Medical Plastic Market Growth Prospects Mapping, Size Analysis, Variables, Trends and Scope Study, 2025

Felton, Calif., USA, May. 07, 2021 — /EPR Network/ —

The global Medical Plastic Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.

Market Overview:

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.

Key Players:

  • Rochling Group
  • Nolato AB
  • GW Plastics Inc.
  • Saint Gobain Performance Plastics
  • Orthoplastics Ltd.
  • Eastman Chemical Company
  • Celanese Corporation
  • The Dow Chemical Company
  • Tekni-Plex Inc.
  • Solvay S.A.
  • HMC Polymers

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Growth Drivers:

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.

Rrising 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.

Rise in the per capita income in both – developed and developing economies is likely to boost demand of the medical plastics in coming years. Medical plastics are known for their enhanced product quality and cost-effectiveness, particularly in comparison with their counterparts, leading to growing demand for the product. Higher production rate and easy availability of medical plastics are expected to drive market demand in next decade. Increasing adoption of thermoforming polypropylene by pharmaceutical companies is attributed to factors such as high strength packaging and higher impact resistance for the packaged products. Other advantages of the thermoforming polypropylene include high durability and sanitization, thus escalating market demand, in the recent years.

The integration of plastic into modern medicine has gradually risen over the past decade. Medical plastics have substantially reduced medicine costs, and pain management. Advanced polymers are increasingly adopted to manufacture new and enhanced artificial limbs. Such polymers are vital for production of plastic disposable delivery devices that are critical in limiting the risk of infection to patients. Medical plastics directly affect patient’s health condition, thus saving more lives with their prolonged use.

Regional Outlook:

The medical plastics industry is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the adoption of the latest technologies in medicine and pharmaceutical sector and existence of well-established healthcare infrastructure. Asia-Pacific region is predicted to hold major market share in the medical plastic market with massive growth in forecast period. Countries such as India, China, and Japan are leading the Asia-Pacific’s market with rise in the healthcare spending, increase in incidences of lifestyle disorders and diseases, and significant investment by leading industry players considering potential growth opportunities in the region.

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