Medical Plastics Global Market Report 2022: Growing Demand for Point of Care Diagnostics Driving Growth - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--The "Medical Plastics - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Medical Plastics Market to Reach $28.2 Billion by 2026
Plastics that are used in healthcare are typically medical-grade polymer materials that follow the regulatory standards precisely engineered for medical use or plastics that are used in consumer packaging. Medical plastics are expected to continue exhibiting encouraging growth due to increased use of medical devices, improvement in medical packaging, enhanced biocompatibility of high-end polymers, and growing importance of portable and compact devices.
The growing use of implants, rising aging population, and a shift towards disposable devices would additionally contribute to market growth. Furthermore, the increase in number of plastic-intensive complex procedures such as cosmetic surgeries, and advanced prosthetics and joint replacements are likely to fuel demand for medical plastics.
Technologies such as transplant medicine, tissue engineering, and specialized polymer coatings that enable the creation of complex design and drug coated devices for targeted drug delivery are expected to boost demand for medical plastics.
The U.S. Market is Estimated at $5.8 Billion in 2021, While China is Forecast to Reach $4 Billion by 2026
The Medical Plastics market in the U.S. is estimated at US$5.8 Billion in the year 2021. China, the world's second largest economy, is forecast to reach a projected market size of US$4 Billion by the year 2026 trailing a CAGR of 6.4% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.7% and 4.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 5.1% CAGR.
Standard Plastics Segment to Reach $10.9 Billion by 2026
Standard plastics such as Polyvinyl chloride and Polyolefin find application in medical disposables, containers, films, packaging, medical bags, catheters, implants, and lid stocks; blood bags and blood tubing among others. In the global Standard Plastics segment, USA, Canada, Japan, China and Europe will drive the 5.4% CAGR estimated for this segment.
These regional markets accounting for a combined market size of US$5.8 Billion in the year 2020 will reach a projected size of US$8.4 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1 Billion by the year 2026, while Latin America will expand at a 5.9% CAGR through the analysis period.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Impact of Covid-19 and a Looming Global Recession
- Global Surgery Cancellation Rate (%) Feb to May 2020
- Medical Plastics - Global Key Competitors Percentage Market Share in 2022 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
- MEDICAL PLASTICS: AN Introduction
- Plastics Used in Medical Devices
- Medical Plastics - A SWOT Analysis
- Types of Medical Plastics
- Market Limitations
- Recent Market Activity
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Medical Device Development Drives Opportunities in Plastics Market
- Growing Demand for Point of care Diagnostics Drive Gains
- Material Mix of the Global Microfluidics Market: 2020
- Plastics Aid Artificial Organs Revolutionize Medical Industry
- Engineered Resins Continue to Evolve
- PEEK Polymers Gain Importance in Orthopedic Implants
- Thermoplastic Elastomers Find Growing Use in Medical Industry
- Rising Popularity of TPEs for Medical Tubing Applications
- Antimicrobial Plastics for Medical Devices Gain Prominence
- Hospital-acquired infections (HAIs) by Site in the US
- Rise in Use of Bioresorbable Polymers in the Healthcare Space
- Growing Applications of Bioresorbable and Biodegradable Polymers
- Biodegradable Polymers in Nano Drugs: A Growing Market
- 3D and 4D Printing Technologies Unfurls Importance of Plastics
- 3D Printing Comes to Aid in Times of COVID-19 Crisis
- Growing Adoption of Medical Robots Creates Demand for High Strength Plastics
- Plastics Render Introduction of Medical Devices in Different Color Variants
- Disposables Widen Demand for Advanced Polymers
- Use of Plastics as a Skin Graft: A Novel Application
- Select Innovations
- Rise in Healthcare Expenditure to Drive Growth
- Demographic Trends Push the Market Ahead
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
REST OF EUROPE
REST OF ASIA-PACIFIC
REST OF LATIN AMERICA
UNITED ARAB EMIRATES
REST OF MIDDLE EAST
- BASF SE
- Celanese Corporation
- Covestro AG
- DuPont de Nemours, Inc.
- Eastman Chemical Company
- Evonik Industries AG
- GW Plastics, Inc.
- HMC Polymers Co., Ltd.
- NOLATO AB
- Avantor, Inc
- Orthoplastics Ltd.
- Saint-Gobain Performance Plastics
- TekniPlex Corporation
- The Lubrizol Corporation
- Trelleborg Sealing Solutions
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