Medical Plastics Market Size, Share & Trends Report

Medical Plastics Market Size, Share & Trends Analysis Report By Product (PE, PP, PC, LCP, PPSU, PES, PEI, PMMA), By Process Technology (Extrusion, Injection Molding), By Application, By Regions, And Segment Forecasts, 2024 - 2030

  • Report ID: GVR-1-68038-823-7
  • Number of Pages: 152
  • Format: Electronic (PDF)

Research Methodology

A three-pronged approach was followed for deducing the medical plastic market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for medical plastic market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of medical plastic market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Medical Plastic Market Categorization:

The medical plastic market was categorized into three segments, namely product (Polyethylene ,Polypropylene, Polycarbonate, Liquid Crystal Polymer, Polyphenylsulfone, Polyethersulfone, Polyethylenimine, Polymethyl Methacrylate), application (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), and regions (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa).

Segment Market Methodology:

The medical plastic market was segmented into product, application, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The medical plastic market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into twelve countries, namely, the U.S.; Canada; Mexico; Germany; the UK; France; Italy; China; India; Japan; Brazil; Saudi Arabia.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Medical plastic market companies & financials:

The medical plastic market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • Röchling SE & Co. KG – Established in 1822, situated in Germany. The company is engaged in the manufacturing and distribution of thermoplastics and composite materials. The company markets its products in over 25 countries globally with 90 locations. It operates its business through a network of sales and distribution units located in Europe, North America, and Asia, with Europe accounting for the highest percentage of the company’s overall revenues. Its product portfolio includes thermoplastics, thermoplastic components, thermoplastic composites, and composite components. This extensive product portfolio caters to various needs arising from the industrial, medical, and automotive industries.

  • Nolato AB - Nolato AB operates its business through three segments, namely Nolato Medical, Nolato Telecom, and Nolato Industrial. The company established in 1938 and located in Torekov, Sweden.  ts product portfolio includes specialized plastics, silicone, and thermoplastic polyethylene. The products manufactured by the company are used across various industry segments such as medical components & systems, pharma packaging, mobile phone subsystems, automotive, standard plugs & caps, and EMC.

  • Saint-Gobain - Saint-Gobain specializes in the manufacturing and distribution of high-performance polymer products. Established in 1923, and located in the U.S.  The company operates through three business segments, namely fluid systems, engineering components, and composites. The business is further segmented into process systems, coated fabrics, film substrates, life sciences, bearings & tolerance rings, seals & polymers, and foam bonding & gasketing.

  • SABIC - The company is primarily engaged in the manufacture of petrochemical products. It operates its business through five segments, namely petrochemicals, specialties, agrinutrients, and metals. It serves customers from various end-use markets such as agriculture, automotive, building & construction, consumer, electrical & electronics, healthcare, industrial, mass production, and packaging.

  • Orthoplastics Ltd – Founded in 2008, situated inLancashire, UK. The company primarily manufactures and supplies superior-performance Orthopedic devices. Its product portfolio includes ultra-high molecular weight polyethylene (UHMWPE), vitamin E, crosslinking direct compression molding, and component machining.

  • Eastman Chemical Company - The company specializes in the manufacturing and supply of chemicals and plastics. The products manufactured by the company find application in various end-use industries including transportation, building & construction, consumables, tobacco, industrials & chemicals processing, food, agriculture, and health & wellness. It operates its business through over 50 manufacturing locations across North America, Latin America, Europe, and Asia. The company has 41 manufacturing facilities and equity interests in three joint ventures in 12 countries.

  • Celanese Corporation - The company is engaged in the production of chemicals and specialty plastics. Its product portfolio includes various plastics and engineered fabrics categorized into intermediate chemistry, cellulose derivatives, emulsion polymers, EVA polymers, food ingredients, and engineered materials. The company has a presence in North America, Europe, and Asia Pacific and has 33 production facilities across these regions. The company caters its products to various industries including adhesives, paints & coatings, medical & pharmaceuticals, food & beverages, automotive & transportation, energy, packaging & printing, and electrical & electronics.

  • Dow – Established in 2019, situated in Michigan, U.S. The company functions through three segments, namely performance materials & coatings; industrial intermediates & infrastructure; and packaging & specialty plastics. Dow has 104 manufacturing facilities in countries including the U.S., India, Thailand, and South Africa. It caters its products to 31 countries. The company caters to the needs of various enduse industries such as consumer goods, healthcare, food & beverage, personal care, construction, life sciences, paints & coatings, and paper.

  • Tekni-Plex, Inc. - The company is engaged in manufacturing specialized plastics. It operates its business through 24 manufacturing sites across North America, Europe, and Asia Pacific. The company manufactures, develops, and sells high-quality tubing and packaging materials catering to various industries including healthcare, consumer retail, and food & beverage.

  • Solvay S.A. – Founded in 1863, situated in Brussels, Belgium. The company operates its business via four segments, namely advanced formulations, materials, performance chemicals, and functional polymers. The products manufactured by the company find applications in various industries including aeronautics, automotive, electronics & electrical, packaging, pharmaceuticals, oil & gas, healthcare, wires & cables, packaging, and semiconductors.

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

Medical Plastic Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2023, historic information from 2018 to 2022, and forecast from 2024 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Medical Plastic Market Report Assumptions:

  • The report provides market value for the base year 2023 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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