ASIA-PACIFIC MEDICAL GRADE PAPER MARKET FORECAST 2023-2032

The Asia-Pacific medical grade paper market growth assessment comprises the analysis of South Korea, Thailand, Indonesia, Vietnam, Australia & New Zealand, China, Japan, India, and Rest of Asia-Pacific. In 2021, the medical device industry in China was worth more than $47 billion. With over 27,000 medical device manufacturing enterprises, the country’s medical equipment sector accounts for the majority of the industrial revenue, followed by high-end-use consumables. Moreover, low-value consumables, as well as IVD, account for around 20% of the overall medical device sector. Since China was the first nation to experience the COVID-19 outbreak, medical device exports in the nation plummeted in the first quarter of the year 2020. However, the market recovered quickly owing to the high domestic demand as well as the swift recovery from the impact of the pandemic on the Chinese industrial sector, compared to other nations globally. 

On the other hand, Japan is primarily impacted by population aging since it has the highest number of elderly people worldwide. Moreover, according to government estimations, as of September 2020, one in every four individuals in the country is aged 65 or older, equating to more than 28% or 36.17 million of Japan’s population. Since the elderly are more susceptible to several chronic conditions, this factor increases the need for medical care and regular examinations, thus propelling the consumption of medical supplies. Therefore, these aspects are set to strengthen the medical grade paper market in the Asia-Pacific during the estimated years. 

The Asia-Pacific medical grade paper market is segmented into type, material, end-user, and application. The end-user segment includes hospitals, diagnostic and research centers, pharmaceutical industry, and other end-users. As one of the main end-users of medical grade paper, the majority of the medical equipment included in the hospitals segment is reasonably priced and readily available. Moreover, the surging geriatric population, leading to a rise in hospital visits, represents an indirect enabler of the expansion of the medical grade paper market. 

Furthermore, single-use medical gadgets are increasingly being used for the prevention as well as transmission of illness among staff members and visitors, thereby propelling the demand for medical grade paper in hospitals.

Some of the major enterprises operating in the Asia-Pacific medical grade paper market are Steril Medipac, Anqing Tianrun Paper Packaging Co Ltd, etc.

Anqing Tianrun Paper Packaging Co Ltd, headquartered in China, is a key enterprise operating in the production, research and development, as well as sale of plastic medical devices packaging. The company’s medical coated paper is utilized in the field of food and medical sterilization packaging.