Medical Plastics Market, By Type (Polyvinyl Chloride, Polypropylene, Engineering Plastics, Polyethyl

Published Date: | Report Code : MT2058832

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The Global Medical Plastics Market is projected to reach USD 32.75 billion by 2028, growing at a CAGR of 5.7% during the forecast period.

Medical Plastic Market

Medical Plastics Market

Medical plastic is a type of polymers that are used in the health care industry. During the manufacturing method, these plastics have superior flexibility. They are lightweight and bio-compatible. The cost of production is also low. Medical plastics are therefore used in medical devices as replacements for titanium / stainless steel materials. Improved materials, particularly disposable plastics, boost a broad variety of medical tubing performance. Medical plastics are primarily employed in areas where metal parts are used in medical devices. Key applications of medical plastics include catheters and syringes, dental tools, diagnostic instruments, drug delivery devices, implants, medical bags, and surgical instruments. It is anticipated that the increase in demand for medical plastics in the production of disposable medical products such as bedpans, inhalation masks, and IV tubes will increase the global medical plastics market. Medical plastics promote the sterilization of medical devices such as tools, surgical wraps, irrigation bottles and examination gloves that are suitable for one-time use. In the production of medical devices and tools, medical plastic is therefore ideal. Medical plastics recycling is also a significant factor in driving the worldwide market for medical plastics. Being lightweight, these plastics are used to manufacture orthopedic devices, artificial cornea, hearing aids, and thin tubes called catheters.

Medical Plastics Market

Medical Plastics Market

Based on type, the medical plastics market is segmented into polypropylene, silicon, engineering plastics, polyethylene, and PVC. The PVC segment is projected to be the largest segment in the global medical plastics market during the forecast. PVC’s rising use in containers and tubing due to its chemical solidity, lethargic, and multipurpose nature. Moreover, the polyethylene segment is also forecasted to witness rapid growth in the future, owing to its growing consumption in the tubing, surgical cables, and orthopedic sutures.

The medical plastics market has been segmented on the basis of application into disposables, medical bags, catheters, syringes, implants, surgical instruments, diagnostic instruments, dental tools, drug delivery devices, and others. The Disposables segment is expected to be the largest application segment of the medical plastics market and is also expected to grow at a high rate during the forecast period. The disposables segment is driven by factors such as eliminating the effects of cross-contamination and ensuring safety and accuracy. With the increasing trend of self-medication and home-care, the demand for disposable products is increasing, as these products are user-friendly and do not require sterilization.

It is anticipated that Asia-Pacific will be the fastest-growing medical plastics market. The aging population is one of the main drivers of the region's market for medical plastics. The rapidly growing demand for medical plastics in end-use applications, competitive manufacturing costs, and high economic growth rate are the favorable factors driving the medical plastics market for medical plastics in the region. Furthermore, Japan’s growing medical industry, aging population, rising cosmetic and plastic surgeries in India, increasing cases of cardiovascular diseases, higher domestic demand, availability of raw materials, and cheap labor are driving the Asia-Pacific medical plastics market. The market in Asia-Pacific, owing to the significantly high demand for medical plastics, is much more dynamic and competitive than its western counterparts.

Key Factors Impacting Growth of Medical Plastics Market:

  • Increase in demand from the aging population for advanced medical technology and equipment

  • Shift toward minimally invasive medical procedures

  • Rising usage of home healthcare and self-medication

  • Awareness and government initiatives to provide quality healthcare services

  • Growing healthcare investments in emerging economies

  • Increase in demand for plastics over metals

  • Waste management concerns

  • Lack of skilled healthcare professionals

Key Developments:

  • In February 2018, Becton & Dickson (US) announced commercial availability within the European Economic Area and Switzerland (Western Europe) of the CE-IVD marked PAXgene ® Blood ccfDNA tube. The plastic blood collection tube including a proprietary sample stabilizing additive and BD Vacutainer ® HemogardTM technology to assist safeguard the safety of health workers. It has been intended to guarantee precise and reproducible results in applications for molecular diagnostic testing using cell-free DNA (ccfDNA), such as cancer and non-invasive prenatal testing.

What Does This Report Provide?

This report provides a detailed understanding of the global medical plastics market from qualitative and quantitative perspectives during the forecast period. The report also provides dynamic indicators with potential impact on the market during the forecast period and an in-depth analysis of the leading companies operating in the medical plastics market.

Market Segmentation:

By Type:

  • Polyvinyl Chloride

  • Polypropylene

  • Engineering Plastics

  • Polyethylene

  • Polystyrene

  • Silicones

  • Others

By Application:

  • Disposables

  • Medical Bags

  • Catheters

  • Syringes

  • Implants

  • Surgical Instruments

  • Diagnostic Instruments

  • Dental Tools

  • Drug Delivery Devices

  • Others

By Region:

  • North America

    • By Country (US, Canada, Mexico)

    • By Type

    • By Application

  • Western Europe

    • By Country (Germany, UK, France, Spain, Rest of Western Europe)

    • By Type

    • By Application

  • Eastern Europe

    • By Country (Russia, Turkey, Rest of Eastern Europe)

    • By Type

    • By Application

  • Asia Pacific

    • By Country (China, Japan, India, Rest of Asia Pacific)

    • By Type

    • By Application

  • Middle East

    • By Country (UAE, Qatar, Iran, Saudi Arabia, Rest of Middle East)

    • By Type

    • By Application

  • Rest of the World

    • By Region (South America, Africa)

    • By Type

    • By Application

Companies Covered: Major Companies profiled in the report which are key players in the global medical plastics market. Becton & Dickinson, DuPont, Saint-Gobain Performance Plastics, Exxon Mobil Corporation, Cyro Industries, BASF, TekniPlex Corporation, Dow Chemical, Bayer, Baxter International, and Alcan Packaging...

Years Considered In The Study

 

Historic Year

2016, 2017

Base Year

2018

Forecast Period

2019-2028 

CAGR % (2019-2028)

5.7 %

Reasons To Buy This Report:

  • Market size estimation of the global medical plastics market on a regional and global basis.

  • Unique research design for market size estimation and forecast.

  • Profiling of major companies operating in the medical plastics market with key developments.

  • Broad scope to cover all the possible segments helping every stakeholder in the medical plastics market.

Customization:

We provide customization of the study to meet specific requirements:

  • By Segment

  • By Sub-segment

  • By Region/Country

For more information, contact: [email protected]

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