Biopharma Plastics Market Expected to Reach $14.9 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Biopharma Plastics Market," The biopharma plastics market was valued at $5 billion in 2022, and is estimated to reach $14.9 billion by 2032, growing at a CAGR of 11.6% from 2023 to 2032.

Biopharma plastics refer to specialized polymer substances designed for use in the pharmaceutical and biotechnology industries. These plastics possess special properties to meet stringent requirements, such as biocompatibility, stability, and non-toxicity, ensuring they no longer interact with drugs or biological substances. Their method ensures minimal leaching of additives into the contents, preserving drug integrity.

Biopharma plastics are additionally resistant to a variety of sterilization techniques such as gamma irradiation and autoclaving. These substances offer the choicest clarity, stability, and durability, facilitating correct drug administration and efficient storage.

The biopharma plastics market is projected for significant growth, primarily driven by the growing focus on pharmaceutical packaging safety. As the pharmaceutical industry places paramount significance on keeping the integrity and security of pills and clinical products, the demand for advanced packaging materials has surged.

Biopharma plastics provide a variety of really useful properties, consisting of excessive barrier performance, chemical resistance, and compatibility with a number of pharmaceutical formulations. These substances ensure protection in opposition to moisture, oxygen, and contaminants, safeguarding the potency and steadiness of capsules during their shelf life. Additionally, the shift in the direction of progressive drug delivery systems, such as pre-filled syringes and inhalers, similarly propels the demand for biopharma plastics.

Environmental issues pose a substantial challenge to the biopharma plastics market, potentially hindering its increase and development. As the world turns into greater aware of environmental sustainability, the pharmaceutical and healthcare industries are facing growing pressure to reduce plastic waste and undertake greater eco-friendly practices.

Biopharma plastics, though treasured for their special properties and functions in healthcare, can make a contribution to plastic pollution and pose a chance to the surroundings due to their non-biodegradable nature. This has led to a growing demand for alternatives, such as biodegradable or compostable materials, to mitigate the environmental impact of scientific waste. Regulatory bodies and consumers are also pushing for more sustainable solutions, leading to attainable restrictions on the use of traditional biopharma plastics.

As the healthcare and pharmaceutical industries continue to evolve, the demand for advanced medical devices and modern drug transport systems is on the rise. To meet these demands, agencies in the biopharma plastics quarter are more and more forging strategic collaborations and partnerships with research institutions, pharmaceutical companies, and scientific device manufacturers. Such collaborations allow the pooling of expertise, resources, and technologies, leading to the improvement of the latest biopharma plastic materials and products.

Moreover, these partnerships facilitate faster market entry, cost-sharing, and danger mitigation, permitting corporations to tap into new markets and amplify their product portfolios. Consequently, collaboration and partnership initiatives are expected to create lucrative opportunities for the biopharma plastics market.

The biopharma plastics market is segmented on the basis of polymer, application, and region. By polymer, the market is divided into polyethylene, polypropylene, acrylonitrile butadiene styrene, polyethylene terephthalate, polyvinyl chloride, polytetrafluoroethylene, and others. On the basis of the application, it is categorized into protective wear, containers, bioreactor bags, syringes, depth filters, disposable medical connectors, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.

On the basis of polymer, the biopharma plastics market is categorized into polyethylene, polypropylene, acrylonitrile butadiene styrene, polyethylene terephthalate, polyvinyl chloride, polytetrafluoroethylene, and others. Polyethylene Terephthalate is projected to be the fastest-growing segment and polytetrafluoroethylene has garnered the highest share of the biopharma plastics market.

On the basis of the application, the biopharma plastics market is classified into protective wear, containers, bioreactor bags, syringes, depth filters, disposable medical connectors, and others. Disposable medical connectors are projected to be the fastest-growing segment and syringes have garnered the highest share in the biopharma plastics market.

The major players operating in the global biopharma plastics market are BASF SE, SABIC, DOW Inc, Covestro AG, Formosa Plastics Corporation, Solvay, TORAY INDUSTRIES, INC., LyondellBasell Industries Holdings B.V., Mitsui & Co. Plastics Ltd, and INEOS Group.

Other Players include Thermo Fisher Scientific, GE Healthcare, Lonza Group, Corning Incorporated, Saint-Gobain Life Sciences, Eppendorf AG, Merck KGaA, Pall Corporation, Entegris, Inc., Meissner Filtration Products, Inc., Repligen Corporation, West Pharmaceutical Services, Inc., Agilent Technologies and IDEX Health & Science LLC.

Key Findings Of The Study:

• On the basis of polymer, the polyethylene terephthalate segment is expected to grow at a CAGR of 12.5%, in terms of revenue, during the forecast period.
• Depending on the application, the disposable medical connectors segment is expected to grow at a high CAGR, in terms of revenue, during the forecast period.
• Region-wise, Asia-Pacific garnered a major share in 2022 in terms of revenue.