Medical Plastics Market Size (2024 - 2029)

The global medical plastics market is anticipated to experience significant growth, driven by rising demand for medical devices and increased use of prosthetics, particularly in the Asia-Pacific region. This region not only holds the largest market share but is also projected to be the fastest-growing area due to heightened consumption in countries like China, India, and Japan. However, the market expansion is challenged by environmental concerns related to the disposal of medical plastics and the adverse impacts of the COVID-19 pandemic. The surgical instruments segment is expected to lead the market throughout the forecast period.

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Market Size of Medical Plastics Industry

Medical Plastics Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 5.00 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration Low

Major Players

Medical Plastics Market Major Players

*Disclaimer: Major Players sorted in no particular order

Medical Plastics Market Analysis

The market for Medical Plastic globally is expected to grow at a CAGR of over 5 % during the forecast period. Major factors driving the market studied are the increase in the demand for medical devices from the Asia-Pacific region and the growing usage of prosthetics. On the flip side, the environmental concerns regarding the disposal of medical plastics and the unfavorable conditions arising due to the COVID-19 outbreak are hindering the market growth.

  • The surgical instruments application is expected to dominate the global medical plastics market over the forecast period. 
  • Asia-Pacific region represents the largest market and is also expected to be the fastest-growing market over the forecast period owing to the increasing consumption from countries such as China, India, and Japan.

Medical Plastics Industry Segmentation

The Medical Plastics market report includes:

Type
Traditional Plastics
Polyethylene (PE)
Polypropylene (PP)
Polystyrene(PS)
Polyvinylchloride(PVC)
Engineer Plastics
Acrylonitrile butadiene styrene (ABS)
Polycarbonate (PC)
Polymethylmethacrylate (PMMA)
Polyetheretherketone (PEEK)
Polyoxymethylene (POM)
Polyphenylene Oxide (PPO)
Others
Application
Surgical instruments
Disposables
Diagnosis instruments
Sterilization trays
Anesthetic and imaging equipment
Others
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
MiddleEast and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
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Medical Plastics Market Size Summary

The global medical plastics market is poised for significant growth, driven by increasing demand for medical devices, particularly in the Asia-Pacific region, and the rising use of prosthetics. The market is experiencing a shift from traditional materials like wood and metal to engineering plastics, such as POM, for applications like surgical instrument handles. This transition is attributed to the advantages of plastics, including their non-hygroscopic nature, ease of cleaning, dimensional accuracy, and high impact resistance. The surgical instruments segment is expected to lead the market, with emerging economies benefiting from medical tourism, rising disposable incomes, and heightened health awareness. The adoption of advanced technologies, such as the Da Vinci surgical system, further underscores the growing reliance on medical plastics in surgical applications.

The Asia-Pacific region is anticipated to dominate the medical plastics market, fueled by robust medical device manufacturing in countries like China, India, and Japan. Economic growth and initiatives like the Ayushman Bharat scheme in India are expected to boost healthcare spending, thereby driving demand for medical plastics. Japan's aging population and recent regulatory changes are likely to enhance domestic manufacturing and increase government spending on medical devices. South Korea's burgeoning medical tourism industry also contributes to the rising demand for medical plastics. The market is characterized by fragmentation, with key players such as Saint-Gobain Performance Plastics, Röchling, Celanese Corporation, DuPont, and Mitsubishi Chemical Corporation competing globally.

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Medical Plastics Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Increasing Demand for Medical Devices from the Asia-Pacific Region

      2. 1.1.2 Expanding Prosthetics Market

    2. 1.2 Restraints

      1. 1.2.1 Environmental Concerns Regarding Medical Plastics

      2. 1.2.2 Unfavorable Conditions Arising Due to COVID-19 Outbreak

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porters Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION

    1. 2.1 Type

      1. 2.1.1 Traditional Plastics

        1. 2.1.1.1 Polyethylene (PE)

        2. 2.1.1.2 Polypropylene (PP)

        3. 2.1.1.3 Polystyrene(PS)

        4. 2.1.1.4 Polyvinylchloride(PVC)

      2. 2.1.2 Engineer Plastics

        1. 2.1.2.1 Acrylonitrile butadiene styrene (ABS)

        2. 2.1.2.2 Polycarbonate (PC)

        3. 2.1.2.3 Polymethylmethacrylate (PMMA)

        4. 2.1.2.4 Polyetheretherketone (PEEK)

        5. 2.1.2.5 Polyoxymethylene (POM)

        6. 2.1.2.6 Polyphenylene Oxide (PPO)

        7. 2.1.2.7 Others

    2. 2.2 Application

      1. 2.2.1 Surgical instruments

      2. 2.2.2 Disposables

      3. 2.2.3 Diagnosis instruments

      4. 2.2.4 Sterilization trays

      5. 2.2.5 Anesthetic and imaging equipment

      6. 2.2.6 Others

    3. 2.3 Geography

      1. 2.3.1 Asia-Pacific

        1. 2.3.1.1 China

        2. 2.3.1.2 India

        3. 2.3.1.3 Japan

        4. 2.3.1.4 South Korea

        5. 2.3.1.5 Rest of Asia-Pacific

      2. 2.3.2 North America

        1. 2.3.2.1 United States

        2. 2.3.2.2 Canada

        3. 2.3.2.3 Mexico

      3. 2.3.3 Europe

        1. 2.3.3.1 Germany

        2. 2.3.3.2 United Kingdom

        3. 2.3.3.3 Italy

        4. 2.3.3.4 France

        5. 2.3.3.5 Rest of Europe

      4. 2.3.4 South America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Rest of South America

      5. 2.3.5 MiddleEast and Africa

        1. 2.3.5.1 Saudi Arabia

        2. 2.3.5.2 South Africa

        3. 2.3.5.3 Rest of Middle-East and Africa

Medical Plastics Market Size FAQs

The Medical Plastics Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)

Saint-Gobain Performance Plastics, Röchling, Celanese Corporation, DuPont and Mitsubishi Chemical Corporation are the major companies operating in the Medical Plastics Market.

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