Medical Plastics Market Size, Share 2021| Major Company Analysis by Manufacturing Base & Product Type |on Growth Insights and Future Forecast to 2027
Medical plastics comprises of large number of macromolecules, which are used to design safe and reliable devices in the industry. It has various significant properties such as excellent flexibility, durability and it is also cost-effective. Furthermore it provide flexibility, strength, and sterility to the product.
The Global Medical Plastics Market has been driven
by the scope of its application in various sectors such as disposables,
implants, drug delivery devices, syringes, diagnostic instruments, catheters,
surgical instruments, and others. Moreover, it is estimated that the
disposables segment is set to witness the highest growth in the market due to
the growing consumption of medical devices over the forecast period.
Competitive Analysis:
Some of the major players functioning in the Global Medical Plastics Market are Röchling Group
(Germany), The Lubrizol Corporation (U.S.), Eastman Chemical Company (U.S.),
The Dow Chemical Company.(U.S.), Saint-Gobain Performance Plastics (France),
Solvay (Belgium), BASF SE(Germany), NUSIL(U.S.), Tekni-Plex (U.S.), and Celanese
Corporation (U.S.) among others.
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Market Segmentation:
The Global Medical Plastics Market is segregated
into type and application. On the basis of the type, the market is further
categorized into polyvinyl chloride, polypropylene, engineering, plastics,
polyethylene, polystyrene, and silicones. The polyvinyl chloride is the most
widely used type in the market due to its growing consumption in flexible
containers, medical sutures, and tubing. Moreover, exceptional chemical
stability, inert, and versatility are the major factors behind the popularity
of this segment. The polyethylene segment is set to drive the market on account
of its extensive consumption in surgical cables and orthopedic sutures during
the assessment period.
On the basis of the application, the market is
segmented into disposables, implants, drug delivery devices, syringes,
diagnostic instruments, catheters, and surgical instruments. Between these, the
disposables is the leading segment in the market and is anticipated to observe
a rapid growth due to an increased demand for Medical Devices such as
disposable enemas, dialysis disposables, medical and cleaning gloves, and
others. Additionally, it is predicted that the extraordinary features offered
by the product such as flexibility, transparency and resistance to the
electromagnetic waves are set to drive the Medical Plastics Market during the
assessment period.
Segmental Analysis:
The Global Medical Plastics Market is spanned across
five key regions: Asia Pacific, North America, Europe, Latin America, and the
Middle East & Africa. Among these, North America holds the major portion of
the global market and is anticipated to continue its dominance due to rising
demand for Medical Plastics Market in various applications. Countries such as
the U.S., Canada, and Mexico are the major players in this region. The Asia
Pacific region is estimated to witness a higher growth in China, Japan, and
India owing to increasing demand for lightweight materials in packaging, health
care aid, and medical instruments. The enactment of new rules and regulations
set by the European Union has driven the manufacturers to produce high standard
medical devices in the industry. Moreover, it is projected that the advancing
research & development of product in the market has propelled this region
to witness a significant growth in Germany, the U.K. and Italy.
The Middle East & Africa is estimated to observe
a significant growth due to increasing consumption of plastics in drug delivery
systems, syringes, diagnostic instruments, and catheters. Additionally, the
growing demand for polyvinyl chloride, polyethylene in the medical industry is
projected to boost the market in the Latin American region.
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