The medical plastics global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Medical Plastics Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The medical plastics market size has grown strongly in recent years. It will grow from $32.58 billion in 2023 to $35.75 billion in 2024 at a compound annual growth rate (CAGR) of 9.7%. The growth in the historic period can be attributed to biocompatibility and sterilization, aging population, minimally invasive procedures, global health preparedness, customized implants.
The medical plastics market size is expected to see rapid growth in the next few years. It will grow to $52.36 billion in 2028 at a compound annual growth rate (CAGR) of 10.0%. The growth in the forecast period can be attributed to patient-centric care, lightweight and durable materials, single-use devices, cost-efficiency, sustainable and eco-friendly plastics. Major trends in the forecast period include 3d printing advancements, nanotechnology integration, smart and connected devices, advanced materials, medical device innovation.
Order your report now for swift delivery @
Scope Of Medical Plastics Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Medical Plastics Market Overview
Market Drivers –
The advancing medical plastic technology is significantly contributing to the growth of the medical plastics market. In the past few years, advancements in medical plastics technology such as injection molding, insert molding, and others along with ideas and new materials have gained popularity in the healthcare sector. Medical plastics are neutral and do not react with the physical or chemical properties of products packed or when they are implanted in the human body. Also, technique such as 3D printing has gained the popularity in the medical plastics technology. As medical plastic technology advances, there will be a significant increase in the production of medical plastics because of the advantages these advancements provide to manufacturers. For instance, according to the American Hospital Association, employing 3D anatomic models as surgical guides decreased surgery time by 62 minutes, saving $3,720 per case. Also, using 3D-generated anatomical models as guidance decreased the length of complicated surgeries by 1.5 to 2.5 hours. Therefore, the advancing medical plastic technology will propel the growth of the medical plastics market.
Market Trends –
Elimination single-use plastic is a key trend being followed by the companies operating in the medical plastics market due to risk of environmental harm caused by single-use. Eliminating single-use plastics is helpful to save the environment. Companies are focused on eliminating single-use plastics by introducing products that are made from eco-friendly materials and can be recycled. By launching these products, companies can increase their brand value, gain a competitive edge in the market, and capture additional market share. According to a firm that works to inspire positive change for people and the planet, Trvst Ltd., over 5 million tons of waste is generated by the hospitals each year, in which, around 25% of waste is contributed by plastic. For instance, EnviroPak LLC, a US-based manufacturer offers reusable steam sterilization pouch systems for infection control in healthcare and industries. It offers the FDA-approved EnviroPouch sterilization pouches to reduce the use of single-use plastic in hospitals as an alternative to single-use sterilization pouches. In addition, NewGen Surgical, a US-based medical device company, offers a 100% plant-based clinically designed kit packaging tray which can be recycled with paper. Additionally, it can reduce carbon-dioxide emission by 55% as compared to traditional foam trays and is easily biodegradable.
The medical plastics market covered in this report is segmented –
1) By Type: Polyvinyl Chloride (PVC), Polypropylene (PP), Engineering Plastics, Polyethylene (PE), Polystyrene (PS), Silicones, Other Types
2) By Process Technology: Extrusion, Injection Molding, Blow Molding, Other Process Technologies
3) By Application: Medical Disposables, Medical Instruments, Prosthetics & Implants, Drugs Packaging, Other Applications
Get an inside scoop of the medical plastics market, Request now for Sample Report @
Regional Insights –
Asia-Pacific was the largest region in the medical plastics market in 2023. The regions covered in the medical plastics market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major companies operating in the medical plastics market include BASF SE, Celanese Corporation, Solvay S.A., Arkema SA, Eastman Chemical Company, Dow Inc., Saudi Arabia’s Basic Industries Corporation, Evonik Industries AG, Röchling SE & Co. KG, Nolato AB, Saint-Gobain Performance Plastics, Orthoplastics Ltd., Tekni-Plex Inc., HMC Polymers Co. Ltd., ARAN BIOMEDICAL TEORANTA, Trelleborg AB, Raumedic AG, Ensinger GmbH, RTP Company Inc., Foster Corporation, PolyOne Corporation, DSM Engineering Plastics Pvt. Ltd., Covestro AG, DuPont de Nemours Inc., Exxon Mobil Corporation, Lubrizol Corporation, Trinseo LLC, Mitsubishi Chemical Corporation, Sumitomo Chemical Co. Ltd., Kuraray Co. Ltd.
Table of Contents
1. Executive Summary
2. Medical Plastics Market Report Structure
3. Medical Plastics Market Trends And Strategies
4. Medical Plastics Market – Macro Economic Scenario
5. Medical Plastics Market Size And Growth
…..
27. Medical Plastics Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: [email protected]
Follow Us On:
Twitter: https://twitter.com/tbrc_info
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
