Medical Plastics Market Report

Medical Plastics Market Analysis By Application (Medical Device Packaging, Medical Components, Orthopedic Implant Packaging, Orthopedic Soft Goods, Wound Care, Tooth Implants, Denture Base Material), And Segment Forecasts, 2014 - 2025

Published: May 2017  |  138 Pages  |  Format: PDF  |  Report ID: GVR-1-68038-823-7

Industry Insights

The global medical plastics market size was estimated at USD 20.52 billion in 2016. Increasing demand for medical grade plastics owing to superior properties such as overall device weight reduction coupled with the development of premium grade plastics is expected to drive the market growth over the forecast period.

The global population has exhibited a sustained growth over the past few years leading to an increasing demand for healthcare devices over the forecast period. The resultant growth of the industry envisages the rise in the demand for premium grade plastics for use in medical devices leading to market growth.

U.S. medical plastics market revenue, 2014 - 2025 (USD Million)

U.S. medical plastics market

The rapid growth of the pharmaceutical industries in the U.S. is expected to impact the growth of the in the economy, mainly on account of the resultant demand for the product in pharmaceutical packaging. In addition, high levels of public healthcare expenditure coupled with government investments in the economy are expected to drive the market growth.

The market for is expected to be strengthened by the development of advanced products by the manufacturers. Increase in the functionality of engineered plastics coupled with the absence of any significant threat to human health is expected to benefit the market growth. Growing penetration of the product in the medical device industry is expected to drive the market growth.

Modernization of the European regulations for medical devices is likely to be a key factor affecting the industry growth in the region. Medical and IVD devices are the most regulated products that are marketed in the Europe region with regulations specified under the directive (93/42/EEC and 98/79/EC). The presence of such stringent regulations is expected to limit the market growth in the region.

Medical waste incineration with plastics such as PVC release various hazards chemicals such as dioxins and mercury which can cause serious public health effects including cancer, birth defects, infertility, endometriosis, and immune system impairment. As a result, the industry is expected to witness a growing rejection of such products with high levels of product replacement.

Increasing demand for various surgical procedures including breast augmentation, nose jobs, liposuction, eyelid surgery and face and neck lifts up is expected to drive demand for surgical instruments, which in turn is likely to have a positive impact on the industry growth. Technological advancements in the knee and hip implant surgeries is expected to have a positive impact on the industry growth

The industry is characterized by continuous technological advancements to produce refined products to gain the market share. The companies resort to the introduction of technologically advanced products, exemplified by Celanese Corporation and Dow Chemical Corporation in the introduction of enhanced polyethylene resins marketed under the trade name ELITE.

Application Insights

The demand for highly durable products such as PETG and ABS owing to ease of sterilization coupled with superior barrier properties is expected to drive the orthopedic implants packaging segment to grow at a CAGR of 5.3% from 2017 to 2025. In addition, the segment is likely to grow in the wake of growing prevalence of the orthopedic surgeries.

The orthopedic soft goods segment exhibits a high demand for PEEK and propylene plastics. due to high strength coupled with superior resistance against adverse environmental conditions. In addition, the demand for the product is expected to grow in the wake of rising efforts of the orthopedic goods manufacturers towards the reduction in the overall weight of the products.

The demand for high strength materials such as ABS for heel & finger protection, finger & toe splints, and leg splints is expected to register growth over the next eight years. In addition, the use of ABS for the products is facilitated by easier availability coupled with the superior impact resistance.

The use of plastics in wound care is niche application segment due to high quality sterilized product requirements and is expected to reach USD 1,089.8 million by 2025 due to superior performance such as absorption of wound exudates and aid in blood clotting in severe wounds. The market for wound care plastics is expected to exhibit high levels of R&D carried out by key manufacturers

Improved flexibility, high transparency, and resistance to the electromagnetic waves offered by engineering plastic materials is expected to drive demand for use in biopharma devices over the forecast period. In addition, the demand for the product in vials, prefilled syringes, biopharma delivery device subsystems, and cartridges is expected to drive the market growth.

Regional Insights

Germany was one of the major markets for medical plastics in Europe accounting over for 16.0% of the total market in 2016 and expected to reach 17.9% by 2025. Increasing aging population and rising occurrence of chronic diseases in the country has resulted in an increased healthcare expenditure leading to market growth.

The industry in Asia Pacific is expected to grow at a CAGR of 6.6% from 2017 to 2025 on account of the increasing applications of plastics in wound care, packaging, and mobility aid among others. Furthermore, the increasing demand for high quality medical devices and components by hospitals in major economies such as China, India, Singapore is likely to drive growth.

