New York, June 11, 2024 (GLOBE NEWSWIRE) -- Overview:
The Global Biopharma Plastics Market reached USD 5,695.3 million in 2023 and is further anticipated to reach USD 18,130.3 million by 2033 according to Dimension Market Research. The market is anticipated to register a CAGR of 12.4% from 2024 to 2033.
Biopharma plastics provide many advantages, making them the ideal option for several healthcare uses. Their low chemical reactivity, high resistivity, & good thermal stability make them the preferred materials for the production of products like containers, syringes, bioreactor bags & disposable connectors.
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PVC is set to dominate the global biopharma plastics market in 2024 due to its versatility, resistance, and ability to withstand various processes without cracking. Its higher usage in manufacturing disposable connectors, syringes, and filters is driven by exceptional resistance, flexibility, and tolerance to higher temperatures.
Moreover, biopharmaceutical plastic polymers gain popularity for providing durable, UV and chemical-resistant surfaces, alongside remarkable oxidation resistance, water repellency, and vapor permeability, ensuring the creation of robust, eco-friendly, and affordable products.
Important Insights
- The Biopharma Plastics Market is expected to grow by USD 18,130.3 million by 2033 from 2025 with a CAGR of 12.4 % during the same forecasted period i.e. 2025 to 2033.
- The PVC (Polyvinyl chloride) segment as s polymer is projected to lead in 2024 with a major & is anticipated to dominate throughout the forecasted period.
- Syringes are anticipated to get the largest revenue share in 2024 in the Biopharma Plastics market.
- Asia Pacific will hold a 31.1% share of revenue in the Global Biopharma Plastics Market in 2024.
Global Biopharma Plastics Market: Trends
- Shift Towards Single-Use Systems: Growing adoption of single-use systems in biopharmaceutical manufacturing for their affordability, flexibility, and reduced contamination risks.
- Demand for Advanced Drug Delivery Systems: Higher demand for advanced drug delivery systems, like prefilled syringes and autoinjectors, driving the development of specialized plastic components with better functionality and patient convenience.
- Focus on Biocompatibility and Safety: Growing focus on the biocompatibility and safety of plastic materials used in biopharmaceutical applications, causing the development of novel polymers and manufacturing processes that meet strict regulatory requirements.
- Integration of Digital Technologies: Integration of digital technologies, like RFID tags and NFC sensors, into plastic packaging and devices for better traceability, authentication, and patient engagement throughout the pharmaceutical supply chain.
Biopharma Plastics Market: Competitive Landscape
In the biopharma plastics market, key players operate along with several regional medium and small companies. Major players continuously innovate polymers to meet the growing healthcare demand. Further, intense competition rises globally, with major companies across various regions engaging in acquisitions, mergers, and collaborations to maintain their competitive edge.
Some of the major players in the market include SABIC, BASF SE, LG Chem, Solvay, Toray Industries, Inc., and more.
Some of the prominent market players:
- SABIC
- BASF SE
- LG Chem
- Solvay
- Toray Industries, Inc.
- Dow, Inc.
- INEOS Group
- Tekni-Plex
- Formosa Plastics Corporation
- Covestro AG
- CHIMEI
- Other Key Players
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Biopharma Plastics Market Scope
| Report Highlights | Details |
| Market Size (2024) | USD 6,420.0 Mn |
| Forecast Value (2033) | USD 18,130.3 Mn |
| CAGR (2024-2033) | 12.4% |
| Leading Region in terms of Revenue Share | Asia Pacific |
| Percentage of Revenue Share by Leading Region | 31.1% |
| Historical Data | 2017 - 2022 |
| Forecast Data | 2025 – 2033 |
| Base Year | 2023 |
| Estimate Year | 2024 |
| Segments Covered | By Polymer Type, By Application |
| Regional Coverage | North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
Regional Analysis
The Asia Pacific region is projected to emerge as the primary hub for the biopharma plastics market in 2024, capturing an estimated 31.1% of total revenue. China leads this growth, driven by higher demand for superior biopharma plastic equipment and components from hospitals across growing economies like India, China, and Japan, fueled by population growth and higher healthcare spending.
Moreover, North America, mainly the United States, is expected for substantial revenue growth, supported by its advanced medical sector and the presence of key biopharma plastic manufacturers like Eastman Chemical Co., Celanese Corporation, and DuPont.
By Region
North America
- The U.S.
- Canada
Europe
- Germany
- The U.K.
