Product Code: CH 3892
"The medical plastics market is projected to register a CAGR of 6.8%, in terms of value, between 2019 and 2024."
The medical plastics market size is projected to grow from USD 22.8 billion in 2019 to USD 31.7 billion by 2024, at a CAGR of 6.8% during the forecast period. The increasing demand for healthcare solutions owing to an increase in disposable income, changing lifestyles, and growing population in emerging economies are the major drivers for the medical plastics market. Other driving factors include the increasing healthcare investments and use of advanced medical technology such as customized prosthetics, AI-driven surgeries, and the use of micro devices for procedural applications. However, the fluctuations in the regulations across different countries and time-taking regulatory approval process can hinder the growth of the market.
The medical instruments & tools segment is estimated to be the largest application of medical plastics during the forecast period.
The medical instruments & tools segment accounts for the largest market share, in terms of value, in the medical plastics market. Suitability and biocompatibility of medical plastics for the manufacturing of various medical devices, such as surgical and procedural instruments, diagnostic instruments, and dental tools, are driving the demand. Plastic materials are being increasingly used in the manufacturing of these equipment owing to their properties, such as toughness, rigidity, easy workability, and availability. Plastics can be machined, molded, or formed into almost any shape as per requirements.
The engineering plastics segment is expected to be the fastest-growing type of medical plastics during the forecast period.
The engineering plastics segment is projected to lead the market during the forecast period. These plastics are used in diagnostic instruments, drug delivery systems, orthopedic devices, and dental tools. Engineering plastics provide many advantages over standard plastics, such as good malleability, faster production time, low weight, resistance to high impact, flame, shock, and chemical, and better friction reduction.
APAC is expected to be the fastest-growing medical plastics market during the forecast period.
APAC is projected to be the largest, as well as the fastest-growing medical plastics market during the forecast period owing to the continuously increasing population, rising disposable income, rise in lifestyle diseases, and the increasing aging population. In addition, rapid alterations in the competitive landscape of the healthcare industry and advent of new and innovative medical technologies, such as 3D printing, polymer blended materials, bio-based materials, and others in the region are propelling the demand for medical plastics.
The market sizes estimated in this study were validated through primary interviews conducted with various industry experts globally.
These primary sources are divided into three categories:
- By Company Type: Tier I - 25%, Tier II - 50%, and Tier III - 25%
- By Designation: C Level - 20%, Director Level - 30%, and Others - 50%
- By Region: North America - 20%, Europe - 30%, APAC - 25%, South America - 25%, Middle East & Africa - 10%
The report profiles several leading players of the medical plastics market that include: SABIC (Saudi Arabia), BASF (Germany), Celanese (US), Evonik (Germany), Solvay (Belgium) and Covestro (Germany) The report also includes detailed information about various growth strategies adopted by these key players to strengthen their position in the market.
RESEARCH COVERAGE:
The objective of this study is to define, describe, and forecast the medical plastics market based on various segmentations and strategically analyze these market segments with respect to individual growth trends, growth prospects, and contribution to the overall growth. In this report, the medical plastics market has been segmented based on application, type, and region.
KEY BENEFITS OF BUYING THE REPORT:
The report is expected to help market leaders/new entrants in the medical plastics market in the following ways:
- 1. This report comprehensively segments the medical plastics market and provides the closest approximations for the sizes of different segments and sub-segments of the market across different verticals and regions.
- 2. This report is expected to help stakeholders in obtaining an improved understanding of their competitors and gain insights about their businesses. The competitive landscape section includes detailed information about strategies, such as new product development, merger & acquisition, agreement & collaboration, and investment & expansion, which were undertaken by various key players to enhance their position in the medical plastics market.
