Global Medical Plastic market expected to record a CAGR of ~7% during the forecast period (2017-2028): Ken Research
What Is The Size Of Global Medical Plastic Industry?
Global Medical Plastic market is growing at a CAGR of ~% in 2017-2022 and is expected to reach ~USD Bn by 2028F.
The Medical Plastic Market is largely driven by rising awareness regarding personal hygiene, technological advancement, and high investment by the players in the development of medical plastics.
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The demand for medical plastics has grown as a result of the continually rising human population. Due to the constant rise in plastic production and waste creation caused by these items, environmental pollution levels are rising and the development of the medical plastics industry is being hampered. These are typically non-recyclable materials that receive separate treatments to prevent the spread of infection.
The COVID-19 pandemic has had a positive effect on some medical equipment markets. Polyethylene, polypropylene, and engineering plastics are just a few of the polymers that were highly demanded and are still in demand due to medical uses as well as due to the increased production of medical supplies and equipment during the pandemic, such as thermal scanners, ventilators, respirators, masks, and gloves. Additionally, increasing consumer awareness of good hygiene is promoting product consumption and fosters market expansion after COVID-19.
Global Medical Plastic Market By Product
The Global Medical Plastic market is segmented by product into Polyethylene, Polypropylene, Polycarbonate, Liquid Crystal Polymer and Polyphenylsulfone.
The Polyphenylsulfone product segment held the largest market share in the Global Medical Plastics Market in 2022.
Polyphenylsulfone resists heat and chemicals well, it is preferable for replacing metals in medical applications. The manufacturing of single- and multiple-use surgical instruments is made possible by these plastics’ strong flexural strength, impact resistance, and longevity.
Medical devices that must be frequently steam sterilized adopt Polyphenylsulfone because of its resilience to high temperatures. These plastics are increasingly being employed in the production of biopharmaceutical products and surgical robots.
Global Medical Plastic Market By Application
The Global Medical Plastic Market is segmented by Application into Medical Device Packaging, Medical Components, Wound Care, BioPharm Devices, Tooth Implants and Others.
The medical components application segment held the largest share of the Global Medical Plastics Market in 2022 and the demand is anticipated to be driven by the expanding range of applications for polypropylene in the production of diagnostic pans, tools, trays, implant trials, containers, syringes, and medical cover sheets.
Polypropylene is anticipated to experience significant expansion in the application for medical components owing to its high level of microbiological and chemical resistance, low weight, and low price, and can be used in the production of a variety of medical disposables.
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Key Topics Covered in the Report
- Snapshot of the Global Medical Plastics Market
- Industry Value Chain and Ecosystem Analysis
- Market size and Segmentation of the Global Medical Plastics Market
- Historic Growth of the Overall Global Medical Plastics Market and Segments
- Competition Scenario of the Market and Key Developments of Competitors
- Porter’s 5 Forces Analysis of the Global Medical Plastics Market
- Overview, Product Offerings, and SWOT Analysis of Key Competitors
- COVID-19 Impact on the Overall Global Medical Plastics Market
- Future Market Forecast and Growth Rates of the Total Global Medical Plastics Market and by Segments
- Market Size of Product / Application Segments with Historical CAGR and Future Forecasts
- Analysis of the Medical Plastics Market in Major Regions
- Major Production / Consumption Hubs in the Major Regions
- Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
- Overview of Notable Emerging Competitor Companies within Each Major Country
Major Players Mentioned in the report
- Evonik Industries AG
- Solvay S.A.
- Dow
- Eastman Chemical Company
- Röchling Group
- DuPont de Nemours Inc.
- BASF SE
- Celanese Corporation
- Mitsubishi Chemical Corporation
- Nolato AB
- Saint-Gobain Performance Plastics
Notable Emerging Companies Mentioned in the Report
- Minnesota Rubber & Plastics
- Advantech Plastics, LLC
- Industrial Plastic Supply, Inc.
- Somerset Plastics Co., Inc.
- Total Plastics, Inc.
Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report
- Medical Machine and Equipment Manufacturers
- Plastics Manufacturers
- Laboratory Equipment Dealers
- Healthcare Products Manufacturers
- Medical Device Packaging Manufacturers
- Plastics Chemical Manufacturers
- Organic Polymers Manufacturers
- Implant Packaging Manufacturers
- Medical Soft Goods Manufacturers
- BioPharm Devices Manufacturers
- Government Healthcare Departments
- Environmental Protection Regulators
- Chemical Products Suppliers
Time Period Captured in the Report
- Historical Period: 2017-2021
- Forecast Period: 2022E-2028F
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