Medical Plastics Market Is Expected To Expand At A CAGR Of 7.5% During 2022 To 2030

Posted by rahul nikade on July 27th, 2022

Medical Plastics Industry Overview

The global medical plastics market is anticipated to reach USD 88.40 billion by 2030, registering a CAGR of 7.5% from 2022 to 2030, according to a new report by Grand View Research, Inc. The market is primarily driven by the increasing demand for existing and new medical technologies, the aging population, and the growth in medical device applications. Plastics are increasingly becoming a vital part of medical devices as they offer better biocompatibility and optical clarity, and are economical to use.

Medical Plastics Market Segmentation

Grand View Research has segmented the medical plastics market based on product, application, and region:

Based on the Product Insights, the market is segmented into Polyethylene (PE), Polypropylene (PP), Polycarbonate (PC), Liquid Crystal Polymer (LCP), Polyphenylsulfone (PPSU), Polyethersulfone (PES), Polyethylenimine (PEI), Polymethyl Methacrylate (PMMA), Others.

• Polyphenylsulfone (PPSU) dominated the global market in the product segment and accounted for more than 51.0% overall revenue share in 2021. Polyphenylsulfone exhibits good heat and chemical resistance, which makes it ideal for the replacement of metals in medical applications.
• These plastics possess high flexural strength, impact resistance, and durability and are ideal for producing single- and multi-use surgical instruments. Its high-temperature resistance makes it suitable for medical devices that need to be steam-sterilized repeatedly. These plastics are increasingly being used in surgical robots and biopharmaceutical processing.
• Polypropylene (PP) is used for manufacturing protective packaging and medical equipment due to its high toughness and durability.
• Furthermore, the strong chemical bonds make it suitable for manufacturing medical components including disposable syringes, connectors, finger-joint prostheses, non-absorbable sutures, reusable plastic containers, pharmacy prescription bottles, clear bags, beakers, test tubes, and others.

Based on the Application Insights, the market is segmented into Medical Device Packaging, Medical Components, Orthopedic Implant Packaging, Orthopedic Soft Goods, Wound Care, Cleanroom Supplies, BioPharm Devices, Mobility Aids, Sterilization and Infection Prevention, Tooth Implants, Denture Base Material, Other Implants, Others.

• The medical components segment dominated the application segment for the global market and accounted for the largest revenue share of more than 40.0% in 2021.
• The growing application scope of PP in the manufacturing of diagnostic devices, trays, pans, containers, syringes, implant trials, and medical cover sheets is expected to drive the demand.
• Polypropylene is expected to witness substantial growth in medical components application owing to its low weight, high bacterial and chemical resistance, and low cost. It has a wide scope of application in medical disposable manufacturing.
• Mobility aids are the second biggest segment where plastics are used. The usage of plastics for developing mobility aids is expected to grow significantly due to the increasing geriatric population worldwide. Technological advancements and rising expenditure in the healthcare industry are expected to further drive the market.
• This is expected to increase the global consumption of plastics such as acrylonitrile butadiene styrene (ABS), PEEK, and polycarbonate (PC).  The usage of plastics in mobility aids such as wheelchairs, drinking aids, and bath seats is expected to not only contribute to the surged product demand but also toward using plastics as substituents for metals in different medical applications owing to their lightweight.

Medical Plastics Regional Outlook 

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa (MEA)

Key Companies Profile & Market Share Insights

The global market key players operating in the market are Solvay S.A. Celanese Corporation, Eastman Chemical Company, Dow, SABIC, and Evonik Industries AG, along with a few medium and small regional players. Established players are developing new products through R&D suitable for medical applications.

Some prominent players in the global medical plastics market include

• Röchling SE & Co. KG
• Nolato AB
• Saint-Gobain Performance Plastics
• SABIC
• Orthoplastics Ltd
• Eastman Chemical Company
• Celanese Corporation
• Dow
• Tekni-Plex
• Solvay S.A.
• HMC Polymers
• ARAN BIOMEDICAL TEORANTA
• Trelleborg AB
• Avantor Inc
• Trinseo
• Evonik Industries AG 

Order a free sample PDF of the Medical Plastics Market Intelligence Study, published by Grand View Research. 

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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