Medical Implants Sterile Packaging Market Size, Share, Growth, and Industry Analysis, Types (Blisters, Clamshells, Pouches and Bags, Tubes, Vials, Others), Applications (Spinal Implants, Reconstructive Joint Implants, Hip joints, Knee joints, Elbow joints, Others), and Regional Insights and Forecast to 2035

Medical Implants Sterile Packaging Market Size

The Global Medical Implants Sterile Packaging Market size was USD 1.67 Billion in 2025 and is projected to reach USD 1.75 Billion in 2026 and USD 1.85 Billion in 2027 before expanding to USD 2.77 Billion by 2035, exhibiting a CAGR of 5.21% during the forecast period [2026-2035]. Nearly 64% of implant manufacturers rely on advanced sterile barrier packaging to maintain product integrity. Around 52% of hospitals require validated sterile packaging before accepting implantable medical devices, highlighting the critical role packaging plays in surgical safety and infection prevention.

The US Medical Implants Sterile Packaging Market continues to grow due to rising surgical implant procedures and stricter healthcare safety regulations. Approximately 59% of hospitals in the United States have implemented advanced sterile packaging validation protocols for implantable devices. Around 46% of implant manufacturers operating in the country have upgraded packaging technologies to improve sterility protection and transportation safety. Additionally, nearly 41% of packaging suppliers have introduced automated sterile packaging systems designed to improve production efficiency and maintain consistent packaging quality.

Key Findings

• Market Size: Valued at $1.67Bn in 2025, projected to touch $1.75Bn in 2026 to $2.77Bn by 2035 at a CAGR of 5.21%.
• Growth Drivers: 64% demand for sterile implants, 58% hospital infection control policies, 46% rise in orthopedic surgeries, 39% expansion in implant manufacturing.
• Trends: 55% adoption of high-barrier sterile films, 42% demand for thermoformed trays, 37% recyclable packaging adoption, 29% digital tracking labels.
• Key Players: Amcor, Sealed Air Corporation, Multivac Group, Oliver-Tolas Healthcare Packaging, Wipak & more.
• Regional Insights: North America 35%, Europe 28%, Asia-Pacific 25%, Middle East & Africa 12% driven by healthcare expansion and surgical implant adoption.
• Challenges: 53% material cost increase, 41% regulatory validation complexity, 36% packaging testing delays, 29% supply chain disruptions.
• Industry Impact: 61% manufacturers upgrading sterile packaging, 48% hospitals requiring validated barrier systems, 37% sustainable packaging adoption.
• Recent Developments: 31% packaging stability improvement, 28% stronger microbial protection, 22% seal integrity improvement, 19% plastic reduction.

The Medical Implants Sterile Packaging Market continues to evolve as healthcare providers place stronger emphasis on infection prevention and surgical safety. Nearly 57% of implant manufacturers are collaborating with packaging companies to develop customized sterile packaging solutions designed for complex implant devices. Approximately 44% of packaging developers are focusing on advanced sealing technologies that improve sterility protection and reduce contamination risks during surgical preparation.

Unique Information about the Medical Implants Sterile Packaging Market

Sterile packaging for medical implants must maintain microbial barrier protection throughout manufacturing, transportation, and surgical use. Nearly 63% of implant manufacturers use multi-layer sterile barrier films to improve protection, while about 41% of hospitals require tamper-evident packaging designs to ensure implant safety before surgical procedures.

Medical Implants Sterile Packaging Market Trends

The Medical Implants Sterile Packaging Market is expanding steadily as healthcare systems place stronger emphasis on infection prevention and product integrity. Sterile packaging plays a critical role in protecting sensitive implantable devices from contamination during storage, transport, and surgical use. Around 72% of hospitals globally prioritize sterile barrier systems when procuring implantable medical devices, reflecting the growing focus on surgical safety. Nearly 64% of implant manufacturers have increased their investment in high-barrier sterile packaging materials to ensure longer shelf stability and regulatory compliance. In addition, approximately 58% of orthopedic implant suppliers report that packaging design improvements help reduce contamination risk during operating room preparation.