The market in India is expected to witness high growth owing to the increased government efforts to improve public health conditions. In addition, the increasing private participation in the healthcare industry is expected to increase the demand for high quality healthcare devices and components in the country.

The industry in Central & South America is projected to witness a growth of 4.5% during the forecast years, driven primarily by the increasing consumption of the products in key applications such wound care, denture base materials, and disposable components. The industry is likely to grow on account of economic development in Brazil and Argentina.

Competitive Insights

The industry is highly competitive with the presence of a number of companies across the major economies. Key players are involved in the production of various grades of plastics for use in myriad applications. The market exhibits a high volume of raw material procurement from the manufacturers located in Asia Pacific.

The companies in the industry operate their businesses through strategic tie-ups with the medical device and component manufacturing companies which result in an ensured demand for the product by the manufacturers. In addition, a number of players provide price discounts in a bid to attract the consumers and increase the annual revenues.

The market in Asia Pacific is expected to grow at a CAGR of 6.6% from 2017 to 2025 on account of the increasing applications scope of the product in wound care, packaging, and mobility aid among others. Furthermore, the increasing demand for high quality medical devices and components by hospitals in major economies such as China, India, Singapore is likely to drive growth.

The market in India is expected to witness high growth owing to the increased government efforts to improve public health conditions. In addition, the increasing private participation in the healthcare industry is expected to increase the demand for high quality healthcare devices and components in the country.

The Central & South America medical plastics industry is projected to witness a growth of 4.5% during the forecast years, driven primarily by the increasing consumption of the products in key applications such wound care, denture base materials, and disposable components. The industry is likely to grow on account of economic development in Brazil and Argentina.

Report Scope

Attribute

Details

Base year for estimation

2016

Actual estimates/Historical data

2014 & 2015

Forecast period

2017 - 2025

Market representation                                                

Volume in Kilotons, revenue in USD Million and CAGR from 2017 to 2025

Region Scope

North America, Europe, Asia Pacific, Middle East & Africa, and Central & South America

Country scope

U.S., Germany, UK, Italy, France, China, India, Japan, Brazil

Report coverage             

Volume and Revenue forecast, competitive landscape, growth factors and trends

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Segments covered in the report

This report forecasts volume and revenue growth and provides an analysis on the industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the Global medical plastics market on the basis of application:

  • Application Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)

    • Medical Device Packaging

      • Polyvinyl Chloride

      • Polypropylene

      • PETG

      • HDPE

      • Polystyrene

      • PEEK

      • Others

    • Medical Components

      • Polyvinyl Chloride

      • Polypropylene

      • Polyethylene

      • Polycarbonate

      • PEEK

      • ABS

      • Polystyrene

      • Engineering Plastics

      • Others

    • Orthopedic Implant Packaging

      • Polyvinyl Chloride

      • ABS

      • PETG

      • Polycarbonate

      • Others

    • Orthopedic Soft Goods

      • Polypropylene

      • Silicone

      • ABS

      • Polycarbonate

      • PEEK

      • Engineering Plastics

    • Wound Care

      • Polypropylene

      • Thermoplastic Polyurethanes

      • Others

    • Cleanroom Supplies

      • Polyvinyl Chloride

      • Polypropylene

      • PETG

      • Polycarbonate

      • PEEK

      • ABS

      • Polystyrene

      • Engineering Plastics

      • Others

    • BioPharma Devices

      • Polycarbonate

      • Silicone

      • Engineering plastic

      • Others

    • Mobility Aids

      • ABS

      • Polycarbonate

      • PEEK

      • Engineering plastic

    • Sterilization and Infection Prevention

      • Polypropylene

      • Silicone

      • ABS

      • Polycarbonate

      • PEEK

      • Engineering plastic

    • Tooth Implants

      • Polycarbonate

      • PEEK

      • Others

    • Denture Base Material

      • PMMA

      • Polycarbonate

      • Polyamide

      • Others

    • Other Implants

      • Polypropylene

      • Silicone

      • Polycarbonate

      • PEEK

      • Engineering Plastics

    • Others

      • Polyvinyl Chloride

      • Polypropylene

      • Polystyrene

      • Silicone

      • ABS

      • Polycarbonate

      • PEEK

      • Engineering plastic

  • Region Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)

    • North America

      • U.S.

    • Europe

      • Germany

      • UK

      • Italy

      • France

    • Asia Pacific

      • China

      • India

      • Japan

    • Central & South America

      • Brazil

    • Middle East & Africa

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