Medical Plastics Market Share, Size, Trends, Demand by 2023-2028
IMARC Group, a leading market research company, has recently releases report titled “Medical Plastics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global medical plastics market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How big is the medical plastics market?
The global medical plastics market size reached US$ 25.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 38.3 Billion by 2028, exhibiting a growth rate (CAGR) of 6.6% during 2023-2028.
What is medical plastics?
Medical plastics are produced using medical-grade polypropylene (PP), hypoallergenic, biocompatible, and polycarbonate materials. They are shatter-proof, chemical, temperature, and corrosion-resistant, non-permeable, and can undergo frequent sterilization cycles. Medical plastics are used explicitly for healthcare applications, such as manufacturing vials, beakers, tamper-proof caps, inhalation masks, intravenous (IV) tubes, bedpans, pill casings, prosthetics, surgical instruments, and catheters. Apart from this, they are used to transport biohazardous materials due to their antimicrobial surfaces, further preventing the spread of pathogens. Silicon, polymer blends, synthetic rubber, high performance, and engineering plastics are some of the commonly available variants in the market.
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Medical Plastics Market Demand, Growth Drivers and Trends:
The recent COVID-19 outbreak has significantly increased the demand for single-use medical plastics and consumables across healthcare centers, which represents one of the primary factors driving the market growth. Moreover, the rising investments by governments of several nations to improve the healthcare infrastructure is providing a considerable boost to the market growth. Besides this, the increasing environmental awareness has compelled key players to introduce medical plastics with enhanced biocompatibility, which is bolstering the market growth.
Apart from this, the rising geriatric population, increasing prevalence of cardiovascular diseases (CVDs), and rapidly expanding medical industry are some factors creating a positive outlook for the market.
Competitive Landscape with Key Players:
The competitive landscape of the global medical plastics market has been studied in the report with the detailed profiles of the key players operating in the market.
Major Players Covered:
Arkema SA
BASF SE
Celanese Corporation
Covestro AG
Dow Inc
DuPont de Nemours Inc
Evonik Industries AG
Exxon Mobil Corporation
SABIC
Solvay S.A.
The Lubrizol Corporation (Berkshire Hathaway Inc.)
Trinseo S.A.
Report Segmentation:
The report has segmented the global medical plastics market on the basis of material, application and region.
Breakup by Material:
Polyvinyl Chloride (PVC)
Polypropylene (PP)
Engineering Plastics
Polyethylene (PE)
Polystyrene (PS)
Silicones
Breakup by Application:
Disposables
Drug Delivery Devices
Diagnostic Instruments
Catheters
Surgical Instruments
Others
Geographical Analysis:
North America
Asia Pacific
Europe
Latin America
Middle East and Africa
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Key Highlights of the Report:
Market Performance (2017-2022)
Market Outlook (2023-2028)
Market Trends
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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