Medical Plastics Market Size, Share, Applications, and Outlook

Medical Plastics Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Type (Standard Plastics, Engineering Plastics, High Performance Plastics (HPP), Silicone, and Others), Application (Medical Disposables, Prosthetics, Medical Instruments and Tools, Drug Delivery, and Others), and Geography

Publication Month : Aug 2020

  • Report Code : TIPRE00009963
  • Category : Chemicals and Materials
  • Status : Published
  • No. of Pages : 153
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The medical plastics market was valued at US$ 24,671.82 million in 2019 and is projected to reach US$ 44,669.63 million by 2027; it is expected to grow at a CAGR of 7.7% from 2020 to 2027.

Medical plastics are made from a huge number of macromolecules. These plastics are utilized to produce consistent and safe instruments in the healthcare industry. They are remarkably long-lasting, supple, and economical. The performance, sterility, and quality of the medical devices are a major factor for market expansion. Medical plastics find a broad range of applications in diagnostic instruments, implants, disposables, drug delivery devices, surgical instruments, syringes, and catheters. The global population is projected to increase in the coming years. With the increasing population, diseases and infections are rampantly overspreading through several mediums. The rising geriatric population further enhances the development of the healthcare sector.

The global medical plastics market in Asia Pacific is expected to grow at the highest CAGR of 8.4% during 2020–2027. The rapid growth of the market in this region is primarily attributed to growing demand for medical plastics due to its applications in medical disposables, prosthetics, medical instruments and tools, and drug delivery.

The recent COVID-19 outbreak, which began in Wuhan, China, in December 2019, has spread around the globe at a fast pace. As of June 2020, the US, Russia, India, China, Italy, France, and Germany, are among the worst-affected countries in terms of positive cases and reported deaths. According to the WHO figures updated in June 2020, ~7,482,952 confirmed cases and ~419,497 deaths have been reported globally. The outbreak has affected economies and industries due to lockdowns, travel bans, and business shutdowns called in several countries. Chemicals and materials is one the world’s major industries. It is suffering from serious disruptions, such as supply chain breaks, technology events cancellations, and office shutdowns, as a result of this outbreak. China is the global manufacturing hub and largest raw material supplier for various industries. The suspension of various plants and factories in China is affecting the global supply chains and adversely impacting the manufacturing and sales of various chemicals and materials. The overall market collapse due to the COVID-19 pandemic is also affecting the global medical plastics market growth.

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Medical Plastics Market: Strategic Insights

medical-plastics-market
Market Size Value inUS$ 24,671.82 Million in 2019
Market Size Value byUS$ 44,669.63 Million by 2027
Growth rateCAGR of 7.7% from 2020-2027
Forecast Period2020-2027
Base Year2020
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Global Medical Plastics Market

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Market Insights

Numerous Advantages Offered by Plastics in Medical Devices Favor Market Growth Globally

Disposable plastics syringes, new heart valves, blood bags, and several medical devices are made of plastics material. To compete with the rising concerns in regard to methicillin-resistant staphylococcus aureus and alike high-tech polymers, hospital-borne staph infections, and antimicrobial plastics have been developed. These plastics repel and kill most of the bacteria, even on high-touch surfaces, and prevent infections. In addition, antimicrobial plastics have a very high efficiency of killing bacteria even when surfaces are not regularly cleaned. This way, use of high-tech polymers and antimicrobial plastics in medical devices helps reduce the risk of disease to patients. Owing to high impact resistance and thermal stability, engineering plastics are widely replacing wood or any other material used as a handle for surgical instruments. Furthermore, plastics need less maintenance and less frequent sterilization. Manufacturers are shifting from wood and metal to engineering plastics such as POM owing to its superior performance, low price, non-hygroscopic property, and good machinability.

Application Insights

Based on application, the medical plastics market is segmented into medical disposables, prosthetics, medical instruments and tools, drug delivery, and others. The medical instruments and tools segment accounted for the largest share of the global market in 2019. Plastics have been used extensively to create medical tools and medical instruments, such as syringes, surgical gloves, insulin pens, catheters, IV tubes, and inflatable splits. Such products are manufactured for one-time use and help avoid the spread of dangerous diseases by eliminating the need to re-use or sterilize a device. Plastics are also being used to create superior antimicrobial touch surfaces which can repel microbes and other bacteria, thus decreasing the spread of dangerous diseases.

Global Medical Plastics Market – by Application, 2019 and 2027

Global Medical Plastics Market – by Application, 2019 and 2027
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Medical Plastics Market, by Type

  • Standard Plastics
  • Engineering Plastics
  • High Performance Plastics (HPP)
  • Silicone
  • Others

Medical Plastics Market, by Application

  • Medical Disposables
  • Prosthetics
  • Medical Instruments and Tools
  • Drug Delivery
  • Others

Company Profiles

  • Celanese Corporation
  • Eastman Chemical Company
  • GW Plastics
  • Orthoplastics Ltd
  • ARAN BIOMEDICAL TEORANTA
  • Rochling
  • SABIC
  • Saint-Gobain
  • Solvay
  • Dow
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Type , Application , and Geography

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States

Frequently Asked Questions


Based on application, why is the medical disposables segment expected to grow at the highest rate during 2020–2027?

The demand for several types for medical disposables for treatment and diagnosis purpose is increasing owing to cost-effectiveness and production efficiency. The demand has also upstaged as it reduces the risk of cross-contamination and infection to patients. Wound management products, diagnostic and laboratory disposables, dialysis disposables, incontinence products, respiratory supplies, sterilization supplies, non-woven disposables, disposable masks, disposable eye gear, disposable gloves are some of the medical disposable extensively used in the healthcare industry.

Can you list some of the major players operating in the global medical plastics market?

Celanese Corporation, Eastman Chemical Company, GW Plastics, Orthoplastics Ltd, ARAN BIOMEDICAL TEORANTA, Rochling, SABIC, Saint-Gobain, Solvay, and Dow are among the major players in the global medical plastics market.

Which region held the largest share of the global medical plastics market?

In 2019, the medical plastic market was predominant in North America at the global level. North America is an attractive market categorized by the increasing demand for medical plastics. The growing innovations for the application of medical plastic backed by purchasing power to buy high priced medical plastic is positively impacting the growth of medical plastics market.

The List of Companies - Fresh Pear Market

  1. Celanese Corporation
  2. Eastman Chemical Company
  3. GW Plastics
  4. Orthoplastics Ltd
  5. ARAN BIOMEDICAL TEORANTA
  6. Rochling
  7. SABIC
  8. Saint-Gobain
  9. Solvay
  10. Dow

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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