The global biopharma plastics market is poised for significant growth, projected to reach a value of US$ 5.42 Billion by 2023, with an anticipated expansion at a CAGR of 11.4% until 2033. This surge is largely attributed to technological advancements in hunting equipment, which are expected to drive market momentum to reach an impressive US$ 15.95 Billion by 2033.
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 biopharma plastics market 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.
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
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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
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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