TABLE OF CONTENTS
1 INTRODUCTION
- 1.1 OBJECTIVES OF THE STUDY
- 1.2 MARKET DEFINITION
- 1.3 MARKET SCOPE
- 1.3.1 MEDICAL PLASTICS MARKET SEGMENTATION
- 1.3.2 REGIONS COVERED
- 1.3.3 YEARS CONSIDERED FOR THE STUDY
- 1.4 CURRENCY
- 1.5 UNIT CONSIDERED
- 1.6 STAKEHOLDERS
- 1.7 LIMITATIONS
2 RESEARCH METHODOLOGY
- 2.1 RESEARCH DATA
- 2.1.1 SECONDARY DATA
- 2.1.1.1 Key data from secondary sources
- 2.1.2 PRIMARY DATA
- 2.1.2.1 Key data from primary sources
- 2.1.2.2 Key industry insights
- 2.1.2.3 Breakdown of primary interviews
- 2.2 MARKET SIZE ESTIMATION
- 2.2.1 BOTTOM-UP APPROACH
- 2.2.2 TOP-DOWN APPROACH
- 2.3 DATA TRIANGULATION
- 2.3.1 MEDICAL PLASTICS MARKET ANALYSIS THROUGH PRIMARY INTERVIEWS
- 2.4 LIMITATIONS
- 2.5 ASSUMPTIONS
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
- 4.1 ATTRACTIVE OPPORTUNITIES IN THE MEDICAL PLASTICS MARKET
- 4.2 MEDICAL PLASTICS MARKET SIZE, BY TYPE
- 4.3 MEDICAL PLASTICS MARKET SIZE, BY APPLICATION
- 4.4 MEDICAL PLASTICS MARKET, BY MAJOR COUNTRIES
- 4.5 APAC MEDICAL PLASTICS MARKET, BY COUNTRY AND APPLICATION, 2018
5 MARKET OVERVIEW
- 5.1 INTRODUCTION
- 5.2 MARKET DYNAMICS
- 5.2.1 DRIVERS
- 5.2.1.1 Increase in demand for advanced medical technology and devices
- 5.2.1.2 Growing healthcare investments in emerging economies
- 5.2.1.3 Shift toward minimally invasive medical procedures
- 5.2.2 RESTRAINTS
- 5.2.2.1 Time-consuming regulatory approval process
- 5.2.3 OPPORTUNITIES
- 5.2.3.1 R&D to develop advanced plastics
- 5.2.3.2 Development of patient-specific implants and 3D printed devices
- 5.2.4 CHALLENGES
- 5.2.4.1 Waste management concerns
- 5.3 PORTER'S FIVE FORCES ANALYSIS
- 5.3.1 THREAT OF NEW ENTRANTS
- 5.3.2 THREAT OF SUBSTITUTES
- 5.3.3 BARGAINING POWER OF BUYERS
- 5.3.4 BARGAINING POWER OF SUPPLIERS
- 5.3.5 INTENSITY OF COMPETITIVE RIVALRY
- 5.4 MACROECONOMIC OVERVIEW AND KEY TRENDS
- 5.4.1 INTRODUCTION
- 5.4.2 TRENDS AND FORECAST OF GDP
- 5.4.3 TRENDS OF HEALTHCARE INDUSTRY
6 MEDICAL PLASTICS MARKET, BY TYPE
- 6.1 INTRODUCTION
- 6.2 STANDARD PLASTICS
- 6.2.1 THE ADVENT OF NEW TECHNOLOGIES IN SURGICAL AND PROCEDURAL OPERATIONS IS AUGMENTING THE DEMAND FOR STANDARD PLASTICS
- 6.2.2 POLYVINYL CHLORIDE (PVC)
- 6.2.3 POLYOLEFIN (PE)
- 6.2.4 POLYPROPYLENE (PP)
- 6.2.5 POLYSTYRENE (PS)
- 6.2.6 POLY(METHYL METHACRYLATE) (PMMA)
- 6.3 ENGINEERING PLASTICS
- 6.3.1 ENGINEERING PLASTICS OFFER HIGHER IMPACT, FLAME, SHOCK, AND CHEMICAL RESISTANCE THAN STANDARD PLASTICS
- 6.3.2 POLYAMIDE (PA)
- 6.3.3 ACRYLONITRILE BUTADIENE STYRENE (ABS)
- 6.3.4 POLYCARBONATE (PC)
- 6.3.5 POLYACETAL
- 6.3.6 OTHERS
- 6.4 HIGH PERFORMANCE PLASTIC (HPP)
