Medical Plastics Market Drivers, Industry Survey and Business Development Analysis till 2025

Posted on 2020-11-12 by researchinsights in Healthcare // 0 Comments

Felton, Calif., USA, Nov. 12, 2020 — /EPR Network/ —

The global Medical Plastics Market size is expected to value at USD 33.6 billion by 2025. The market is subject to witness a substantial growth due to the growing demand for sterilized plastics form healthcare sector. Implementation and upgradation of infection prevention standards is one of the critical factors responsible for the growth of medical plastics industry of late.

The other factors such as rise in the number of surgical, hospital, and outpatient procedures are expected to boost the market growth over the forecast period. Globally, the medical plastics market is predicted to grow at CAGR of 5.7% in forecast period, providing numerous opportunities for market players to invest in research and development in the market.

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However, changes in prices of crude oil are considered as critical factors responsible for variations in the cost of materials like polyvinyl chloride (PVC), polyethylene (PE), polypropylene (PP), and polystyrene, thereby largely affecting market expansion during the forecast period. Additionally, increasing production in the Chinese market is predicted to fuel the price of raw material. Such factors are expected to negatively hamper market growth in the years to come.

Yet, rising healthcare expenditure by local governments and growing preference toward adoption of medical plastic by various clinics and healthcare professionals is predicted to boost market growth in the years to come. Furthermore, rising competition in the market is responsible for the development of innovative products, thus leading to market expansion.

Development of advanced grade plastics and their use in the healthcare sector is predicted to drive the growth of medical plastic industry in near future. Medical plastics are extensively integrated through-out supply chain network in healthcare sector. Growing adoption of the advanced grade plastics in all four stages in the supply chain network including end-use products that are largely utilized used by the governmental clinics, number of medical institutions & facilities, and private clinics, are predicted to amplify the growth of medical plastics market over the forecast period.

The key players in the medical plastics industry are Celanese Co., Eastman Chemical Co., Spectrum Plastics Group, Emco Industrial Plastics, Inc., Ensinger GmbH, Connecticut Plastics Co., and Dow Chemical Co.

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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

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