Sterilization Pouches Market Growth in Panasonic & A. O. Smith Corporation as and Forecast 2027
The global sterilization pouches market size is projected to reach USD 44,612.37 million by 2027, exhibiting a CAGR of 5.51% during the forecast period. Spread of infections through contaminated medical devices is set to spike the demand for sterilization containers, shares Fortune Business Insights™ in its report, Medical devices are indispensible items in any healthcare facility, being employed in various kinds of health procedures. These devices need to be stored in sterile environments to prevent them from getting contaminated. However, medical equipment is one of the primary causes of spread of healthcare-associated infections. According a 2018 study of the Centers for Disease Control and Prevention (CDC), temporary medical devices such as urinary catheters were a frequent cause of spread of infections in healthcare facilities in the US between 2015 and 2017. Sterilization pouches are, therefore, crucial in maintaining the sterility standards of the devices used for healthcare purposes, which is the primary factor driving the market growth.
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As per the report findings, the market value stood at USD 26,964.91 million 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.
Increasing Generation of Plastic Waste by Medical Facilities to Stem Market Growth
Medical facilities generate enormous amounts of plastic waste, since majority of instruments and equipment used in these facilities contain plastics. According to the US Healthcare Plastics Recycling Council, 40% (approximately 5 million pounds) of plastic waste generated in US hospitals is from sterilization pouches and wraps. As a result, there is growing clamor for the use of reusable and recyclable plastic sterilization products in hospitals. Surveys conducted by Practice Greenhealth, a non-profit organization dedicated to make hospitals more sustainable, found that hospitals that had replaced sing-use plastic devices with reusable ones have experienced a significant decline in waste generation. Greenhealth also opines that reusable medical products can also reduce costs by a sizeable margin for healthcare facilities.
Consistent Access to Quality Healthcare to Ensure Stable Product Demand in North America
In 2019, the market size in North America stood at USD 9,534.68 million and the region is expected to dominate the sterilization pouches market share in the forthcoming years. The main reason for this is the assured access to standard healthcare services and products to populations across the region. Moreover, per capita healthcare expenditure in Europe is also considerably high compared to other countries, which is further fueling the growth of the regional market.
The market in Europe is anticipated to showcase promising growth owing to active adoption of advanced sterilization solutions in healthcare facilities in Western Europe. In Asia Pacific, healthcare expenditure is steadily rising, especially in India and China, which augurs well for the global market.
Key Players to Focus on Optimizing Response to the COVID-19 Outbreak
The COVID-19 pandemic has forced companies in this market to leverage their expertise in optimizing their response to this unprecedented health crisis. With the usage of medical devices surging worldwide, the demand for sterilization pouches and similar products is also escalating, compelling players to augment production capacities to meet this demand.
- May 2020: STERIS plc received another Emergency Use Authorization (EUA) by the US Food and Drug Administration (FDA) for decontamination of N95 respirators. The company has created a decontamination cycle for hospitals to utilize its AMSCO Steam Sterilizers which use hydrogen peroxide to decontaminate respirators.
- December 2019: US-based M&Q Packaging created a new line of dry heat and steam sterilization pouches closures, with the ability to withstand high temperatures and resist chemical wear & tear. The product was custom-engineered for a customer, leading the company to innovate an “easy close” flap solution.
List of Companies Profiled in this Market Report:
- STERIMED (US)
- Cantel Medical Co. (US)
- Proampac (US)
- Wihuri (China)
- Certol International (US)
- Smurfit Kappa (Ireland)
- PMS Healthcare Technologies (US)
- 3M (US)
- Berry Global (US)
- Amcor plc (Australia)
- AMD Medicom Inc. (Canada)
- Cardinal Health (US)
- Shanghai Jianzhong Medical Equipment Packing Co., Ltd. (China)
- Bischof+Klein (Germany)
- STERIS (Ireland)
- Getinge Group (Sweden)
- Dynarex Corporation (US)
- Mondi Group (Austria)
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