Growth is attributed to an ageing population
Sterile medical packaging demand is expected to rise by 5.4% annually to $2.1bn in 2008, representing almost 12bn units, according to a new study from Cleveland-based industrial market research firm The Freedonia Group.
The expected increase is attributed to an ageing population, which could boost the incidence of acute and chronic conditions as well as the need for related medical products.
According to the report, Sterile Medical Packaging, more stringent infection control standards and increasing efforts to reduce medication errors may also stimulate growth, as could the convenience of high value sterile packaging products that also serve as drug delivery systems.
Thermoformed trays and sterile pouches should continue to dominate the market, while prefillable syringes are projected to show the fastest growth. Overall, sterile packaging gains are expected to be moderated by continued endeavours to reduce costs by downgauging materials and reducing the average length of hospital stays.
Pharmaceuticals should remain the leading sterile packaging market due to expanding parenteral drug use as a result of increasing incidences of cancer, diabetes and other diseases that often require long-term, regular use of parenteral drugs and their containers.