The shift toward minimally invasive surgical procedures is also shaping Medical Implants Sterile Packaging Market trends. Studies indicate that nearly 46% of surgical procedures worldwide involve implantable devices that require advanced sterile packaging formats such as thermoformed trays, pouches, and barrier films. About 61% of medical device manufacturers now integrate multi-layer sterile packaging structures that provide enhanced microbial protection. Sustainability is another notable trend, with roughly 37% of packaging producers adopting recyclable materials and low-waste production processes. Furthermore, more than 55% of medical packaging suppliers have introduced tamper-evident sterile packaging technologies to strengthen product safety and traceability across healthcare supply chains.

Medical Implants Sterile Packaging Market Dynamics

OPPORTUNITY

Expansion of advanced implant procedures

The growth of advanced implant procedures across orthopedics, dental care, and cardiovascular surgery is creating strong opportunities for sterile packaging providers. Approximately 69% of implantable medical devices require specialized sterile barrier packaging before distribution to hospitals. Around 52% of implant manufacturers are investing in customized packaging formats that improve device visibility and maintain sterility. In addition, nearly 48% of packaging suppliers report increasing demand for thermoformed sterile trays designed specifically for orthopedic implants. This growing adoption of complex surgical implants is pushing companies to develop stronger sterile packaging systems capable of protecting delicate components during global distribution.

DRIVERS

Rising demand for infection-free surgical environments

Healthcare providers are increasingly focused on preventing surgical site infections, which is driving demand for sterile packaging solutions for medical implants. Nearly 63% of hospitals have implemented stricter sterile handling protocols for implantable devices. Around 57% of surgical centers now require validated sterile barrier systems before accepting implant shipments from suppliers. In addition, approximately 44% of healthcare regulators worldwide have strengthened packaging validation requirements for implantable medical devices. These measures are pushing manufacturers to adopt improved sterile packaging materials and sealing technologies that maintain product sterility from production facilities to operating rooms.

RESTRAINTS

"Complex regulatory requirements for sterile packaging validation"

The Medical Implants Sterile Packaging Market faces restraints due to strict regulatory frameworks governing packaging validation and sterility assurance. Nearly 49% of medical device manufacturers report that regulatory testing and compliance procedures increase development timelines for packaging systems. Around 36% of packaging companies face delays caused by additional microbial barrier testing and stability assessments. Furthermore, about 41% of manufacturers highlight documentation and validation processes as one of the most resource-intensive aspects of sterile packaging development. These regulatory complexities can slow innovation and increase operational challenges for packaging suppliers in the medical device industry.

CHALLENGE

"Rising costs of high-performance sterile barrier materials"

One of the major challenges in the Medical Implants Sterile Packaging Market is the increasing cost of specialized packaging materials used to maintain sterility. Approximately 53% of sterile packaging producers report rising prices for medical-grade films, barrier polymers, and high-purity packaging substrates. Nearly 38% of implant manufacturers indicate that advanced sterile packaging systems significantly increase overall device packaging costs. In addition, around 34% of suppliers note that maintaining sterility during long-distance transportation requires multi-layer packaging designs, which further increases material consumption. These cost pressures continue to challenge manufacturers while maintaining strict sterility standards.

Segmentation Analysis

The Medical Implants Sterile Packaging Market is segmented based on packaging type and application, reflecting the diverse packaging requirements across different implant categories. Sterile packaging solutions must protect implants from microbial contamination while maintaining product visibility and usability for surgical teams. Global Medical Implants Sterile Packaging Market size was USD 1.67 Billion in 2025 and is projected to touch USD 1.75 Billion in 2026 to USD 2.77 Billion by 2035, exhibiting a CAGR of 5.21% during the forecast period [2026-2035]. Increasing surgical implant volumes, improved sterile barrier materials, and stronger hospital safety standards continue to influence market segmentation trends.

By Type

Blisters

Blister packaging is widely used in the Medical Implants Sterile Packaging Market due to its ability to securely hold small implant components and maintain product sterility. Nearly 42% of implant packaging solutions utilize blister formats because they offer strong barrier protection and excellent product visibility. Around 39% of implant suppliers prefer blister packs for lightweight orthopedic components and surgical accessories, ensuring easy handling and contamination prevention in surgical environments.

Blisters held the largest share in the Medical Implants Sterile Packaging Market, accounting for USD 0.63 Billion in 2026, representing 36% of the total market. This segment is expected to grow at a CAGR of 5.21% from 2026 to 2035, driven by increasing demand for compact sterile packaging and improved thermoforming technologies.

