Global Medical Plastic Market – Industry Trends and Forecast to 2030

Global Medical Plastic Market, By Type (Engineering Plastics, High Performance Plastics, Silicones, Standard Plastics, Commodity Plastics, Traditional Plastics, Others), Application (Medical Device Packaging, Medical Components, Medical Disposable, Drug Delivery Devices, Medical Implants, Medical Instruments and Tools, Prosthetics and Implants, Orthopedic Implant Packaging, Orthopedic Soft Goods, Wound Care, Cleanroom Supplies, Bio Pharm Devices, Mobility Aids, Sterilization and Infection Prevention, Tooth Implants, Denture Base Material, Others) - Industry Trends and Forecast to 2023 to 2030.

Medical Plastic Market Analysis and Size

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.  

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.

Medical Plastic Market Scope and Segmentation

Market Definition

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.

Global Medical Plastic Market Dynamics

Drivers

• Provides greater safety and efficiency

Medical plastic has many uses, long life, provides greater safety, and is efficient. Medical plastics provide greater safety than metal products as they are corrosion and shattering-resistant. Along with this some medical plastics can be sterilized and repeatedly used and they last longer. Along with this medical plastics are a safer option for transportation as they do not permeate and are shatter-proof. Furthermore, medical plastics ensure no foul play when used in tamperproof caps, therefore, driving the market’s growth.

• Technological advancements

There are several technological advancements in medical plastics such as point-of-care diagnostic instruments, the introduction of multi-purpose drug packaging, and device miniaturization. These technological advancements are fulfilling consumer demand which is increasing the demand for medical plastics. The new technology 3D printing technology is widely accepted by consumers globally. 3D printing is used for the creation of functional living tissue that can retain its shape along with this it is used to bind plastic polymers with living cells. Therefore, technological advancements are driving the market’s growth.

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.

• Long durability of medical plastics

The development of medical plastics is a long process that needs wide testing, quality control systems, and adherence to a continuously altering set of regional and global governing criteria for medical plastics and to maintain their durability. As there are several processes involved and the material used for manufacturing medical plastics is very durable. The durability of medical plastics further allows the instruments and tools made from medical plastics to be re-used for a long period which further boosts the market’s growth.

Restraints/Challenges

• High generation of plastics and medical waste

The increasing demand for medical plastics is constantly producing a lot of waste and plastics, which in turn is worsening environmental pollution. Medical plastics and the tools & instruments made from them are non-recyclable as well as are not treated distinctly to decrease or avoid the spread of communicable diseases. Along with this, the toxic elements present in medical plastics such as bisphenol has serious effects on infants which is a major restraint hindering the market’s growth.

• Stringent government regulations

Medical equipment and tools such as drug delivery devices, syringes, surgical devices, disposables, diagnostic components, IV bottles, and bags and implants are made from medical plastics. In most countries globally, medical devices are not allowed to come into the market without the implementation of safety requirements given by the respective countries' governments and governing agencies. There are strict product quality and marketing regulations as several chemicals are used in the manufacturing which is a major challenge hindering the market’s growth.

This medical plastic  market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the medical plastic market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions. Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Development

• On 2022, Solvay announced that its medical equipment made using Udel high-performance polysulfone (PSU) thermoplastic would be recycled at the end of their useful lives in a new sustainability initiative that the company has embarked on with Mitsubishi Chemical Advanced Materials (MCAM). The project is expected to combine MCAM's expertise in washing and mechanically purifying the material with Solvay's capacity to evaluate the chemistry of the end-of-life polymer in order to build a strong recycling approach that would offer customers with materials that fully comply with all standards.
• On 2021, Arkema announced bio-circular medical polymer for the manufacturing of surgical tools and plastics for medical devices. Advanced Bio-Circular (ABC) materials from Arkema have a successful track record in some of the world's most demanding applications. Furthermore, the new material is resistant to gamma, steam, ETO, and e-beam sterilization, which in turn is opening up new avenues and possibilities for the production of reusable surgical equipment and the replacement of petroleum-based polymers.

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)
• Polyetheretherketone (PEEK)
• 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

Global Medical Plastic Market Regional Analysis/Insights

The medical plastic market is analysed and market size insights and trends are provided by are type and application as referenced above.

The countries covered in the medical plastic market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Asia-Pacific dominates the medical plastics market due to the growing use in packaging, wound care, and mobility aids, surgical implants and other applications. Along with this the countries in the region such as China, India, and Singapore are raising their demand for high-quality medical apparatuses and devices which is driving the market’s growth in the region.

North America is expected to grow in the forecast period of 2023 to 2030 due to the growing elderly population in the US and the growing demand for home healthcare services in the region. Along with this the mounting demand of medical plastics in pharmaceutical packaging applications and significant growth of pharmaceutical industries in the countries such as Mexico and Canada boosting the market’s growth.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Global Medical Plastic Market Share Analysis

The medical plastic market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to medical plastic market.

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)