The Global Medical Plastic Market size is expected to reach USD 33.6 billion by 2025, according to a new report by Grand View Research, Inc. Rising demand for sterilized plastics for use in the medical industry is expected to emerge as the major factor driving market growth.
The market exhibits an abundance of raw material supply with a large volume of raw material production across North America, Europe, and Asia Pacific. The industry is characterized by the consumption of premium quality high priced products used in the manufacture of healthcare products such as catheters, surgical instruments, and syringes.
The industry is driven by the global population growth, increasing access to the consumers towards healthcare services, primarily in the developing economies, and growing substitution of the metal parts in surgical components. In addition, development of advanced materials with improved strength and performance is expected to benefit the market growth
The industry is characterized by extensive regulations enforced regarding the performance of the products in medical devices. In addition, the industry is expected to be affected by the rejection of Polyvinyl chloride due to concerns regarding the effects the product usage on human health.
Price volatility triggered by spike and decline in the price levels of crude oil is major factor impacting market growth. In addition, increasing demand for the product in alternate applications is expected to pose a threat to the growth, though the effect is likely to be subdued by the growing product adoption over the forecast period.
Full Research Report on Global Medical Plastic Market Analysis:
http://www.grandviewresearch.com/industry-analysis/medical-plastics-market
Further key findings from the report suggest:
View more reports of this category by Grand View Research at:http://www.grandviewresearch.com/industry/plastics-polymers-and-resins
Grand View Research has segmented the Global Medical Plastic Market by product, application, and region:
Application Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
Region Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
View press release of this research report by Grand View Research:
http://www.grandviewresearch.com/press-release/global-medical-plastics-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For more information: www.grandviewresearch.com