Medical Engineering Plastics Market was valued at USD 9.5 Billion in 2022 and is projected to reach USD 14.2 Billion by 2030, growing at a CAGR of 6.5% from 2024 to 2030.
The global medical engineering plastics market was valued at approximately USD 7.5 billion in 2022. This sector, characterized by the use of high-performance plastics in medical device applications, is anticipated to experience a robust compound annual growth rate (CAGR) of 6.3% from 2023 to 2030. The demand for medical engineering plastics is driven by advancements in healthcare technology, the need for lightweight yet durable materials, and the increasing prevalence of chronic diseases requiring sophisticated medical devices. As healthcare systems evolve, the integration of these high-quality plastics into medical devices such as diagnostic imaging systems, surgical instruments, and drug delivery devices continues to expand, underpinning the market's growth trajectory.
Emerging opportunities in the medical engineering plastics market are largely attributed to innovations in polymer science and the increasing emphasis on patient safety and comfort. With rising healthcare expenditure and a shift towards minimally invasive procedures, there is a growing need for advanced plastics that offer biocompatibility, sterility, and resistance to environmental factors. Additionally, the rapid growth in emerging markets, particularly in regions such as Asia-Pacific, is expected to fuel market expansion, as these regions witness rising investments in healthcare infrastructure and increasing adoption of medical technologies. This evolving landscape presents significant opportunities for market players to explore new applications and expand their footprint in the global medical engineering plastics industry.
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DuPont
BASF
Lanxess
LG Chem
Honeywell
Formosa Plastics Corporation
CHIMEI
Lotte Chemical
Toray
SABIC
QuanZhou Grand Pacific Chemical
Trinseo
Mitsubishi Engineering-Plastics Corporation
Celanese
LyondellBasell
Radici Group
Jiangsu Huayang Nylon
Grupa Azoty
DSM Engineering Plastics
Ube Industries
Polymeric Resources Corporation
Nycoa
EMS-Grivory
Techmer PM LLC
Ascend
Domo
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Medical Engineering Plastics Market
General Consumables
Medical Devices
Based on Types the Market is categorized into Below types that held the largest Medical Engineering Plastics market share In 2023.
PA
PC
POM
PBT
Others
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Medical Engineering Plastics Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Medical Engineering Plastics Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Medical Engineering Plastics Market, By Type
6. Global Medical Engineering Plastics Market, By Application
7. Global Medical Engineering Plastics Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Medical Engineering Plastics Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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