The global sterile wraps market is anticipated to accumulate a market value of US$ 456.13 million in 2023 and is expected to record a market valuation of US$ 750 million by exhibiting a CAGR of 5.1% in the forecast period 2023 to 2033. The market for sterile wraps registered a CAGR of 3.5 % in the historical period 2018 to 2022.
The efficient control of infection offered by utilization of sterile wraps is a major driving factor of this market. Rapidly increasing number of hospitals and clinics across the globe, need for sterilized products for patient use to evade infections and post-surgery recovery, and rising spending on healthcare facilities are other major factors anticipated to boost revenue growth of sterilization wrap market during the forecast period.
A major part of reducing hospital related infections is the use of proper sterilization wraps. These wraps play a significant role in patient care and wellbeing. Even though healthcare policies are in favor of people admitted in hospitals, rising number of patients may result in increase in hospital infections. Recent trends within hospitals, relating to sterilization wrapping techniques and sequential wrapping have offered greater potential for growth of the sterilization Wraps Market. Furthermore, product innovations like cardinal sterilization wraps and Halyard sterilization wraps are also contributing in market expansion. Increasing focus on research and development of newer products by the key companies is likely to favor the sterile wraps market in the forecast period.
The drive for sterilization warps in healthcare facilities stems from the intense need for adopting effective infection control methods around the world. Sterilization wraps play a crucial role in guaranteeing better infection control among patients by providing excellent barrier control against various contaminations. This is a key driving factor underpinning the product demand.
Besides this, the sterilization wrap market is continuously witnessing growth momentum from the increasing number of high-performing products in various parts of the world. The surging uptake of these products is positively influencing the patient outcomes, especially in hospital settings. The development of products with innovative designs, effective anti-infectants, and advanced materials that cause minimal skin sensitivity is a crucial factor driving growth of the market. Furthermore, increasing expenditure in healthcare facilities in many developing and developed countries, coupled with growing awareness about hygiene among patients and clinicians, is catalyzing the uptake of sterilization wraps.
In addition, mounting investments by manufacturers to enhance their product features is accelerating innovative product developments. The increasing need for such products by healthcare providers is further leading to market expansion. The substantial rise in adoption of such infection control products in developed nations is noteworthy in propelling the market growth.
Region-wise, North America is anticipated to reflect high market attractiveness index for sterilization wrap in the coming years. The region’s lucrativeness is mainly pushed due to increasing use of sterilization wrap in United States and Canada. United States is the main contributor for growth of these products in this region. As per analysis, the sales of sterile wraps in United States are anticipated to cross USD 25 million by end of 2026. This region dominated the market in 2021 and is expected to continue with the status quo by accumulating 38% market share by end of the forecast period. The rising adoption of sterilization wrap in this region is attributed to the increasing number of healthcare facilities in the region and growing awareness regarding infectious diseases coupled with growing concerns with personal hygiene.
Likewise, the sterile wraps market in Asia Pacific is projected to grow with fastest CAGR of 5% during the forecast period. Rising prevalence of chronic diseases and escalation in number of surgeries are the major drivers propelling the demand of sterile wraps in this region.
| Data Points | Key Statistics |
|---|---|
| Expected Market Value in 2023 | US$ 456.13 million |
| Projected Market Value in 2033 | US$ 750 million |
| Growth Rate (2023 to 2033) | 5.1% CAGR |
Latest developments in technology, mergers, acquisitions, tie-ups, and partnerships within the companies involved in manufacturing Sterile wraps are expected to create lucrative opportunities for market growth during the forecast period.
Surgical equipments should be sterilized properly to prevent the spread of diseases in any hospital or medical facility. Sterile wraps are used for wrapping medical equipments for the process of sterilization.
Sterile wraps are not only used as wrappers but also as a protection for medical equipment safety against any particles or liquids against any virus or bacteria. There are two types of sterile wraps available in the market, single-use sterile wrap and reusable sterile wraps.
Single-use sterile wraps can be disposed after a single use while reusable wraps could be sterilized and used over again. Single- use sterile wraps are made from non-woven polymers, tape adhesives and cellulose pulp.
The minimum shelf life of sterile wraps is 5 years when used in ideal conditions like proper temperature and hygienic environment. Sterile wraps are extremely necessary in the medical sector to prevent any germ to further spreading and thus sanitization and hygiene become extremely important factors to stop the infections.
With the rise of Covid- 19, sterile wrap market is expected to increase as there is a high demand for the same from hospitals and medical facilities which are treating the infected patients.
Patient safety is at utmost importance at this time of pandemic and there is a constant need of medical equipments as well. Sterile wraps are a tool to fight against this virus as they allow the sterilized agent to spear in the apparatus and maintain its sterilization before and after usage.
Usually single-usage wraps are used more than reusable wraps as they’re inexpensive and maintain foremost hygiene and are now being adopted by significant number of hospitals and medical centres and is expected to drive the sterile wrap market.Sterile wraps market is mainly influenced by pharmaceutical companies who manufacture it, choice of buyers who are medical practitioners and doctors amongst many others.
Features of sterile wraps like ethylene oxide and steam sterilization methods allow maximum bacterial repel and filtration.Sterile wraps usually consist of five layers and the outermost layers provide maximum strength while other inside layer provides purification from germs and bacteria. The middle layers are laced with plasma and other substances for further blockage of germs.
Plastic and polymer segment in the material segmentation holds the maximum share in the sterile wrap market share.
Due to large spread of corona virus in America, the sterile wraps market has a huge demand in the American market currently. Construction of several quarantine and isolation centres will lead to a huge demand for sterile wraps all over the world. In Europe, improved health safety and awareness towards sterilization will upsurge the sterile wraps market.
Moreover, Asia Pacific region with big players like China and India is ready to adopt more sterile wraps in the medical sector as a safety measure, thus increasing the sterile wraps market.
Middle East and African regions are focused on increasing number of hospitals and surgical procedures which is a positive sign for sterile wraps market.
Some of the key players in the sterile wraps market are
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on sterile wraps market segments and geographies.
Explore Similar Insights
Sterile Wraps Market
Thank you!
You will receive an email from our Business Development Manager. Please be sure to check your SPAM/JUNK folder too.
