Global MedicalImplant Sterile Packaging Market, by Product Type (Pouch and Bags,Clamshell, Blister, Tubes, Vials, and Others (Boxes)), by Material Type(Plastic, Paper, Foil, and Glass), by Application (Spinal Implants,Reconstructive Joints (Hip Joints, Knee Joints, Elbow Joints, and Other SmallJoints), Extremity Braces and Support (Knee, Elbow, Wrist, Hand, andFoot/Ankle), Dental Implants, Cardiovascular Implants, and Other Implants), andby Region (North America, Latin America, Europe, Asia Pacific, Middle East, andAfrica) is estimated to be valued at US$ 1,741.3 million in 2019 and isexpected to exhibit a CAGR of 7.1%, over the forecast period (2019-2027), ashighlighted in a new report published by Coherent Market Insights.
The rising role of contractsterilization service is expected to propel the market growth over the forecastperiod. Many OEMs are looking for contract manufacturers that offer in house sterilizationservice, so that the organization can focus on cutting down the overallproduction and develop new innovative medical implants, as these contractservice providers are one-stop-shop for the manufacturers. Therefore, risingdemand for sterilization service is expected to propel the market growth overthe forecast period.
Development of the innovativetechnologies for medical implant sterile packaging is expected to propel themarket growth.
Introduction of newer and complexmedical implants with different testing and packaging solution is drivingmanufacturers to introduce innovative packaging technique and to focus towardsimproving the packaging of these complex devices, which is expected to drivegrowth to the market over the forecast period. For instance, Nelson is engagedin developing several alternative approaches for complex medical comboproducts.
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Various companies are focusing onmitigating risk to the supply chain pipeline and many OEMs are planning for allaspects of production such as sterilization and packaging. Hence this isexpected to foster the market growth. Moreover, shifting material preference bythe manufacturers in the Middle East and Africa is further expected to augmentthe market growth.
Browse 35 Market Data Tables and38 Figures spread through 167 Pages and in-depth TOC on " Global MedicalImplant Sterile Packaging Market, by Product Type (Pouch and Bags, Clamshell,Blister, Tubes, Vials, and Others (Boxes)), by Material Type (Plastic, Paper,Foil, Glass), by Application (Spinal Implants, Reconstructive Joints (HipJoints, Knee Joints, Elbow Joints, Other Small Joints), Extremity Braces andSupport (Knee, Elbow, Wrist, Hand, and Foot / Ankle) Dental Implants, CardiovascularImplants, and Other Implants), and by Region (North America, Latin America,Europe, Asia Pacific, Middle East, and Africa), – Global Forecast to 2027"
The increasing adoption of theinorganic growth strategies such as acquisitions and collaborations by marketplayers are expected to drive growth of the global medical implant sterilepackaging market, over the forecast period. For instance, in April 2016, BemisCompany Inc. acquired packaging operation of Steripack Group, a globalmanufacturer of sterile packaging for medical device and pharmaceuticals.Similarly, in August 2019, Kohlberg closes on Bemis Healthcare Packaging Europeacquisition, and merges with Nelipak, a developer and manufacturers of customdesigned thermoformed packaging for the medical device and pharmaceutical
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Key Takeaways of the GlobalMedical Implant Sterile Packaging Market:
Global medical implant sterilepackaging market is expected to exhibit a CAGR of 7.1% over the forecast period(2019-2027), owing to increasing product launches by key players in the medicalimplant sterile packaging market. For instance, in July 2017, ECA MedicalInstruments launched sterile-packed instrument set to protect cannulatedtitanium screw. Along with this, company also launched sterile pack kits andinstruments for hand and wrist repair, joint arthroplasty, and spine implants.
Among application, dental implantis one of the major segment and is expected to witness significant growth,owing to increasing number of dental implantation procedures. For instance,according to statistics by the American Academy of Implant Dentistry in August2018, around 3 million people in the U.S. received dental implants. Moreover,around 500,000 people undergo dental implantation treatment each year in theU.S.
Some of the major players operatingin the global medical implant sterile packaging market include Oliver Tolas,Bemis Company, Inc, Steripack Contract Manufacturing, Orchid OrthopedicSolutions LLC, Multivac Group., Janco Inc, and Sealed Air Corporation
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