Medical Plastics Market Size, Share & Trends Analysis Report By Product (Polyethylene, Polycarbonate, Liquid Crystal Polymer, Polyethylenimine, Polymethyl Methacrylate, And Others), By Application, By Region, And Segment Forecasts, 2023 - 2030
Medical Plastics Market Growth & Trends
The global medical plastics market is anticipated to reach USD 90.1 billion by 2030, registering a CAGR of 7.7% from 2023 to 2030, according to a new report by Grand View Research, Inc. The market is primarily driven by the increasing demand for existing and new medical technologies, the aging population, and the growth in medical device applications. Plastics are increasingly becoming a vital part of medical devices as they offer better biocompatibility and optical clarity, and are economical to use.
Plastics exhibit good chemical resistance, have good sterilization capability and are biocompatible. Although, on the contrary, a very selective number of polymers qualify for application in this segment as a medical-grade plastic. Multiple regulatory frameworks are now in place globally that decide which grades of plastics qualify for medical applications following research on the effect of such plastics after they come in contact with body fluids, internal and external tissue, etc.
New product development, capacity development, and acquisitions are the three major strategies adopted by the companies to capture the market share. From 2019 to 2022, new product development was observed as the prime growth strategy adopted by the major medical plastic manufacturers such as SABIC, Solvay S.A., Celanese Corporation, Eastman Chemical Company, and Dow Inc. In addition, companies such as Solvay S.A., Rochling Group, Dow Inc, HMC Polymers, and Trelleborg also resorted to capacity expansion in order to increase their market share and revenue.
In November 2020, SABIC introduced new polycarbonate-based CRX copolymer resins at BIOMEDigital 2020. This new product innovation is intended to reduce the premature failure from environmental stress cracking (ESC) in medical equipment housings and devices.
The market also saw numerous acquisitions by major players. For example, Nolato AB acquired GW Plastics Inc in September 2020, Saint-Gobain Life Sciences acquired MS Techniques and Transluminal in September 2020, Tekni-Plex Healthcare acquired precision extrusion manufacturer Johnson Plastic Group in October 2021, Proxy Biomedical Ltd and Aran Biomedical were acquired by Integer holdings in April 2022.
Medical Plastics Market Report Highlights
Medical components application is expected to witness the highest CAGR of 8.5% over the forecast period in terms of revenue. The significant CAGR growth is attributed to the increasing home healthcare services and growing health expenditure.
Polyphenylsulfone dominated the product segment and accounted for more than 51.0% of the overall revenue in 2021. This high share is attributed to its properties of high chemical and heat resistance and suitable material for metal replacement in medical applications.
North America accounted for more than 33.0% of the overall revenue in 2021. It is expected to witness a growth rate of 7.7% from 2023 to 2030.
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Chapter 1 Methodology and Scope
1.1 Research Methodology
1.2 Research scope and assumptions
1.3 Information Procurement
1.3.1 Purchased Database
1.3.2 GVR’s Internal Database
1.3.3 Secondary Sources
1.3.4 Third Party Perspective
1.3.5 Primary Research
1.4 Information Analysis
1.4.1 Data Analysis Models
1.5 Market Formulation and Data Visualization
1.6 Data Validation and Publishing
1.7 List of Abbreviations
Chapter 2 Executive Summary
2.1 Segment outlook
2.2 Market segmentation and scope
Chapter 3 Medical Plastics Market Variables, Trends, & Scope
3.1 Market lineage outlook
3.1.1 Global Plastics market
3.1.2 Medical Plastics market
3.2 Penetration & Growth Prospect Mapping
3.3 Industry Value Chain Analysis
3.3.1 Raw material trends
3.3.2 Manufacturing trends
3.4 Technology overview
3.4.1 Manufacturing technology
3.5 Key Purchasing Criteria, by Plastics
3.6 Vendor selection criteria analysis
3.7 Regulatory framework
3.7.1 Restriction of Hazardous Substances (RoHS) Directive, 2011/65/EU
3.7.2 Packaging and Packaging Waste Directive, 94/62/EC
3.7.3 REACH Regulation, No. 1907/2006
3.7.4 CE mark
3.7.5 Proposed regulation in Europe
3.7.6 FDA
3.8 Medical Plastics Market Dynamics
3.8.1 Market driver analysis
3.8.2 Market restraint analysis
3.8.3 Industry Challenges
3.9 Business environment analysis: Medical Plastics market
3.9.1 Industry analysis - Porter’s analysis
3.9.2 PESTEL Analysis
3.10 Price Trend Analysis, by Resin, 2021 (USD/Kg)
Chapter 4 Medical Plastics Market: Product Estimates & Trend Analysis
4.1 Product Movement Analysis & Market Share, 2021 - 2030
4.2 Polyethylene (PE)
4.2.1 Medical Plastics Market Estimates and Forecasts, By polyethylene, 2019 - 2030 (Kilotons) (USD Million)
4.3 Polypropylene (PP)
4.3.1 Medical Plastics Market Estimates and ForecastS, By Polypropylene, 2019 - 2030 (Kilotons) (USD Million)
