The global sterilization pouches market size isprojected to reach USD 44.61 billion by 2027, exhibiting a CAGR of 5.51% duringthe forecast period. Spread of infections through contaminated medical devicesis set to spike the demand for sterilization containers, shares FortuneBusiness Insights™ in its report, titled “Sterilization Pouches MarketSize, Share & Industry Analysis, By Type (Sterilization Pouches {PaperPouches, Plastic Pouches}, Sterilization Wrapping, Sterilization Containers andOthers), By Application (Hospitals, CSSDs, Clinics & and Others) andRegional Forecast, 2020-2027”.
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Medical devices are indispensible items in any healthcare facility, beingemployed in various kinds of health procedures. These devices need to be storedin sterile environments to prevent them from getting contaminated. However,medical equipment is one of the primary causes of spread ofhealthcare-associated infections. According a 2018 study of the Centers forDisease Control and Prevention (CDC), temporary medical devices such as urinarycatheters were a frequent cause of spread of infections in healthcarefacilities in the US between 2015 and 2017. Sterilization pouches are,therefore, crucial in maintaining the sterility standards of the devices usedfor healthcare purposes, which is the primary factor driving the market growth.
As per the report findings, the market value stood at USD 26.96billion in 2019. The other highlights include:
- Actionable insights into the upcoming business and investment opportunities in the market;
- Comprehensive analysis of the central market trends, drivers, and restraints;
- In-depth study of all market segments; and
- Careful examination of the regional prospects and competitive milieu of the market.
Market Restraint
Increasing Generation of Plastic Waste by Medical Facilities toStem Market Growth
Medical facilities generate enormous amounts of plastic waste,since majority of instruments and equipment used in these facilities containplastics. According to the US Healthcare Plastics Recycling Council, 40%(approximately 5 million pounds) of plastic waste generated in US hospitals isfrom sterilization pouches and wraps. As a result, there is growing clamor forthe use of reusable and recyclable plastic sterilization products in hospitals.Surveys conducted by Practice Greenhealth, a non-profit organization dedicatedto make hospitals more sustainable, found that hospitals that had replacedsing-use plastic devices with reusable ones have experienced a significantdecline in waste generation. Greenhealth also opines that reusable medicalproducts can also reduce costs by a sizeable margin for healthcare facilities.
Regional Insights
Consistent Access to Quality Healthcare to Ensure Stable ProductDemand in North America
In 2019, the market size in North America stood at USD 9,534.68million and the region is expected to dominate the sterilization pouches marketshare in the forthcoming years. The main reason for this is the assured accessto standard healthcare services and products to populations across the region.Moreover, per capita healthcare expenditure in Europe is also considerably highcompared to other countries, which is further fueling the growth of theregional market.
The market in Europe is anticipated to showcase promising growthowing to active adoption of advanced sterilization solutions in healthcarefacilities in Western Europe. In Asia Pacific, healthcare expenditure issteadily rising, especially in India and China, which augurs well for theglobal market.
Competitive Landscape
Key Players to Focus on Optimizing Response to the COVID-19Outbreak
The COVID-19 pandemic has forced companies in this market toleverage their expertise in optimizing their response to this unprecedentedhealth crisis. With the usage of medical devices surging worldwide, the demandfor sterilization pouches and similar products is also escalating, compellingplayers to augment production capacities to meet this demand.
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https://www.fortunebusinessinsights.com/sterilization-pouches-market-103282
