Medical Plastics Market Is Anticipated To Increase At A CAGR Of 5% by 2026

According to the latest industry analysis by Fact.MR, a market research and competitive intelligence provider, expanding at a CAGR of 5%, the global medical plastics market is projected to reach a valuation of US$ 27 billion by 2026.

Numerous macromolecules are used in the production of medical plastics. In the healthcare sector, these plastics are used to create reliable and secure devices and equipment. They are remarkably affordable, flexible, and long-lasting. Key drivers for market growth are the efficacy, sterility, and quality of these medical devices. Medical plastics are used in a wide variety of products, including catheters, disposables, syringes, implants, and drug delivery systems.

Wood has been replaced by engineering plastics in the manufacturing of surgical tool handles. These plastics can be used as a handle for surgical tools in place of wood or any other metal because they are non-hygroscopic materials.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐚 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭:https://www.factmr.com/connectus/sample?flag=S&rep_id=7606?PJ

The simplicity of cleaning plastics is another benefit. It can also be shaped according to specific and accurate dimensions. Plastics can be utilized for surgical tool handles because of their strong impact resistance and heat stability. Additionally, this material requires minimal upkeep and less regular sterilization.

Engineering plastics such as POM are replacing metal and wood in manufacturing because of their low cost, improved performance, non-hygroscopicity, and good machinability.

𝐊𝐞𝐲 𝐓𝐚𝐤𝐞𝐚𝐰𝐚𝐲𝐬 𝐟𝐫𝐨𝐦 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐭𝐮𝐝𝐲

• Worldwide sales of medical plastics are expected to increase at a CAGR of 5% from 2020 to 2026.
• The engineering plastics segment is expected to expand at a CAGR of 6% through 2026.
• North America & Asia Pacific will be lucrative regional markets for medical plastic manufacturers.
• Key market players are focusing on technological advancements to develop improved products

𝐖𝐢𝐧𝐧𝐢𝐧𝐠 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐲

The medical plastics business is highly competitive, with a handful of firms holding a lion's share of the market. A majority of businesses are investing heavily in research and development, especially to produce high-quality medical plastics.

Key suppliers of medical plastics utilize mergers and acquisitions as well as product portfolio expansion as primary business strategies.

• A highly innovative bio-circular medical polymer for the production of surgical instruments and plastics for medical devices was unveiled by Arkema on November 17, 2021.

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 𝐨𝐧 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 𝐟𝐨𝐫 𝐒𝐩𝐞𝐜𝐢𝐟𝐢𝐜 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐒𝐨𝐥𝐮𝐭𝐢𝐨𝐧𝐬:https://www.factmr.com/connectus/sample?flag=RC&rep_id=7606?PJ

𝐊𝐞𝐲 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐬 𝐂𝐨𝐯𝐞𝐫𝐞𝐝 𝐢𝐧 𝐌𝐞𝐝𝐢𝐜𝐚𝐥 𝐏𝐥𝐚𝐬𝐭𝐢𝐜𝐬 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡

• By Type :

• Standard Plastics
• Engineering Plastics
• High Performance Plastics (HPP)
• Silicone
• Others

• By Application :

• Medical Device Packaging
• Medical Components
• Orthopedic Implant Packaging
• Orthopedic Soft Goods
• Wound Care
• Cleanroom Supplies
• BioPharm Devices
• Mobility Aids
• Sterilization & Infection Prevention
• Tooth Implants
• Denture Base Materials
• Others

• By Region :

• North America
• Latin America
• Europe
• East Asia
• South Asia & Oceania
• MEA

𝐌𝐨𝐫𝐞 𝐕𝐚𝐥𝐮𝐚𝐛𝐥𝐞 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐨𝐧 𝐎𝐟𝐟𝐞𝐫

Fact.MR, in its new offering, presents an unbiased analysis of the global medical plastics market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2026.

The study divulges essential insights on the market on the basis of type (standard plastics, engineering plastics, high performance plastics (HPP), silicone, and others), and application (medical device packaging, medical components, orthopedic implant packaging, orthopedic soft goods, wound care, cleanroom supplies, BioPharm devices, mobility aids, sterilization & infection prevention, tooth implants, denture base materials, and others), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).

𝐆𝐞𝐭 𝐌𝐨𝐫𝐞 𝐈𝐧𝐟𝐨 : https://www.factmr.com/report/medical-plastics-market

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Fact.MR is a market research and consulting agency with deep expertise in emerging market intelligence. Spanning a wide range - from automotive & industry 4.0 to healthcare, technology, chemical, and materials, to even the most niche categories.

This release was published on openPR.