NEWARK, Del, Dec. 20, 2022 (GLOBE NEWSWIRE) -- Depth filters, syringes, and containers are among the applications that benefit from biopharma plastics' increased stability. The market has grown as a result of an increased demand for using premium polymers in the manufacture of single-use biopharma plastics.
The market for biopharma plastics and polymers is anticipated to be driven by rising healthcare costs and rising health concerns. Additionally, the presence of substantial PP moulding facilities and the manufacturing industry is anticipated to fuel market expansion throughout the anticipated time frame.
The market for biopharma plastics is being driven by industry players who are extensively spending in R&D to create biopharmaceutical goods that cater to all aspects of customer needs. Due to the presence of major producers of biopharma plastics including Celanese Corporation, Eastman Chemical Co., and DuPont in the region, North America dominates the market for these materials. Due mostly to the expanding governmental support and advantageous reimbursement policies for medical equipment, Europe is the second-largest shareholder in the industry.
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Key Takeaways from the Market Study
- As of 2023, the biopharma plastics market was valued at US$ 5.42 Billion
- From 2023 to 2033, the biopharma plastics industry is poised to grow at an 11.4% CAGR
- By 2033, the biopharma plastics market is slated to reach a valuation of US$ 15.95 Billion
- By polymer type, the polyvinyl chloride segment accounted for the largest share of 21.5% and is expected to continue this trend over the forecast period.
- China is poised to yield a CAGR of 11.3% with respect to biopharma plastics in 2033
“Growing healthcare spending and increasing application of biopharma plastics are expected to radically transform the biopharma plastics market in the coming years,” comments an analyst at FMI.
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Competitive Landscape
BASF SE, LyondellBasell Industries Holdings B.V., SABIC, LG chem, Toray Industries, Inc., Solvay, Dow, Inc., DuPont de Nemours, Inc., Saint-Gobain Performance Plastics, Tekni-Plex are some of the key players in the biopharma plastics industry.
The manufacturers are involved in the production of biopharma plastics in a larger capacity. Research and innovation are also conducted to launch innovative plastics for biopharmaceutical products.
Also, some of the key players are acquiring small pharmaceutical companies to increase their production capacity.
- In September 2022 – LyondellBasell announced today that Hanwha Solutions Corporation will use the LyondellBasell Lupotech T high-pressure polyethylene technology at a new site in Yeosu, South Korea. The Lupotech T process technology will be used for a 300 kiloton per year (KTA) vinyl acetate copolymer (EVA) line.
- In July 2022 - DuPont celebrated the opening of its new DuPont™ Liveo™ Healthcare Solutions manufacturing facility located at the Cooper River Site in South Carolina. The new facility will expand capacity for biopharmaceutical tubing extrusion to meet increased demand from Liveo™ customers
- In October 2021 – Tekni-Plex Healthcare has acquired precision extrusion manufacturer Johnson Plastic Group (JPG) as part of a strategy to expand the company’s patient care solutions platform. The acquisition expands Tekni-Plex Healthcare’s medical device capabilities and broadens the division’s global footprint by adding a presence in Mexico.
- In November 2022 - Solvay, a leading supplier of advanced materials, has teamed up with French start-up Ostium in a joint project designed to enable the mechanical recycling of end-of-life single-use surgical instruments molded in glass-fiber reinforced Ixef® polyarylamide (PARA) from Solvay’s portfolio of specialty polymers
Key Segments Covered in the Biopharma Plastics Market Survey
Biopharma Plastics Market by Polymer Type:
- Polyethylene – PE
- Polypropylene – PP
- Acrylonitrile Butadiene Styrene – ABS
- Polyethylene Terephthalate – PET
- Polyvinyl Chloride – PVC
- Polytetrafluoroethylene – PTFE
- Other
Biopharma Plastics Market by Application:
- Protective Wear
- Container
- Bioreactor Bags
- Syringes
- Depth Filter
- Disposable Medical Connectors
- Others
Biopharma Plastics Market by Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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Table of Content:
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
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More Valuable Insights Available
FMI, in its new offering, presents an unbiased analysis of the biopharma plastics market, presenting historical demand data (2018-2022) and forecast statistics for the period of 2023-2033.
The study divulges essential insights on the Biopharma Plastics Market by Polymer Type (Polyethylene – PE, Polypropylene – PP, Acrylonitrile Butadiene Styrene – ABS, Polyethylene Terephthalate – PET, Polyvinyl Chloride – PVC, Polytetrafluoroethylene – PTFE, Other) by Application (Protective wear, Container, Bioreactor Bags, Syringes, Depth Filter, Disposable Medical Connectors, and Others) and Region.
FMI’s Domain Knowledge in Chemicals & Materials
Our chemical & material consulting team guides organizations at each step of their business strategy by helping you understand how the latest influencers account for operational and strategic transformation in the industrial automation sector. Our expertise in recognizing the challenges and trends impacting the global chemical & material industry provides indispensable insights and support - encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.
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About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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