The Global Medical Plastic Market size is expected to
reach USD 33.6 billion by 2025,
according to a new report by Grand View Research, Inc. Rising demand for
sterilized plastics for use in the medical industry is expected to emerge as
the major factor driving market growth.
The market exhibits
an abundance of raw material supply with a large volume of raw material
production across North America, Europe, and Asia Pacific. The industry is
characterized by the consumption of premium quality high priced products used
in the manufacture of healthcare products such as catheters, surgical
instruments, and syringes.
The industry is
driven by the global population growth, increasing access to the consumers
towards healthcare services, primarily in the developing economies, and growing
substitution of the metal parts in surgical components. In addition,
development of advanced materials with improved strength and performance is
expected to benefit the market growth
The industry is
characterized by extensive regulations enforced regarding the performance of
the products in medical devices. In addition, the industry is expected to be
affected by the rejection of Polyvinyl chloride due to concerns regarding the
effects the product usage on human health.
Price volatility
triggered by spike and decline in the price levels of crude oil is major factor
impacting market growth. In addition, increasing demand for the product in
alternate applications is expected to pose a threat to the growth, though the
effect is likely to be subdued by the growing product adoption over the
forecast period.
Full Research Report on Global Medical Plastic Market
Analysis:
Further key findings from the report suggest:
- The demand for the product in medical
components such as syringes, surgical device components, gloves, and
catheter tubing is likely to drive the segment growth at a CAGR of 6.9% by
revenue from 2017 to 2025
- Polypropylene is expected to emerge as
the fastest growing plastic for medical packaging, registering a CAGR of
9.2% from 2017 to 2025 driven by superior barrier properties and ease of
sterilization
- The industry in Asia Pacific was
estimated to account for 24.5% of the global revenue in 2016 driven by the
growth in consumer healthcare spending coupled with high levels of medical
tourism primarily in China and India
- The companies in the industry are
involved in the production premium quality plastic composites used for specialized
applications in order to achieve a high degree of product differentiation
- The industry is witnesses a large number
of investments in research and development for the production of advanced
plastics. The development of premium engineered plastics is expected to
drive the market growth
View more reports of this category by Grand View Research
at: http://www.grandviewresearch.com/industry/plastics-polymers-and-resins
Grand View Research has segmented the Global Medical
Plastic Market by product, application, and region:
Application Outlook (Volume, Kilotons; Revenue, USD
Million, 2014 - 2025)
- Medical Device Packaging
- Polyvinyl Chloride
- Polypropylene
- PETG
- HDPE
- Polystyrene
- PEEK
- Others
- Medical Components
- Polyvinyl Chloride
- Polypropylene
- Polyethylene
- Polycarbonate
- PEEK
- ABS
- Polystyrene
- Engineering Plastics
- Others
- Orthopedic Implant Packaging
- Polyvinyl Chloride
- ABS
- PETG
- Polycarbonate
- Others
- Orthopedic Soft Goods
- Polypropylene
- Silicone
- ABS
- Polycarbonate
- PEEK
- Engineering Plastics
- Wound Care
- Polypropylene
- Thermoplastic Polyurethanes
- Others
- Cleanroom Supplies
- Polyvinyl Chloride
- Polypropylene
- PETG
- Polycarbonate
- PEEK
- ABS
- Polystyrene
- Engineering Plastics
- Others
- BioPharma Devices
- Polycarbonate
- Silicone
- Engineering plastic
- Others
- Mobility Aids
- ABS
- Polycarbonate
- PEEK
- Engineering plastic
- Sterilization and Infection Prevention
- Polypropylene
- Silicone
- ABS
- Polycarbonate
- PEEK
- Engineering plastic
- Tooth Implants
- Polycarbonate
- PEEK
- Others
- Denture Base Material
- PMMA
- Polycarbonate
- Polyamide
- Others
- Other Implants
- Polypropylene
- Silicone
- Polycarbonate
- PEEK
- Engineering Plastics
- Others
- Polyvinyl Chloride
- Polypropylene
- Polystyrene
- Silicone
- ABS
- Polycarbonate
- PEEK
- Engineering plastic
Region Outlook (Volume, Kilotons; Revenue, USD Million,
2014 - 2025)
- North America
- U.S.
- Europe
- Germany
- UK
- Italy
- France
- Asia Pacific
- China
- India
- Japan
- Central & South America
- Brazil
- Middle East & Africa
View press release of this research report by Grand View
Research:
About Grand View Research
Grand View Research,
Inc. is a U.S. based market research and consulting company, registered in the
State of California and headquartered in San Francisco. The company
provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more information: www.grandviewresearch.com