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Medical Plastics - Global Market Trajectory & Analytics

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    Report

  • 659 Pages
  • July 2022
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 344103

Global Medical Plastics Market to Reach $28.2 Billion by 2026


Plastics that are used in healthcare are typically medical-grade polymer materials that follow the regulatory standards precisely engineered for medical use or plastics that are used in consumer packaging. Medical plastics are expected to continue exhibiting encouraging growth due to increased use of medical devices, improvement in medical packaging, enhanced biocompatibility of high-end polymers, and growing importance of portable and compact devices. The growing use of implants, rising aging population, and a shift towards disposable devices would additionally contribute to market growth. Furthermore, the increase in number of plastic-intensive complex procedures such as cosmetic surgeries, and advanced prosthetics and joint replacements are likely to fuel demand for medical plastics. Technologies such as transplant medicine, tissue engineering, and specialized polymer coatings that enable the creation of complex design and drug coated devices for targeted drug delivery are expected to boost demand for medical plastics.

Amid the COVID-19 crisis, the global market for Medical Plastics estimated at US$22.4 Billion in the year 2022, is projected to reach a revised size of US$28.2 Billion by 2026, growing at a CAGR of 5.3% over the analysis period. Engineering Plastics, one of the segments analyzed in the report, is projected to record a 5.9% CAGR and reach US$7.4 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the High Performance Plastics (HPP) segment is readjusted to a revised 5% CAGR for the next 7-year period. A large portion of medical plastics market is represented by commodity plastics, while engineering plastics are slowly penetrating into the medical segment with their advanced attributes. In the near term, engineering plastics, irrespective of higher costs, would see a faster growth in the medical vertical compared to commodity plastics. Costs of engineering plastics are high and the demand growth would essentially be in areas that require high performance such as preventative and self-treatment medicines, geriatric care applications, surgical and diagnostic testing fields, and systems for delivering drugs. Surgical medical instruments such as scalpels and syringes, diagnostic equipment casings and research application tools represent some of the high growth areas for engineering plastics.

The U.S. Market is Estimated at $6 Billion in 2022, While China is Forecast to Reach $4 Billion by 2026


The Medical Plastics market in the U.S. is estimated at US$6 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$4 Billion by the year 2026 trailing a CAGR of 6.4% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.7% and 4.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 5.1% CAGR.

Standard Plastics Segment to Reach $10.9 Billion by 2026


Standard plastics such as Polyvinyl chloride and Polyolefin find application in medical disposables, containers, films, packaging, medical bags, catheters, implants, and lid stocks; blood bags and blood tubing among others. In the global Standard Plastics segment, USA, Canada, Japan, China and Europe will drive the 5.4% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$5.8 Billion will reach a projected size of US$8.4 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1 Billion by the year 2026, while Latin America will expand at a 5.9% CAGR through the analysis period.

Select Competitors (Total 77 Featured):

  • BASF SE
  • Celanese Corporation
  • Covestro AG
  • DuPont de Nemours, Inc.
  • Eastman Chemical Company
  • Ensinger
  • Evonik Industries AG
  • GW Plastics, Inc.
  • HMC Polymers Co., Ltd.
  • NOLATO AB
  • Avantor, Inc
  • Orthoplastics Ltd.
  • SABIC
  • Saint-Gobain Performance Plastics
  • Solvay
  • TekniPlex Corporation
  • The Lubrizol Corporation
  • Trelleborg Sealing Solutions
  • Trinseo

What`s New for 2022?

  • Global competitiveness and key competitor percentage market shares
  • Market presence across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to the digital archives
  • Complimentary updates for one year
Frequently Asked Questions about the Global Market for Medical Plastics

What is the estimated value of the Global Market for Medical Plastics?

The Global Market for Medical Plastics was estimated to be valued at $22.4 Billion in 2022.

What is the growth rate of the Global Market for Medical Plastics?

The growth rate of the Global Market for Medical Plastics is 5.9%, with an estimated value of $28.2 Billion by 2026.

What is the forecasted size of the Global Market for Medical Plastics?

The Global Market for Medical Plastics is estimated to be worth $28.2 Billion by 2026.

Who are the key companies in the Global Market for Medical Plastics?

Key companies in the Global Market for Medical Plastics include BASF SE, Celanese Corporation, Covestro AG, DuPont de Nemours, Inc., Eastman Chemical Company, Ensinger, Evonik Industries AG, GW Plastics, Inc. and NOLATO AB.

