Medical Implants Sterile Packaging Market
Global Market Study on Medical Implants Sterile Packaging: Clamshell Product Type Segment Projected to Witness a Significantly High CAGR Through 2024
Medical implants packaged with the objective of preventing any sort of contamination are referred to as sterile packaging. Sterilization is a process that utilizes different technologies to destroy microorganisms. It refers to the method that eliminates all forms of biological agents such as prions, viruses, and other transmission agents. Sterile packaging is not a new term in healthcare and medical packaging; however the concept of medical implants sterile packaging gained a defined structure in the last two decades, with key milestones such as ISO 11607 implemented across the pharmaceutical and medical devices industry.
The global medical implants sterile packaging industry has witnessed impressive growth over the last few years owing to significant increase in the number of implant products. Medical implants sterile packaging finds a wide usage in the packaging of spinal, joint, and support implants owing to high performance and anti-contaminant factors. The global medical implants sterile packaging market is estimated to increase at an impressive CAGR of 6.5% in terms of value throughout the forecast period (2016 – 2024).
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- Oliver Tolas
- Bemis Company, Inc
- Steripack Contract Manufacturing
- Orchid Orthopedic Solutions LLC
- Multivac Group.
- Janco Inc
- Sealed Air Corporation
Factors influencing the global medical implants sterile packaging market growth
Key factors such as growth of chronic degenerative diseases, regulatory compliances pertaining to sterilization of medical device packaging, and rising expenditure on healthcare and hygiene are contributing to the growth of the global medical implants sterile packaging market. Also, a growing demand for sterilization in implant products such as joint implants, knee implants, hand / foot replacement, breast implants, dental implants, and other small joint implant surgeries has boosted the growth of the global medical implants sterile packaging market.
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Global medical implants sterile packaging market forecast by product type
On the basis of product type the global medical implants sterile packaging market has been segmented into pouches & bags, clamshell, blister, tubes, vials, and others. In terms of value, the clamshell product type segment is expected to register a significantly high CAGR in the global medical implants sterile packaging market over the forecast period.
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Global medical implants sterile packaging market forecast by material type
On the basis of material type, the global medical implants sterile packaging market has been segmented into plastic, paper, foils, and others. The plastic material type segment is anticipated to create a high market revenue share during the forecast period.
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Global medical implants sterile packaging market forecast by application type
On the basis of application, the global medical implants sterile packaging market has been segmented into spinal implants, reconstructive joint implants, extremity braces & support, dental implants, cardiovascular implants, and other implants. Reconstructive joint implants are further segmented into hip joints, knee joints, elbow joints, and other small joints. Extremity braces & support are further segmented into knee, elbow, wrist, hand, and foot/ankle. The spinal implants application segment is projected to witness significant CAGR in terms of volume during the forecast period.
Global medical implants sterile packaging market forecast by region
On the basis of region, the global medical implants sterile packaging market has been segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The North America medical implants sterile packaging market is estimated to account for a high market value share as compared to other regional markets by the end of 2016. The North America medical implants sterile packaging market is anticipated to create a market share of 37.7% in 2016 and is expected to register a CAGR of 6.9% from 2016 to 2024 in terms of value. North America – though a developed market with multiple market players – is expected to gain momentum in the later phase of the forecast period with future investments in the manufacturing sector and automotive manufacturing processes. The mature market of Europe is anticipated to witness uneven growth throughout the forecast period. However, late adoption of medical packaging in several countries such as Poland, Turkey, and Romania offers significant growth prospects for the medical implants sterile packaging market in the region. The Latin America and MEA medical implants sterile packaging markets are expected to register sluggish growth over the forecast period.
Key market players dominating the global medical implants sterile packaging market
Selenium Medical, Sealed Air Corporation, Oliver-Tolas Healthcare Packaging, Bemis Healthcare, Janco Inc., Steripack Contract Manufacturing, Orchid Orthopedic Solutions LLC, and Multivac Group are some of the companies operational in the global medical implants sterile packaging market.
Among the present players in the global medical implants sterile packaging market, the collective market share held by these companies accounts for 7% of the total market size. Selenium Medical holds a low market share; however this company is expected to show significant growth in the coming years. Orchid Orthopedic Solutions LLC holds a market share of 2.26% while Oliver-Tolas Healthcare Packaging accounts for 1.3% share of the total market.