flu, tuberculosis, and SARS has led to improved hygiene in medical devices intending to prevent any contamination or spread of disease in patients. The focus towards robust packaging in medical devices such as syringes, needles, bandages, face masks, gloves, applicators, suction catheters, testing kits, and surgical sponges, will positively influence the market growth.
Implementation of Stringent laws to Diminish Market Development
The implementation of stringent regulatory standards in manufacturing to maintain the sterility of packed contents will consequently dampen the growth of the market. These stringent norms ensure that the packed devices or instruments do not experience any adverse reaction or damage such as wear and tear from any external force during transportation.