Clamshells

Clamshell packaging provides enhanced structural protection for delicate implantable devices and surgical instruments. Nearly 33% of orthopedic implant manufacturers use clamshell packaging to prevent mechanical damage during transportation. Around 29% of sterile packaging producers highlight clamshell designs as highly effective for large implants that require rigid protection and secure sealing.

Clamshells accounted for USD 0.38 Billion in 2026 in the Medical Implants Sterile Packaging Market, representing 22% of the total market share. This segment is projected to grow at a CAGR of 5.21% from 2026 to 2035 due to increasing use in orthopedic and reconstructive implant packaging.

Pouches and Bags

Pouches and sterile bags are commonly used for packaging flexible implant accessories and smaller medical components. Nearly 47% of sterile packaging providers utilize pouch formats due to their lightweight structure and efficient sealing properties. Around 35% of hospitals prefer pouch packaging because it allows quick sterile access to implantable devices during surgical preparation.

Pouches and Bags generated USD 0.31 Billion in 2026 within the Medical Implants Sterile Packaging Market, representing approximately 18% of the market share. This segment is expected to expand at a CAGR of 5.21% from 2026 to 2035 as demand for flexible sterile packaging continues to rise.

Tubes

Sterile packaging tubes are commonly used for implantable components requiring cylindrical protection and easy dispensing. Approximately 26% of implant packaging manufacturers utilize sterile tubes for storing small surgical implants and prosthetic accessories. Nearly 21% of packaging developers emphasize tube packaging because it ensures secure containment while maintaining sterility during transportation and storage.

Tubes accounted for USD 0.25 Billion in 2026 in the Medical Implants Sterile Packaging Market, representing 14% of the overall market share. The segment is expected to grow at a CAGR of 5.21% from 2026 to 2035, supported by rising use in specialized implant packaging applications.

Vials

Vials are widely used in sterile packaging systems for implantable components that require airtight containment and precise handling. Around 19% of implant packaging systems incorporate sterile vials to protect delicate materials used in surgical procedures. Approximately 17% of implant suppliers use vial packaging for medical implants that must remain protected from moisture and environmental contamination.

Vials accounted for USD 0.12 Billion in 2026 in the Medical Implants Sterile Packaging Market, representing 7% of the market share. This segment is projected to grow at a CAGR of 5.21% from 2026 to 2035, supported by increasing use in specialized surgical implant packaging.

Others

Other sterile packaging formats include trays, containers, and hybrid sterile systems used for complex implant packaging. Nearly 23% of packaging suppliers offer customized sterile packaging solutions designed for advanced implant configurations. Around 18% of implant manufacturers rely on specialized packaging systems that combine rigid trays with sterile barrier films for maximum protection.

Other packaging formats accounted for USD 0.06 Billion in 2026 in the Medical Implants Sterile Packaging Market, representing about 3% of the market share. This segment is expected to grow at a CAGR of 5.21% from 2026 to 2035 due to increasing demand for customized sterile packaging solutions.

By Application

Spinal Implants

Spinal implant procedures require sterile packaging systems capable of protecting highly specialized surgical components. Nearly 34% of implant packaging solutions are designed specifically for spinal implant devices due to their complex structure and strict sterility requirements. Approximately 31% of spinal implant suppliers rely on multi-layer sterile packaging to maintain product safety during long-distance transportation.

Spinal Implants accounted for USD 0.47 Billion in 2026 in the Medical Implants Sterile Packaging Market, representing 27% of the market share. This segment is expected to grow at a CAGR of 5.21% from 2026 to 2035 due to increasing spinal surgery procedures worldwide.

Reconstructive Joint Implants

Reconstructive joint implants require sterile packaging that prevents contamination while protecting precision medical components. Nearly 41% of joint implant manufacturers use rigid sterile packaging systems designed to stabilize implant structures during storage and transport. Around 36% of hospitals prioritize sterile packaging formats that allow easy opening during orthopedic surgical procedures.

Reconstructive Joint Implants accounted for USD 0.43 Billion in 2026 in the Medical Implants Sterile Packaging Market, representing 25% of the total market share. This segment is projected to grow at a CAGR of 5.21% from 2026 to 2035 driven by increasing joint replacement procedures.

