Medical Plastics Market Share | Industry Revenue, Business Growth, Demand and Applications Market Research Report 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 share 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 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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