The global medical plastics industry expects this to be the case

Dublin, Oct. 19, 2022 (GLOBE NEWSWIRE) — The “Global Medical Plastics Market, by Type, Application and Region – Forecast and Analysis 2022-2028” Report has been added ResearchAndMarkets.com Offer.

The size of the global medical plastics market was estimated at US$45.89 billion in 2021 and is expected to reach US$76.13 billion by 2028, growing at a CAGR of 7.50% over the forecast period (2022 – 2028).

Medical plastics are polymers that can be molded into almost any shape. Medical plastics often use thermoplastic compounds. Once heated, thermoplastics are easily shaped. Medical grade polymers are heat and chemical resistant. Some of the most commonly used medical grade plastics are polycarbonate, polypropylene, and polyethylene. It can be used to manufacture medical devices and equipment such as medical and surgical tubing.

The global medical plastics market is expected to grow due to increasing investment in healthcare and rising consumer health concerns. Furthermore, increasing disposable income and a change in consumer lifestyle will drive the market growth in the forecast time frame.

Segments covered in this report

The global Medical Plastics industry is segmented on the basis of Type, Application, and Region. Based on type, the global medical plastics market is segmented into engineering plastics, HPP, commodity plastics, silicone and others. Based on application, the global medical plastics market is segmented into medical disposables, prosthetics, medical instruments and tools, drug delivery, and others. Based on region it is categorized into: North America, Europe, Asia Pacific, South America and MEA.

driver

The significant growth of the medical companies across the world is one of the main factors behind the positive outlook of the market. As COVID-19 spreads around the world, demand for single-use medical plastics and supplies in healthcare facilities has skyrocketed. Thermal scanners, ventilators, gloves, ventilators and masks are widely used to treat patients in hospitals, diagnostic centers and clinics. Numerous product developments such as the development of medical polymers with improved biocompatibility are also growth drivers. Other factors driving industry growth include extensive improvements in healthcare infrastructure, particularly in developing countries, as well as an increasing geriatric population, which is expected to drive the market even further.

restraint

Pollution and increasing waste are the factors limiting the growth of the industry. The human population is constantly growing, which increases the demand for plastics. These products are responsible for the continued increase in plastic production and waste generation, both of which contribute to increased pollution and stifle industrial progress. These are typically non-recyclable materials that are individually treated to prevent the spread of infection. Medical waste that is improperly disposed of causes a variety of pollution, including water and soil degradation.

market trends

Price volatility for polyvinyl chloride (PVC), polyethylene (PE), polypropylene (PP) and polystyrene (PS) has been exacerbated by swings in oil (PS) prices. Price volatility in the market has also been impacted by capacity expansions and contractions. In addition, rising overproduction in the Chinese market is expected to impact commodity prices. Furthermore, the market is expected to grow during the forecast period owing to the enforcement and updating of various infection prevention regulations, as well as an increase in the number of surgical, hospital and outpatient procedures.

companies mentioned

  • SABIC (Saudi Arabia)
  • BASF SE (Germany)
  • Celanese Corporation (US)
  • Eastman Chemical Co. (USA)
  • Saint-Gobain SA (France)
  • Wacker Chemie AG (Germany)
  • Evonik AG (Germany)
  • Solvay SA (Belgium)
  • Arkema SA (France)
  • Covestro AG (Germany)
  • Ensinger Group (Germany)
  • Lubrizol Corp. (UNITED STATES)
  • Trinseo (USA)

For more information about this report, see https://www.researchandmarkets.com/r/isy64p


        

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