India Medical Plastics Market

Posted by Nishigandha Sachin Bhushinge on March 2nd, 2020

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

 India Medical Plastics Market Dynamics:

India has the world’s largest population. The country has a population of more than 1.2 billion people and a growing economy, which is building it a hotspot for plastics in medical applications.

The demand for high-strength and multi-functional plastics from the healthcare sector is increasing across the country because of the lightweight of devices, ease of sterilization, and the capability of delivering value-added performance. Another factor impacting the country’s medical plastics market is the growth of healthcare tourism. The visitors from abroad are coming to visit India to receive more cost-effective treatment is called as healthcare tourism.

Government regulations are playing a vital role in the healthcare industry, which is impacting the medical plastic market in India. An increase in the government's concerns regarding the high-quality, safe, and effective devices offering is expected to increase the industry growth during the forecast period.

On the other hand, the fluctuations in the prices of raw materials are expected to limit the growth of the Indian medical plastics market. Key players in India have to follow the strict regulations, which are imposed by the Indian Medical Council. They are offering premium-grade plastic products for manufacturing high-quality devices.

The medical instruments & tools segment is expected to contribute the US $ XX Mn share in the India medical plastics market. The rise in the consumption of plastics in the production of the catheters, containers, surgical instruments, and syringes are expected to increase the demand for plastics in the medical sector. An increase in the importance of precautionary healthcare coupled with the growing number of hospitals in India is expected to contribute significant share in the market. Rapid urbanization, rise in demand for premium-grade plastics and functionality of engineered plastics are some of the driving factors behind the growth of the India medical plastics market.

India is heavily dependent on foreign imports. Nearly about XX % of medical devices and equipment are outsourcing from other countries, predominantly from the U.S. Furthermore, an increase in the number of private companies entering into the India medical plastics market is expected to increase the demand for high-quality devices and components. Most of the medical key players have established their manufacturing facilities and distribution and marketing centers, in India to fulfill the rising demand for the medical device from the aging population. The companies are also focused on R&D for the introduction of innovative products. Many medical devices and IVD companies are progressively interested in tapping the potential of the Indian medical plastics market.

India Medical Plastics Market Research Scope:

The objective of the report is to present a comprehensive analysis of India 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 India Medical Plastics Market dynamics, structure by analysing the market segments and project the India Medical Plastics Market size. Clear representation of competitive analysis of key players by Type, price, financial position, product portfolio, growth strategies, and regional presence in the India Medical Plastics Market make the report investor’s guide.

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The Scope of the Report for India Medical Plastics Market

India Medical Plastics Market, By Type

• Engineering plastics
• High performance plastics (HPP)
• Standard plastics
• Silicone
• Others (TPE, TPU, Biodegradable Polymers, Synthetic Rubber, and Polymer Blends)
India Medical Plastics Market, By Application

• Medical Disposables
• Prosthetics
• Medical Instruments & Tools
• Drug Delivery
• Others
Key players operating in India Medical Plastics Market

• Celanese Chemicals India Pvt. Ltd.
• Dow Chemical International Pvt. Ltd.
• Eastman Chemical India Pvt. Ltd.
• Solvay Specialty Polymers
• Total Oil India Pvt. Ltd
• Saint-Gobain India
• Rochling Engineering Plastics (India) Pvt. Ltd.

This Report Is Submitted By : Maximize Market Research Company

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About Maximize Market Research:

Maximize Market Research provides B2B and B2C research on 20,000 high growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.

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Nishigandha Sachin Bhushinge

About the Author

Nishigandha Sachin Bhushinge
Joined: December 18th, 2019
Articles Posted: 87

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