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Medical Plastics Market Analysis By Application (2014 - 2025)

Industry Insights

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 market growth.

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 replacement.

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

Application Insights

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 orthopedic surgeries.

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