The Global Antimicrobial Plastics Market Growth Accelerated By Increased Demand In Healthcare Industry
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Antimicrobial Plastics Market |
Antimicrobial plastics offer
inherent microbial resistance and protect surfaces from microbial
deterioration. Antibacterial plastics ensure safety from microbial
contaminations in various end-use industries such as healthcare, packaging,
food and beverage, and consumer goods. These plastics are used in manufacturing
of medical devices, equipment, and packaging materials to prevent
cross-contamination. The global Antimicrobial Plastics Market is estimated to
be valued at US$ 32.42 Bn in 2023 and is expected to exhibit a CAGR of 5.6%
over the forecast period 2023 to 2030, as highlighted in a new report published
by Coherent Market Insights.
Market key trends:
The increased demand from the
healthcare industry has been a major trend fueling the growth of the
antimicrobial plastics market. These plastics help prevent hospital-acquired or
nosocomial infections by inhibiting the growth of microorganisms such as bacteria,
fungi, and algae. With rising healthcare expenditure and growing awareness
about hygiene, many healthcare facilities are incorporating products made with
antimicrobial plastics. These include medical devices, surgical and clinical
equipment, toilet seats, door handles, and countertops. As per statistics, the
outbreak of hospital-acquired infections adds more than $45 billion annually to
US healthcare costs. Growing investments by major players to expand the
production of antimicrobial plastics specifically designed for healthcare
applications will further drive the demand over the forecast period.
Segment Analysis
The global antimicrobial plastics
market is dominated by commodity plastics segment. Commodity plastics such as
polypropylene, polyethylene, and polystyrene that are incorporated with silver
is the most preferred choice for antimicrobial plastics. This is because
commodity plastics are lightweight, cost-effective, and have required
mechanical and physical strength for packaging applications. Furthermore,
commodity plastics with silver also do not leach out or degrade over time,
making them suitable for durable applications.
Key Takeaways
The Global
Antimicrobial Plastics Market Size is expected to witness high growth
during the forecast period of 2023-2030. Being driven by increasing health
awareness among consumers and stringent regulations regarding food safety. The
Asia Pacific region currently dominates the market due to rising consumer
spending and stringent government policies regarding food safety in countries
like China, India, and Japan.
Regional analysis
The Asia Pacific region is
expected to be the fastest growing as well as the dominating regional market
during the forecast period. This can be attributed to rising hygiene standards,
increasing per capita income, and growing middle-class population in the
region. Countries like China, India, Japan, and South Korea are the major
consumers of antimicrobial plastics in Asia Pacific.
Key players
Key players operating in the
antimicrobial plastics market are Pfizer Inc., Abbott Laboratories, AstraZeneca
Plc., Novartis AG, Merck & Co. Inc., Teva Pharmaceutical Industries Ltd.,
Amgen Inc., Bristol-Myers Squibb Company, Eli Lilly and Company,
GlaxoSmithKline plc, Johnson & Johnson Services, Inc., Sanofi S.A., Stryker
Corporation, Zimmer Biomet Holdings, Inc., Medtronic plc.
Get More Insights Here
https://www.newsstatix.com/antimicrobial-plastics-market-share-size-forecast-outlook-2023-2030/
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