Medical Plastic Market to reach USD 48.49 billion by 2030, growing at a CAGR of 7.1%, Size, Share, Trends

Medical plastics refers to plastic products precisely designed for applications in the healthcare and pharmaceutical industry. Medical plastics are chemical, temperature and corrosion-resistant which further makes them efficient for sterilization and enables easy storage of medical fluids. The manufacturing of medical plastics majorly uses polymers such as polypropylene and polycarbonate, which are used for MRI casings and surgical tools. Medical plastics are also used for surgical applications to stop the spread of infection by disposing of them once used.

The essential factors contributing to the growth of the medical plastic market in the forecast period of 2023 to 2030 include growing investment in the healthcare sector, mounting demand for advanced medical technologies & devices, and a growing aging population. In addition, growing disposable income and rapid change in the lifestyle of consumers will increase the demand for medical plastics. Along with this the growing use of medical plastics in medical packaging, medical instruments, and tools, is further propelling the market's growth.  

View Detailed Report: https://www.databridgemarketresearch.com/reports/global-medical-plastic-market

Data Bridge Market Research analyses that the medical plastic market which was USD 28.01 billion in 2022, is expected to reach USD 48.49 billion by 2030, growing at a CAGR of 7.1% during the forecast period of 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Opportunities

Rising use in the healthcare sector

Medical plastics are cheap, durable, and have great importance in the healthcare sector. In the healthcare sector medical plastics are used in varied medical devices. According to the data of the World Health Organization (WHO) up to 5.7 to 8.4 million deaths are occurred owing to poor use of medical devices, therefore increasing the use of medical plastics owing to the surging deaths. Thus, several countries are improving their healthcare facilities and opting for various medical plastics. Along with this, the rising medical infrastructure is increasing the demand for medical plastics globally. Thus, the rising use of healthcare facilities is boosting the market's growth.

Some of the major players operating in the medical plastic market are:

Exxon Mobil Corporation. (U.S.)

BASF SE (Germany)

DuPont. (U.S.)

Evonik Industries AG, (Germany)

Celanese Corporation (U.S.)

Covestro AG (Germany)

Solvay (Belgium)

The Lubrizol Corporation (U.S.)

Röchling SE & Co. KG (Germany)

TekniPlex. (U.S.)

Eastman Chemical Company (U.S.)

Saint-Gobain (France)

Trinseo. (U.S.)

Ensinger (Germany)

Fortune Medical Plastic Products Company (China)

Foster Corporation. (U.S.)

SABIC (Saudi Arabia)

LyondellBasell Industries Holdings B.V. (U.S.)

Wacker Chemie AG (Germany)

DSM (Netherlands)

Global Medical Plastic Market Scope

The medical plastic market is segmented on the basis of are type and application. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

Engineering Plastics

Acrylonitrile Butadiene Styrene (ABS)

Polycarbonate (PC)

Polymethylmethacrylate (PMMA)

Polyoxymethylene (POM)

Polyphenylene Oxide (PPO)

High Performance Plastics

Silicones

Standard Plastics

Commodity Plastics

Traditional Plastics

Polyethylene (PE)

Polypropylene (PP)

Polystyrene(PS)

Polyvinylchloride(PVC)

Others

Liquid Crystal Polymer (LCP)

Polyphenylsulfone (PPSU)

Polyethersulfone (PES)

Polyethylenimine (PEI)

Acrylates

TPE

TPU

Biodegradable Polymers

Synthetic Rubbers

Polymer Blends

Others

Application

Medical Device Packaging

Medical Components

Medical Disposable

Drug Delivery Devices

Medical Implants

Medical Instruments & Tools

Surgical Instruments

Diagnostic Instruments

Sterilization Trays

Anesthetic and Imaging Equipment

Syringes

Catheters

Dental Tools

Medical Bags

Prosthetics and Implants

Orthopedic Implant Packaging

Orthopedic Soft Goods

Wound Care

Cleanroom Supplies

BioPharm Devices

Mobility Aids

Sterilization and Infection Prevention

Tooth Implants

Denture Base Material

Others

Medical Trays

Lab Wares

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