Yahoo Finance Global Medical Plastics Market Set to Reach $88.40 Billion by 2030
Global Medical Plastics Market
Dublin, July 04, 2022 (GLOBE NEWSWIRE) -- The "Medical Plastics Market Size, Share & Trends Analysis Report By Product (Polyethylene, Polypropylene, Polycarbonate, Liquid Crystal Polymer, Polyphenylsulfone, Polyethersulfone), By Application, And Segment Forecasts, 2022 - 2030" report has been added to ResearchAndMarkets.com's offering.
Medical Plastics Market Growth & Trends
The global medical plastics market is anticipated to reach USD 88.40 billion by 2030, registering a CAGR of 7.5% from 2022 to 2030, according to a new report. The market is primarily driven by the increasing demand for existing and new medical technologies, the aging population, and the growth in medical device applications. Plastics are increasingly becoming a vital part of medical devices as they offer better biocompatibility and optical clarity, and are economical to use.
Plastics exhibit good chemical resistance, have good sterilization capability, and are biocompatible. Although, on the contrary, a very selective number of polymers qualify for application in this segment as a medical-grade plastic. Multiple regulatory frameworks are now in place globally that decide which grades of plastics qualify for medical applications following research on the effect of such plastics after they come in contact with body fluids, internal and external tissue, etc.
Key Players
Rochling SE & Co. KG
Nolato AB
Saint-Gobain Performance Plastics
SABIC
Orthoplastics Ltd.
Eastman Chemical Company
Celanese Corporation
Dow Inc
Tekni-Plex
Solvay S.A.
HMC Polymers Thailand
ARAN BIOMEDICAL TEORANTA
Trelleborg AB
Avantor Inc
Trinseo
Evonik Industries AG
Medical Plastics Market Report Highlights
Medical components application is expected to witness the highest CAGR of 8.5% over the forecast period in terms of revenue. The significant CAGR growth is attributed to the increasing home healthcare services and growing health expenditure.
Polyphenylsulfone dominated the product segment and accounted for more than 51.0% of the overall revenue in 2021. This high share is attributed to its properties of high chemical and heat resistance and suitable material for metal replacement in medical applications.
North America accounted for more than 33.0% of the overall revenue in 2021 in the market. It is expected to witness a growth rate of 7.8% from 2022 to 2030.
Key Topics Covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Medical Plastics Market Variables, Trends, & Scope
3.1 Market Lineage Outlook
3.1.1 Global Plastics Market
3.1.2 Medical Plastics Market
3.2 Penetration & Growth Prospect Mapping
3.3 Industry Value Chain Analysis
3.3.1 Raw Material Trends
3.3.2 Manufacturing Trends
3.4 Technology Overview
3.4.1 Manufacturing Technology
3.5 Key Purchasing Criteria, by Plastics
3.6 Vendor Selection Criteria Analysis
3.7 Regulatory Framework
3.8 Medical Plastics Market Dynamics
3.8.1 Market Driver Analysis
3.8.2 Market Restraint Analysis
3.8.3 Industry Challenges
3.9 Business Environment Analysis: Medical Plastics Market
3.9.1 Industry Analysis - Porter'S Analysis
3.9.2 PESTEL Analysis
3.10 Price Trend Analysis, by Resin, 2021 (Usd/Kg)
Chapter 4 Medical Plastics Market: Product Estimates & Trend Analysis
Chapter 5 Medical Plastics Market: Application Estimates & Trend Analysis
Chapter 6 Medical Plastics Market: Region Estimates & Analysis
For more information about this report visit https://www.researchandmarkets.com/r/hxivyy
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