According to a new report by Persistence Market Research titled “Medical Implants Sterile Packaging Market: Global Industry Analysis and Forecast, 2016–2024”, the global medical implants sterile packaging market is anticipated to be valued at US$ 1,427.8 Mn by the end of 2016 and this is estimated to increase to US$ 2,436.4 Mn by the end of 2024, registering a CAGR of 6.5% in terms of value during the forecast period (2016 – 2024). Orthopedic implants (including spinal implants, reconstructive joint implants, and extremity braces & support) is expected to gain a significant market share owing to a large global baby boomer population prone to orthopedic ailments.
Global medical implants sterile packaging market dynamics
A growing demand in medical packaging and increasing usage of hygiene packaging among multiple end users is anticipated to drive advances in the industry. Medical implants sterile packaging is one of the emerging packaging solutions, widely used for pharma packaging, and is driven by factors such as increasing implant surgeries, innovative medical equipment and implants, increasing chronic degenerative diseases, and changing lifestyle of people.
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The clamshell product type segment is anticipated to witness high Y-o-Y growth rates ranging from 5.8% to 7.2% over 2016–2024 and is expected to exhibit a CAGR of 7.6% in terms of value over the forecast period.
The foils material type segment is expected to create a significant CAGR of 7.3% in terms of value over the forecast period. The paper material type segment is projected to grow at lower Y-o-Y rates ranging from 5.6% to 5.7% over 2016–2024.