4.4 Polycarbonate (PC)
4.4.1 Medical Plastics Market Estimates and Forecasts, By Polycarbonate, 2019 - 2030 (Kilotons) (USD Million)
4.5 Liquid Crystal Polymer (LCP)
4.5.1 Medical Plastics Market Estimates and Forecasts, By liquid crystal polymer, 2019 - 2030 (Kilotons) (USD Million)
4.6 Polyphenylsulfone (PPSU)
4.6.1 Medical Plastics Market Estimates and Forecasts, by POLYPHENYLSULFONE, 2019 - 2030 (Kilotons) (USD Million)
4.7 Polyether sulfone (PES)
4.7.1 Medical Plastics Market Estimates and Forecasts, By polyethersulfone, 2019 - 2030 (Kilotons) (USD Million)
4.8 Polyethylenimine (PEI)
4.8.1 Medical Plastics Market Estimates and Forecasts, By polyethylenimine, 2019 - 2030 (Kilotons) (USD Million)
4.9 Polymethyl Methacrylate (PMMA)
4.9.1 Medical Plastics Market Estimates and Forecasts, By polymethyl methacrylate, 2019 - 2030 (Kilotons) (USD Million)
4.10 Others
4.10.1 Medical Plastics Market Estimates and Forecasts, By others, 2019 - 2030 (Kilotons) (USD Million)
Chapter 5 Medical Plastics Market: Application Estimates & Trend Analysis
5.1 Application Movement Analysis & Market Share
5.2 Medical Device Packaging
5.2.1 Medical Plastics Market Estimates and Forecasts, By Medical Device Packaging, 2019 - 2030 (Kilotons) (USD Million)
5.3 Medical Components
5.3.1 Medical Plastics Market Estimates and Forecasts, By Medical Components, 2019 - 2030 (Kilotons) (USD Million)
5.4 Orthopedic Implant Packaging
5.4.1 Medical Plastics Market Estimates and Forecasts, By orthopedic Implant packaging, 2019 - 2030 (Kilotons) (USD Million)
5.5 Orthopedic Soft Goods
5.5.1 Medical Plastics Market Estimates and Forecasts, By Orthopedic Soft Goods, 2019 - 2030 (Kilotons) (USD Million)
5.6 Wound Care
5.6.1 Medical Plastics Market Estimates and Forecasts, By wound care, 2019 - 2030 (Kilotons) (USD Million)
5.7 Cleanroom Supplies
5.7.1 Medical Plastics Market Estimates and Forecasts, By Cleanroom Supplies, 2019 - 2030 (Kilotons) (USD Million)
5.8 BioPharm Devices
5.8.1 Medical Plastics Market Estimates and Forecasts, By biopharm devices, 2019 - 2030 (Kilotons) (USD Million)
5.9 Mobility Aids
5.9.1 Medical Plastics Market Estimates and Forecasts, By Mobility Aids, 2019 - 2030 (Kilotons) (USD Million)
5.10 Sterilization and Infection Prevention
5.10.1 Medical Plastics market estimates and forecasts, in sterilization and infection prevention, 2019 - 2030 (Kilotons) (USD Million)
5.11 Tooth Implants
5.11.1 Medical Plastics market estimates and forecasts, in tooth implants, 2019 - 2030 (Kilotons) (USD Million)
5.12 Denture Base Material
5.12.1 Medical Plastics market estimates and forecasts, in denture base material, 2019 - 2030 (Kilotons) (USD Million)
5.13 Other Implants
5.13.1 Medical Plastics market estimates and forecasts, in other implants, 2019 - 2030 (Kilotons) (USD Million)
5.14 Others
5.14.1 Medical Plastics market estimates and forecasts, in others, 2019 - 2030 (Kilotons) (USD Million)
Chapter 6 Medical Plastics Market: Region Estimates & Analysis
6.1 Medical Plastics Market: Region Movement Analysis
6.2 North America
6.2.1 North America Medical Plastics market estimates and forecasts, 2019 - 2030 (Kilotons) (USD Million)
6.2.2 North America Medical Plastics market estimates and forecasts, by Product, 2019 - 2030 (Kilotons) (USD Million)
6.2.3 North America Medical Plastics market estimates and forecasts, by application, 2019 - 2030 (Kilotons) (USD Million)
6.2.4 U.S.
6.2.5 Canda
6.2.6 Mexico
6.3 Europe
6.3.1 Europe Medical Plastics market estimates and forecasts, 2019 - 2030 (Kilotons) (USD Million)
6.3.2 Europe Medical Plastics market estimates and forecasts, by product, 2019 - 2030 (Kilotons) (USD Million)
6.3.3 Europe Medical Plastics market estimates and forecasts, by application, 2019 - 2030 (Kilotons) (USD Million)
6.3.4 Germany
6.3.5 UK
6.3.6 Italy
6.3.7 France
6.4 Asia Pacific
6.4.1 Asia pacific Medical Plastics market estimates and forecasts, 2019 - 2030 (Kilotons) (USD Million)
6.4.2 Asia pacific Medical Plastics market estimates and forecasts, by Product, 2019 - 2030 (Kilotons) (USD Million)
6.4.3 Asia pacific Medical Plastics market estimates and forecasts, by application, 2019 - 2030 (Kilotons) (USD Million)
6.4.4 China
6.4.5 India
6.4.6 Japan
6.5 Central & South America
6.5.1 Central & South America Medical Plastics market estimates and forecasts, 2019 - 2030 (Kilotons) (USD Million)
6.5.2 Central & South America Medical Plastics market estimates and forecasts, by Plastic Product, 2019 - 2030 (Kilotons) (USD Million)
6.5.3 Central & South America Medical Plastics market estimates and forecasts, by application, 2019 - 2030 (Kilotons) (USD Million)
6.5.4 Brazil
6.6 Middle East & Africa
6.6.1 Middle East & Africa Medical Plastics market estimates and forecasts, 2019 - 2030 (Kilotons) (USD Million)
6.6.2 Middle East & Africa Medical Plastics market estimates and forecasts, by Plastic Product, 2019 - 2030 (Kilotons) (USD Million)
6.6.3 Middle East & Africa Medical Plastics market estimates and forecasts, by application, 2019 - 2030 (Kilotons) (USD Million)
6.6.4 Saudi Arabia
Chapter 7 Medical Plastics Market - Competitive Analysis