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Influencer Market Insights
  • World Market Trajectories
  • Impact of Covid-19 and a Looming Global Recession
  • COVID-19 Revives Interest in Plastics for Medical Industry
  • COVID-19 Lays Emphasis on Materials with Superior Performance
  • Going Forwards
  • Global Surgery Cancellation Rate (%) Feb to May 2020
  • Medical Plastics - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
  • MEDICAL PLASTICS: AN Introduction
  • Plastics Used in Medical Devices
  • Medical Plastics - A SWOT Analysis
  • Types of Medical Plastics
  • Outlook
  • Market Limitations
  • Recent Market Activity
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
  • Medical Device Development Drives Opportunities in Plastics Market
  • Growing Demand for Point of care Diagnostics Drive Gains
  • Global Point-of-Care Diagnostics Devices Market in US$ billion: 2017-2025
  • Material Mix of the Global Microfluidics Market: 2020
  • Plastics Aid Artificial Organs Revolutionize Medical Industry
  • Engineered Resins Continue to Evolve
  • PEEK Polymers Gain Importance in Orthopedic Implants
  • Global Orthopedic Implants Market in US$ billion: 2017-2025
  • Thermoplastic Elastomers Find Growing Use in Medical Industry
  • Rising Popularity of TPEs for Medical Tubing Applications
  • Global Medical Tubing Market Revenues in US$ Billion for the Years 2018, 2020 and 2022
  • Antimicrobial Plastics for Medical Devices Gain Prominence
  • Hospital-acquired infections (HAIs) by Site in the US
  • Rise in Use of Bioresorbable Polymers in the Healthcare Space
  • Growing Applications of Bioresorbable and Biodegradable Polymers
  • Percentage Share of Bio-Based Plastics in Global Plastic Production for the Years 2010, 2015 and 2020
  • Biodegradable Polymers in Nano Drugs: A Growing Market
  • 3D and 4D Printing Technologies Unfurls Importance of Plastics
  • 3D Printing Comes to Aid in Times of COVID-19 Crisis
  • Growing Adoption of Medical Robots Creates Demand for High Strength Plastics
  • World Surgical Robots Market by Component Type: 2020E
  • World Surgical Robots Market by Surgery Type: 2020E
  • Global Surgical Robots Market Estimates and Forecasts in US$ Billion: 2015-2025
  • Plastics Render Introduction of Medical Devices in Different Color Variants
  • Disposables Widen Demand for Advanced Polymers
  • World 14-Year Perspective for Artificial Organs by Product Segment - Percentage Breakdown of Dollar Sales for Artificial Heart, Artificial Kidneys,
  • Total Number of People on the Waiting List for Organ Transplantation in the US by Type: 2018
  • Use of Plastics as a Skin Graft: A Novel Application
  • Select Innovations
  • Rise in Healthcare Expenditure to Drive Growth
  • World Healthcare Expenditure (In US$ Billion) for the Years 2017-2023
  • Demographic Trends Push the Market Ahead
  • Global Aging Population: Population of 65+ Individuals (in Thousands) by Region for 2019 and 2030
4. GLOBAL MARKET PERSPECTIVEIII. MARKET ANALYSIS
UNITED STATES
  • Medical Plastics Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)
  • Market Analytics
  • Market Overview
  • Impact of COVID-19 on Medical Devices Sector
  • US-based Medical Device OEMs Move towards Onshoring Services
  • Ageing Demographics: Major Driving Factor
  • US Population by Age Group: 2016, 2020, 2030 (in Million)
CANADA
JAPAN
  • Medical Plastics Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2022 (E)
  • Market Overview
  • Breakdown of Population by Age Group in Japan: 2010, 2020, and 2025
  • Market Analytics
CHINA
  • Medical Plastics Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E)
  • Market Overview
  • Medical Device Makers Hurt as COVID-19 Slows Elective Surgeries in China
  • Market Analytics
EUROPE
  • Medical Plastics Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)
  • Market Analytics
  • Market Overview
  • Breakdown of Healthcare Expenditure in Europe by Category: 2019
  • Market Analytics
  • Growing Trend towards Outsourcing
  • Impact of COVID-19
FRANCE
  • Medical Plastics Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2022 (E)
GERMANY
  • Medical Plastics Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2022 (E)
ITALY
UNITED KINGDOM
  • Medical Plastics Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2022 (E)
SPAINRUSSIAREST OF EUROPE
ASIA-PACIFIC
  • Medical Plastics Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)
  • Market Overview
AUSTRALIA
  • Medical Plastics Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2022 (E)
INDIA
  • Medical Plastics Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2022 (E)
  • Market Overview
  • India Emerges as a Lucrative Outsourcing Destination
  • Market Analytics
SOUTH KOREAREST OF ASIA-PACIFIC
LATIN AMERICA
  • Medical Plastics Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2022 (E)
ARGENTINABRAZILMEXICOREST OF LATIN AMERICA
MIDDLE EAST
  • Medical Plastics Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2022 (E)
IRANISRAELSAUDI ARABIAUNITED ARAB EMIRATESREST OF MIDDLE EAST
AFRICA
  • Medical Plastics Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2022 (E)
IV. COMPETITION
  • Total Companies Profiled: 77

Companies Mentioned

A selection of companies mentioned in this report includes:

  • BASF SE
  • Celanese Corporation
  • Covestro AG
  • DuPont de Nemours, Inc.
  • Eastman Chemical Company
  • Ensinger
  • Evonik Industries AG
  • GW Plastics, Inc.
  • HMC Polymers Co., Ltd.
  • NOLATO AB
  • Avantor, Inc
  • Orthoplastics Ltd.
  • SABIC
  • Saint-Gobain Performance Plastics
  • Solvay
  • TekniPlex Corporation
  • The Lubrizol Corporation
  • Trelleborg Sealing Solutions
  • Trinseo