Medical Plastics Market
Analysis By Application (2014 - 2025)
The global medical plastics market size
was estimated at USD 20.52 billion in 2016. Increasing
demand for medical grade plastics owing to superior
properties such as overall device weight reduction coupled
with the development of premium grade plastics is expected
to drive the market growth over the forecast period.
The global population has exhibited a
sustained growth over the past few years leading to an
increasing demand for healthcare devices over the forecast
period. The resultant growth of the industry envisages the
rise in the demand for premium grade plastics for use in
medical devices leading to market growth.
The rapid growth of the pharmaceutical
industries in the U.S. is expected to impact the growth of
the in the economy, mainly on account of the resultant
demand for the product in pharmaceutical packaging. In
addition, high levels of public healthcare expenditure
coupled with government investments in the economy are
expected to drive the market growth.
The market for is expected to be
strengthened by the development of advanced products by
the manufacturers. Increase in the functionality of
engineered plastics coupled with the absence of any
significant threat to human health is expected to benefit
the market growth. Growing penetration of the product in
the medical device industry is expected to drive the
Modernization of the European
regulations for medical devices is likely to be a key
factor affecting the industry growth in the region.
Medical and IVD devices are the most regulated products
that are marketed in the Europe region with regulations
specified under the directive (93/42/EEC and 98/79/EC).
The presence of such stringent regulations is expected to
limit the market growth in the region.
Medical waste incineration with
plastics such as PVC release various hazards chemicals
such as dioxins and mercury which can cause serious public
health effects including cancer, birth defects,
infertility, endometriosis, and immune system impairment.
As a result, the industry is expected to witness a growing
rejection of such products with high levels of product
Increasing demand for various surgical
procedures including breast augmentation, nose jobs,
liposuction, eyelid surgery and face and neck lifts up is
expected to drive demand for surgical instruments, which
in turn is likely to have a positive impact on the
industry growth. Technological advancements in the knee
and hip implant surgeries is expected to have a positive
impact on the industry growth.
The industry is characterized by
continuous technological advancements to produce refined
products to gain the market share. The companies resort to
the introduction of technologically advanced products,
exemplified by Celanese Corporation and Dow Chemical
Corporation in the introduction of enhanced polyethylene
resins marketed under the trade name ELITE.
U.S. Medical Plastics Market Revenue,
2014-2025 (USD Million)
Report Coverage & Deliverables
The demand for highly durable products
such as PETG and ABS owing to ease of sterilization
coupled with superior barrier properties is expected to
drive the orthopedic implants packaging segment to grow at
a CAGR of 5.3% from 2017 to 2025. In addition, the segment
is likely to grow in the wake of growing prevalence of the