Report Feature
According to a new market report published by Lucintel, the growth of the global medical plastic market looks promising with opportunities in the medical device market. The global medical plastic market is expected to reach an estimated $28 billion by 2030 with a CAGR of 3.3% from 2024 to 2030. The major drivers for this market are increasing demand for development of patient-specific implants and 3D printed devices, increasing adoption of medical polymers due to low prices and versatility, growing healthcare investments in emerging economies, and increasing use of home healthcare and self-medication.
Emerging trend, which has a direct impact on the dynamics of the industry, includes adoption of engineering polymers, increasing use of polyolefins, and adoption of bioresorbable polymers.
Some of the latest technological developments by various countries in the medical plastic market are as follows:
Some of the latest technological developments by various countries in the medical plastic market are as follows:
- United States: Stryker Corporation announced the development of a new line of bioabsorbable implants using polylactic acid (PLA) for sports medicine applications. This technology aims to reduce the need for follow-up surgeries and improve patient outcomes.
- China: The Chinese government has set a target to achieve 70% self-sufficiency in high-performance polymers. This policy is driving investments in research and development of advanced medical plastics like PEEK (polyetheretherketone) for implants.
- Germany: Siemens Healthineers announced a partnership with BASF to develop 3D printing filaments made of medical-grade polyamide (PA) for customized implants and surgical instruments. This technology allows for faster production of patient-specific devices.
- India: The Indian government launched the "Production Linked Incentive" scheme to promote domestic manufacturing of medical-grade plastics. This scheme aims to reduce reliance on imports and make medical devices more affordable.
A total of 98 figures / charts and 88 tables are provided in this 173-page report to help in your business decisions. Sample figures with some insights are shown below. To learn the scope of, benefits, companies researched and other details of medical plastic market report download the report brochure.
The study includes a trend and forecast for the global medical plastic market by technology, application, and region as follows:
By Technology [Value ($ Million) and Volume (Kilotons) from 2018 – 2030]:
- Polyvinyl Chloride
- Polyethylene
- Polypropylene
- Engineering Plastics
- Polystyrene
- Polyester
- Polycarbonate
- Polyurethane
- Acrylics
By Application [Value ($ Million) and Volume (Kilotons) from 2018 – 2030]:
- Disposables
- Drug Delivery System
- Diagnostic Instruments
- Surgical Instruments
- Cathters
- Medical Bags
- Implants
By Region [Value ($ Million) and Volume (Kilotons) from 2018 – 2030]:
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Asia Pacific
- Japan
- China
- India
- The Rest of the World
- Brazil
Some of the medical plastic companies profiled in this report include Solvay, BASF SE, Covestro AG, Evonik Industries AG, and Dow Chemical Corporation.
Below are the latest technological developments from top companies in the medical plastic market:
Below are the latest technological developments from top companies in the medical plastic market:
- LyondellBasell announced collaboration with a medical device company to develop a new, more sustainable PVC formulation for use in blood storage bags. This collaboration targets reducing environmental impact without compromising product performance.
- Fresenius Medical Care signed a multi-year agreement with a PVC supplier to secure a stable supply of PVC for their dialysis products. This indicates a continued reliance on PVC in established medical applications.
- Dow Chemical launched a new grade of high-density polyethylene (HDPE) specifically designed for use in medical device packaging. This new grade offers improved barrier properties and sterilization compatibility.
- Medtronic announced plans to increase its production capacity for PE-based catheters to meet the growing demand for minimally invasive procedures. This indicates a trend towards wider use of PE in medical devices.
- SABIC acquired a European compounder specializing in PP for medical applications. This acquisition strengthens SABIC's position in the medical PP market and expands its product portfolio.
- Becton Dickinson signed a contract with a PP supplier for a long-term supply of medical-grade PP for their syringes and injection devices. This highlights the importance of consistent supply for high-volume medical device production.
- BASF launched a new biocompatible, flame-retardant engineering plastic for use in medical implants. This innovation expands the options for designing safe and functional implants.
- Stryker announced a partnership with a research institute to develop new 3D printing techniques for engineering plastics used in orthopedic implants. This partnership highlights the growing adoption of 3D printing in medical plastics.
Lucintel forecasts that polyvinyl chloride will remain the largest segment over the forecast period as it is easily sterilized and re-used with steam, ethylene oxide, and radiation.
Within this market, disposables will remain the largest application over the forecast period due to developing prominence of the medical devices such as hypodermic needles and cleaning gloves.
North America will remain the largest region over the forecast period and APAC is expected to witness the highest growth over the forecast period due to robust growth of the medical industry coupled with rising healthcare expenditure.
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Features of Medical plastic Market |
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This report answers following 11 key questions |
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Q.1 What are some of the most promising potential, high-growth opportunities for the global medical plastic market by technology (polyvinyl chloride, polyethylene, polypropylene, engineering plastics, polystyrene, polyester, polycarbonate, polyurethane, and acrylics), application (disposables, drug delivery system, diagnostic instruments, surgical instruments, catheters, medical bags, and implants), and region (North America, Europe, Asia Pacific, and the Rest of the World)? Q. 2 Which segments will grow at a faster pace and why? Q.3 Which regions will grow at a faster pace and why? Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market? Q.5 What are the business risks and threats to the market? Q.6 What are emerging trends in this market and the reasons behind them? Q.7 What are some changing demands of customers in the market? Q.8 What are the new developments in the market? Which companies are leading these developments? Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth? Q.10 What are some of the competitive products and processes in this market, and how big of a threat do they pose for loss of market share via material or product substitution? Q.11 What M & A activities did take place in the last five years in this market? |
Table of Contents
1. Executive Summary
6. Latest Development in Medical Plastic Technology
5.1 Global Medical Plastic Market by Region
5.3.1 Market by Technology: Polyvinyl Chloride, Polyethylene, Polypropylene, Engineering Plastics, Polystyrene, Polyester, Polycarbonate, Polyurethane, and Acrylics
5.3.2 German Medical Plastic Market
5.3.3 French Medical Plastic Market
5.3.4 United Kingdom Medical Plastic Market
5.3.5 Italian Medical Plastic Market
5.3.6 Spanish Medical Plastic Market
Methodology
Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:
- In-depth interviews of the major players in this market
- Detailed secondary research from competitors’ financial statements and published data
- Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
- A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.
Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process.
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