Medical Plastics Market Size, Share & Trends Analysis Report By Product (Polyethylene, Polycarbonate, Liquid Crystal Polymer, Polyethylenimine, Polymethyl Methacrylate, And Others), By Application, By Region, And Segment Forecasts, 2023 - 2030

Report Overview

The medical plastics market size was USD 50.3 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 7.7% from 2023 to 2030. The growing geriatric population in North America, Europe, and Asian countries like Japan and increasing demand for home healthcare are the major factors driving the market growth in the forecast period.

Enforcement & upgrading of various infection prevention standards coupled with a growing volume of surgical, hospital, and outpatient procedures are anticipated to drive the market growth over the forecast period. Fluctuation in oil prices has been a significant factor responsible for volatility in the prices of polyethylene (PE), polypropylene (PP), and polycarbonate (PC). Capacity expansion and contraction have also contributed to price volatility in the market.

The U.S. market was valued at USD 14,752.95 million in 2022. The growing elderly population and growing demand for at-home healthcare are going to drive the market over the forecast period. According to the latest U.S. census, 16.5% of the U.S. population, i.e., 54 million, is over 65. By 2030, this number is expected to rise to 74 million. The number of people over the age of 85, who need the most care, is growing even faster.

In March 2021, the U.S. President, Joe Biden, proposed spending USD 400 billion on Medicaid over eight years to fund at-home care for elderly and disabled people as well as increase the wages of caregivers. The COVID-19 pandemic has made in-home care more appealing than nursing home facilities, as home care reduces healthcare costs and is more convenient for patients. This is expected to increase the demand for home care medical devices and consumables, which can positively impact the market growth in the U.S.

Product Insights

Polyphenylsulfone (PPSU) dominated the global market in the product segment and accounted for more than 52.0% overall revenue share in 2022. Polyphenylsulfone exhibits good heat and chemical resistance, which makes it ideal for the replacement of metals in medical applications. These plastics possess high flexural strength, impact resistance, and durability and are ideal for producing single- and multi-use surgical instruments. Its high-temperature resistance makes it suitable for medical devices that need steam-sterilized repeatedly. These plastics are increasingly being used in surgical robots and biopharmaceutical processing.

Polypropylene (PP) is used for manufacturing protective packaging and medical equipment due to its high toughness and durability. Furthermore, the strong chemical bonds make it suitable for manufacturing medical components, including disposable syringes, connectors, finger-joint prostheses, non-absorbable sutures, reusable plastic containers, pharmacy prescription bottles, clear bags, beakers, test tubes, and others. Polypropylene is also used in hernia and pelvic organ prolapse repair operations and as a transvaginal mesh.

Application Insights

The medical components segment dominated the application segment for the global market and accounted for the largest revenue share of more than 40.0% in 2022. The growing application scope of PP in the manufacturing of diagnostic devices, trays, pans, containers, syringes, implant trials, and medical cover sheets is expected to drive the demand. Polypropylene is expected to witness substantial growth in medical components application owing to its low weight, high bacterial and chemical resistance, and low cost. It has a wide scope of application in medical disposable manufacturing. Furthermore, it can be molded easily in perfect dimensions as needed and thus has a high demand in the production of syringes.

Mobility aids are the second most significant segment where plastics are used. The usage of plastics for developing mobility aids is expected to grow significantly due to the increasing geriatric population worldwide. Technological advancements and rising expenditure in the healthcare industry are expected to drive the market further. This is expected to increase the global consumption of plastics such as acrylonitrile butadiene styrene (ABS), PEEK, and polycarbonate (PC).  Using plastics in mobility aids such as wheelchairs, drinking aids, and bath seats is expected to contribute not only to the surged product demand but also toward using plastics as substituents for metals in different medical applications owing to their lightweight. In addition, superior properties of medical plastics, such as strength and fatigue resistance, are expected to drive market growth.

