Medical Plastics Market Size, Share & Trends Report

Medical Plastics Market Size, Share & Trends Analysis Report By Application (Medical Device Packaging, Medical Components, Orthopedic Implant Packaging), And Segment Forecasts, 2018 - 2025

  • Published Date: Mar, 2018
  • Base Year for Estimate: 2016
  • Report ID: GVR-1-68038-823-7
  • Format: Electronic (PDF)
  • Historical Data: 2014-2016
  • Number of Pages: 138

Industry Insights

The global medical plastics market size was estimated at USD 20.52 billion in 2016. 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 major factor responsible for volatility in the prices of polyvinyl chloride (PVC), polyethylene (PE), polypropylene (PP), and polystyrene. Capacity expansion and contraction have also contributed to price volatility in the market. In addition, rising overproduction in the Chinese market is expected to impact the raw material price.

U.S. medical plastics market

The growing number of insured individuals in the U.S., coupled with the resultant demand for medical devices, is expected to have a positive impact on the industry growth over the forecast years. In addition, the market is characterized by the presence of a large number of companies involved in the production of advanced grade plastics for use in the industry.

The industry is characterized by extensive integration through various stages of the value chain. HELM AG is integrated across all four stages in the value chain from raw material production to plastic production and the manufacturing of end-use products that are used by the hospitals and healthcare institutions including private clinics.

Such polymers are regulated by numerous agencies across the globe. In the Europe, medical devices fall under the EU Council Directive (93/42/EEC), which provides guidance for their consumption. Restructuring of the European regulations for such devices is anticipated to emerge as one of the key factors affecting the industry growth in the region.

The industry is subject to multiple technological advancements pertaining to the production of advanced plastics for use in the healthcare industry. 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 towards R&D to develop advanced products.

High degree of competition in the industry is likely to bolster the consumer buying power. Factors such as product quality and cost competitiveness are the major factors impacting the buyer power decision. High production volumes coupled with the ease of availability of medical plastics is expected to be the increase buyer power in the next few years.

The governing agencies in the states in the U.S. have exhibited an increased affinity towards recycling the plastics. In addition, the federal agencies in the U.S. invested a total of USD 35.9 billion in R&D towards healthcare in 2015, in a move expected to provide impetus to the medical industry growth translating in the industry growth.

Application Insights

The use of thermoforming polypropylene leads provides the option of high strength packaging thereby imparting superior impact resistance to the packaged products. Furthermore, the packaging solutions made using polypropylene are found to be highly durable and sterile leading to a growth in demand.

PETG is a specialized plastic that provides properties such as superior moisture and oxygen barrier coupled with high degree of transparency thereby driving the product demand for packaging medical device components. This trend is expected to drive the growth of plastics used in medical device packaging with the segment expected to grow at a CAGR of 6.3% from 2017 to 2025.

Global medical plastics market

Increasing application of polyethylene in the industry to produce containers, films, packaging, medical bags, catheters, implants, and lid stocks is expected to have a positive impact on the industry growth. In addition, rising technological development pertaining to the manufacture of polyethylene grades is expected to bolster the growth.

Polypropylene demand for orthopedic soft goods is driven by the use of the product for ankle-foot orthosis (AFO), a support used to control the position and motion of the ankle and correction of minor foot deformities. The demand for polypropylene plastics is expected to grow due to the superior strength and impact resistance characteristics, which are a prerequisite for orthopedic soft goods.

The demand for highly strong materials such as ABS for finger & toe splints, heel & finger protection, and leg splints is anticipated to propel growth over the forecast period. In addition, the use of ABS for the products is likely to be driven by easier product availability coupled with superior impact resistance.

The market for orthopedic soft goods is driven by the recurring demand for engineering plastic primarily owing to the superior functional attributes of such plastics. In addition, rising development of advanced engineering plastics by manufacturers is expected to bode well for industry growth over the forecast period.

Polystyrene is used in the production of various devices including plastic boxes, cups, medical keyboards, and vaginal dilator speculum. The product is generally recommended for manufacturing diagnostic instruments, pipettes, flasks, and tissue culture components owing to its ease of sterilization and clarity.

Regional Insights

The increased healthcare spending by the population on account of increasing incidences of lifestyle disorders and diseases in North America is likely to drive the market growth The region is expected to register a growth of 5.9% from 2017 to 2025 due to rise in the demand for such devices, generic drugs, and healthcare services.

The rapid growth of the pharmaceutical industry in countries such as Mexico and Canada is expected to impact the growth of the industry mainly on account of the resultant demand for the product in pharmaceutical packaging. Rising demand for disposables due to the rising prevalence of diseases in the region is expected to drive the demand for medical plastics.

Growing demand for dental and growing body contouring implants in Europe is expected to have a positive impact on the medical plastic industry growth over the next eight years. Increasing disposable income and rising adoption of cosmetic dentistry in the region are expected to propel demand over the forecast period.

The market in Middle East & Africa is likely to be driven by the demand for medical components such as disposable gloves, syringes, and catheters. The market is expected to grow due to the rising preference for high-grade medical facilities by the population in middle and lower income group consumers.

The industry in China is projected to witness substantial growth over the forecast period. The growth can be attributed to high healthcare cost, increasing private and public expenditure on healthcare, and the growing occurrence of diseases. Increasing geriatric population in the country is also expected to be a major contributor to the industry growth.

Medical Plastics Market Share Insights

Between 2010 and 2014, new product development was observed as a major growth strategy adopted by major medical plastic manufacturers such as Celanese Corporation, Eastman Chemical Corporation, and Dow Chemical Corporation. In addition, companies such as GW Plastics also resorted to capacity expansion to increase their market shares and revenues.

Companies in the market focus on strategic tie-ups with medical products and components manufacturing companies that results in an ensured demand for plastics. In addition, these companies are also integrated in terms of producing raw materials as well as medical grade plastics, leading to a decrease in the raw material procurement as well as overhead costs.

The market is characterized by the presence of several manufacturers catering to the local as well as international markets. These players are involved in the manufacture of differentiated products in terms of their performance characteristics. The presence of numerous companies in the market leads to an increase in the buying power of the consumers.

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 revenue growth at global, regional, and country levels and provides an analysis on latest industry trends in each of the sub-segments from 2014 to 2024. For the purpose of this study, Grand View Research has segmented the global medical plastics market report on the basis of application, product, and region:

  • 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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