Medical Plastics Market | Covid-19 Impact Analysis

Medical Plastics Market Insights

Medical Plastics Market is likely to witness an impressive CAGR of 6.5% during the forecast period. The major growth drivers bolstering the growth of the medical plastics market are the increasing investments for healthcare in emerging economies, such as China and India and demand for advanced medical devices from the aging population and. Moreover, factors such as growing disposable income and changing lifestyle, demand for affordable and efficient healthcare systems, and increasing use of enhanced medical technologies, such as 3D printed implants and customized devices, are also fueling the growth of the market during the forecast period.

Market Share Analysis

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Medical Plastics Market Share: By Type

Based on the type, the market is segmented as standard plastics, engineering plastics, high-performance plastics, silicone, and others. Engineering plastic is expected to be the leading segment of the market during the forecast period. It offers more attractive features than that of standard plastics, such as better malleability, lower weight, faster production time, resistance to high impact, flame, shock, and chemicals, and better reduced friction. The largest market size of this segment is attributed to the enhancing standards and regulations mandating excellent quality of plastics used in the applications of medical field. Additionally, there are some other factors, such as the use of engineering plastics for assisting robots, AI-driven procedures, 3D printing of implants and prosthetics, and others, which are likely to fuel the growth of the segment during the forecast period. ?

Medical Plastics Market Share: By Application Type

Based on the application type, the market is segmented as medical disposables, prosthetics, medical instruments & tools, drug delivery, and others. Medical disposable is estimated to be the fastest-growing segment of the market during the forecast period. This growth can be attributed to its increasing usage because of the versatile features of medical disposables. Medical disposables are basically single-use products which are being used in surgical applications and in procedural applications as well. There is an increase in the usage of medical products in procedural applications and general checkup. Moreover, the demand for medical plastics has been boosted across the globe due to the use of medical disposables as per the instructions given by various agencies, such as USFDA and Europe FDA. Factors such as increase in chronic disease cases, change in lifestyle of middle-class group, need and demand for better healthcare facilities, and growing aging population are driving the growth of the segment during the forecast period.

Medical Plastics Market Share: By Region

In terms of regions, Asia-Pacific is estimated to account for the largest share of the market during the forecast period. This growth can be attributed to industrialization and urbanization in the region. Moreover, the increasing demand for a better healthcare system is driving the growth potential of APAC. Asia-Pacific is the largest region in the market with rapidly growing economies such as China, India, Malaysia, Indonesia, Vietnam, and Thailand, across which, local governments are reforming rules and regulations in various fields such as advanced materials, IT integration, and others in the healthcare industry to boost the efficiency of different medical devices and other healthcare related services provided by this industry. The major factors such as changing reforms related to value-based care in existing systems, increasing R&D, ecosystem partnership across value-chain, and digitalization of the healthcare systems are fueling the medical device sector. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.

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Some of the key players in manufacturing medical plastics are-

• Arkema
• BASF
• Celanese
• Covestro AG
• Ensinger
• Evonik Industries
• Lubrizol
• SABIC
• Solvay
• Trinseo

Market Scope & Segmentation

Medical plastic is basically a type of material which is a part of a wide range of semi-synthetic or synthetic solids that are being used in creating industrial products such as in healthcare industry, which require many products made up of medical plastics to fulfill the need and demand for the services provided by them.

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

The medical plastics market is segmented into the following categories. 

Medical Plastics Market Size, Share, & Forecast, by Type:

• Standard Plastics
  • (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
  • (Type Analysis: Polyvinyl Chloride, Polyolefin, Polypropylene, Polystyrene, Polymethyl Methacrylate)
• Engineering Plastics
  • (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
  • (Type Analysis: Polyamide, Acrylonitrile Butadiene Styrene, Polycarbonate, Polyacetal, and Others)
• High-Performance Plastics
  • (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
  • (Type Analysis: Polyetheretherketone, Polytetrafluoroethylene, Polyphenylsulfone, and Other HPPS)
• Silicone (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others
  • (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
  • (Type Analysis: Thermoplastic Elastomer, Thermoplastic Polyurethane, Biodegradable Polymers, and Polymer Blends and Synthetic Rubber)

Medical Plastics Market Size, Share, & Forecast, by Application Type:

• Medical Disposables
  • (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
  • (Application Type Analysis: General Disposables, Medical Bags, Catheters, and Syringes)
• Prosthetics
  • (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
  • (Application Type Analysis: Limb Prosthesis and Implants)
• Medical Instruments & Tools
  • (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
  • (Application Type Analysis: Surgical Instruments, Diagnostic Instruments & Devices, and Dental Tools)
• Drug Delivery (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Medical Plastics Market Size, Share, & Forecast, by Region:

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Research Methodology

This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the types by application type.  

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected].