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.
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.
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.
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.
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
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
Report Attribute |
Details |
Market size value in 2023 |
USD 53.7 billion |
Revenue forecast in 2030 |
USD 90.1 billion |
Growth rate |
CAGR of 7.7% from 2023 to 2030 |
Base year for estimation |
2022 |
Historical data |
2019 - 2021 |
Forecast period |
2023 - 2030 |
Quantitative units |
Volume in kilotons, revenue in USD million, and CAGR (%) from 2023 to 2030 |
Report coverage |
Volume forecast, revenue forecast, company profiles, competitive landscape, growth factors, and trends |
Segments covered |
Product, application, region |
Region scope |
North America; Europe; Asia Pacific; Central & South America; and Middle East & Africa |
Country Scope |
U.S.; Canada; Mexico; Germany; U.K.; Italy; France; China; Japan; India; Brazil; Saudi Arabia |
Key companies profiled |
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 |
Customization scope |
Free report customization (equivalent up to 8 analyst’s working days) with purchase. Addition or alteration to country, regional, and segment scope. |
Pricing and purchase options |
Avail customized purchase options to meet your exact research needs. Explore purchase options |
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
b. The global medical plastics market size was estimated at USD 50.3 billion in 2022 and is expected to reach USD 53.7 billion in 2023.
b. The global medical plastics market is expected to grow at a compound annual growth rate of 7.7% from 2023 to 2030 to reach USD 90.1 billion by 2030.
b. The medical components segment dominated the medical plastics market with a share of 40.52% in 2022. This is attributed to the rising product demand in product demand in various applications such as diagnostic devices, trays, pans, containers, syringes, implant trials, and medical cover sheets.
b. Some key players operating in the medical plastics market include Solvay S.A. Celanese Corporation, Eastman Chemical Company, Dow, SABIC and Evonik Industries AG
b. Key factors that are driving the medical plastics market growth include rising healthcare expenditure, ascending demand for better healthcare facilities, improving medical infrastructure, and increasing demand for surgical instruments and tools such as gloves, clamps, forceps, syringes, surgical trays, and others.
b. North American region led the global medical plastics market in 2022 accounting for the largest revenue share of more than 33.0%
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Surging demand for facemasks to positively impact the demand for medical plastics over the near future. For instance, the US Department of Health estimated healthcare workers would need three and a half billion face marks over the next year in a worst-case pandemic scenario. Prominent manufacturers of face masks such as 3M have doubled the production to 1.1 Billion per year from 400 million per year. The updated report will account for COVID-19 as a key market contributor.