PUBLISHER: Grand View Research | PRODUCT CODE: 1633738
PUBLISHER: Grand View Research | PRODUCT CODE: 1633738
Biopharma Plastic Market Growth & Trendss
The global biopharma plastic market size is anticipated to reach USD 11,290.12 million by 2030, according to a new report by Grand View Research, Inc. The market is projected to grow at a CAGR of 7.95% from 2025 to 2030. The rise in global healthcare expenditure for research & development of biopharma plastics is anticipated to drive the market. In addition, the rising demand for biopharmaceuticals, owing to the increasing cases of cancerous patients across the globe, is anticipated to propel the demand for biopharma plastics.
Plastics are widely used in this industry due to their versatility, durability, and cost-effectiveness. The use of plastics in biopharma applications includes packaging and delivery systems, laboratory equipment, diagnostic devices, and drug delivery devices.
The global biopharma plastics industry is expected to experience significant growth in the coming years. This growth is driven by factors such as the increasing demand for biopharmaceuticals, the growing prevalence of chronic diseases, and the rise in healthcare expenditure. Additionally, the need for more advanced and innovative packaging and delivery systems for biopharmaceuticals is also expected to drive market growth.
Moreover, the biopharma industry is increasingly focused on sustainability and reducing its environmental footprint. This has led to a growing demand for biodegradable and recyclable plastics that can be used in biopharma applications. Companies are investing in research and development to create more sustainable plastics that meet the needs of the biopharma industry.
The biopharma industry is characterized by a high level of research and development activity, as companies invest in developing new drugs and delivery systems. This is driving demand for specialized biopharma plastics that can support this research and development, such as laboratory equipment and diagnostic devices.