The global biopharma plastics market size is expected to reach USD 11,290.12 million by 2030, expanding at 11.3% CAGR from 2023 to 2030, according to a new study by Grand View Research, Inc. The rise in global healthcare expenditure for research & development of biopharma plastics is anticipated to drive the market. In addition, the rising demand for biopharmaceuticals, owing to the increasing cases of cancerous patients across the globe, is anticipated to propel the demand for biopharma plastics.
Plastics are widely used in this industry due to their versatility, durability, and cost-effectiveness. The use of plastics in biopharma applications includes packaging and delivery systems, laboratory equipment, diagnostic devices, and drug delivery devices.
The global biopharma plastics industry is expected to experience significant growth in the coming years. This growth is driven by factors such as the increasing demand for biopharmaceuticals, the growing prevalence of chronic diseases, and the rise in healthcare expenditure. Additionally, the need for more advanced and innovative packaging and delivery systems for biopharmaceuticals is also expected to drive market growth.
Moreover, the biopharma industry is increasingly focused on sustainability and reducing its environmental footprint. This has led to a growing demand for biodegradable and recyclable plastics that can be used in biopharma applications. Companies are investing in research and development to create more sustainable plastics that meet the needs of the biopharma industry.
The biopharma industry is characterized by a high level of research and development activity, as companies invest in developing new drugs and delivery systems. This is driving demand for specialized biopharma plastics that can support this research and development, such as laboratory equipment and diagnostic devices.
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Asia Pacific accounted for the largest revenue share of 30.67% of the global biopharma plastics industry in 2022 and is expected to continue its dominance over the forecast period. This can be attributed to the increasing R&D and rising demand for high-quality biopharma plastic devices and components from the oncology industry across the region
Based on application segmentation, syringes accounted for a maximum share of 20.55% in 2022 and are likely to remain dominant over the forecast period. This is attributed to its compatibility with a wide range of biopharmaceutical products, including vaccines, antibiotics, insulin, and other injectable drugs. Moreover, the increasing demand for prefilled syringes to enhance surgical procedures is likely to boost the demand for biopharma plastics for manufacturing syringes
In the polymer type segmentation, polyvinyl chloride (PVC) dominated the market in 2022, with a market share of 21.56%. This is attributed to the various properties of PVC including flexibility, compatibility, and durability, making it suitable for manufacturing depth filters for stem cell extraction. Due to its versatility, PVC can be easily molded into different shapes and sizes, making it ideal for various applications in the biopharma industry
In April 2023, PSG Group International, one of the leading global pump, metering, and dispensing-solution company, launched a new biotech brand with the name ‘PSG® Biotech for life science and Biopharma’.
Grand View Research has segmented the global biopharma plastics market based on polymer type, application, and region:
Biopharma Plastics Polymer Type Outlook (Volume, Kilotons; Revenue, USD Million, 2019 - 2030)
Acrylonitrile Butadiene Styrene (ABS)
Polyethylene Terephthalate (PET)
Polyvinyl Chloride (PVC)
Biopharma Plastics Application Outlook (Volume, Kilotons; Revenue, USD Million, 2019 - 2030)
Disposable Medical Connectors
Biopharma Plastics Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2019 - 2030)
Central & South America
Middle East & Africa
List of Key Players in the Biopharma Plastics Market
LyondellBasell Industries Holdings B.V.
Toray Industries, Inc.
DuPont de Nemours, Inc.
Saint-Gobain Performance Plastics
Chevron Phillips Chemical Co., LLC
Exxon Mobil Corporation
Formosa Plastics Corporation
Mitsui & Co. Plastics Ltd.
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