The global medical plastics market size was estimated at USD 52.9 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 7.4% from 2024 to 2030.

This growth can be attributed to the development of advanced plastics and plastic composites used in medical components such as catheters, surgical instrument handles, and syringes. The demand for medical device packaging is likely to be driven by a rise in demand for in-house and advanced medical devices. Plastics including polyethylene, polypropylene, and polycarbonate are increasingly being utilized for the manufacturing of medical devices. The growth of home healthcare due to its low costs compared to hospital care and intensive care has resulted in a rise in demand for medical devices.

According to the latest U.S. census, 16.8% of the U.S. population is over the age of 65 years and this number is anticipated to reach 74 million by 2030. People aged over 85 need the most care and their population is growing rapidly. In March 2021, the U.S. President, Joe Biden, proposed spending USD 400 billion on Medicaid over eight years to fund at-home care for elderly and disabled people as well as increase the wages of caregivers.

Gather more insights about the market drivers, restrains and growth of the Medical Plastics Market

Detailed Segmentation:

Market Concentration & Characteristics

Market growth stage is high, and pace of market growth is accelerating owing to overly consolidated market. Medical plastic manufacturers are actively implementing challenging strategic initiatives such as mergers & acquisitions, new product launches, production expansion, among others.

For instance, In November 2023, TekniPlex Healthcare announced the acquisition of Seisa Medical, a medical device manufacturer based in El Paso, Texas, offering various services throughout the product development cycle. This acquisition will enhance the company's materials science and process technologies worldwide for interventional therapy devices and minimally invasive. From development and design to component manufacturing, final assembly, and packaging, Seisa provides global contract manufacturing services for Class II and III medical devices and specialty components.

Process Technology Insights

Injection molding is a widely used process in the medical plastics industry. It has many advantages, including compliance with medical industry standards and regulations. The use of engineering-grade plastics ensures that parts are created to enhance patient safety and comply with FDA (Food and Drug Administration) guidelines. Injection molding is highly flexible, allowing parts to be fully customizable to fit the consumer.

Application Insights

The medical components segment dominated with a revenue share above 40.0% in 2023. The COVID-19 pandemic increased the demand for medical components such as personal protective equipment (PPE), face masks, gloves & gowns, and magnetic resonance imaging (MRI) scanners. The emerging countries manufactured PPE, face masks, and gloves, whereas, developed countries manufactured technology-intensive equipment such as MRI scanners and mechanical ventilators. Hence, the demand for the aforementioned equipment was rising during the pandemic, which in turn is expected to drive the segment’s growth.

Regional Insights

In 2023, North America dominated global medical plastics market with a market share of above 33.0%. This is expected to augment the demand for generic drugs as well as medical devices in the coming years, thereby driving North America medical plastics market over the forecast period. The key applications catered to by this industry include pharmaceutical packaging and medical components manufacturing.

Rising demand for medical plastics in pharmaceutical packaging applications and the rapid growth of the pharmaceutical industry in Mexico and Canada are expected to drive the medical plastics market in the region. For instance, the elimination of stringent regulations by the Mexican government, which had earlier restricted the establishment of new manufacturing units, has resulted in the establishment of new pharmaceutical manufacturing facilities for major companies such as Takeda and Astellas in Mexico.

Product Insights

The Poyphenylsulfone (PPSU) resin segment dominated the medical plastics market with a revenue share of above 51.0% in 2023. The heat and chemical resistance of PPSU can be attributed to this dominance. These plastics possess high strength and durability, making essential surgical tools. These are preferred in surgical robots and biopharmaceutical processing. Polyphenylsulfone exhibits good heat and chemical resistance, making it ideal for metal replacement in medical applications. These plastics possess high flexural strength, impact resistance, and durability and are ideal for producing single- and multi-use surgical instruments. Its high-temperature resistance makes it suitable for multi-use medical devices that are repeatedly steam-sterilized.

Browse through Grand View Research's Plastics, Polymers & Resins Industry Research Reports.

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Key Companies & Market Share Insights

Some key market players include BASF SE; Celanese Corporation; Evonik Industries AG; SABIC; Dow, Inc.; Solvay S.A.; Trinseo S.A.; and Eastman Chemical Company.

• In November 2022, Celanese Corporation announced the acquisition of DuPont's Mobility & Material (M&M) business for USD 11 billion. This strategic move enables Celanese to expand its global reach and enhance its offerings in the environmental sector, particularly in sustainable transportation.

Key Medical Plastics Companies:

The following are the leading companies in the medical plastics market. These companies collectively hold the largest market share and dictate industry trends. Financials, strategy maps & products of these medical plastics companies are analyzed to map the supply network.

• Röchling SE & Co. KG

• Nolato AB

• Saint-Gobain

• SABIC

• Orthoplastics Ltd

• Eastman Chemical Company

• Celanese Corporation

• Dow, Inc.

• Tekni-Plex, Inc.

• Solvay S.A.

• HMC Polymers Company Limited

• ARAN BIOMEDICAL TEORANTA

• Trelleborg Group

• Avantor, Inc.

• Trinseo

• Evonik Industries AG

Medical Plastic Market Segmentation

Grand View Research has segmented the global medical plastic market based on product, application, and region:

Medical Plastics Product Outlook (Volume, Kilotons & Revenue, USD Million, 2018 - 2030)

• Polyethylene (PE)

• Polypropylene (PP)

• Polycarbonate (PC)

• Liquid Crystal Polymer (LCP)

• Polyphenylsulfone (PPSU)

• Polyethersulfone (PES)

• Polyethylenimine (PEI)

• Polymethyl Methacrylate (PMMA)

• Others

Medical Plastics Process Technology Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Extrusion

• Injection Molding

• Blow Molding

• Other

Medical Plastics Application Outlook (Volume, Kilotons & Revenue, USD Million, 2018 - 2030)

• Medical Device Packaging

• Medical Components

• Orthopedic Implant Packaging

• Orthopedic Soft Goods

• Wound Care

• Cleanroom Supplies

• BioPharm Devices

• Mobility Aids

• Sterilization and Infection Prevention

• Tooth Implants

• Denture Base Material

• Other Implants

• Others

Medical Plastics Region Outlook (Volume, Kilotons & Revenue, USD Million, 2018 - 2030)

• North America

o U.S.

o Canada

o Mexico

• Europe

o Germany

o U.K.

o France

o Italy

o Netherland

• Asia Pacific

o China

o India

o Japan

• Central & South America

o Brazil

o Argentina

• Middle East & Africa

o Saudi Arabia

o UAE

Order a free sample PDF of the Medical Plastics Market Intelligence Study, published by Grand View Research.

Recent Developments

Some key players operating in market include BASF SE; Celanese Corporation; Evonik Industries AG; SABIC; Dow, Inc.; Solvay S.A.; Trinseo S.A.; Eastman Chemical Company among others.

• In February 2023, Cleanse Corporation announced the acquisition of DUPONT's mobility and mobility business for USD 11.00 billion. This strategic move enables Cleanse to expand its global reach and enhance its offerings in the environmental sector, particularly in sustainable transportation.

• In June 2023, SABIC acquired Clariant's 50% stake in Scientific Design, a renowned catalysis leader. This acquisition bolstered the non-cyclical, technology-driven business and brought it closer to becoming a leading global specialist.