High Performance Medical Plastics Market worth $1,242 million by 2026 | Key players Solvay SA (Belgium), SABIC (UAE), Mitsubishi Chemical Corporation (Japan), Evonik Industries AG (Germany).

According to recent market research the "High Performance Medical Plastics Market by Type (FP, HPPA, PAEK, PPS, PEI), Application (Medical Supplies, Medical Equipment & Tools, Drug Delivery, Prosthesis & Implants, Therapeutic System), Region - Global Forecast to 2026", size is projected to grow from USD 851 million in 2021 to USD 1,242 million by 2026, at a CAGR of 7.8% during the forecast period 2021 to 2026. Increasing use of high-performance medical plastics in advanced medical technology in implants, precision medicines, smart inhalers, artificial organs, customized minimally invasive devices, and robotic assistance in surgical operations are propelling the demand for high performance medical plastics across the globe.

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By type, the FP segment accounted for the largest market share in 2020. Various types of FP such as Polytetrafluoroethylene (PTFE), Polyvinylidene Fluoride (PVDF), and Fluorinated Ethylene Propylene (FEP) are widely used in various applications. Surgical equipment, such as handles and grips for instrumentation, sizing trials for knee and hip replacement, fixation devices, endoscopic housings, and eyepieces, are manufactured using high performance fluoropolymers, owing to their high chemical resistance. These FPs have greater thermal stability and temperature resistance property and are, thus, widely used to manufacture parts for X-ray and Magnetic Resonance Imaging (MRI) devices. The larger share of the FP segment can be attributed to the increase in demand for PTFE and FEP in medical applications such as components of medical devices, surgical instruments, and therapeutic systems, among others.

By application, the medical equipment & tools segment accounted for the largest share of the high-performance medical plastics market in 2020. The larger market share can be attributed to the increase in demand for 3D printing high performance plastics in medical devices. This segment covers medical equipment & tools, such as components of medical devices, handles, and grips for instrumentation, sizing trials for knee and hip replacement, fixation devices, endoscopic housings, dental tools, and equipment such as key parts for dialysis machine and cardiovascular surgery that are manufactured using high performance plastics such as PEEk, PEI, PPSU, PEKK, PAI, among others.

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North America accounted for the largest share of the high-performance medical plastics market in 2020. The countries considered for the study in North America are the US, Canada, and Mexico. High performance medical plastics are used in the manufacturing of medical devices and equipment employed in the healthcare industry for surgical and procedural applications. The medical devices market in North America is highly diversified and offers a variety of products to diagnose and treat patients, ranging from medical catheters to vascular grafts and implants.
Companies in North America mainly focus on the development of high-quality products using advanced technology, which mandates significant investment in R&D. New innovations, such as neuro-stimulators, stent technologies, biomarkers, robotic assistance, and implantable electronic devices in the medical device market in North America, are leading to the overall growth of the healthcare industry. The demand for high performance medical plastics is expected to increase rapidly in this region in certain application areas, such as orthopaedics, medical instruments, and implants.

Solvay SA (Belgium), SABIC (UAE), Mitsubishi Chemical Corporation (Japan), Evonik Industries AG (Germany), Arkema SA (France), Ensinger (Germany), Victrex PLC (UK), Rochling SE & Co. AG (Germany), Raumedic AG (Germany), The Chemours Company (US), DuPont (US), Saint-Gobain Performance Plastics (France), Celanese Corporation (US), Trelleborg (Sweden) and Tekni-Plex (US), among others are the key players operating in the high performance medical plastics market.

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Solvay SA is the largest company in the global high performance medical plastics market. High performance plastics are a part of the materials business segment of the company. Solvay SA operates through 428 subsidiaries in 64 countries of Europe, North America, Latin America, and Asia-Pacific. The company has 119 operational facilities worldwide. As a global leader in materials, chemicals, and solutions, Solvay brings advancements in planes, cars, batteries, smart and medical devices, and water and air treatment, to solve critical industrial, social, and environmental challenges. Solvay SA, in December 2020 entered a partnership with PrinterPrezz (US) to develop 3D printing Selective Laser Sintering (SLS) solutions for implants and other medical devices using high performance polymers.

Another important player in the high-performance medical plastics market is Evonik Industries AG. The company has vast experience in manufacturing high performance medical plastics and a broad product portfolio, huge production capacity, and sales, logistics, and technical service network. Evonik has a dedicated section for medical plastic division and products like VESTAKEEP, VESTAMID and TRAGOMID care have application in dental applications, body implants and medical devices. Evonik is one of the world leaders in specialty chemicals. Evonik goes far beyond chemistry to create innovative, profitable, and sustainable solutions for customers. The company has done major acquisitions and joint ventures with companies like Durect Corporation and Wynka Silicon for increasing its high-performance medical plastics market.

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