The greatest factor responsible for the growth of the global medical plastics market is the increasing demand for disposable medical devices. A large number of healthcare organizations are insisting on disposable medical devices as they help maintain a better standard of hygiene and prevent the reuse of devices such as syringes and needles. Another driver of the global medical plastics market is the increasing need for better quality plastics that can increase the shelf life of medical devices. Other factors promoting the growth of this market are the increasing trade of medical devices due to relaxing international trade laws and an increase in the overall expenditure on healthcare.
There are also the improvements in the materials themselves that are again pushing the global medical plastics market forward. These include the reduction in weight of the plastics without compromising on durability and the safe use of non-metallic i.e., plastic medical devices around magnetic fields created by medical equipment such as the MRI.
One of the restrictions on the global medical plastics market is the care that needs to be taken in disposing the plastic medical devices. Bodies such as the Healthcare Plastics Recycling Council, or the HPRC are active in this space. The HPRC can provide assistance to medical organizations in managing the safe disposal of medical devices. This is a highly advantageous step for medical bodies towards adhering to the increasingly stringent regulations imposed by governments pertaining to the control of ecological damage caused by unmonitored disposal.
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The use of plastics in the healthcare sector spans a wide array of fields, including packaging, in most types of modern medical devices, and especially the disposable medical devices.
From a regional perspective, the U.S. has consistently held the largest share in the global medical plastics market in the recent past. The nation’s dominant position is attributed to its highly advanced healthcare infrastructure, the presence of key global players, and the high medical expenditure coupled with greater awareness of the use of quality medical devices.
The key players in the global medical plastics market include Alcan Packaging, Tekni Plex Corporation, ExxonMobil Corporation, Saint Gobain Performance Plastics, Cyro Industries, Bayer, Du Pont, The DOW Chemical Company, Baxter International, Becton and Dickinson, and BASF SE.
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