- France
- Italy
- Russia
- Spain
- Benelux
- Nordic
- Rest of Europe
Asia-Pacific
- China
- Japan
- South Korea
- India
- ANZ
- ASEAN
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of Latin America
Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Egypt
- Rest of MEA
Segment Analysis:
Syringes are expected to dominate the biopharma plastics market in 2024, capturing the largest share. The prefilled syringes segment is expected to experience major growth due to factors like affordability, convenience, lesser injection errors, lower microbial contamination, and dilution errors, driving higher demand, which is due to the adoption of advanced healthcare technologies, growth in the production of large molecules, and major healthcare spending. Single-use biopharma plastic syringes provide ease of use and convenience, improving their popularity.
Also, well-established healthcare infrastructure across the world contributes to the higher demand for these devices, further driving the need for biopharma plastics used in their manufacturing. The constant rise in demand for prefilled syringes, due to their convenience and affordability, is expected to positively impact the syringes segment in the biopharma plastics market.
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Biopharma Plastics Market Segmentation
By Polymer Type
- Polyethylene (PE)
- Polypropylene (PP)
- Polyethylene Terephthalate (PET)
- Polyvinyl Chloride (PVC)
- Acrylonitrile Butadiene Styrene (ABS)
- Polycarbonate (PC)
- Others
By Application
- Containers
- Bioreactor Bags
- Protective Wear
- Depth Filters
- Syringes
- Disposable Medical Connectors
- Others
Global Biopharma Plastics Market: Driver
- Increasing Demand for Biologics: The rising need for biologic drugs and therapies requires specialized plastic packaging and components for storage and delivery.
- Technological Advancements: Innovations in polymer science & manufacturing processes cause the development of advanced biocompatible plastics customized for biopharmaceutical applications, improving safety & efficacy.
- Regulatory Compliance: Strict regulations & quality standards drive the adoption of specialized plastic materials that meet the strict demands for drug packaging, storage, and administration in the biopharma industry.
- Shift towards Single-Use Systems: The increase in preference for single-use systems in biopharmaceutical manufacturing reduces contamination risks & operational costs, boosting the demand for disposable plastic components and equipment.
Global Biopharma Plastics Market: Restraints
- Environmental Concerns: A rise in awareness of plastic pollution & environmental sustainability issues causes scrutiny of plastic usage in the biopharma industry, creating potential regulatory restrictions and consumer preferences for eco-friendly alternatives.
- Material Compatibility: Challenges regarding the compatibility of certain plastic materials with biopharmaceutical formulations, potentially causing issues over leaching, chemical interactions, or degradation that could compromise drug safety and efficacy.
- Cost Pressures: Biopharmaceutical companies face cost pressures, and the higher costs associated with specialized biocompatible plastics can impact profitability, mainly for smaller players or in markets with strict pricing regulations.
- Supply Chain Disruptions: Vulnerabilities in the global supply chain, like disruptions in raw material sourcing, manufacturing, or distribution, can impact the availability and cost of biopharma plastics, potentially creating delays or shortages in production.
Global Biopharma Plastics Market: Opportunities
- Innovation in Sustainable Materials: Opportunities exist for the development of eco-friendly biodegradable or recyclable plastics suitable for biopharmaceutical applications, aligning with the industry's growth in focus on sustainability.
- Personalized Medicine: Developments in 3D printing and microfluidic technologies provide opportunities for the customization of plastic components for personalized drug delivery systems, catering to the increase in the trend toward precision medicine.
- Emerging Markets: Growing opportunities in emerging markets where increased healthcare spending, increase in populations, and rising demand for biopharmaceuticals develop a favorable environment for the adoption of specialized plastic packaging and delivery systems.
- Digital Integration: The integration of smart sensors and digital technologies into plastic packaging and devices provides opportunities for better drug tracking, patient monitoring, and adherence, improving the value proposition of biopharma plastics in the era of digital health.
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Recent Developments in the Biopharma Plastics Market
- May 2024: ETERNAL and its affiliated projects ENVIROMED, IMPACTIVE, SusPharma, and TransPharm together created a Green Pharma Horizon Projects Cluster, focusing on improving pharmaceutical sustainability and using research synergies for greater innovation impact.
- January 2024: Bormioli Pharma and Loop Industries, Inc. unveiled that an innovative pharmaceutical packaging bottle manufactured with a fully recycled virgin quality Loop PET resin will be launched within the Bormioli booth at Pharmapack Europe 2024.
- August 2023: AIMPLAS, the Plastics Technology Centre, contributes to the BioICEP project, aiming to create eco-friendly alternatives to petroleum-based plastics using a cascade process, suitable for packaging and pharmaceutical applications.
- May 2023: DuPont unveiled its definitive agreement to acquire Spectrum Plastics Group from AEA Investors, with the purchase price to be paid from existing cash reserves., and is anticipated to close by Q3 2023, pending regulatory approvals..
- March 2023: DuPont announced its to acquire Spectrum Plastics Group from AEA Investors, with the purchase price to be funded from existing cash reserves, pending regulatory approvals. Closing is expected by Q3 2023.
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