- 6.4.1 HPP EXHIBITS HEAT STABILITY AND HIGH CHEMICAL RESISTANCE
- 6.4.2 POLYETHERETHERKETONE (PEEK)
- 6.4.3 POLYTETRAFLUOROETHYLENE (PTFE)
- 6.4.4 POLYPHENYLSULFONE (PPSU)
- 6.4.5 OTHER HPPS
- 6.5 SILICONE
- 6.5.1 THE BIOCOMPATIBILITY OF SILICONE IS INCREASING ITS USE IN MEDICAL IMPLANTS
- 6.6 OTHERS
- 6.6.1 THERMOPLASTIC ELASTOMER (TPE)
- 6.6.2 THERMOPLASTIC POLYURETHANE (TPU)
- 6.6.3 BIODEGRADABLE POLYMERS
- 6.6.4 POLYMER BLENDS AND SYNTHETIC RUBBER
7 MEDICAL PLASTICS MARKET, BY APPLICATION
- 7.1 INTRODUCTION
- 7.2 MEDICAL DISPOSABLES
- 7.2.1 THE GROWTH IN DEMAND FOR CATHETERS AND SYRINGES ARE FUELING THE MARKET FOR MEDICAL PLASTICS
- 7.2.2 GENERAL DISPOSABLES
- 7.2.3 MEDICAL BAGS
- 7.2.4 CATHETERS
- 7.2.5 SYRINGES
- 7.3 PROSTHETICS
- 7.3.1 THE USE OF 3D PRINTED CUSTOMIZED PROSTHESES AND LIGHTWEIGHT IMPLANTS IS GAINING TRACTION
- 7.3.2 LIMB PROSTHESIS
- 7.3.3 IMPLANTS
- 7.4 MEDICAL INSTRUMENTS & TOOLS
- 7.4.1 INCREASING SURGICAL AND PROCEDURAL APPLICATIONS ARE DRIVING THE DEMAND FOR MEDICAL PLASTICS
- 7.4.2 SURGICAL INSTRUMENTS
- 7.4.3 DIAGNOSTIC INSTRUMENTS & DEVICES
- 7.4.4 DENTAL TOOLS
- 7.5 DRUG DELIVERY
- 7.5.1 THE GROWING REQUIREMENT OF INNOVATIVE DRUG DELIVERY SYSTEMS IS EXPECTED TO BOOST THE DEMAND FOR MEDICAL PLASTICS
- 7.6 OTHERS
8 MEDICAL PLASTICS MARKET, BY REGION
- 8.1 INTRODUCTION
- 8.2 NORTH AMERICA
- 8.2.1 US
- 8.2.1.1 The country's advanced medical technology industry is the major driver for the market
- 8.2.2 CANADA
- 8.2.2.1 The medical plastics market in the country is highly regulated
- 8.2.3 MEXICO
- 8.2.3.1 The country is one of the most prominent medical device markets in the region
- 8.3 EUROPE
- 8.3.1 GERMANY
- 8.3.1.1 The country is the largest market for dental equipment in Europe
- 8.3.2 FRANCE
- 8.3.2.1 Non-invasive surgery, orthopedics, and disposable medical equipment segments offer opportunities for medical device manufacturers
- 8.3.3 UK
- 8.3.3.1 The highly-regulated healthcare industry and strong medical device market are the governing factors for the medical plastics market
- 8.3.4 ITALY
- 8.3.4.1 Italy has an established healthcare industry
- 8.3.5 SPAIN
- 8.3.5.1 Public hospitals, health centers, and research institutions are the major consumers of medical devices in the country
- 8.3.6 NETHERLANDS
- 8.3.6.1 The country is witnessing extensive R&D on medical instrumentation
- 8.3.7 REST OF EUROPE
- 8.4 APAC
- 8.4.1 CHINA
- 8.4.1.1 The country attracts international investments in medical device manufacturing units
- 8.4.2 JAPAN
- 8.4.2.1 The implementation of the AI and big data technologies in the healthcare industry is favorable for the market
