According to Inkwood Research, the Global Medical Grade Paper Market is expected to develop with a CAGR of 3.98% in terms of revenue during the forecasted years of 2023-2032.
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Medical grade paper entails a material utilized for packaging medical devices. The surging usage of medical grade paper is predominantly attributable to cellulose fibers’ composition, intended to facilitate sterilization agent dispersion. Medical grade paper is mainly used for packaging bandages, catheters, needles, gloves, infusers, gauges, and other medical equipment.
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Need for Convenient & Reliable Medical Device Packaging Fuels Market Growth
The proper packing of medical equipment is essential to ensure product quality. Furthermore, several medical devices, including CT scanners, X-ray machines, surgical robots, ultrasound devices, as well as cardiovascular equipment, are delicate and, therefore, must be packaged correctly for transportation.
Medical grade paper is often made of cellulose owing to its high fiber properties, in addition to microbiological resistance, given its mesh-like structure. Moreover, due to its excellent mechanical strength, cellulose-based medical grade paper is highly resistant to both dry as well as damp environments. Therefore, it can tolerate sterilizing treatments like ethylene oxide, steam, and gamma rays. Hence, the rising demand for reliable and convenient medical device packaging is expected to augment the global medical grade paper market growth over the forecast period.
Pharmaceutical Industry to be the Fastest-Growing End-User
The pharmaceutical industry is one of the most notable contributors to the rapidly-expanding medical grade paper market. In this regard, Kraft and sack paper are frequently used in the manufacture of the final packaging of pharmaceutical items. Moreover, the surging demand for pharmaceutical items, in addition to the growing generic pharmaceuticals industry, is expected to further propel the demand for medical-grade sheets. For instance, while sack paper is extensively utilized in the pharma industry for packaging medications, several chemist shops also offer sack paper as means for medicine packing. Kraft paper is also utilized in medical devices, thus further contributing to the significant growth of the segment.
North America: Highest Revenue-Generating Region by 2032
The rising number of partnerships aimed at the development of innovative packaging technologies is anticipated to fuel the medical grade paper market growth in North America. Moreover, the region’s government also supports the advancement of medical, biotechnology, and pharmaceutical research, set to further benefit the overall market growth.
The global medical paper grade market is highly fragmented, dominated by both smaller companies as well as large players. Some of the key firms operating in the market are Billerud AB, Amcor Plc, Arctic Paper SA, Nelipak Corporation, etc.
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