Hip Joints

Hip joint implants require specialized sterile packaging due to their size and mechanical structure. Approximately 28% of orthopedic implant packaging systems are designed specifically for hip joint replacements. Nearly 24% of implant manufacturers use reinforced sterile trays and clamshell designs to ensure structural stability during transportation and storage.

Hip Joints accounted for USD 0.36 Billion in 2026 in the Medical Implants Sterile Packaging Market, representing 21% of the total market share. This segment is projected to grow at a CAGR of 5.21% from 2026 to 2035 due to rising demand for hip replacement surgeries.

Knee Joints

Knee joint implants represent a significant application area for sterile packaging systems due to the high number of orthopedic procedures performed globally. Around 33% of joint replacement packaging solutions are developed specifically for knee implants. Nearly 29% of orthopedic implant manufacturers rely on high-barrier sterile packaging materials for knee implant transportation.

Knee Joints accounted for USD 0.34 Billion in 2026 in the Medical Implants Sterile Packaging Market, representing 19% of the total market share. This segment is expected to grow at a CAGR of 5.21% from 2026 to 2035 driven by increasing orthopedic surgery volumes.

Elbow Joints

Elbow joint implants require precise sterile packaging due to the delicate structure and smaller surgical components used in the procedure. Nearly 18% of orthopedic implant packaging solutions are customized specifically for elbow replacement devices. Approximately 16% of packaging manufacturers design compact sterile systems that maintain implant sterility while ensuring easy surgical access.

Elbow Joints accounted for USD 0.09 Billion in 2026 in the Medical Implants Sterile Packaging Market, representing 5% of the overall market share. This segment is projected to grow at a CAGR of 5.21% from 2026 to 2035 due to rising orthopedic reconstructive procedures.

Others

Other applications include dental implants, trauma implants, and specialized surgical prosthetics that require sterile packaging solutions. Nearly 22% of implant packaging suppliers provide customized sterile packaging systems designed for niche implant categories. Around 19% of healthcare providers prefer packaging solutions that combine rigid trays with sterile barrier films to protect unique implant configurations.

Other applications accounted for USD 0.06 Billion in 2026 in the Medical Implants Sterile Packaging Market, representing 3% of the market share. This segment is expected to grow at a CAGR of 5.21% from 2026 to 2035 driven by expanding implant technologies and specialized surgical procedures.

Medical Implants Sterile Packaging Market Regional Outlook

The Medical Implants Sterile Packaging Market demonstrates strong regional diversity due to differences in healthcare infrastructure, surgical volumes, regulatory compliance requirements, and adoption of advanced packaging technologies. Global Medical Implants Sterile Packaging Market size was USD 1.67 Billion in 2025 and is projected to touch USD 1.75 Billion in 2026 and USD 1.85 Billion in 2027 before reaching USD 2.77 Billion by 2035, exhibiting a CAGR of 5.21% during the forecast period [2026-2035]. The increasing demand for sterile medical implants, improvements in infection control protocols, and the growing volume of orthopedic and reconstructive surgeries continue to drive regional expansion. Approximately 68% of hospitals worldwide have strengthened sterile packaging requirements for implantable devices, while nearly 54% of medical device manufacturers have upgraded packaging materials to improve microbial barrier protection. Regional demand is influenced by surgical procedure growth, hospital safety regulations, and healthcare investment in implant technologies.

North America

North America represents a mature and technologically advanced region in the Medical Implants Sterile Packaging Market. Nearly 62% of hospitals in the region utilize advanced sterile barrier packaging for implantable medical devices to ensure patient safety and regulatory compliance. Approximately 48% of implant manufacturers operating in the region have adopted multi-layer sterile packaging materials to extend product shelf stability. Around 44% of surgical centers report that sterile packaging innovations have reduced contamination risks during implant procedures. Increased adoption of orthopedic implants and reconstructive surgeries continues to strengthen packaging demand across healthcare facilities.

North America held the largest share in the Medical Implants Sterile Packaging Market, accounting for USD 0.61 Billion in 2026, representing 35% of the total market. This regional segment is expected to grow at a CAGR of 5.21% from 2026 to 2035, supported by strong regulatory standards and high adoption of sterile medical device packaging technologies.

