New York, NY, May 03, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Medical Plastics Market By Material (Polyethylene, Polypropylene, Engineering Plastics, Silicon, and PVC) and By Application (Diagnostic Instruments, Disposables, Syringes, Catheters, Implants, Surgical Instruments, and Drug Delivery Devices): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018-2025”. According to the report, the global medical plastics market was valued at around USD 17,205 million in 2018 and is expected to reach approximately USD 27,900 million by 2025, at a CAGR of around 7.03% between 2019 and 2025.
Medical plastics are used for making the outer bodies of non-reusable medical devices. An utmost feature of polymers is used to produce innovative and improved synthetic limbs and disposable devices that thrive in mitigating the jeopardy of contamination to patients. They are extremely supple, long-lasting, and economical. The sterility, performance, and quality of these tools is a significant factor for this market’s growth.
Browse through 35 Tables & 22 Figures spread over 110 Pages and in-depth TOC on “Global Medical Plastics Market: Type, Size, Share, Trends, Segments, Analysis and Forecast, 2018 – 2025”.
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The growing demand for medical devices at reasonable prices has augmented the need for medical devices in the medical industry. Stringent government rules have enforced healthcare providers to select biocompatible, environmentally-friendly, and clean materials to meet manufacturability, functionality, and safety necessities related to medical devices. Additionally, the increasing requirement for medical devices with a better shelf life, growing export, and import of medical instruments, and rising demand for non-reusable and sterilized instruments are also driving the global medical plastics market. The augmentation in the use of prosthetics and rise in the demand for non-magnetic tools around greatly magnetized medical devices, such as MRI, are also fuelling medical plastics market growth globally.
The global market of medical plastics is split into type and application. Based on type, the market is divided into polypropylene, silicon, engineering plastics, polyethylene, and PVC. The PVC (polyvinyl chloride) segment is projected to be the largest segment in the global medical plastics market in the future. PVC’s rising use in containers and tubing due to its chemical solidity, lethargic, and multipurpose nature. Moreover, the polyethylene segment is also forecasted to witness rapid growth in the future, owing to its growing consumption in the tubing, surgical cables, and orthopedic sutures.
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Based on application, the global market is categorized into diagnostic instruments, catheters, disposables, implants, surgical instruments, syringes, and drug delivery devices. The disposables segment is expected to grow substantially in the future, due to the rising demand for medical devices like dialysis disposables, disposable enemas, medical and cleaning gloves, etc.
North America is projected to lead the global medical plastics market over the forecast time period, owing to the growing number of assured entities in the U.S. and the rising subsequent demand for medical devices Furthermore, the North America medical plastics market is also fueled by the presence of leading companies involved in the manufacturing of progressive grade plastics in the market, such as Lubrizol, Celanese, Trinseo, etc. The governing agencies in the U.S. have displayed an augmented attraction for recycling plastics. The federal organizations in the U.S. spent USD 35.9 billion in research and development for the healthcare industry in 2015.
Browse the full “Medical Plastics Market By Material (Polyethylene, Polypropylene, Engineering Plastics, Silicon, and PVC) and By Application (Diagnostic Instruments, Disposables, Syringes, Catheters, Implants, Surgical Instruments, and Drug Delivery Devices): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018-2025” Report at https://www.zionmarketresearch.com/report/medical-plastics-market
Europe accounts for a sizeable share of the global medical plastics market owing to the rising government provision and increasing expenditure for improved healthcare infrastructure. The business is categorized by wide integration through numerous phases of the value chain. HELM AG is incorporated through all four phases in the value chain from raw material assembly to plastic construction and the developed end-use products used by the hospitals, private clinics, and healthcare institutions. Such polymers are controlled by several agencies across the world. In Europe, medical devices fall under the EU Council Directive (93/42/EEC), which delivers assistance for their consumption. The reformation of the European guidelines for these medical devices is expected to further fuel the market growth in this region.
The Asia Pacific is expected to dominate the global medical plastics market, owing to the developing technologies like minimally invasive medical procedures to manufacture improved medical devices. Additionally, the regional demand for medical devices has been growing due to the increasing awareness of early analysis and treatment of limitless diseases across this region.
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The Middle Eastern and African region is assessed to show noteworthy market growth in the future, owing to the growing consumption of plastics in diagnostic instruments, syringes, drug delivery systems, and catheters. Additionally, the increasing demand for polyethylene and polyvinyl chloride (PVC) by the healthcare industry is likely to drive the Latin American medical plastics market in the years ahead.
Some key players of the global medical plastics market are Becton & Dickinson, Du Pont, Saint-Gobain Performance Plastics, Exxon Mobil Corporation, Cyro Industries, BASF, TekniPlex Corporation, Dow Chemical, Bayer, Baxter International, and Alcan Packaging.
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This report segments the global medical plastics market as follows:
Global Medical Plastics market: Material Analysis
- Polyethylene
- Polypropylene
- Engineering Plastics
- Silicon
- PVC
Global Medical Plastics market: Application Analysis
- Diagnostic Instruments
- Disposables
- Syringes
- Catheters
- Implants
- Surgical Instruments
- Drug Delivery Devices
Global Medical Plastics market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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