The global antimicrobial plastics market for undergoing rapid transformation, with antimicrobial plastics finding extensive applications across various end-use industries like healthcare, packaging, food and beverages and consumer goods. Antimicrobial plastics help prevent microbial growth on surfaces and are ideal for applications that require frequent contact. These plastics release antimicrobial agents that destroy or inhibit the growth of microorganisms like bacteria, viruses, mold and mildew. Antimicrobial plastics find wide usage in medical devices, healthcare facilities and even consumer products.
The global antimicrobial plastics market is estimated to be valued at US$ 37.35 Bn in 2024 and is expected to exhibit a CAGR of 9.8% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the antimicrobial plastics market include F. Hoffmann-La Roche Ltd, Biocryst Pharmaceuticals Inc., Bristol-Myers Squibb Company, Kyowa Kirin Co., Ltd., Genmab A/S, Seagen Inc., GlaxoSmithKline plc., Johnson and Johnson Private Limited, Elorac, Acrotech Biopharma, Merck and Co. Inc., Novartis AG, SHIONOGI & Co., Ltd., Spectrum Pharmaceuticals Inc., and Bausch Health Companies Inc. These players are focusing on extensive research and development activities to develop newer and more effective antimicrobial additives and compounds.
The major opportunities in the Antimicrobial Plastics Market Demand lie in the healthcare industry. With rising healthcare expenditure worldwide and increasing demand for sterilized medical devices and healthcare infrastructure, the demand for antimicrobial plastics is expected to surge. These plastics help control Hospital Acquired Infections (HAIs) to a great extent.
The global expansion of the antimicrobial plastics market will be further fueled by its increasing demand from other end-use industries like packaging, food and beverages and consumer goods. There is growing emphasis on using antimicrobial packaging for food products and consumer goods to ensure safety and extend shelf-life. Countries like China, India, Brazil and Mexico offer lucrative growth opportunities with rising industrial and infrastructure development activities.
Market drivers
The primary driver that will propel the antimicrobial plastics market is the growing healthcare industry expenditure worldwide. As per WHO, global healthcare spending is expected to witness a 5.4% CAGR between 2015-2022. This will translate into higher demand for medtech products and medical devices that use antimicrobial plastics. Moreover, the increasing incidence of HAIs and emphasis on infection control will further accentuate the market growth.
PEST Analysis
Political: Governments worldwide have implemented strict regulations regarding use of Antimicrobial Plastics Market in food contact and healthcare applications to ensure public health and safety.
Economic: Rising healthcare expenditure and growing focus on preventing hospital-acquired infections are driving demand for antimicrobial plastics from medical device manufacturers.
Social: Increasing health consciousness among consumers is prompting them to prefer packaged foods and consumer goods containing antimicrobial plastics to stay protected from germs and bacteria.
Technological: Manufacturers are investing in R&D to develop novel polymers and antimicrobial agents with long-lasting efficacy to inhibit microbial growth over extended periods.
The North America region dominated the antimicrobial plastics market in terms of revenue in 2024, due to stringent regulations regarding food safety and medical device sterilization. The region is expected to remain the highest revenue generator during the forecast period as well. The Asia Pacific region is projected to witness the fastest growth through 2031 on account of rising healthcare spending, increasing per capita income, and growing middle-class population in countries like China and India driving demand for packaged foods and medical devices.
The Europe region currently captures a significant share of the overall antimicrobial plastics market. This is attributed to the presence of major medical device companies and stringent EU regulations regarding use of plastics in food contact applications. Manufacturers are focusing on producing custom polymer blends with tailored antimicrobial properties to meet unique end-use requirements of industries like healthcare, packaging, and consumer goods in the region.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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