Medical Plastics Market Size, Top Global Key Players Analysis till 2023- BASF SE, Solvay, Röchling Group, The Dow Chemical Company, Saint-Gobain Performance Plastics

Market Overview:

Medical Plastics comprises of large number of macromolecules, which are used to design safe and reliable devices in the industry. It has various significant properties such as excellent flexibility, durability and it is also cost-effective. Furthermore it provide flexibility, strength, and sterility to the product.

The global medical plastics market has been driven by the scope of its application in various sectors such as disposables, implants, drug delivery devices, syringes, diagnostic instruments, catheters, surgical instruments, and others. Moreover, it is estimated that the disposables segment is set to witness the highest growth in the market due to the growing consumption of medical devices over the forecast period.

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Major Key Players:
The Major Players operating in the Medical Plastics Market are:

• Röchling Group (Germany),
• The Lubrizol Corporation (U.S.),
• Eastman Chemical Company (U.S.),
• The Dow Chemical Company (U.S.),
• Saint-Gobain Performance Plastics (France),
• Solvay (Belgium),
• BASF SE (Germany),
• NUSIL(U.S.),
• Tekni-Plex (U.S.),
• Celanese Corporation (U.S.)

Market Segmentation:
The Global Medical Plastics Market is categorized on the basis of Type, Application:

On The Basis Of Type-
• Natural,
• Synthetic,
• Hybrid

On The Basis Of Application-
• Agriculture,
• Health Care and Hygiene,
• Contact Lenses,
• Drug Delivery Systems,
• Tissue Engineering

Regional Analysis:
Geographically, Medical Plastics Market is segmented across Five Regions in the world namely:

• Asia Pacific,
• North America,
• Europe,
• Latin America,
• Middle East & Africa.

North America holds the major portion of the global market and is anticipated to continue its dominance due to rising demand for medical plastics market in various applications. Countries such as the U.S., Canada, and Mexico are the major players in this region.

The Asia Pacific region is estimated to witness a higher growth in China, Japan, and India owing to increasing demand for lightweight materials in packaging, health care aid, and medical instruments. The enactment of new rules and regulations set by the European Union has driven the manufacturers to produce high standard medical devices in the industry. Moreover, it is projected that the advancing research & development of product in the market has propelled this region to witness a significant growth in Germany, the U.K. and Italy.

The Middle East & Africa is estimated to observe a significant growth due to increasing consumption of plastics in drug delivery systems, syringes, diagnostic instruments, and catheters. Additionally, the growing demand for polyvinyl chloride, polyethylene in the medical industry is projected to boost the market in the Latin American region.

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