A TECHNO-ECONOMIC NEWS MAGAZINE FOR MEDICAL PLASTICS AND PHARMACEUTICAL INDUSTRY
Our 23rd Year of Publication
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Cover Story

Global Medical Disposables Industry Scenario And Role Of Plastics

Disposable Medical Devices are a very important part of the total medical device industry. Medical Disposables are the devices which are meant for only single use and have to be discarded later. They are essential for carrying out any medical procedure in Hospital. For the last few years, the disposable market has been growing continuously and trends predict strong growth for the near future. Products with enhanced performance, infection prevention and efficacy are fuelling the demand of medical disposables globally. Demand for disposable devices is increasing in emerging economies, as these countries are modernizing their healthcare infrastructure. The growing presence of medical facilities in developing countries and growing geriatric population in developed countries are the major growth drivers for the global medical disposables market.

Market Segments

The global medical disposables market is segmented on the basis of products, geography and in terms of end users. In terms of product categorization, the market is segmented into drug delivery disposables, respiratory disposables, products for dialysis, laboratory disposables, wound management disposables, nonwoven medical disposables, sterilization supplies, waste disposable supplies, and others, such as diagnostic disposables. The medical disposables market embraces a variety of sub-industries, comprising product areas such as cardiovascular and orthopedic devices, wound care products and disposable supplies.

Geographically, this market is segmented into North America, Europe, Asia Pacific, and Rest of the World. While, in terms of end users, the market has been divided into hospitals, outpatient facilities, home healthcare facilities, and others such as emergency care, physician offices, etc. Hospitals are currently the leading sector in the global medical disposables market and are expected to soar due to the growing number of surgical procedures, emergency visits, and hospital admissions.

Global Medical Disposables Market

The global medical disposables market is expected to increase 6.6 percent yearly to nearly $245 billion in 2018.The global market for disposable medical products has experienced robust growth over the past two decades, averaging 12.5% per year. The market will be dominated by the United States, China, Japan, Russia, Germany, France, Brazil, India, Italy, and the United Kingdom, who will comprise the 10 largest national markets, combining to absorb over two-thirds of the total value of global demand in 2018. The United States is the largest market for disposable medical devices closely followed by Europe and Asia. The market in developing countries keeps growing, mainly due to economic growth; increased spending by the respective governments on healthcare and the increased purchasing power of the general public.

Presently, North America holds the biggest share in the global medical disposables market ~ 35%. North America exhibited sturdy demand for all

product segments of the medical disposables market. U.S. alone accounted for 70% of the market for medical disposables in North America.

Asia Pacific is soon going to catch up due to increasing healthcare awareness. Other factors likely to drive the Asia Pacific medical disposables market are the rising disposable income, huge pool of aging population, and increasing expenditure by several governments on healthcare. The significant development of the emerging economies of India and China will also lead to growth of this region.

India

India is one of the top 20 markets for Medical Devices in the world and is the fourth largest markets in Asia after Japan, China and South Korea. The Indian Medical Device market is significantly smaller than other overseas markets.

However, macroeconomic factors suggest a huge potential for double-digit growth in the Indian Medical Device sector. Upcoming developments in the regulatory and policy framework are expected to accelerate growth of the Indian Medical Devices sector at an estimated 10-year CAGR of 1415%.

Currently, the medical devices market in India is dominated by imported products, including products manufactured using imported material, which comprises approximately 75% of the total sales. However, 60% of domestically manufactured devices are exported, with the disposables and consumables segment having the largest share.

The Medical Disposable and Consumables sector in India is valued at approx. Rs. 15,000 Crore, While 45% Medical Disposables were being imported. In the Year 2014-2015 (April to Oct.), India imported Disposables and Consumables worth 2,170.12 Crore Rs., while, Exported Disposables and Consumables worth 1,723.02 Crore Rs. Indian disposable medical supplies demand is rising 14.3 percent annually. Syringes and inhalers, IV and urinary catheters, hemodialysis bloodlines, peritoneal dialysis kits, tissue sealants, biological wound dressings, Contact Lenses, Class IV garments and textiles, and blood glucose test strips are considered to be among the fastest growing products.

The domestic companies are largely involved in manufacturing low-end products for local and international consumption. However lately, many multinational companies have established local presence in India.

Plastic Resins for Medical Disposables

The global medical plastics market is expected to reach USD 6,978.03 Million by 2020. This growth is fueled by the aging population increasing the demand for existing and new medical technologies and growing application sectors globally.

Global demand for raw materials used in the production of medical disposables, the vast majority of which are plastics, will increase 5.4% annually to $14.3 billion in 2018. Plastic resins will represent nearly 73% of raw materials used in the fabrication of medical disposables at that time. North America will continue to account for the largest share - almost $5.3 billion in 2018 - but the Asia-Pacific region will post the fastest rate of growth.

Medical device manufacturers today demand plastics that are stronger, lighter, and more durable than ever before. Several factors are leading to growth in this market. Plastics are an ideal class of materials which cover large application areas in health and healthcare due to their lightweight, bio-compatibility, non-corrosive nature, chemical inertness, low cost and comparable densities with that of human organs.

Many Medical Disposables Devices & Implants incorporate polymers, either as key components or as coating to improve the biocompatibility of other materials. Innovative solutions based on polymer technology play a significant role in facilitating diagnosis and treatment via incorporation in medical devices, implants and disposables.

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