Region Insights

North America dominated the regional segment and accounted for the overall revenue share of more than 33.0% in 2022. The demand for Medical Plastics in North America is driven by the growing elderly population in the US and the increasing demand for home healthcare services. Rising product demand in pharmaceutical packaging applications and rapid growth of pharmaceutical industries in Mexico and Canada are further expected to drive the regional market. For instance, the elimination of stringent regulations by the Mexican government, which had earlier restricted the establishment of new manufacturing units, has resulted in the development of new pharmaceutical manufacturing facilities for significant companies, such as Takeda and Astellas, in the country. This strategy has played an essential role in driving the domestic pharmaceutical sector, which, in turn, is likely to fuel the product demand in the coming years.

In Europe, medical plastics are regulated by numerous agencies across the globe. In Europe, medical devices fall under Regulation (EU) 2017/745, which guides their usage. Restructuring of the European regulations for such devices is anticipated to emerge as one of the critical factors affecting the industry growth in the region. The industry is subject to multiple technological advancements in producing advanced plastics for use in the healthcare industry. Some major companies like Solvay S.A, Evonik Industries AG, and Röchling SE & Co. KG are in Europe. The companies in the market resort to new product developments as one of the major strategies to achieve market growth. In addition, key market players invest significantly in R&D to develop advanced products.

Key Companies & Market Share Insights

The global market key players operating in the market are Solvay S.A. Celanese Corporation, Eastman Chemical Company, Dow, SABIC, and Evonik Industries AG, along with a few medium and small regional players. Established players are developing new products through R&D suitable for medical applications.

For instance, in March 2022, Evonik Industries AG announced VESTAKEEP iC4800 3DF, a new osteoconductive PEEK (polyether ether ketone) filament that improves fusion between bones and implants. Some of the prominent players operating in the global Medical Plastics Market are:

• Röchling SE & Co. KG;

• Nolato AB;

• Saint-Gobain Performance Plastics;

• SABIC;

• Orthoplastics Ltd;

• Eastman Chemical Company;

• Celanese Corporation;

• Dow;

• Tekni-Plex;

• Solvay S.A.;

• HMC Polymers;

• ARAN BIOMEDICAL TEORANTA;

• Trelleborg AB;

• Avantor Inc;

• Trinseo

• Evonik Industries AG 

Recent Developments

• In July 2023, SABIC unveiled its latest breakthrough in sustainable material solutions with the introduction of PCR-based NORYL™ resin technology. Featuring 30 percent post-consumer recycled content, the innovative NORYL NH5120RC3 resin not only demonstrates a 10 percent reduction in global warming potential (GWP) but also caters to the diverse needs of engineering thermoplastic applications, including the medical plastic industry

• In October 2021, Tekni-Plex revealed its strategic move towards bolstering its patient care solutions platform with the acquisition of Johnson Plastic Group. This key business expansion empowers Tekni-Plex Healthcare with enhanced medical device capabilities and a wider global reach, enriching the company's ability to cater to diverse needs in the healthcare industry, especially for medical plastics

Medical Plastics Market Report Scope

Global Medical Plastics Market Report Segmentation

This report forecasts revenue global level, and provides an analysis of the latest industry trends in each of the sub-segments from 2023 to 2030. For this study, Grand View Research has segmented the global medical plastics market report based on product, application, and region:

• Product Outlook (Volume, Kilotons & Revenue, USD Million, 2019 - 2030)

  • Polyethylene (PE)

  • Polypropylene (PP)

  • Polycarbonate (PC)

  • Liquid Crystal Polymer (LCP)

  • Polyphenylsulfone (PPSU)

  • Polyethersulfone (PES)

  • Polyethylenimine (PEI)

  • Polymethyl Methacrylate (PMMA)

  • Others

• Application Outlook (Volume, Kilotons & Revenue, USD Million, 2019 - 2030)

  • Medical Device Packaging

  • Medical Components

  • Orthopedic Implant Packaging

  • Orthopedic Soft Goods

  • Wound Care

  • Cleanroom Supplies

  • BioPharm Devices

  • Mobility Aids

  • Sterilization and Infection Prevention

  • Tooth Implants

  • Denture Base Material

  • Other Implants

  • Others

• Region Outlook (Volume, Kilotons & Revenue, USD Million, 2019 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • U.K.

    • Italy

    • France

  • Asia Pacific

    • China

    • India

    • Japan

  • Central & South America

    • Brazil

  • Middle East & Africa

    • Saudi Arabia