Global Medical Plastics Market Is Expected To Reach USD 27,900 Million By 2025

25-Apr-2019 | Zion Market Research

Zion Market Research has published a new report titled “Medical Plastics Market By Material (Polyethylene, Polypropylene, Engineering Plastics, Silicon, and PVC) and By Application (Diagnostic Instruments, Disposables, Syringes, Catheters, Implants, Surgical Instruments, and Drug Delivery Devices): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018-2025”. According to the report, the global medical plastics market was valued at around USD 17,205 million in 2018 and is expected to reach approximately USD 27,900 million by 2025, at a CAGR of around 7.03% between 2019 and 2025.

Medical plastics are used for making the outer bodies of non-reusable medical devices. An utmost feature of polymers is used to produce innovative and improved synthetic limbs and disposable devices that thrive in mitigating the jeopardy of contamination to patients. They are extremely supple, long-lasting, and economical. The sterility, performance, and quality of these tools is a significant factor for this market’s growth.

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Global Medical Plastics Market

The growing demand for medical devices at reasonable prices has augmented the need for medical devices in the medical industry. Stringent government rules have enforced healthcare providers to select biocompatible, environmentally-friendly, and clean materials to meet manufacturability, functionality, and safety necessities related to medical devices. Additionally, the increasing requirement for medical devices with a better shelf life, growing export, and import of medical instruments, and rising demand for non-reusable and sterilized instruments are also driving the global medical plastics market. The augmentation in the use of prosthetics and rise in the demand for non-magnetic tools around greatly magnetized medical devices, such as MRI, are also fuelling medical plastics market growth globally.

The global market of medical plastics is split into type and application. Based on type, the market is divided into polypropylene, silicon, engineering plastics, polyethylene, and PVC. The PVC (polyvinyl chloride) segment is projected to be the largest segment in the global medical plastics market in the future. PVC’s rising use in containers and tubing due to its chemical solidity, lethargic, and multipurpose nature. Moreover, the polyethylene segment is also forecasted to witness rapid growth in the future, owing to its growing consumption in the tubing, surgical cables, and orthopedic sutures.

Based on application, the global market is categorized into diagnostic instruments, catheters, disposables, implants, surgical instruments, syringes, and drug delivery devices. The disposables segment is expected to grow substantially in the future, due to the rising demand for medical devices like dialysis disposables, disposable enemas, medical and cleaning gloves, etc.

By geography, Asia Pacific is expected to dominate the global medical plastics market, owing to the developing technologies like minimally invasive medical procedures to manufacture improved medical devices. Additionally, the regional demand for medical devices has been growing due to the increasing awareness of early analysis and treatment of limitless diseases across this region.

Some key players of the global medical plastics market are Becton & Dickinson, Du Pont, Saint-Gobain Performance Plastics, Exxon Mobil Corporation, Cyro Industries, BASF, TekniPlex Corporation, Dow Chemical, Bayer, Baxter International, and Alcan Packaging.

This report segments the global medical plastics market as follows:

Global Medical Plastics market: Material Analysis

  • Polyethylene
  • Polypropylene
  • Engineering Plastics
  • Silicon
  • PVC

Global Medical Plastics market: Application Analysis

  • Diagnostic Instruments
  • Disposables
  • Syringes
  • Catheters
  • Implants
  • Surgical Instruments
  • Drug Delivery Devices

Global Medical Plastics market: Regional Analysis

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

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