Medical Plastics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Medical Plastics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global medical plastics market size reached US$ 25.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 38.3 Billion by 2028, exhibiting a growth rate (CAGR) of 6.7% during 2022-2028.

Medical plastics refer to various polymeric materials manufactured specifically for healthcare applications. They are commonly used for tamper-proof caps, vials, beakers, inhalations masks, bedpans, intravenous (IV) tubes, pill casings, surgical instruments, prosthetics and catheters. Some of the commonly used variants include silicon, synthetic rubber, polymer blends, high performance and engineering plastics. They are produced using hypoallergenic, biocompatible, medical-grade polypropylene and polycarbonate materials. They are shatter-proof, non-permeable, temperature, chemical and corrosion-resistant and can have frequent sterilization cycles. Medical plastics can also be used to transport biohazardous materials as they have antimicrobial surfaces and can aid in preventing the spread of pathogens.

Global Medical Plastics Market Trends:

Significant growth in the medical industry across the globe is one of the key factors creating a positive outlook for the market. Moreover, as the coronavirus disease (COVID-19) continues to spread across the globe, there has been a significant increase in the demand for single-use medical plastics and consumables in the healthcare centers. Hospitals, diagnostic centers and clinics are extensively using thermal scanners, ventilators, gloves, respirators and masks for the treatment of the patients. Additionally, various product innovations, such as the development of medical plastics with enhanced biocompatibility, are acting as other growth-inducing factors. These novel variants are more cost-effective and are used in targeted drug delivery systems for the controlled release of drugs in complex parts of the brain and to treat various degenerative diseases. Other factors, including extensive improvements in the healthcare infrastructure, especially in the developing economies, along with the rising geriatric population, are anticipated to drive the market further.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global medical plastics market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on material and application.

Breakup by Material:

Polyvinyl Chloride (PVC)

Polypropylene (PP)

Engineering Plastics

Polyethylene (PE)

Polystyrene (PS)

Silicones

Others



Breakup by Application:

Disposables

Drug Delivery Devices

Diagnostic Instruments

Catheters

Surgical Instruments

Others



Breakup by Region:

North America

United States

Canada

Asia-Pacific

China

Japan

India

South Korea

Australia

Indonesia

Others

Europe

Germany

France

United Kingdom

Italy

Spain

Russia

Others

Latin America

Brazil

Mexico

Others

Middle East and Africa



Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Arkema SA, BASF SE, Celanese Corporation, Covestro AG, The Dow Chemical Company, DuPont de Nemours Inc, Evonik Industries AG, Exxon Mobil Corporation, SABIC, Solvay S.A., The Lubrizol Corporation (Berkshire Hathaway Inc.) and Trinseo PLC.

Key Questions Answered in This Report

1. What was the size of the global medical plastics market in 2022?

2. What is the expected growth rate of the global medical plastics market during 2023-2028?

3. What has been the impact of COVID-19 on the global medical plastics market?

4. What are the key factors driving the global medical plastics market?

5. What is the breakup of the global medical plastics market based on the material?

6. What is the breakup of the global medical plastics market based on the application?

7. What are the key regions in the global medical plastics market?

8. Who are the key players/companies in the global medical plastics market?