ANTIMICROBIAL PLASTICS MARKET ANALYSIS

Market Challenges And Opportunities

Global Antimicrobial Plastics Market Drivers:

Ascending product demand in the medical devices market

Medical devices require antimicrobial plastics since they help in preventing the surfaces of devices, equipment, and implants from microbes. These antimicrobial plastics prevent formation of harmful bacteria that can lead to infections, including carbapenem-resistant Enterobacteriaceae and methicillin- resistant staphylococcus aureus. For instance, According to Centers for Medicare & Medicaid Services (CMS) the National Health Expenditures (NHE) and Gross Domestic Product (GDP) of US are projected to grow 5.1% annually up to 2030. Thus, rising utilization of antimicrobial plastics in medical devices is expected to fuel market growth in the forthcoming years.

Rising healthcare expenditure with growing population

Growing population in the developing countries are factors contributing to the increased need to construct hospitals and clinics. This, in turn, is expected to propel the demand for sophisticated medical devices and equipment in these regions. Moreover, various government initiatives to promote the early diagnosis of diseases such as cervical cancer prevention and control program by the United Nations Task Force, increasing adoption of home healthcare services, the establishment of long-term care centers, and favorable policies such as reimbursement coverage are the factors primarily influencing the growth of the diagnostic & monitoring segment positively, thereby, driving the demand for antimicrobial plastics in the healthcare industry.

Global Antimicrobial Plastics Market Opportunities:

Growth in textile industry

From fiber, yarn, and fabric to garments, global textile and apparel industry has strengths along the whole value chain. India and China are one of the largest textile market across the globe. The traditional handloom, handicrafts, wool, and silk items, as well as the organised textile industry in India, make up a large portion of the widely diversified Indian textile and apparel market. With the advancement of nanotechnology in textile manufacturing, antimicrobials can be implemented in various technical and non-technical textiles. This is expected to create new opportunities for the antimicrobial plastics and additives market in textile industry.

Growing application in packaging industry

Antimicrobial plastic consumption will climb in the next years as their use in the packaging and automobile industries expands. The Growing demand for hygienic food packaging products will drive sales of antimicrobial packaging materials with a longer shelf life, which will be used to make foods fit for human consumption.

Global Antimicrobial Plastics Market Restraints:

Stringent environmental regulations

The use of antimicrobial plastics in the manufacturing of disposable hygiene products and medical devices is recognized as one of the significant trends in the healthcare industry. Stringent regulations have prompted antimicrobial plastic suppliers to introduce new compositions to meet the safe administration and anti-bacterial properties standards such as Biocidal Products Regulation (BPR) EU 528/2012 and Federal Insecticide, Fungicide, and Rodenticide Act (FIFRA), which are expected to hamper the growth of the antimicrobial plastics market over the forecast period. Antimicrobial products are regulated globally to protect the environment and people from substances that may have an adverse effect. Antimicrobials, when assimilated into plastics, can be considered as treated articles. These articles are treated with a biocidal substance but are not actually biocidal products, which waives many of the regulatory requirements associated with biocidal products and active substances for the approval and registration of antimicrobial additives, which hinders the growth of the antimicrobial plastics market.

 Increasing cost of production

Despite the fact that these polymers offer various advantages, the introduction of new technologies is anticipated to impede market growth to some extent to a greater extent in the future years. This involves a change. To organic or renewable polymers, which necessitate. The use of additives is kept to a minimum. This will almost certainly compel manufacturers to create organic plastics may significantly boost their production costs margin, influencing the adoption of Additives with antibacterial properties.