DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/qjn7w5/medical_plastics) has announced the addition of the "Medical Plastics Market by Type, by Application and by Region - Forecast to 2020" report to their offering.
The global medical plastics market size, in terms of value is projected to reach USD 6,978.03 Million by 2020, at a CAGR of 7.12% between 2015 and 2020
In terms of volume, the global medical plastics market is projected to reach 2,826.4 kilotons by 2020, at a CAGR of 6.15% during the forecast period
The increasing number of patents filed for medical devices & applications by global players, growing manufacturing industries, and continuous expansion and merger & acquisition activities undertaken by companies are key factors for the growth of global medical plastics market.
In terms of types, engineering plastics is projected to register the fastest-growth among other types followed by the polypropylene segment in the global medical plastics market. The demand of engineering plastics is mainly driven due to its better mechanical and/or thermal properties than the more widely used commodity plastics. Apart from this, each type of engineering plastic has its own unique set of properties making it the material of choice in several applications. Thus, the application of engineering plastic is extensive and is growing at a fast pace.
The Implants are the fastest growing application segment in the global medical plastics market. Polymers polyethylene, polyurethane, PET, PMMA, hydrogels, fluropolymers, and polycarbonate are used in manufacturing of implants The implants market is witnessing new technological developments such as CAD/CAM dentistry (computer-aided design and computer-aided manufacturing) that is used to improve the design and creation of dental restorations especially dental prostheses, including crowns, crown lays, veneers, and orthodontic appliances, this is one of the major drives for the implants market in medical plastics market.
Asia-Pacific region, being the largest consumer of medical plastics is also projected to register the high CAGR of 10.22% in the medical plastics market, in terms of value between 2015 and 2020. This growth is majorly driven due to increase in medical plastics demand in sectors such has medical and healthcare in various industrial sectors.
Though the medical plastics market is gaining importance at a fast pace, but few factors act as a bottleneck towards the growth of medical plastics. The governmental control over healthcare costs and significant investment and time required for product development are the major restraints towards the growth of medical plastics market.
The companies such as Phillips-Medisize Corporation, Freudenberg Medical, Nolato AB, Röchling Engineering Plastics, and West Pharmaceutical Services Inc. are the dominant market players in the global medical plastics market. The diverse product portfolio and strategically positioned R&D centers, continuous adoption of development strategies, and technological advancements are few factors that are responsible for strengthening the market position of these companies in medical plastics market. They have been adopting various organic and inorganic growth strategies such as expansion, merger & acquisition, partnership, new product launch & product development to enhance the current market scenario of medical plastics. This would help the medical plastics market to evolve in further applications which would in turn help them to expand their global reach.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Medical Plastics Market, By Type
8 By Application
9 By Region
10 Competitive Landscape
11 Company Profiles
- Freudenberg Medical, Llc.
- GW Plastics
- Medplast Inc.
- Nolato AB
- Nypro Inc.
- Parker Hannifin Corporation
- Phillips-Medisize Corporation
- Röchling Group
Saint Gobain Performance Plastics
For more information visit http://www.researchandmarkets.com/research/qjn7w5/medical_plastics