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The global medical plastics market exhibited moderate growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 7% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Medical plastics refer to various polymeric materials manufactured specifically for healthcare applications. They are commonly used for tamper-proof caps, vials, beakers, inhalations masks, bedpans, intravenous (IV) tubes, pill casings, surgical instruments, prosthetics and catheters. Some of the commonly used variants include silicon, synthetic rubber, polymer blends, high performance and engineering plastics. They are produced using hypoallergenic, biocompatible, medical-grade polypropylene and polycarbonate materials. They are shatter-proof, non-permeable, temperature, chemical and corrosion-resistant and can have frequent sterilization cycles. Medical plastics can also be used to transport biohazardous materials as they have antimicrobial surfaces and can aid in preventing the spread of pathogens.
Significant growth in the medical industry across the globe is one of the key factors creating a positive outlook for the market. Moreover, as the coronavirus disease (COVID-19) continues to spread across the globe, there has been a significant increase in the demand for single-use medical plastics and consumables in the healthcare centers. Hospitals, diagnostic centers and clinics are extensively using thermal scanners, ventilators, gloves, respirators and masks for the treatment of the patients. Additionally, various product innovations, such as the development of medical plastics with enhanced biocompatibility, are acting as other growth-inducing factors. These novel variants are more cost-effective and are used in targeted drug delivery systems for the controlled release of drugs in complex parts of the brain and to treat various degenerative diseases. Other factors, including extensive improvements in the healthcare infrastructure, especially in the developing economies, along with the rising geriatric population, are anticipated to drive the market further.
IMARC Group provides an analysis of the key trends in each sub-segment of the global medical plastics market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, material and application.
Breakup by Material:
Breakup by Application:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Arkema SA, BASF SE, Celanese Corporation, Covestro AG, Dow Inc, DuPont de Nemours Inc, Evonik Industries AG, Exxon Mobil Corporation, SABIC, Solvay S.A., The Lubrizol Corporation (Berkshire Hathaway Inc.) and Trinseo S.A.
|Base Year of the Analysis||2020|
|Segment Coverage||Material, Application, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||Arkema SA, BASF SE, Celanese Corporation, Covestro AG, Dow Inc, DuPont de Nemours Inc, Evonik Industries AG, Exxon Mobil Corporation, SABIC, Solvay S.A., The Lubrizol Corporation (Berkshire Hathaway Inc.) and Trinseo S.A.|
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