A new report from Fact.MR forecasts that the global market for sterile medical packaging will grow from $44.22 billion to $86.99 billion between 2023 and 2033.

Sterile medical packaging, used for medication and medical equipment, provides a microbiological barrier throughout the product’s lifecycle. Packaging formats include vials, bottles, pouches, and thermoformed trays. Plastics, glass, metal, paper, and paperboard are commonly used materials.

During the forecast period:

• Global demand for sterile medical packaging is expected to grow at a CAGR of 7%.
• China’s market for these products is forecast to experience a 12% CAGR.
• The CAGR for plastic sterile medical packaging is predicted to be 8%.
• The glass portion of the market is expected to grow at a CAGR of 7%.

Factors encouraging growth include a rapidly developing healthcare industry, an expanding geriatric population, growing demand for surgical equipment and medical devices, governmental emphasis on controlling infection rates, and generally more favorable healthcare policies.

In addition, the evolution of smart packaging and the rising prevalence of contagious diseases are expected to increase sales of sterile medical packaging materials.

Asia-Pacific, where the healthcare sector is rapidly developing, is poised to experience faster growth than other regions. China, India, Japan, and South Korea are promoting domestic pharmaceutical manufacturing, which will in turn drive sales of sterile medical packaging in those countries.