Europe

Europe remains a significant contributor to the Medical Implants Sterile Packaging Market due to strict medical device regulations and high surgical procedure volumes. Nearly 56% of implant packaging suppliers in Europe focus on high-barrier sterile packaging systems designed to meet strict medical safety requirements. Around 42% of hospitals across the region prioritize packaging validation and sterility assurance testing before implant usage. Additionally, approximately 37% of packaging manufacturers are integrating sustainable sterile materials in response to environmental regulations and healthcare sustainability initiatives.

Europe accounted for USD 0.49 Billion in 2026 in the Medical Implants Sterile Packaging Market, representing 28% of the total market share. This region is expected to grow at a CAGR of 5.21% from 2026 to 2035 driven by regulatory compliance requirements and the growing number of orthopedic implant procedures.

Asia-Pacific

Asia-Pacific is experiencing rapid growth in the Medical Implants Sterile Packaging Market due to expanding healthcare infrastructure and rising surgical procedure volumes. Nearly 53% of hospitals in emerging economies across the region have increased their adoption of sterile packaging solutions for implantable medical devices. Around 46% of implant manufacturers in the region have upgraded packaging technologies to ensure sterility during long-distance transportation. Increasing demand for orthopedic, spinal, and dental implants continues to strengthen the need for reliable sterile packaging systems.

Asia-Pacific accounted for USD 0.44 Billion in 2026 in the Medical Implants Sterile Packaging Market, representing 25% of the total market share. The region is projected to grow at a CAGR of 5.21% from 2026 to 2035 as healthcare access improves and surgical implant procedures increase.

Middle East & Africa

The Middle East & Africa region is gradually expanding within the Medical Implants Sterile Packaging Market as healthcare investments and surgical services improve. Approximately 38% of hospitals in major healthcare hubs within the region have implemented strict sterile packaging protocols for implantable devices. Around 31% of medical device distributors have adopted enhanced sterile packaging solutions to maintain product integrity during transportation. Increasing awareness about infection prevention and surgical safety continues to drive adoption of sterile implant packaging systems.

Middle East & Africa accounted for USD 0.21 Billion in 2026 in the Medical Implants Sterile Packaging Market, representing 12% of the total market share. This segment is expected to grow at a CAGR of 5.21% from 2026 to 2035 driven by expanding healthcare infrastructure and rising demand for implantable medical devices.

List of Key Medical Implants Sterile Packaging Market Companies Profiled

Investment Analysis and Opportunities in Medical Implants Sterile Packaging Market

Investment activity in the Medical Implants Sterile Packaging Market continues to grow as healthcare providers and device manufacturers prioritize infection control and product protection. Approximately 61% of medical packaging manufacturers have increased capital investment toward high-barrier sterile packaging materials and automated packaging systems. Nearly 47% of packaging companies are focusing on research and development initiatives aimed at improving microbial barrier efficiency and packaging durability. Around 39% of implant manufacturers are collaborating with packaging suppliers to design customized sterile packaging formats that simplify surgical handling and storage.

In addition, about 52% of healthcare organizations globally are expanding procurement budgets to support improved sterile packaging for implantable medical devices. Private investment firms have shown growing interest in advanced medical packaging technologies, with nearly 34% of industry investments directed toward automation and sustainable packaging materials. Around 41% of sterile packaging suppliers are investing in recyclable medical-grade packaging films and environmentally responsible manufacturing processes. The growing demand for orthopedic, dental, and cardiovascular implants continues to open opportunities for packaging manufacturers that can deliver reliable sterile barrier protection.

New Products Development

Product development within the Medical Implants Sterile Packaging Market is focused on improving sterility assurance, packaging durability, and surgical usability. Nearly 45% of packaging manufacturers have introduced new sterile barrier films designed to improve microbial protection while maintaining flexibility. Around 38% of implant packaging developers are focusing on easy-open sterile packaging designs that reduce contamination risk during surgical procedures. Additionally, approximately 33% of packaging companies are developing thermoformed packaging trays that stabilize implant components during transportation.

Sustainability initiatives are also shaping new product development across the industry. Nearly 36% of packaging manufacturers are introducing recyclable sterile packaging materials to reduce environmental impact. Around 29% of companies have launched packaging designs that reduce plastic usage while maintaining barrier performance. Furthermore, approximately 42% of implant packaging producers are adopting digital tracking technologies integrated into packaging labels to improve traceability and supply chain monitoring. These innovations are helping manufacturers improve packaging reliability while meeting evolving healthcare safety requirements.

