Sterilization Pouches Market to Grow at 5.51% CAGR till 2027; Extensive Utilization of Plastic Sterilization Solutions to Aid Market Growth

The global sterilization pouches market size is projected to reach USD 44.61 billion by 2027 owing to proliferation of healthcare facilities in emerging economies, states Fortune Business Insights™ in its report, titled “Sterilization Pouches Market Size, Share & Industry Analysis, By Type (Sterilization Pouches {Paper Pouches, Plastic Pouches}, Sterilization Wrapping, Sterilization Containers and Others), By Application (Hospitals, CSSDs, Clinics & and Others) and Regional Forecast, 2020-2027”. The report further states that the value of this market was at USD 26.96 billion in 2019 and is expected to register a CAGR of 5.51% from 2020 to 2027.

The COVID-19 outbreak is expected to result in an “N-shaped” curve of this market growth over the short-term forecast period. Choking of global supply chains and uncontrolled spread of the infection are two prominent factors responsible for the diminished growth of this market in the current year.

Sterimed and Grupo EEE Forge Alliance to Lead Global Medical Packaging Industry

In October 2019, US-based Sterimed Group announced the successful acquisition of the Mexican sterilization packaging specialist, Especialistas en Esterilizacion y Envase (Grupo EEE), to form a new entity, synergizing the expertise of both companies. Grupo EEE specializes in sterilization equipment, solutions, and apparels and owns subsidiaries across Central and South America. The acquisition will allow Sterimed to accentuate its presence in Latin America and strengthen its sales network in both Americas, while EEE will benefit by expanding its distribution network outside of Latin America. Forging of such beneficial alliances has emerged as a hallmark feature of the competitive landscape of this market.

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Development of Reusable Sterilization Pouches to Augment Market Growth

One of the most prominent factors driving the sterilization pouches market growth is the notable development of reusable sterilization solutions. For instance, the “Transcendentist Reusable Sterilization Pouches and Wraps” are made from microfibers that are reusable and are engineered to ensure effective sterilization through steam and heat. Furthermore, with concerns surrounding plastic scrap generated from medical facilities growing, there is a marked shift towards reusable medical packaging solutions, not only to reduce plastic pollution, but also to save costs. For example, the EnviroPouch® brand is the first FDA-cleared reusable steam sterilization pouch. The product can be used at least 200 times, saving purchasing and disposal costs, reducing waste generation, and drastically bringing down sterilization process costs.     

Implementation of Portfolio Expansion Measures by Players to Intensify Competition

The competition in this market is intense yet fragmented as there is a healthy presence of both large and small players. Leading companies such as Cardinal Health and 3M are adopting strategies to entrench their position in their home turf as well as broaden their presence globally. Many of these companies are frequently entering into agreements to acquire smaller companies and expand their offerings. The smaller players, on the other hand, are investing in R&D to come out with innovative products and create a niche space for themselves in the market.

Industry Development:

• July 2019: The Ohio-based packaging solutions provider, ProMach, announced its takeover of the North Carolina-based sterilization solutions leader, Stock America. The acquisition of Stock America will enable ProMach to strengthen its portfolio of sterile packaging solutions and expand its presence in the food processing industry of North America.

List of Key Players Covered in the Market Report:

• 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)
• 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)

Further Report Findings:

• The hospitals segment, which held a market share of 50.51% in 2019, is anticipated to continue its dominance in the near future as hospitals are the largest consumers of these pouches and wraps.
• Robust healthcare system in North America is expected to aid the region to command the sterilization pouches market share during the forecast period. The market size of the region in 2019 was at USD 9,534.68 million.
• In Latin America, the demand for sterilization packaging will be mainly driven by the fledgling economies of Brazil, Argentina, and Mexico.

Table of Segmentation: