The Global Medical Plastics Market Was Valued At US$ 22.2 Billion In 2017, And Estimated To Reach To Reach USD 37.5 Billion By 2026, Growing At A CAGR Of 6.01% During The Forecast Period.
Medical plastics include fibers and resins such as polyvinyl chloride, polypropylene, polyethylene, polystyrene, and acrylonitrile butadiene among others. These medical plastics offer lighter weight, better biocompatibility, and lower cost.
Some applications of medical plastics include vessel support, plastic pill casings, flexible plastic prosthesis, insulin pens, IV tubes, eye patches, surgical and examination gloves, inflatable splints, inhalation masks, tubing for dialysis, and disposable gowns among others. Medical plastics are increasingly being used in development of prosthetic devices for higher flexibility, comfort and mobility.
The demand for medical plastics has increased over the years owing to increasing demand for healthcare services from the geriatric population, and significant growth in the global healthcare industry. The increasing home healthcare services and self-medication have resulted in the Medical Plastics market growth.
The growing demand for minimally invasive medical procedures, delivery of high quality healthcare services, and growing investments in the healthcare industry are other factors supporting market growth. Growing demand from emerging economies, and technological advancements are factors expected to provide numerous growth opportunities for Medical Plastics market during the forecast period.
The report provides an extensive qualitative and quantitative analysis of the market trends and growth prospects of the Global Medical Plastics Market, 2017-2026. The Medical Plastics market report comprises a detailed geographic distribution of the market across North America, Europe, Asia-Pacific, Latin America, and MEA.
North America is further segmented into U.S., Canada, and Mexico. Europe is divided into Germany, UK, Italy, France, and Rest of Europe.
Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific.
North America Medical Plastics market generated the highest revenue in the market in 2017 owing to increasing demand of Medical Plastics from countries such as U.S., and Canada. Growing geriatric population along with significant investments in the healthcare industry has resulted in increasing adoption of medical plastics in the region.
Competitive Landscape and Key Vendors
The global Medical Plastics market is characterized by the presence of well-diversified international and small and medium-sized vendors. These companies are consistently launching new products to enhance their offerings in the market.
With the advancement of technologies, companies are innovating and introducing new customized products to cater the growing needs of the customers. Leading companies are also acquiring other companies, and enhancing their product offerings to improve their market reach.
Acquisitions enable key players to increase their market potential in terms of geographic expansion and expansion of customer base.
The leading companies profiled in the Medical Plastics market report include E.I. du Pont de Nemours and Company, HMC Polymers, Specialty Silicone Fabricators, Inc., Trinseo S.A., GW Plastics Inc., Eastman Chemical Company, The Dow Chemical Company, Tekni-Plex Inc., Orthoplastics Ltd., and Saint Gobain Performance Plastics.
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- Standard Plastics
- Engineering Plastics
- Medical Device Packaging
- Medical Components
- BioPharm Devices
- Mobility Aids
- Sterilization and Infection Prevention
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