According to IMARC Group’s latest report, “Medical Plastics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, thesize reached US$ 24.0 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 36 Billion by 2027, exhibiting a growth rate (CAGR) of 6.9% during 2022-2027.
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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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:
- Arkema SA (OTCMKTS: ARKAY)
- BASF SE (OTCMKTS: BASFY)
- Celanese Corporation (NYSE: CE)
- Covestro AG (OTCMKTS: COVTY)
- Dow Inc (NYSE: DOW)
- DuPont de Nemours Inc (NYSE: DD)
- Evonik Industries AG (OTCMKTS: EVKIF)
- Exxon Mobil Corporation (NYSE: XOM)
- SABIC (TADAWUL: 2010)
- Solvay S.A. (OTCMKTS: SLVYY)
- The Lubrizol Corporation (Berkshire Hathaway Inc.)
- Trinseo S.A. (NYSE: TSE)
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.
The report has segmented the global medical plastics market on the basis of material, application and region.
Based on Material:
- Polyvinyl Chloride (PVC)
- Polypropylene (PP)
- Engineering Plastics
- Polyethylene (PE)
- Polystyrene (PS)
Based on Application:
- Drug Delivery Devices
- Diagnostic Instruments
- Surgical Instruments
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- 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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