Medical Plastics Market – Size, Share, Outlook, and Opportunity Analysis, 2018 –Posted by priya saraf on May 31st, 2019 Medical plastics are extensively used in thin tubes, disposable syringes, intravenous blood bags, or in huge casing of an open MRI system. The use of plastics for the manufacturing of various disposable medical devices have made health care simpler and less painful. Over the past few decades, plastics have assumed a dramatically important role in modern medicine. Plastics have superior design flexibility, as compared to metals, ceramics, and glass, therefore plastic can be processed into innumerable sizes, shapes, thicknesses, and colors. Also, their properties can be tailored to meet a wide spectrum of physical, mechanical, chemical, and biochemical requirements. Medical Plastics Market – Dynamics Increasing usage of medical devices in hospitals is driving growth of the medical plastics market. Medical devices such as MRI plays a vital role in lab tests and clinical diagnostics for inner body insights. Increasing use of imaging techniques such as MRI is likely to boost growth of the medical plastics market. For instance, according to a report published in the National Health Services 2017, around 41 million medical imaging tests were performed in England in 2017, of which 3.49 million imaging tests took place in January 2017, where MRI was performed 0.28 million times. Request A Sample Copy: https://www.coherentmarketinsights.com/insight/request-sample/1990 Moreover, increasing investments by government bodies and private organizations for health and medical researches and development is expected to propel growth of medical plastics market. For instance, according U.S. Investments in Medical and Health Research and Development report 2017published by Research America, investment in medical and health research and development (R&D) in the U.S. grew by 20.6% between 2013 and 2016. Also, private industries invested around US$ 115.9 billion in medical and health R&D whereas, federal agencies invested a total of US$ 37.6 billion, with the National Institutes of Health (NIH) accounting for nearly US$ 30.5 billion. Medical Plastics Market – Regional Insights On the basis of region, the global medical plastics market is segmented into North America, Europe, Latin America, Asia Pacific, Middle East, and Africa. North America holds the dominant position in the medical plastics market, owing to the revenue generated by medical devices. For instance, according to the Government Accountability Office's (GAO) 2014 report, the U.S. medical device Asia Pacific is expected to exhibit significant growth over the forecast period, followed by Europe, owing to increasing demand for plastics among medical device and healthcare product manufacturers that has resulted in remarkable technology, enhanced delivery of medical care, and better reimbursement policies in the region. For instance, in 2017, the China Food and Drug Administration (CFDA) replaced pilot medical device recall system with a permanent process, Order No. 29. The new order keeps in place a three-level recall process featured in the pilot program. Medical Plastics Market – Competitive Landscape Key players operating in the global medical plastics market include Ensinger, Trinseo, Lubrizol Corporation, Celanese Corporation, BASF SE, and Arkema. Key players are adopting various strategies such as mergers, acquisitions, partnership, and new product launches to retain their dominant position in the medical plastics market. For instance, in 2017, Trinseo completed the acquisition of API Applicazioni Plastiche Industriali S.p.A., which includes API’s manufacturing and research facility at Mussolente, Italy, and all of API’s business, employees, and assets. Medical Plastics Market – Taxonomy Silicones,Others,On the basis of application, the global medical plastics market is segmented into: Drug Delivery Devices,Implants,Syringes,Disposables Catheters,Diagnostic Instruments,Surgical Instruments On the basis of geography, the global medical plastics market is segmented into: North America,Latin America,Europe,Asia Pacific,Middle East,Africa Click To Read More On About Coherent Market Insights: Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity. Contact Us: Mr.Shah Coherent Market Insights 1001 4th Ave, #3200 Seattle, WA 98154 Tel: +1-206-701-6702 Email:sales@coherentmarketinsights.com Medical plastics are extensively used in thin tubes, disposable syringes, intravenous blood bags, or in huge casing of an open MRI system. The use of plastics for the manufacturing of various disposable medical devices have made health care simpler and less painful. Over the past few decades, plastics have assumed a dramatically important role in modern medicine. Plastics have superior design flexibility, as compared to metals, ceramics, and glass, therefore plastic can be processed into innumerable sizes, shapes, thicknesses, and colors. Also, their properties can be tailored to meet a wide spectrum of physical, mechanical, chemical, and biochemical requirements. Medical Plastics Market – Dynamics Increasing usage of medical devices in hospitals is driving growth of the medical plastics market. Medical devices such as MRI plays a vital role in lab tests and clinical diagnostics for inner body insights. Increasing use of imaging techniques such as MRI is likely to boost growth of the medical plastics market. For instance, according to a report published in the National Health Services 2017, around 41 million medical imaging tests were performed in England in 2017, of which 3.49 million imaging tests took place in January 2017, where MRI was performed 0.28 million times. Request A Sample Copy: https://www.coherentmarketinsights.com/insight/request-sample/1990 Moreover, increasing investments by government bodies and private organizations for health and medical researches and development is expected to propel growth of medical plastics market. For instance, according U.S. Investments in Medical and Health Research and Development report 2017published by Research America, investment in medical and health research and development (R&D) in the U.S. grew by 20.6% between 2013 and 2016. Also, private industries invested around US$ 115.9 billion in medical and health R&D whereas, federal agencies invested a total of US$ 37.6 billion, with the National Institutes of Health (NIH) accounting for nearly US$ 30.5 billion.
Medical Plastics Market – Regional Insights On the basis of region, the global medical plastics market is segmented into North America, Europe, Latin America, Asia Pacific, Middle East, and Africa. North America holds the dominant position in the medical plastics market, owing to the revenue generated by medical devices. For instance, according to the Government Accountability Office's (GAO) 2014 report, the U.S. medical device Asia Pacific is expected to exhibit significant growth over the forecast period, followed by Europe, owing to increasing demand for plastics among medical device and healthcare product manufacturers that has resulted in remarkable technology, enhanced delivery of medical care, and better reimbursement policies in the region. For instance, in 2017, the China Food and Drug Administration (CFDA) replaced pilot medical device recall system with a permanent process, Order No. 29. The new order keeps in place a three-level recall process featured in the pilot program. Medical Plastics Market – Competitive Landscape Key players operating in the global medical plastics market include Ensinger, Trinseo, Lubrizol Corporation, Celanese Corporation, BASF SE, and Arkema. Key players are adopting various strategies such as mergers, acquisitions, partnership, and new product launches to retain their dominant position in the medical plastics market. For instance, in 2017, Trinseo completed the acquisition of API Applicazioni Plastiche Industriali S.p.A., which includes API’s manufacturing and research facility at Mussolente, Italy, and all of API’s business, employees, and assets. Medical Plastics Market – Taxonomy Silicones,Others,On the basis of application, the global medical plastics market is segmented into: Drug Delivery Devices,Implants,Syringes,Disposables Catheters,Diagnostic Instruments,Surgical Instruments On the basis of geography, the global medical plastics market is segmented into: North America,Latin America,Europe,Asia Pacific,Middle East,Africa Click To Read More On About Coherent Market Insights: Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
Contact Us: Mr.Shah Coherent Market Insights 1001 4th Ave, #3200 Seattle, WA 98154 Tel: +1-206-701-6702 Email:sales@coherentmarketinsights.com
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