The hermetic storage bags market is growing significantly due to increasing demand from biological and pharmaceutical applications. Hermetic storage bags offer excellent barrier protection against moisture, oxygen, and other contaminants which helps extend the shelf life of various products like pharmaceuticals, medical devices, research reagents, food items and more.
The Global Hermetic Storage Bags Market is estimated to be valued at US$ 1.22 Billion in 2024 and is expected to exhibit a CAGR of 6.7% over the forecast period 2024 to 2031.
Hermetic storage bags are airtight bags made using multilayer film composites that provide a highly effective barrier against gases, moisture, microbes and other contaminants to protect the contents stored inside. These bags are commonly used for long term storage of pharmaceutical drugs, medical devices, research reagents, food samples and other perishable items to extend their shelf life without refrigeration. The high barrier properties and hermetic sealing mechanism of these bags prevent oxidation, variation in sample properties and microbial contamination.
Key Takeaways
Key players operating in the Hermetic Storage Bags Market Companies are SIGA Technologies Inc., Chimerix, Inc., Bavarian Nordic, Sanofi SA., Emcure Pharma, Jinan Jinda Pharmaceutical Chemistry Co., Ltd.
The growing demand from the pharmaceutical and biotechnology industries for reliable long term storage solutions is a key factor driving the growth of the hermetic storage bags market. Hermetic storage bags help pharmaceutical manufacturers comply with ICH stability testing guidelines and extend the shelf life of drugs without refrigeration.
The major players in the hermetic storage bags market are focusing on expanding their geographical presence in high growth regions. SIGA Technologies recently expanded its marketing authorization of Tecovirimat in copyright. Emerging markets in Asia Pacific and Latin America offer lucrative opportunities for hermetic storage bag manufacturers due to increasing R&D expenditure and improving healthcare infrastructure in these regions.
Market Key Trends
The key gaining traction in the Hermetic Storage Bags Market Growth is the development of novel materials and structures offering enhanced barrier properties. Manufacturers are focused on advancing bag design and materials to provide ultra high moisture and oxygen barrier protection. For example, low density polyethylene inner layers combined with polyester/aluminum foil outer layers provide excellent barrier against gases and extend shelf life up to 10 years at room temperature. Additionally, self-sealing bags with advanced adhesive strips eliminate the need for separate sealing equipment. Rising demand for long term stability studies is expected to drive innovation towards extremely high barrier hermetic storage bags over the forecast period.
Porter's Analysis
Threat of new entrants: Low economies of scale and capital requirements in manufacturing pose low threat of new entrants. However, established brands have strong brand loyalty.
Bargaining power of buyers: Individual buyers have low bargaining power due to cheaper price points of products. Institutional buyers have moderate power due to bulk purchasing.
Bargaining power of suppliers: Dominance of few raw material suppliers results in their high bargaining power over bag manufacturers. Suppliers can charge higher prices for critical materials like polymers and aluminium foils.
Threat of new substitutes: Low as bags made from other materials have limited capabilities to provide oxygen and moisture protection over long durations.
Competitive rivalry: Intense as major players compete based on innovation, quality, and pricing. Brand reputation and global distribution network are the key competitive advantages.
Geographical regions: North America dominates with over 35% market share led by food preservation and pharmaceutical applications in the USA and copyright.
Fastest growing region: Asia Pacific is expected to grow at the fastest CAGR during the forecast period due to rising healthcare and food processing industries in India and China. Increasing per capita income will boost demand for packaged and longer shelf-life products.
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Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc.
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