Medical Plastics Market

Posted by Nishigandha Sachin Bhushinge on February 25th, 2020

Global Medical Plastics Market was valued US$ XX Bn in 2018 and is expected to reach US$ XX Bn by 2026, at a CAGR of 7.0 % during a forecast period.

The plastic materials sector are playing a key role in the design of medical devices. With their features like lightweight, low cost, ease of processing, flexibility, high biocompatibility, and non-ferrous properties, medical plastic materials are becoming an integral component in an extensive range of medical designs.

Global Medical Plastics Market Dynamics:

An aging population across the many regions is one of the key drivers in the global medical plastics market growth. The plastics materials are becoming the primary choice for many medical instruments and hygienic tools like examination gloves, sterile bandages, and gauze, syringes, which helps to prevent the infection against contamination.

A shift to devices, which containing more plastics is pressuring on care providers to decrease the cost of instrumentation. It helps to push toward high volumes of the medical plastic material and wide usage of the plastic mass-production techniques. Additionally, the technological development in the healthcare sector, favourable reimbursement conditions, and the rapid expansion of the medical device industry’s across the globe are some of the driving factors behind the growth of the market.

On the other hand, the time-consuming governing approval process is expected to limit the growth in the global medical plastics market. Furthermore, some of the regulations to navigate and continuously changing consumer demands are creating medical molding a difficult or key challenge to the growth.

Segment Insight:

The engineering plastics segment is expected to contribute US $ XX Mn share in the global medical plastics market. It provides many benefits over standard plastics like good malleability, rapid production time, low weight, superior resistance to high impact, shock, and chemicals, and enhanced friction reduction. Additionally, an increase in the adoption of some of the innovative technologies like robotic assistance, AI-driven procedures, 3D printing of implants and prosthetics are increasing the demand for engineering plastics.

Injection molding is contributing the lion’s share in the medical plastics market, where precision parts are molded for usage in products like syringes, catheters, surgical instruments. Injection molding is used to manufacture number of identical parts with complex geometries. For this reason, plastics have substituted to the metal in an array of applications for the reduction of the high cost of metal fabrication.

Regional Opportunities in the Global Medical Plastics Market:

Medical care and medical devices are essential for a human issue. North America region is estimated to hold the dominant position in the global medical plastics market. There are nearly more than 6,500 medical device companies present in the North America. The presence of the number of medical device companies in the states California, Florida, New York, Pennsylvania, Michigan, and Georgia is contributing significant growth in the market. The existence of robust hospital infrastructure is expected to boost the growth in the market.

On the other hand, the Asia Pacific region is projected to contribute the US$ XX Mn share in the global medical plastics market. The medical devices industry is opening up to 100 percent foreign direct investment in the developing country India is expected to drive the market growth. Many medical device key players are progressively interested in tapping the potential of the market in developing countries.

Global Medical Plastics Market Competitive Landscape:

Medical plastic key players are introducing innovative products and developing new trends to share steady growth in medical end-use applications. Designers are also focused on substituting metal parts with plastic, predominantly in applications where the cost of manufacturing metal parts is expensive over injection molded pieces. The medical device manufacturers are turning to use polymer components to drive down costs and increase product safety.

Global Medical Plastics Market Research Scope:

The objective of the report is to present a comprehensive analysis of Global Medical Plastics Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market are presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Medical Plastics Market dynamics, structure by analysing the market segments and project the size. Clear representation of competitive analysis of key players by Type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Medical Plastics Market make the report investor’s guide.

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The Scope of the Report for Global Medical Plastics Market

Global Medical Plastics Market,By Type

• Engineering plastics

• High performance plastics (HPP)

• Standard plastics

• Silicone

• Others (TPE, TPU, Biodegradable Polymers, Synthetic Rubber, and Polymer Blends)

Global Medical Plastics Market, By Application

• Medical Disposables

• Prosthetics

• Medical Instruments & Tools

• Drug Delivery

• Others

Global Medical Plastics Market, By Region

• North America

• Europe

• Asia Pacific

• Middle East & Africa

• South America

Key players operating in Global Medical Plastics Market

• Nypro Inc.

• Phillips-Medisize Corp.

• Plastikos Inc

• Sonoco Plastics

• Tech Group Inc.

• Trelleborg Sealing Solutions

• Placon Corp

• Plastic Ingenuity Inc.

• Tekni-Plex Inc.

• SABIC

• Proxy Biomedical Ltd.

• Eastman Chemical Company

• Celanese Corporation

• Solvay S.A

• Wilbert Plastic Services Inc.

• Alpha Packaging Inc.

• AptarGroup Inc.

• Berry Plastics Corp.

• GW Plastics Inc.

• Mack Group Inc

• MedPlast Inc.

• Pexco Llc

• Plastiflex Co. Inc.

• Saint-Gobain Performance Plastics

• Teel Plastics Inc.

This Report Is Submitted By : Maximize Market Research Comapny

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