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.
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https://healthcarelatesteditionnews.blogspot.com/2023/12/the-global-antimicrobial-plastics.html
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