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.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.
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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).
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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.
Key Questions Answered by the Report
- How the market for fluoropolymers in healthcare is expected to shape up in coming ten years?
The global fluoropolymers in healthcare market will value around US$ 927 Mn in 2030. The growth rate for the market will be 4.7 % CAGR during 2020-2030.
- Which is the largest market?
East Asia represents the largest market globally, followed by Europe, owing to rising government investments in patient-centric care models.
- How is the competition structured globally?
The market is fairly consolidated with leading players including, DIC Corporation, AGC Inc., and Solvay S.A., accounting for prominent share in market revenue.
- Where are fluoropolymers used in the healthcare industry?
Companies generally offer fluoropolymers in healthcare for several applications such as medical devices, hospital disposables, and pharma packaging. While adoption in hospital disposables will remain high, usage in pharma packaging will pick momentum in coming years.
- Which is the top-selling product?
Market players continue to bank on polytetrafluoroethylene (PTFE) as preferred fluoropolymers. That said, they are also turning to polyvinyl fluoride (PVF) and perfluoroalkoxy alkanes (PFA).