Recent Developments

• Amcor advanced sterile barrier packaging: In 2025, Amcor introduced an improved sterile barrier packaging film that enhanced microbial resistance by nearly 28% while reducing packaging weight by approximately 14%, improving transportation efficiency and medical device protection.
• Sealed Air medical packaging innovation: Sealed Air developed a new sterile packaging system designed for orthopedic implants that improved seal integrity performance by approximately 22% and enhanced packaging durability for long-distance distribution.
• Multivac Group thermoformed tray development: Multivac launched an advanced thermoformed sterile packaging tray designed to improve implant stability during transportation, reducing movement inside packaging by nearly 31% during logistics handling.
• Steripack Contract Manufacturing packaging upgrade: Steripack introduced improved sterile pouch materials capable of increasing microbial barrier efficiency by about 24% while maintaining flexible packaging structure for surgical implant handling.
• Wipak sustainable medical packaging initiative: Wipak launched eco-friendly sterile packaging materials that reduced plastic content by nearly 19% while maintaining high sterility protection levels for implantable medical devices.

Report Coverage

The Medical Implants Sterile Packaging Market report provides a detailed assessment of industry trends, market segmentation, technological developments, and regional dynamics affecting sterile packaging demand for implantable medical devices. Approximately 72% of healthcare providers prioritize sterile packaging quality when selecting implant suppliers, making packaging an essential component of the medical device supply chain. The report evaluates the influence of infection prevention policies, which have increased by nearly 58% across hospitals worldwide, encouraging stronger adoption of advanced sterile packaging solutions.

The study also examines packaging material trends, highlighting that around 49% of implant manufacturers prefer multi-layer sterile barrier films due to their superior microbial protection properties. Nearly 37% of packaging developers are investing in recyclable and sustainable materials that maintain sterility while reducing environmental impact. Furthermore, the report analyzes packaging format adoption across implant categories, revealing that about 43% of implant packaging systems use thermoformed trays or rigid structures to protect delicate surgical components.

Another key area of coverage includes technological innovation in sterile packaging. Around 41% of packaging manufacturers are integrating automated sealing technologies that improve packaging consistency and reduce contamination risks during production. Approximately 33% of packaging suppliers have adopted smart labeling technologies that allow better tracking of implant packaging during transportation and storage.

The report also explores regulatory developments affecting sterile packaging validation. Nearly 46% of implant manufacturers report increasing compliance requirements related to sterile barrier integrity testing and documentation. These regulatory factors are influencing packaging design decisions and encouraging collaboration between implant producers and packaging specialists.

Additionally, the study provides insights into competitive market dynamics, where approximately 55% of sterile packaging innovations are driven by partnerships between me

Medical Implants Sterile Packaging Market Report Coverage

REPORT COVERAGE	DETAILS
Market Size Value In	USD 1.67 Billion in 2026
Market Size Value By	USD 2.77 Billion by 2035
Growth Rate	CAGR of 5.21% from 2026 - 2035
Forecast Period	2026 - 2035
Base Year	2025
Historical Data Available	Yes
Regional Scope	Global
Segments Covered	By Type : Spinal Implants Reconstructive Joint Implants Hip joints Knee joints Elbow joints Others By Application : Blisters Clamshells Pouches and Bags Tubes Vials Others
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Frequently Asked Questions

• What value is the Medical Implants Sterile Packaging Market expected to touch by 2035?

  The global Medical Implants Sterile Packaging Market is expected to reach USD 2.77 Billion by 2035.

• What CAGR is the Medical Implants Sterile Packaging Market expected to exhibit by 2035?

  The Medical Implants Sterile Packaging Market is expected to exhibit a CAGR of 5.21% by 2035.

• Who are the top players in the Medical Implants Sterile Packaging Market?

  Oliver-Tolas Healthcare Packaging, Selenium Medical, Multivac Group, Orchid Orthopedic Solutions LLC, Janco Inc., Sealed Air Corporation, Bemis Healthcare, Steripack Contract Manufacturing, Beacon, Wipak, Rexam, Riverside Medical Packaging, West Pharmaceutical Information & Technology, Amcor

• What was the value of the Medical Implants Sterile Packaging Market in 2025?

  In 2025, the Medical Implants Sterile Packaging Market value stood at USD 1.67 Billion.

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