Medical Plastics Market Share 2022 | Share, Size Growth | Current Trends, Issues, Challenges | Forecast Till 2030
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 Share 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 share 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 share 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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