Global Medical Plastics Market 2020 (Includes Business Impact of COVID-19)

                                          
“Global Medical Plastics Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by Trusted Business Insights. The global medical plastics market report has been segmented on the basis of material, application, process technology, and region.

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Global Medical Plastics Market: Overview

Medical plastic is a type of plastic variants that are used to manufacture various medical instruments and related equipment that is used in the healthcare sector. These materials are processed as per the global regulatory standards and are specially manufactured and engineered for medical use purpose.

Global Medical Plastics Market: Dynamics

Increasing demand for medical plastics in order to manufacture medical instruments and devices and other related products is one of the major factor expected to drive growth of the target market. Moreover, Increasing demand for light-weight, durable and cost-effective material for manufacturing the medical devices is a factor anticipated to support the revenue growth of the target market. In addition, increasing prevalence of chronic diseases and growing base of geriatric population are some other factors propelling the global market growth. Furthermore, recyclability of medical plastics is also a major factor fuelling the global medical plastics market. Lightweight and bio-compatible nature, medical plastics are used to manufacture orthopedic devices, hearing aids, artificial cornea, and catheters.

However, stringent and continuously changing standards associated with the production of medical equipment is a major factor expected to hamper growth of the global market during the forecast period.

Global Medical Plastics Market: Segmental Analysis

Among the material segments, the engineered plastics segment is expected to register substantial growth, owing to its various properties such as easy to mold during the production (when heated) process, flame retardant, and can sustain in the temperature up to 100 °C.

Among the application segments, the disposables segment is anticipated to account for significant revenue shares in the global market. This is attributed to increasing demand for medical disposable equipment such as dialysis disposables, medical and cleaning gloves, and disposable enemas among healthcare sector.

Among the process technology segments, the blow molding segment is estimated to register considerable growth.

Global Medical Plastics Market: Regional Analysis

North America is expected to dominate the global market and continue its dominance during the forecast period. This is attributed to the well-established healthcare industry in this region. Moreover, rising disposable income, economic growth, and easy accessibility to various healthcare services are some factors anticipated to propel the target market growth. In addition, the growing base of geriatric population and increasing prevalence of chronic diseases in various countries in this region are some factors estimated to augment the growth of the target market.

Asia Pacific medical plastics market is anticipated to contribute significant revenue shares in the target market, due to the rapid growth of the medical device market and supportive initiatives by the government. In addition, increasing usage of disposable medical products is a factor expected to support the revenue growth of the target market.

The market in Europe is anticipated to register moderate growth, owing to ongoing technological advancements and innovations in healthcare products.

Global Medical Plastics Market Segmentation:

Segmentation by Material:

Polyvinyl Chloride
Engineered Plastics
Polyethylene
Others (Polystyrene, Silicones, Polypropylene)

Segmentation by Application:

Disposables
Diagnostic Instruments
Catheters & Syringes
Implants
Dental Tools
Others (Surgical Instruments, Medical Bags, Drug Delivery Devices, etc.)

Segmentation by Process Technology:

Extrusion
Injection Molding
Blow Molding
Others (Rotational Molding and Compression Molding)