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Medical Plastics Market
Growing consciousness about advantages, including durability and comfort of operation, is a prominent factor driving the medical plastics market.
The escalating worries about cross contamination amidst harnessed devices are generating a commending ambiance for the market.” - Polaris
market ResearchNEW YORK CITY, NY, UNITED STATES, October 18, 2024 /EINPresswire / -- The medical plastics market forecast for 2032 is a specialized study of the
industry with a specific concentration on the global market trend analysis.
The medical plastics market is augmenting. The market is approximated to reach USD 85.77 billion by 2032. It was valued at USD 53.02 billion in 2023. It exhibited a CAGR of 5.5% from 2024 to 2032.
What are Medical Plastics?
Medical plastics indicate plastic categories outlined or customized to varied kinds of medical plastic commodities in healthcare industries. These plastic polymers have become an important constituent in the contemporary health system. Considerably, medical plastics differ in attributes and features. Because of strict administrative needs for medical constituents, heath engineers utilize medical plastic polymers for particular health functions from surgical instruments to medical furnishing.
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Polycarbonates consist of carbonate categories in the chemical framework. These thermoplastic polymers are excessively applauded and administered for their elevated influence and thermal aversion. They also offer adequate aversion, UV safeguarding, longevity, and electrical and optical attributes. Growing urbanization generating elevated patient magnitude in hospitals and clinics, highlighting the importance of acquiring appropriate healthcare instruments is impacting the medical plastics market growth favorably.
Who Makes Medical Plastics?
.Avantor, Inc.
.Celanese Corporation
.Dow, Inc.
.Eastman Chemical Company
.Evonik Industries AG
.HMC Polymers Company Limited
.Nolato AB
.Orthoplastics Ltd
.Röchling SE & Co. KG
.SABIC
.Saint-Gobain
.Solvay S.A.
.Tekni-Plex, Inc.
.Trelleborg Group
are some of the leading players in the medical plastics market.
Spearheading market contenders are funding massively in R&D to augment their product benefaction, pushing the market growth. Market contenders are also acquiring many tactical resourcefulness to augment their global footprint and improve market allocation through contemporary market advancements.
Some of the latest developments in the market are:
.In June 2024, Evertis, a PET medical-grade filmmaker, initiated a contemporary brand, Evercare, to indulge in the healthcare packaging sector.
.In May 2024, Cormica, a global medical device testing services donor, declared the accession of TPM laboratories, an agreement testing laboratory to increase its R&D possibilities in Europe and the US.
What's Driving Market Forward?
The Expanding Healthcare Sector: The augmenting healthcare and diagnostics sector is the alternate principal donor to the augmentation of the market. The obtainability of diagnostic instruments and biomarkers is important to decide the patient's health situation and provide a probable treatment plan.
Growing Progression of Sustainable Products: The market is encountering notable growth propelled by the growing advancement of justifiable commodities. With surgical ecological worries, healthcare donors are classifying green options to conventional plastics. This, in turn, is having a favorable impact on medical plastics market sales.
Escalating Demand for Homecare: Progressive plastics are growingly utilized to make syringes, catheters, prosthetics, and surgical instruments. The escalating demand for home care is anticipated to propel the usage of medical gadgets, disposable kits, and other instruments thus escalating the requirement for plastics in both assemblage and packaging.
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Which Region Leads Market Growth?
North America: North America accounted for the largest medical plastics market share. The region's robust growth is primarily due to the growing acquisition of healthcare instruments and the elevated prevalence of healthcare inspection.
Europe: Europe is anticipated to witness significant growth from 2024 to 2032. This can be attributed to the existence of entrenched players functioning to maximize the plastic in the making of preventive instruments such as gloves and masks.
How Is Market Segmentation Done?
By Product Outlook:
.Polyethylene (PE)
.Polypropylene (PP)
.Polycarbonate (PC)
.Liquid Crystal Polymer (LCP)
.Polyphenylsulfone (PPSU)
.Polyethersulfone (PES)
.Polyethylenimine (PEI)
.Polymethyl Methacrylate (PMMA)
.Others
By Process Technology Outlook:
.Extrusion
.Injection Molding
.Blow Molding
.Others
By End Use Outlook:
.Medical Parts & Components
oDropper Bulbs
oDrip Chambers
oGaskets & Stoppers
oOrthopedics
oBlood Collection Chambers
oMedical Containers
oOthers
.Tubing
oCatheter Tubing
oDrug Delivery
oGas Supply
oPeristaltic Pump
oOxygen Tubing
oBlood Transport & Delivery
oOthers
.Film and Bags
oBiopharmaceutical Storage
oSaline Bags
oWaste Bags
oOthers
.Surgical Tools
oScalpels
oForceps
oScissors
oOthers
.Medical Cables and Connectors
oDiagnostic Equipment
oProsthetics
oOthers
By Region Outlook:
.North America (US, Canada)
.Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
.Asia Pacific (Japan, China, India, Malaysia, Australia, Indonesia. South Korea)
.Latin America (Brazil, Mexico, Argentina)
.Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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FAQs:
How much is the medical plastics market?
The market size was valued at USD 53.02 billion in 2023 and is projected to grow to USD 85.77 billion by 2032.
What is the growth rate of the medical plastics market?
The global market is projected to register a CAGR of 5.5% during 2023–2032.
Which region held the largest share in the market?
North America held the largest share of the global market in 2023.
Which segment by product led the market?
The polyethylene segment dominated the market in 2023.
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About Polaris Market Research & Consulting, Inc:
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semiconductors, and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high-growth markets, emerging business environments, and the latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced, and extremely qualified team of experts comprising SMEs, analysts, and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers.
Likhil G
Polaris Market Research and Consulting
+ + 1 929-297-9727
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