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.
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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
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.
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