“Global Sterilization Wrap Market to reach a market value of USD 481.9 Million by 2030 growing at a CAGR of 3.7%”
The Global Sterilization Wrap Market size is expected to reach $481.9 million by 2030, rising at a market growth of 3.7% CAGR during the forecast period.
Sterilization is crucial for preventing infections and ensuring patient safety during medical procedures. As a result, healthcare facilities, including hospitals, clinics, and ambulatory surgical centers, require a steady supply of sterilized medical devices. Consequently, the hospitals & Clinics segment would generate approximately 69.5 % Share of the market by 2030. In addition, healthcare regulatory agencies enforce strict guidelines for the sterilization of medical devices.
Material science innovations have led to the development of sterilization wrap materials with enhanced barrier properties. These materials are designed to effectively block the passage of microorganisms and maintain sterility during sterilization and storage. Hence, technological advancements in material science are driving the growth of the market.
Additionally, as economies grow and populations expand, there is a corresponding increase in healthcare expenditure. Governments and private organizations invest more in healthcare infrastructure, facilities, and services to meet the growing healthcare needs of their populations. Thus, the expansion of the global healthcare industry is driving the growth of the market.
However, Healthcare facilities, including hospitals, clinics, and ambulatory surgical centres, operate within tight budgets and face increasing cost pressures. The high cost of sterilization wraps adds to the expenses incurred in maintaining sterile environments and ensuring patient safety. In conclusion, the high cost of sterilization wraps is impeding the market’s growth.
Moreover, this expansion drove additional sterilization equipment and supplies, including sterilization wraps, to support the increased capacity. Thus, the COVID-19 pandemic positively impacted the market. Healthcare facilities experienced a heightened demand for sterilization wraps to ensure the sterility of medical instruments and equipment used to treat COVID-19 patients. The pandemic underscored the importance of infection prevention and control measures in healthcare settings.
Based on material type, the market is divided into plastic & polymer, paper & paperboard, and others. In 2022, the plastic & polymer segment garnered a 71.1 % revenue share in the market. Plastic and polymer materials offer excellent barrier properties, effectively preventing the ingress of microorganisms during sterilization and storage. Also, plastic and polymer materials are known for their durability, strength, and puncture resistance, making them ideal for use in sterilization wraps.
On the basis of end-use, the market is segmented into hospitals & clinics and others. In 2022, the others segment attained a 28.5 % revenue share in the market. Sterilization wraps can also be used in other industries and settings where maintaining sterility is important. For example, laboratories with microbiological cultures or other sensitive materials may use sterilization wraps to maintain sterility. The wraps help prevent contamination and reduce the risk of infections. Hence, the above-end uses are driving the growth of the segment.
Free Valuable Insights: Global Sterilization Wrap Market size to reach USD 481.9 Million by 2030
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the Asia Pacific region generated a 28.24 % revenue share in the market. The Asia-Pacific region is home to a large and rapidly growing population, resulting in increased demand for healthcare services. As healthcare needs continue to rise, there is a corresponding increase in the demand for medical procedures and treatments that require sterile instruments and equipment. Sterilization wraps are crucial in infection control and patient safety in this dynamic healthcare landscape.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 358.6 Million |
| Market size forecast in 2030 | USD 481.9 Million |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 3.7% from 2023 to 2030 |
| Number of Pages | 180 |
| Number of Tables | 250 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Material Type, End-use, Region |
| Country scope |
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| Companies Included | Berry Global Group, Inc., Ahlstrom Holding 3 Oy, Cardinal Health, Inc. Medline Industries, LP, Steris PLC, Narang Medical Limited, McKesson Corporation (McKesson Medical-Surgical, Inc.), Dynarex Corporation Medicom Group, Propper Manufacturing Co., Inc. |
By End-use
By Material Type
By Geography
The Market size is projected to reach USD 481.9 million by 2030.
Increasing Demand for Sterilized Medical Devices are driving the Market in coming years, however, High Cost of Sterilization Wraps restraints the growth of the Market.
Berry Global Group, Inc., Ahlstrom Holding 3 Oy, Cardinal Health, Inc. Medline Industries, LP, Steris PLC, Narang Medical Limited, McKesson Corporation (McKesson Medical-Surgical, Inc.), Dynarex Corporation Medicom Group, Propper Manufacturing Co., Inc.
The expected CAGR of this Market is 3.7% from 2023 to 2030.
The Hospitals & Clinics segment is leading the Market, By End-use in 2022 there by, achieving a market value of $335,006.6 Thousands by 2030.
The North America region dominated the Market, By Region in 2022 there by, achieving a market value of $164.7 Million by 2030.
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