Demand for Fluoropolymers in Healthcare to Grow at 4.7% CAGR through 2030
The recent trend of patient-centric approach in healthcare industry has more to do with packaging compared to products. As per a latest report by Future Market Insights (FMI), the adoption of fluoropolymers in healthcare industry, globally, will rise at 4.7% CAGR through 2030.
Fluoropolymers In Healthcare Market
A recent market study published by Future Market Insights (FMI) on the fluoropolymers i...
Compared to other sectors, pharmaceutical firms are highly propelled by imperative to develop innovative products, and as such, to invest considerably in R&D activities, given growing focus on specialty drugs to diversify product portfolio.
With the launch of new products, such as gene therapy, biologics, and therapy with various profile of value and volumes, manufacturers and distributors of fluoropolymers must look at existing systems and devise ways to step up these systems for bigger margins.
Fluoropolymers in Healthcare Market Size Study
- Polytetrafluoroethylene (PTFE) to remain preferred fluoropolymers in healthcare
- Adoption in hospital disposables will remain prominent through 2030
- Medical devices including, introducers, and catheters, will see greater adoption in coming years
- East Asia continues to offer opportunities of growth and development over following decade, given surging per capital healthcare expenditure
- Market players to focus on expanding their portfolio to reach larger consumer base
“The COVID-19 pandemic has significantly changed the way consumers and businesses perceive packaging health and safety, with battle against single-use plastic placed on hold to address these evolving expectations. Despite being familiarized with negative impacts of plastic on surroundings, consumers are concerned about risks of contagion associated with reusable packaging. These uncertainties regarding about how the virus spread has put sustainability to back seat,” says analyst at FMI.
COVID-19 Impact on Fluoropolymers in Healthcare Market
Growth of global fluoropolymers in healthcare market is linearly dependent on pharmaceutical industry. The pharmaceutical industry is at forefront of the fight against COVID-19 pandemic and has been responding to the global issue by ensuring availability of medicines despite supply chain disturbances.
While the industry has been jolted due to pandemic-induced restrictions, growth will resume with gradual easing of these restrictions. Collaboration with worldwide government and non-government agencies are stepping up to handle pandemic preparedness and react via knowledge sharing and pooled resources.
As these dynamics of pharmaceutical industry is transformed by COVID-19 pandemic, pharma packaging and labeling will also undergo tectonic shifts. In addition, the pandemic will trigger growth of antiviral/antimicrobial packaging. Such trends will drive adoption of fluoropolymers in healthcare market in coming years.
Fluoropolymers in Healthcare Market – Competitive Intelligence
The global fluoropolymers in healthcare market is fairly consolidated, given limited number of players competing with each other. Globally, market players are investing in capacity expansions to diversify their product portfolio and maintain their market competitiveness. For instance,
- Dongyue Group is expanding production capacity of concentrated emulsion PTFE and dispersion resin at its Zibo unit in China in order to satiate rising demand for PTFE from North America, Europe, Southeast Asia, and South America.
- Gujarat Fluorochemicals Limited (GFL) has scaled up its fluorochemicals capacity from to 46,800 tons per annum (TPA) at its Gujarat facility in a bid to keep pace with increasing demand for fluoropolymers across Asia Pacific (APAC).
Want to Know More About Fluoropolymers in Healthcare Market?
Future Market Insights, in its new study, provides compelling insights about the fluoropolymers in healthcare market that encloses industry analysis for 2015 – 2019 and opportunity assessment for 2020 – 2030. The report offers unbiased assessment on fluoropolymers in healthcare market through three different categories – product type, application, and region. The global fluoropolymers in healthcare market research study delivers insights of pricing by different life cycle analysis, product life cycle, major market trends and technologies that are being utilized in the development of fluoropolymers in healthcare and product adoption in various end-user industries.
About Chemicals & Materials division of FMI
The Chemicals & Materials division at FMI offers distinct and pin-point analysis about the chemicals & materials industry. Coverage of the chemicals and materials market extends from commodity, bulk, specialty and petrochemicals to advanced materials, composites, and nanotechnology. The team also puts special emphasis on ‘green alternatives’, recycling and renewable technology developments, and supply-demand trade assessment. Our research studies are widely referred by chemical manufacturers, research institutions, channel partners, and government bodies for developing – ‘The Way Forward’.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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