
Products made of plastic that are designated for use in the healthcare sector are known as medical plastics. They are immune to corrosion, temperature changes, and chemicals. This enables efficient storage of various medical fluids and makes them simple to sterilize on a regular basis. Polypropylene and polycarbonate are the two most often utilized polymers for medical purposes. These materials are employed in products like MRI casings and surgical equipment. Plastics are now being used in place of ceramic, steel, and glass in equipment because of their durability and affordability. Medical products include breathing masks, bedpans, IV tubing, surgical equipment, implants, pill casings, and others are made of plastic. By simply discarding them after a single usage, these plastics are also employed in surgical applications to stop the transmission of infection. Antimicrobial surfaces were used in the creation of these plastic medical devices. These surfaces are very good in deterring and eliminating harmful microorganisms.
Aging populations and rising healthcare investment are anticipated to fuel market expansion. For instance, PTA Plastics invested more than $2 million in buildings and capital equipment in January 2021. These finishing tools and injection molding machines will be utilized to produce medical plastic items. The demand for medical plastics will also be further fueled by an increase in disposable income and changes in consumer lifestyle. The medical plastics market is anticipated to expand steadily as insured individuals' demand for medical equipment gradually rises in industrialized nations like the U.S. and Canada. Another significant element impacting the growth of the market is the variation in the price of fuel on a global scale. However, harmful substances like bisphenol A that are included in medical plastics have a detrimental effect on newborns, which may have a negative effect on the growth of the medical plastics industry.
A form of polymer that can be molded into practically any shape is medical plastics. Medical plastics frequently employ thermoplastic materials. After being heated, thermoplastics can be easily molded. Heat and chemical resistance are features of medical-grade polymers. Some of the most popular medical plastics include polyethylene, polypropylene, and polycarbonate. It can be used to create medical apparatus, including surgical and medical tubing. Due to rising consumer health concerns and greater investment in the healthcare sector, the global market for medical plastics is expected to grow. Additionally, the expansion of the market will be fueled by rising disposable income and a change in consumer lifestyle during the anticipated time frame.
The COVID-19 pandemic has had little impact on the medical plastics market. Exam gowns, face masks, and gloves are more in demand, which is why this is the case. The market demand was significantly affected by the shifting preference for using disposable masks and gloves as part of safety protocol. However, during the first and second quarters of 2020, social isolation standards and global lockdown measures caused a decline in sales of new medical equipment and devices. Additionally, the prolonged lockdown slowed down cross-border export and import as well as medical plastics production. Over 70 nations, including India, the US, the EU, and Switzerland, began restricting export and import activities at the beginning of May 2020.
Technology breakthroughs such device shrinking, multipurpose drug packaging, and point-of-care (POC) diagnostic tools have all contributed significantly to the medical plastics market's rapid rise. This is one of the elements driving market expansion. For instance, custom blow forming was developed as a technological solution to produce thinner pharmaceutical bottles, enhance moisture transmission performance, and fortify twist closures. Additionally, Easy Biocompatibility Testing is built into Unique Device Identification (UDI) and other device identification barcodes. Because of these technologies, a lot of plastic is being used in medical applications, which is boosting the market's growth pace. In the areas of POC diagnostics, medical device downsizing, and multipurpose packaging, businesses are collaborating to develop goods to fulfill the emerging product demands for medical applications. The improvement of patient treatment effectiveness thanks to technology is fueling market expansion.
Report Coverage
Global Medical Plastics research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Medical Plastics report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Medical Plastics competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Medical Plastics market players and analyses their core competencies in each global market sub-segments.
REPORT ATTRIBUTES | DETAILS |
---|---|
Study Period | 2017-2030 |
Base Year | 2022 |
Forecast Period | 2022-2030 |
Historical Period | 2017-2021 |
Unit | Value (USD Billion) |
Key Companies Profiled | Exxon Mobil Corporation (US), BASF SE (Germany), DuPont de Nemours, Inc. (US), Evonik Industries AG (Germany), Celanese Corporation (US), Covestro AG (Germany), Solvay (Belgium), The Lubrizol Corporation (US), Röchling Group (Germany), Tekni-Plex (US), Eastman Chemical Company (US), Saint-Gobain Performance Plastics (France), Trinseo (US), Ensinger (Germany), and Fortune Medical Plastic Products Company (China), Dow Chemical Company, Arkema S.A., Sabic, DSM N.V., RTP Company, Porex Corporation, The Chemours Company, Raumedic AG, Plastikon Healthcare. |
Segments Covered | • By Product |
Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Medical Plastics Market from 2021 to 2030.
- Market Forecast for Medical Plastics Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Medical Plastics competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Medical Plastics
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Medical Plastics market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Medical Plastics market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Exxon Mobil Corporation (US), BASF SE (Germany), DuPont de Nemours, Inc. (US), Evonik Industries AG (Germany), Celanese Corporation (US), Covestro AG (Germany), Solvay (Belgium), The Lubrizol Corporation (US), Röchling Group (Germany), Tekni-Plex (US), Eastman Chemical Company (US), Saint-Gobain Performance Plastics (France), Trinseo (US), Ensinger (Germany), and Fortune Medical Plastic Products Company (China), Dow Chemical Company, Arkema S.A., Sabic, DSM N.V., RTP Company, Porex Corporation, The Chemours Company, Raumedic AG, Plastikon Healthcare.
Primary Target Market
- Market Players of Medical Plastics
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Medical Plastics market based on the below-mentioned segments:
Global Medical Plastics Market, By Type
Polyvinyl Chloride (PVC)
Polypropylene (PP)
Engineering Plastics
Polyethylene (PE)
Polystyrene (PS)
Silicones
Other
Global Medical Plastics market, By Application
Disposables
Drug Delivery Devices
Diagnostic Instruments
Catheters
Surgical Instruments
Others
Global Medical Plastics market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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