Medical Injection Molded Plastic Market To Reach $37.61 Billion By 2030

Medical Injection Molded Plastic Market Growth & Trends

The global medical injection molded plastic market size is anticipated to reach USD 37.61 billion by 2030, according to a new report by Grand View Research, Inc. The market is projected to grow at a CAGR of 4.3% from 2023 to 2030. Increasing healthcare investments across emerging nations is expected to drive the market. The global healthcare sector continues to expand at a faster rate than the overall economy, thereby contributing to the growth of medical injection molded plastics.

Between 2002 and 2022, global healthcare spending, in real terms, increased by approximately 4.0% per year, while the economy grew by 3.0% annually. This significant increase in healthcare spending was particularly notable in a group of 42 countries that experienced rapid economic growth. On average, real healthcare spending per capita grew 2.2 times, and its share of GDP increased by 0.6 percentage points. In most cases, healthcare spending outpaced GDP growth between 2002 and 2022.

Medical injection molded plastics are gaining importance in the manufacturing of medical devices and medical products on account of their properties such as durability, temperature resistance, corrosion resistance, and ability to withstand wear & tear. Increasing demand for injection molded plastics in medical applications, such as syringes, inhalation masks, catheters, and other surgical tools, is expected to further drive the market growth over the forecast period.

 Request a free sample copy or view report summary: Medical Injection Molded Plastic Market Report

Medical Injection Molded Plastic Market Report Highlights

• Based on product, the acrylonitrile butadiene styrene (ABS) segment is anticipated to grow at a CAGR of 4.5% during the forecast period. ABS finds applications in tendon prostheses, non-absorbable sutures, cleaning equipment, drug delivery systems, and tracheal tubes due to its high-impact resistance and durability

• Based on application, the implants segment is expected to grow at a CAGR of 4.3% over the forecast period. Various implantable medical devices including pacemaker casing and joint replacements, use biocompatible injection molded plastics to minimize adverse reactions in the body

• Mergers, acquisitions, strategic partnerships, capacity expansions, and the introduction of new products are the major strategies undertaken by the major players to strengthen their market presence. In June 2020, Eastman Chemical Company announced that it would be expanding and reinforcing its partnership with IMCD Group to distribute its plastics in different markets

Medical Injection Molded Plastic Market Segmentation

Grand View Research has segmented the global medical injection molded plastic market based on product, application, and region:

Medical Injection Molded Plastic Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Polypropylene (PP)

• Acrylonitrile Butadiene Styrene (ABS)

• Polyethylene (PE)

• Polystyrene (PS)

• Polycarbonate (PC)

• Others

Medical Injection Molded Plastic Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Medical Components

• Implants

• Cleanroom Supplies

• Mobility Aids

• Others

Medical Injection Molded Plastic Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

  • Poland

  • Netherlands

• Asia Pacific

  • China

  • India

  • Japan

  • Australia

  • South Korea

  • Indonesia

  • Malaysia

  • Thailand

• Central & South America

  • Brazil

  • Argentina

• Middle East & Africa

  • Saudi Arabia

  • UAE

  • South Africa

List of Key Players in the Medical Injection Molded Plastic Market

• Dow, Inc.

• SABIC

• Eastman Chemical Company

• Celanese Corporation

• Covestro AG

• Rutland Plastic

• Evonik Industries AG

• Sumitomo Chemical Co., Ltd.

• Arkema

• INEOS Group