During the forecast period ranging from 2022-2032, the medical plastics market is expected to grow at a value of 7.8%. In 2021, this market was predicted to have a global valuation of US$ 46.5 Billion and is expected to reach a sum of US$ 106.23 Billion by 2032, according to a recent report published by Future Market Insights.
The market is going to face increasing demand owing to the increase in the growing geriatric population and various advancements in the field of medical science. From 2017 to 2021, the Medical plastics industry grew at a CAGR of 6.3%. Since medical plastic does not permeate and is shatter-proof, it is an excellent choice for transporting biohazardous materials.
Dangerous pathogens can be kept at bay by properly disposing of medical waste. Furthermore, these plastics have higher levels of safety and antimicrobial properties than other raw materials. Because medical plastics aid in decontaminating samples and securely containing them, the medical plastic market is gaining significant traction in the healthcare sector.
The growing elderly population in the United States, as well as the growing demand for home healthcare services, are driving the medical plastics demand in North America.
Competitive Landscape
The global medical plastics market is fragmented due to strong distribution networks and a wide range of products offered by large and small companies in emerging and developing economies.
The major growth strategies employed by market players to expand their regional presence and meet the growing demand for medical plastics in emerging economies between 2017 and 2022 were new product launches, agreements & collaborations, expansions & investments, and mergers & acquisitions.
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Key Companies Profiled
- Röchling SE & Co. KG
- Saint-Gobain Performance Plastics
- Nolato AB
- SABIC
- Eastman Chemical Company
- Orthoplastics Ltd
- Celanese Corporation
- Tekni-Plex
- Dow Inc
- Solvay S.A.
- Tekni-Plex
- Aran Biomedical Teoranta
- HMC Polymers Thailand
- Trelleborg AB
- Trinseo
- Avantor Inc.
- Evonik Industries AG
More Valuable Insights
Future Market Insights, in its new offering, presents an unbiased analysis of the global Medical plastics market, presenting historical analysis from 2017 to 2021 and forecast statistics for the period of 2022-2032.
The study reveals essential insights based on product type (Polyethylene (PE), Polycarbonate (PC), Polypropylene (PP), Polyphenylsulfone (PPSU), Liquid Crystal Polymer (LCP), Polyethylenimine (PEI), Polyethersulfone (PES), Polymethyl Methacrylate (PMMA) others), by application size (Medical Device Packaging Orthopedic Implant Packaging, Medical Components, Orthopedic Soft Goods, Cleanroom Supplies, Wound Care and Others), and across five major regions (North America, South America, Europe, Asia Pacific, and Middle East & Africa).