Market Size of Medical Plastics Industry
| 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
*Disclaimer: Major Players sorted in no particular order |
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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:
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| Surgical instruments | |
| Disposables | |
| Diagnosis instruments | |
| Sterilization trays | |
| Anesthetic and imaging equipment | |
| Others |
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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.
Medical Plastics Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Increasing Demand for Medical Devices from the Asia-Pacific Region
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1.1.2 Expanding Prosthetics Market
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1.2 Restraints
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1.2.1 Environmental Concerns Regarding Medical Plastics
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1.2.2 Unfavorable Conditions Arising Due to COVID-19 Outbreak
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1.3 Industry Value Chain Analysis
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1.4 Porters Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Buyers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION
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2.1 Type
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2.1.1 Traditional Plastics
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2.1.1.1 Polyethylene (PE)
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2.1.1.2 Polypropylene (PP)
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2.1.1.3 Polystyrene(PS)
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2.1.1.4 Polyvinylchloride(PVC)
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2.1.2 Engineer Plastics
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2.1.2.1 Acrylonitrile butadiene styrene (ABS)
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2.1.2.2 Polycarbonate (PC)
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2.1.2.3 Polymethylmethacrylate (PMMA)
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2.1.2.4 Polyetheretherketone (PEEK)
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2.1.2.5 Polyoxymethylene (POM)
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2.1.2.6 Polyphenylene Oxide (PPO)
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2.1.2.7 Others
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2.2 Application
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2.2.1 Surgical instruments
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2.2.2 Disposables
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2.2.3 Diagnosis instruments
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2.2.4 Sterilization trays
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2.2.5 Anesthetic and imaging equipment
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2.2.6 Others
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2.3 Geography
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2.3.1 Asia-Pacific
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2.3.1.1 China
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2.3.1.2 India
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2.3.1.3 Japan
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2.3.1.4 South Korea
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2.3.1.5 Rest of Asia-Pacific
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2.3.2 North America
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2.3.2.1 United States
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2.3.2.2 Canada
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2.3.2.3 Mexico
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2.3.3 Europe
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2.3.3.1 Germany
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2.3.3.2 United Kingdom
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2.3.3.3 Italy
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2.3.3.4 France
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2.3.3.5 Rest of Europe
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 MiddleEast and Africa
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2.3.5.1 Saudi Arabia
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2.3.5.2 South Africa
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2.3.5.3 Rest of Middle-East and Africa
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Medical Plastics Market Size FAQs
What is the current Medical Plastics Market size?
The Medical Plastics Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)
Who are the key players in Medical Plastics Market?
Saint-Gobain Performance Plastics, Röchling, Celanese Corporation, DuPont and Mitsubishi Chemical Corporation are the major companies operating in the Medical Plastics Market.