- 8.4.3 SOUTH KOREA
- 8.4.3.1 There has been increased domestic manufacturing of smart medical devices in the country
- 8.4.4 INDIA
- 8.4.4.1 Government initiatives for the healthcare sector are expected to boost the demand for medical plastics
- 8.4.5 REST OF APAC
- 8.5 MIDDLE EAST & AFRICA
- 8.5.1 SAUDI ARABIA
- 8.5.1.1 Initiatives, such as NTP and Vision 2030, are expected to drive the medical plastics market in Saudi Arabia
- 8.5.2 UAE
- 8.5.2.1 The Dubai Industrial Strategy (DIS) 2030 is expected to create opportunities for the market
- 8.5.3 SOUTH AFRICA
- 8.5.3.1 The medical plastics market is expected to grow due to the launch of government schemes
- 8.5.4 REST OF MIDDLE EAST & AFRICA
- 8.6 SOUTH AMERICA
- 8.6.1 BRAZIL
- 8.6.1.1 Brazil has strong healthcare demographic growth
- 8.6.2 ARGENTINA
- 8.6.2.1 The country is an important location for medical tourism
- 8.6.3 REST OF SOUTH AMERICA
9 COMPETITIVE LANDSCAPE
- 9.1 OVERVIEW
- 9.2 COMPETITIVE LEADERSHIP MAPPING, 2018
- 9.2.1 VISIONARY LEADERS
- 9.2.2 INNOVATORS
- 9.2.3 DYNAMIC DIFFERENTIATORS
- 9.2.4 EMERGING COMPANIES
- 9.3 COMPETITIVE BENCHMARKING
- 9.3.1 STRENGTH OF PRODUCT PORTFOLIO
- 9.3.2 BUSINESS STRATEGY EXCELLENCE
- 9.4 MARKET RANKING OF KEY PLAYERS
- 9.4.1 SABIC
- 9.4.2 BASF
- 9.4.3 CELANESE CORPORATION
- 9.4.4 EVONIK
- 9.4.5 SOLVAY
- 9.5 COMPETITIVE SITUATION & TRENDS
- 9.5.1 NEW PRODUCT LAUNCH
- 9.5.2 INVESTMENT & EXPANSION
- 9.5.3 AGREEMENT & COLLABORATION
- 9.5.4 MERGER & ACQUISITION
- 9.5.5 JOINT VENTURE
10 COMPANY PROFILES
(Business overview, Products offered, Recent developments, SWOT analysis & MnM View)*
- 10.1 SABIC
- 10.2 BASF
- 10.3 CELANESE CORPORATION
- 10.4 EVONIK
- 10.5 SOLVAY
- 10.6 ARKEMA
- 10.7 COVESTRO
- 10.8 ENSINGER
- 10.9 LUBRIZOL
- 10.10 TRINSEO
- 10.11 OTHER COMPANIES
- 10.11.1 BIOMERICS
- 10.11.2 DSM
- 10.11.3 EASTMAN CHEMICAL COMPANY
- 10.11.4 E. I. DU PONT DE NEMOURS AND COMPANY
- 10.11.5 INVIBIO
- 10.11.6 LANXESS
- 10.11.7 LONDYLLBASELL
- 10.11.8 MITSUBISHI CHEMICAL ADVANCED MATERIALS
- 10.11.9 POLYONE
- 10.11.10 ROCHLING
- 10.11.11 RTP COMPANY
- 10.11.12 SAINT GOBAIN PERFORMANCE PLASTICS
- 10.11.13 TEKNI PLEX
- 10.11.14 TEKNOR APEX
- 10.11.15 WACKER CHEMIE
Details on Business overview, Products offered, Recent developments, SWOT analysis & MnM View might not be captured in case of unlisted companies.
11 APPENDIX
- 11.1 DISCUSSION GUIDE
- 11.2 KNOWLEDGE STORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL
- 11.3 AVAILABLE CUSTOMIZATIONS
- 11.4 RELATED REPORTS
- 11.5 AUTHOR DETAILS
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