Biopharma Plastics Market to be Dominated by Healthcare Sector through 2028
Rising demand from the Healthcare sector is
expected to drive the Biopharma Plastics market in the forecast period
2024-2028
According to TechSci Research report, “Biopharma Plastics
Market - Global Industry Size, Share, Trends, Opportunity, and Forecast,
2018-2028”, Global
Biopharma Plastics Market is anticipated to upsurge at an impressive rate in
the forecast period 2024-2028. A significant factor
fueling the growth of the Global Biopharma Plastics Market is due to increasing cases of cancer worldwide and
growing in global healthcare expenditure. In addition, rising manufacturing of
big molecules, expanding investment in the construction of advanced healthcare
facilities, and rising usage of modern healthcare technologies further fuel the
growth of Global Biopharma Plastics market.
For instance, in 2021, the
acquisition of Johnson Plastic Group (JPG), a maker of precision extrusions, by
Tekni-Plex Healthcare is a part of a plan to broaden the company's patient care
solutions platform.
Furthermore, the market is being further
stimulated by growing demand for single use products for pharmaceuticals
processing.
However, fluctuation in raw
material prices can slow down the market growth. Also, stringent government
regulations can further slowdown the market growth.
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Global Biopharma Plastics Market is segmented based on polymer type, application,
and region.
Based on polymer type, the
market is categorized into polyvinyl chloride (PVC), polyethylene terephthalate
(PET), polypropylene (PP), and others. The
polyvinyl Chloride (PVC)
segment is expected to hold the largest market share in the forecast period,
2024-2028. This is due to its unique properties such as extreme flexibility,
resistance, and endurance in high temperatures.
Based
on application, the market is fragmented into protective wear, containers, bioreactor bags, syringes, and
others. The Syringes
segment is expected to hold the largest market share in the forecast period,
2024-2028. This is due to easy usage, low costs, minimal microbial
contamination, low injection errors, and dilution errors.
Major companies operating
in the global Biopharma Plastics market are:
- BASF SE
- Spectrum
Plastics Group
- Celanese
Corporation
- LyondellBasell
Industries Holdings B.V.
- DuPont de
Nemours, Inc.
- Tekni-Plex,
Inc.
- Solvay S.A.
- Avantor,
Inc.
- Bormioli
Pharma S.p.A.
- Saudi Basic
Industries Corporation
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“Asia Pacific region is expected to grow at the highest rate during the
forecast period due to increasing demand for high-quality biopharma plastic components
and devices from hospitals as well as rising expenditure on healthcare sector. Additionally,
growing government spending on healthcare policies and technology advancement
in healthcare infrastructure create lucrative opportunities for the market
growth. Furthermore, in North America, presence of key producers of biopharma
plastics as well as increase in number of healthcare facilities create huge
prospects of market growth during the forecast period,” said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based global management consulting
firm.
“Biopharma
Plastics Market - Global Industry Size, Share, Trends, Opportunity, and
Forecast, 2018-2028 Segmented By Polymer Type (Polyvinyl Chloride (PVC),
Polyethylene Terephthalate (PET), Polypropylene (PP), Others), By Application
(Protective Wear, Containers, Bioreactor Bags, Syringes, Others), By Region and
Competition, has evaluated the future growth
potential of Global Biopharma Plastics Market and provides statistics &
information on market size, structure, and future market growth. The report
intends to provide cutting-edge market intelligence and help decision-makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and opportunities
in the Global Biopharma Plastics Market.”
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