SEATTLE, August 03, 2021, (MEDGADGET) — In the present scenario, healthcare would not be possible without the use of plastic materials. From disposable syringes to intravenous blood bags, thin tubes, or huge casing of an open MRI system, medical plastics are significantly used. Moreover, over the past few decades, plastics have played an important role in modern medicine, and the usage of plastics for the manufacturing of numerous disposable medical devices have made health care simpler.

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Traditionally, metals, ceramics, and glass were preferred materials for the manufacturing of medical devices, implants, and others, however, flexibility, lightweight, and low-cost properties of plastics have made it a material of choice for manufacturing medical devices.  Moreover, plastics can be customized to cater to a wide spectrum of physical, mechanical, chemical, and biochemical requirements from end-users.

Several advancements in high-performance polymers and related benefits of plastics over other materials are expected to offer lucrative opportunities to market players operating in the medical plastics market. Polyvinyl chloride (PVC) is majorly utilized in the manufacturing of class I medical devices. In addition, polyvinyl chloride-based medical devices can be easily sterilized using ethylene oxide, steam, or radiation methods. Polyethylene (PE), Polyvinyl chloride (PVC), Polystyrene (PS), Polypropylene (PP), Silicones, and others are different types of medical plastics available in the market.

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Medical Plastics Market – Dynamics

The growth of the medical plastics market is attributed to increasing usage of medical devices in hospitals. Medical devices such as MRI plays a vital role in lab tests and clinical diagnostics for organs and structures inside the body. Thus, increasing adoption of imaging techniques such as MRI is expected to fuel growth of the medical plastics market over the forecast period. For instance, according to a report published in the National Health Services 2017, around 41 million medical imaging tests were performed in England in 2017, of which 3.49 million imaging tests took place in January 2017, where MRI was performed 0.28 million times.

Furthermore, increasing investments for health and medical researches and development by government bodies and private organizations is expected to drive growth of medical plastics market over the forecast period. For instance, according to the U.S. Investments in Medical and Health Research and Development report 2017 published by Research America, in the U.S., investments in medical and health research and development (R&D) grew by 20.6% between 2013 and 2016. Moreover, private industries invested around US$ 115.9 billion in medical and health R&D whereas, federal agencies invested a total of US$ 37.6 billion, with the National Institutes of Health (NIH) accounting for nearly US$ 30.5 billion.

Medical Plastics Market – Restraints

The factors that are expected to hamper growth of the global medical plastics market include environmental risks associated with the use of medical plastics and stringent rules imposed by regulatory bodies on the introduction of new medical devices.

Medical Plastics Market – Regional Insights

The global medical plastics market is segmented into North America, Europe, Latin America, Asia Pacific, Middle East, and Africa, on the basis of region.

Among regions, North America is expected to hold dominant position in the medical plastics market, owing to the revenue generated by medical devices. For instance, according to the Government Accountability Office’s (GAO) 2014 report, the U.S. medical device market was valued at over US$ 140 billion in 2015, which accounts for around 45% of the global market.

Moreover, Asia Pacific is expected to witness significant growth over the forecast period, followed by Europe, attributed to growing demand for plastics among medical device and healthcare product manufacturers, which has led to advancements in technology, enhanced delivery of medical care, and better reimbursement policies in the region. For instance, in 2017, the China Food and Drug Administration (CFDA) replaced pilot medical device recall system with a permanent process, Order No. 29. The new order keeps in place a three-level recall process featured in the pilot program.

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Medical Plastics Market – Competitive Landscape

Major players operating in the global medical plastics market include Ensinger, Trinseo, Lubrizol Corporation, Celanese Corporation, BASF SE, and Arkema.

Moreover, market players are adopting various organic and inorganic growth strategies such as mergers, acquisitions, partnerships, and novel product launches to strengthen their position in the global medical plastics market. For instance, in 2017, Trinseo acquired API Applicazioni Plastiche Industriali S.p.A., that included API’s manufacturing and research facility at Mussolente, Italy, and all of API’s business, employees, and assets.

Medical Plastics Market – Taxonomy

• On the basis of product type, the global medical plastics market is segmented into:

Polyvinyl Chloride (PVC)

Polypropylene (PP)

Polyethylene (PE)

Polystyrene (PS)

Silicones

Others

• On the basis of application, the global medical plastics market is segmented into:

Drug Delivery Devices

Implants

Syringes

Disposables

Catheters

Diagnostic Instruments

Surgical Instruments

• On the basis of region, the global medical plastics market is segmented into:

North America

Latin America

Europe

Asia Pacific

Middle East

Africa

Table of Content

Global Medical Plastics Market Research Report
Section 1: Global Medical Plastics Industry Overview
Section 2: Global Economic Impact on Medical Plastics Industry
Section 3: Global Market Competition by Industry Producers
Section 4: Global Productions, Revenue (Value), according to Regions
Section 5: Global Supplies (Production), Consumption, Export, Import, geographically
Section 6: Global Productions, Revenue (Value), Price Trend, Product Type
Section 7: Global Market Analysis, on the basis of Application
Section 8: Medical Plastics Market Pricing Analysis
Section 9: Market Chain, Sourcing Strategy and Downstream Buyers
Section 10: Strategies and key policies by Distributors/Suppliers/Traders
Section 11: Key Marketing Strategy Analysis, by Market Vendors
Section 12: Market Effect Factors Analysis
Section 13: Global Medical Plastics Market Forecast

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