Medical plastics are light weight, biocompatible materials that are used for the fabrication of medical devices.Rise in demand for quality and safety of medical devices at a reasonable cost is fuelling the demand for medical plastics.
Government regulations compel the medical sector to opt for environment friendly, biocompatible, and clean materials to meet functionality, manufacturability, and safety requirements of medical devices.Devices manufactured by using medical plastics are durable, flexible, and cost effective.
Medical devices manufactured from medical plastics are employed in various applications such as surgical instruments, implants, disposables, syringes, diagnostic instruments, drug delivery devices, and catheters.
Shift in demand for disposable devices from North America and Europe to Asia Pacific is the key factor driving the market.Increase in demand for unique designs for medical parts, tools, and equipment has augmented the requirement of fabrication processes that can handle the complexity of designs.
These designs also need to meet the cleanliness requirements of health care applications.This makes injection molding an ideal choice for the manufacture of medical devices, as the injection molding process meets quality standards.
Thus, recent advancements in injection molding is boosting the medical plastics market.Low manufacturing costs and durability are prominent factors augmenting the medical plastics market.
Metal and glass equipment are more prone to corrosion; however, medical plastics offer a reliable solution over other equipment. Furthermore, these plastics have longer shelf life and do not have breaking ability. This makes them viable options over metal and glass.
In terms of type, the global medical plastics market has been classified into PVC, PE, PP, PS, engineering plastics, silicone, and others (including biopolymers and polyamides).PVC dominates the global medical plastics market.
Based on process technology, the global medical plastics market has been divided into extrusion, injection molding, blow molding, and others (including rotational molding and compression molding). In terms of application, the global medical plastics market has been segregated into disposables, diagnostic instruments, catheters & syringes, implants, dental tools, surgical instruments, medical bags, drug delivery devices, and others (including breathing masks and incubators & autoclaves).
The report analyzes and forecasts the medical plastics market at the global and regional levels.The market has been projected in terms of volume (kilo tons) and value (US$ Mn) for the period from 2018 to 2027.
The study includes drivers and restraints of the global medical plastics market.It also encompasses the anticipated impact of these drivers and restraints on the demand for medical plastics during the forecast period.
The report highlights opportunities in the market at global and regional levels.
The report comprises detailed value chain analysis, which provides a comprehensive view of the global medical plastics market.The Porter’s Five Forces model for the medical plastics market has also been included to help understand the competition landscape.
The study encompasses market attractiveness analysis, wherein type, process technology, and application segments have been benchmarked based on their market size, growth rate, and general attractiveness.
The study provides a decisive view of the global medical plastics market by segmenting it in terms of type, process technology, application, and region.These segments have been analyzed based on the present and future trends.
Regional segmentation includes the current and forecast demand for medical plastics in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report also covers individual application segments of the market in every region.
The study encompasses profiles of major companies operating in the global medical plastics market. Key players profiled in the report on the global medical plastics market include Exxon Mobil Corporation, BASF SE, Dow DuPont, Evonik Industries AG, Arkema S.A, Celanese Corporation, Royal DSM, and Solvay.
Global Medical Plastics Market, by Type PVC PE PP PS Engineering Plastics Silicone Others (Including Biopolymers and Polyamides )
Global Medical Plastics Market, by Process Technology Extrusion Injection Molding Blow Molding Others (Including Rotational Molding and Compression Molding)
Global Medical Plastics Market, by Application Disposables Diagnostic Instruments Catheters & Syringes Implants Dental Tools Surgical Instruments Medical Bags Drug Delivery Devices Others (Including Breathing Masks and Incubators & Autoclaves)
Global Medical Plastics Market, by Region North America U.S. Canada Europe Germany France U.K. Italy Turkey Russia & CIS Rest of Europe Asia Pacific China Japan India ASEAN Rest of Asia Pacific Latin America Brazil Mexico Rest of Latin America Middle East & Africa GCC South Africa Rest of Middle East & Africa
Key Takeaways Extensive analysis of market trends from 2019 to 2027 to identify growth opportunities and market developments Comparative analysis of various applications, wherein medical plastics are utilized Key factors that create opportunities in the medical plastics market at global, regional, and country levels Comprehensive analysis with respect to investments and regulatory scenario that are likely to impact the outlook and forecast of the global medical plastics market between 2019 and 2027 Detailed competition landscape of key players operating in the market to help understand the competition level Demand-supply scenario of the medical plastics market Detailed pricing analysis based on regional and type segments Porter’s Five Forces Analysis to highlight the power of buyers and suppliers
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