Medical Plastics Market 2022 Global Insights and Business Scenario - Lubrizol, Ensinger, Celanese

Global "Medical Plastics Market" Research Report presents a complete overview and comprehensive explanation of the industry. It is an analytical study that focuses on target groups of customers covering historical, current, and future market revenue and growth rate for both the demand and supply side. The research analyst details the value chain and its distributor analysis.

Medical Plastics Market was valued at $24.1 billion in 2019, and is projected to reach $37.2 billion by 2027, growing at a CAGR of 5.6% from 2020 to 2027.

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News and Updates

In August 2018, SABIC collaborated with a consulting and product designing firm, Nottingham Spirk (Cleveland, US). This collaboration helped both the companies to commercialize multiple specialty plastics suitable for a broad array of industry verticals, such as medical, automotive, and aircraft.

In June 2019, BASF signed a Memorandum of Cooperation with SIBUR (Moscow, Russia) to develop innovative polymer solutions at PolyLab Research & Development Center located in Russia. This collaboration is targeted to develop an innovative range of high-performance solutions, particularly for long-term durable goods.

Market Overview

Growing investment in healthcare sector, coupled with aging population is expected to drive the market growth. For instance, in January 2021, PTA plastics invested over $2 million in capital equipment and buildings. This injection molding machines and finishing equipment will be used for medical plastics products. Additionally, rise in disposable income and change in consumer lifestyle will further propel the demand for medical plastics. As the demand for medical devices is gradually increasing in developed countries like U.S. and Canada from insured individuals, the medical plastics market is expected to witness steady growth. Furthermore, the fluctuation in global fuel price is another major factor influencing the market growth. However, toxic elements such as bisphenol A found in medical plastics have adverse effect on infants, which can negatively impact the medical plastics market growth.

The medical components application segment accounted for the highest revenue share in 2020 on account of the high consumption of superior-grade plastics in the production of catheters, syringes, containers, and surgical equipment. The requirement for easier sterilization coupled with the need for lightweight and high-strength products is expected to propel the product demand in the aforementioned applications. The medical device packaging segment is projected to witness significant growth over the forecast period. Rising cases of chronic diseases owing to the growing geriatric population are estimated to drive the demand for portable, lightweight, and compact medical devices, thereby supporting market growth. The enhanced mechanical and thermal properties offered by PVC as compared to traditional materials, such as metals and glass, are anticipated to open up new avenues for market growth.

APAC is projected to be the largest medical plastics market during the forecast period. This growth is attributed primarily to the industrial and urbanization in the region. In addition, APAC has immense growth potential driven by the increasing demand for a better healthcare system. APAC consists of some vast and rapidly growing economies, such as China, India, Indonesia, Malaysia, Vietnam, and Thailand. Across these economies, local governments are reforming regulations in fields such as IT integration, advanced materials, and others in the healthcare industry to increase the efficiency and efficacy of medical devices and related healthcare services. The major drivers for the medical device sector in APAC are changing reforms regarding value-based care in existing systems, ecosystem partnership across value-chain, increasing R&D, and digitalization of the healthcare system.

Medical Plastics Market Segmentation

The leading companies in the global Medical Plastics Market are Lubrizol, Ensinger, Celanese, Trinseo, BASF, Arkema, Biomerics, Dsm, Rochling

Medical Plastics Market Segmentation

This report segments the global Medical Plastics Market on the basis of Types are: 

Polyvinyl Chloride

Polypropylene

Plastic

Polyethylene

Silicone

On the basis of Application, the Global Medical Plastics Market is segmented into:

Implants

Disposables

Drug Delivery Devices

Syringes

Diagnostic Instruments

Medical Plastics Market Scope:
The research examines the key players in the global Medical Plastics Market in detail, focusing on their market share, gross margin, net profit, sales, product portfolio, new applications, recent developments, and other factors. It also sheds light on the vendor landscape, helping players to foresee future competitive movements in the global Medical Plastics Market business.

This report discusses many vital industry facets that influence Global Medical Plastics Market industry acutely which includes extensive study of competitive edge, latest advancements, region-wise industry environment, contemporary market and trends, leading market contenders, and current consumption tendency of the end user.

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Table of Content

1 Market Overview
1.1 Market Segment Overview
1.1.1 Product Definition
1.1.2 Market by Type
1.1.3 Market by Application
1.2 Global Market Size

2 Global Market by Company
2.1 Global Sales by Company
2.2 Global Price by Company

3 Global Market by Type
3.1 Global Sales by Type
3.2 Global Price by Type

4 Global Market by Application
4.1 Global Sales by Application
4.2 Global Price by Application

5 Global Trade
5.1 Export
5.2 Import

6 Key Manufacturers
6.1 Company Information
6.2 Product Specifications
6.3 Business Data (Capacity, Sales Revenue, SWOT Analysis, Price, Cost and Margin)
And Other…

Conclusively, Medical Plastics Market report is the realistic source for gaining the market research that will exponentially accelerate your business. The report gives the main origin and economic situation of the project value, benefit, limit, power generation, supply, demand, market growth speed and figures. The Medical Plastics Market industry report also presents New Task SWOT Examination, Speculative Achievability Study, and Risk Return Investigation.

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MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

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