Overview and Scope
High-performance medical plastics are plastics that have high temperature and chemical resistance, biocompatibility, low friction, chemical inertness, and radiation resistance which makes them ideal for medical uses in medical devices and Equipment. They are appropriate for use in a variety of medical devices and equipment due to their special properties, which include biocompatibility, low friction, chemical inertness, non-porosity, and radiation resistance. They are used to make various pumps and valves, medical devices, lab instruments, implants, etc.
Sizing and Forecast
The high performance medical plastics market size has grown strongly in recent years. It will grow from $0.96 billion in 2023 to $1.04 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth in the historic period can be attributed to increased demand for minimally invasive procedures, regulatory compliance, growing aging population, advancements in healthcare infrastructure, increasing chronic diseases.
The high performance medical plastics market size is expected to see strong growth in the next few years. It will grow to $1.45 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%. The growth in the forecast period can be attributed to growth in emerging markets, increasing focus on sustainability, growing demand for biocompatible materials, shift towards home healthcare, advancements in material biocompatibility. Major trends in the forecast period include advancements in nanotechnology, focus on sustainability, customization and personalization, precision medicine trends.
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Segmentation & Regional Insights
The high performance medical plastics market covered in this report is segmented –
1) By Type: Fluoropolymers (FP), High Performance Polyamides (HPPA), Polyaryletherketones (PAEK), Polyphenylene Sulfides (PPS), Polyetherimide (PEI), Other Types
2) By Raw Material: Polycarbonate, Polypropylene, Polysulfone, Polytetrafluoroethylene, Polyphenylene sulfide, Other Raw Materials
3) By Application: Medical Equipment and Tools, Medical Supplies, Drug Delivery, Prosthesis and Implants, Therapeutic System, Other Apllications
Top Major Players
Atlas Copco Group
Ingersoll Rand Inc.
Hitachi Ltd.
Kaeser Compressors Inc.
Elgi Equipments Ltd.
North America was the largest region in the high performance medical plastics market share in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the high performance medical plastics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
Growing healthcare expenditure in emerging economies is expected to propel the growth of the high-performance medical plastics market going forward. Emerging economies such as India and China are increasing their spending on healthcare due to the need to improve healthcare infrastructure, improve public health and the recent COVID-19 pandemic. Increased spending allows the population to go for implants and prosthetic procedures which are made from high-performance medical plastics. This in turn increases the use of medical plastics which drives the high-performance medical plastics market forward. For instance, according to a survey of global medical insurers conducted by Willis Towers Watson Public Limited Company, a British-American company providing insurance services, the healthcare benefit cost increased from 8.2% in 2021, to 8.8% in 2022, and is expected to grow again in 2023 to a high global average of 10%. Therefore, the growing health expenditure in emerging economies is driving the growth of the High-performance medical plastics market.
Key Industry Players
Major companies operating in the high performance medical plastics market report are Atlas Copco Group, Ingersoll Rand Inc., Hitachi Ltd., Kaeser Compressors Inc., Elgi Equipments Ltd., Howden UK Limited, Kobelco Construction Machinery America LLC, IHI Rotating Machinery Engineering Co. Ltd., Anest Iwata Corporation, Fu Sheng Industrial Co. Ltd., Eaton Compressor & Fabrication Inc., Rotorcomp Verdichter GmbH, MAN Energy Solutions SE, Bauer Kompressoren GmbH, Boge Kompressoren Otto Boge GmbH & Co. KG, Baker Hughes a GE company, Siemens AG, KAESER Kompressoren SE, Aerzener Maschinenfabrik GmbH, Sullivan-Palatek Inc., VMAC Global Technology Inc., Rogers Machinery Company Inc., Gardner Denver Holdings Inc., Quincy Compressor LLC, Sullair LLC, Mattei Compressors Inc., Mitsui Seiki (U.S.A.) Inc., Hanbell Precise Machinery Co. Ltd., GHH RAND GmbH, Ceccato Aria Compressa S.r.l., Mark Compressors S.p.A., Hertz Kompressoren GmbH, Airpol Inc., ABAC S.p.A., Worthington Creyssensac S.A., Alup Kompressoren GmbH, Bolaite (Beijing) Compressor Co. Ltd., Fuda Air Compressor Co. Ltd., Kaishan Compressor Co. Ltd., Denair Compressor Co. Ltd.
The high performance medical plastics market report table of contents includes:
1. Executive Summary
2. High Performance Medical Plastics Market Characteristics
3. High Performance Medical Plastics Market Trends And Strategies
4. High Performance Medical Plastics Market – Macro Economic Scenario
5. Global High Performance Medical Plastics Market Size and Growth
…………………………
31. Global High Performance Medical Plastics Market Competitive Benchmarking
32. Global High Performance Medical Plastics Market Competitive Dashboard
33. Key Mergers And Acquisitions In The High Performance Medical Plastics Market
34. High Performance Medical Plastics Market Future Outlook and Potential Analysis
35. Appendix
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