Medical Implant Sterile Packaging is Estimated to Witness High Growth Owing to Opportunity
Medical implant sterile packaging is used for sterilizing and packaging implantable medical devices to maintain sterility before use. Sterilization of medical implants reduces the risk of contamination and infection. Medical implant sterile packaging provides a protective barrier for sterilized implants including hip replacements, pacemakers, screws, plates, and other devices. The growing number of surgeries and increasing preference for minimally invasive procedures have augmented the demand for sterilely packaged medical implants.
The global medical implant sterile packaging market is estimated to be valued at US$ 25.8 billion in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
Rising Adoption of Single-Use Sterile Packaging
The market opportunity lies in the rising adoption of single-use sterile packaging for medical implants. Single-use sterile packaging offers advantages like prevention of contamination, ease of handling and transportation. They ensure sterility is maintained throughout the supply chain until opening. With the growth of ambulatory surgical centers and emphasis on infection control, single-use sterile packaging is gaining prominence over multi-use packaging. The single packaging eliminates the need for re-sterilization and facilitates just-in-time inventory management. The increased demand for single-use packaging from ambulatory centers and orthopedic implant manufacturers is expected to drive the medical implant sterile packaging market during the forecast period.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is low as the medical implant sterile packaging market requires high capital investment and compliance with strict regulations.
Bargaining power of buyers: The bargaining power of buyers is high due to the presence of numerous established players and commoditization of products.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of substitute raw materials.
Threat of new substitutes: The threat of new substitutes is low as sterile packaging plays a crucial role in maintaining sterility during implant storage and transportation.
Competitive rivalry: The market is consolidated with large players competing on the basis of product quality, innovation, and pricing.
SWOT Analysis
Strengths: Established production facilities and compliance with stringent regulation boost production capacity.
Weaknesses: High capital requirement and vulnerability to raw material price volatility.
Opportunities: Growing demand for medical implants and rise in number of surgeries offer market opportunities.
Threats: Stringent regulations and vulnerability to economic slowdowns pose threats.
Key Takeaways
The global medical implant sterile packaging market is expected to witness high growth over the forecast period of 2023 to 2030. The market was valued at US$ 25.8 Bn in 2024 and is expected to reach over US$ 50 Bn by the end of the forecast period with a CAGR of over 10%.
The Asia Pacific region dominates the medical implant sterile packaging market and accounted for over 30% share in 2024. Growth in the region is driven by expanding medical facilities, rising healthcare expenditure, and increasing rate of chronic diseases. China and India are two largest and fastest growing markets in the Asia Pacific region.
Key players operating in the medical implant sterile packaging market are Oliver-Tolas, Bemis, Steripack, Orchid, Multivac, Janco, Sealed Air and Selenium. These players compete on the basis of product innovation, quality, and price. They focus on expanding production capacity and compliance with stringent regulations to strengthen their market position
