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.
*The Sample consists of Table of Content, Research framework of the actual report & research methodology adopted for it.
Download Free PDF Sample: https://www.coherentmarketinsights.com/insight/request-pdf/1990
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.
“Limited Time Offer”
Buy This Research Study Report With Flat US $2000 Off @ https://www.coherentmarketinsights.com/promo/buynow/1990
Medical Plastics Market – Dynamics
The growth of the medical plastics market is attributed to increasing usage of medical devices in hospitals. Medical devices such as MRI plays a vital role in lab tests and clinical diagnostics for organs and structures inside the body. Thus, increasing adoption of imaging techniques such as MRI is expected to fuel growth of the medical plastics market over the forecast period. For instance, according to a report published in the National Health Services 2017, around 41 million medical imaging tests were performed in England in 2017, of which 3.49 million imaging tests took place in January 2017, where MRI was performed 0.28 million times.
Furthermore, increasing investments for health and medical researches and development by government bodies and private organizations is expected to drive growth of medical plastics market over the forecast period. For instance, according to the U.S. Investments in Medical and Health Research and Development report 2017 published by Research America, in the U.S., investments in medical and health research and development (R&D) grew by 20.6% between 2013 and 2016. Moreover, private industries invested around US$ 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.
To get detailed table of content (ToC), please click – https://www.coherentmarketinsights.com/ongoing-insight/toc/1990
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)
- On the basis of application, the global medical plastics market is segmented into:
Drug Delivery Devices
- On the basis of region, the global medical plastics market is segmented into:
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
Have a Look at Related Research Insights:
Automated Antimicrobial Susceptibility Testing Market – https://www.openpr.com/news/2344210/automated-antimicrobial-susceptibility-testing-market-will
Injectable Drug Delivery Market – https://www.openpr.com/news/2344225/injectable-drug-delivery-market-briefing-on-growing-at-a-cagr
Patient Portal Software Market – https://www.openpr.com/news/2344246/patient-portal-software-market-to-discern-magnified-growth
Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients to achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having an office at global financial capital in the U.S. and sales consultants in the United Kingdom and Japan. Our client base includes players from across various business verticals in over 150 countries worldwide. We pride ourselves in catering to clients across the length and width of the horizon, from Fortune 500 enlisted companies to not-for-profit organizations, and startups looking to establish a foothold in the market. We excel in offering unmatched actionable market intelligence across various industry verticals, including chemicals and materials, healthcare, and food & beverages, consumer goods, packaging, semiconductors, software and services, Telecom, and Automotive. We offer syndicated market intelligence reports, customized research solutions, and consulting services.
To know more about us, please visit our website – www.coherentmarketinsights.com
Coherent Market Insights
1001 4th Ave, #3200 Seattle, WA 98154, U.S.
United States of America: +1-206-701-6702
United Kingdom: +44-020-8133-4027