The Medical Plastics Market Size is Projected to Grow to USD 31.7 Billion by 2024, at a CAGR of 6.8% - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Medical Plastics Market by Type (Engineering Plastics, HPP, Standard Plastics, Silicone, and Others), Application (Medical Disposables, Prosthetics, Medical Instruments & Tools, Drug Delivery, and Others), Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

The medical plastics market is projected to register a CAGR of 6.8%, in terms of value, between 2019 and 2024.

The increasing demand for healthcare solutions owing to an increase in disposable income, changing lifestyles, and growing population in emerging economies are the major drivers for the medical plastics market. Other driving factors include the increasing healthcare investments and the use of advanced medical technology such as customized prosthetics, AI-driven surgeries, and the use of microdevices for procedural applications. However, the fluctuations in the regulations across different countries and time-taking regulatory approval process can hinder the growth of the market.

The medical instruments & tools segment accounts for the largest market share, in terms of value, in the medical plastics market. Suitability and biocompatibility of medical plastics for the manufacturing of various medical devices, such as surgical and procedural instruments, diagnostic instruments, and dental tools, are driving the demand.

The engineering plastics segment is projected to lead the market during the forecast period. These plastics are used in diagnostic instruments, drug delivery systems, orthopedic devices, and dental tools. Engineering plastics provide many advantages over standard plastics, such as good malleability, faster production time, low weight, resistance to high impact, flame, shock, and chemical, and better friction reduction.

APAC is projected to be the largest, as well as the fastest-growing medical plastics market during the forecast period owing to the continuously increasing population, rising disposable income, rise in lifestyle diseases, and the increasing aging population. In addition, rapid alterations in the competitive landscape of the healthcare industry and advent of new and innovative medical technologies, such as 3D printing, polymer blended materials, bio-based materials, and others in the region are propelling the demand for medical plastics.

The objective of this study is to define, describe, and forecast the medical plastics market based on various segmentations and strategically analyze these market segments with respect to individual growth trends, growth prospects, and contribution to the overall growth. In this report, the medical plastics market has been segmented based on application, type, and region.

Key Topics Covered:

1 Introduction

1.1 Objectives of the Study

1.2 Market Definition

1.3 Market Scope

1.4 Currency

1.5 Unit Considered

1.6 Stakeholders

1.7 Limitations

2 Research Methodology

3 Executive Summary

4 Premium Insights

4.1 Attractive Opportunities in the Medical Plastics Market

4.2 Medical Plastics Market Size, By Type

4.3 Medical Plastics Market Size, By Application

4.4 Medical Plastics Market, By Major Countries

4.5 APAC Medical Plastics Market, By Country and Application, 2018

5 Market Overview

5.1 Introduction

5.2 Market Dynamics

5.2.1 Drivers

5.2.1.1 Increase in Demand for Advanced Medical Technology and Devices

5.2.1.2 Growing Healthcare Investments in Emerging Economies

5.2.1.3 Shift Toward Minimally Invasive Medical Procedures

5.2.2 Restraints

5.2.2.1 Time-Consuming Regulatory Approval Process

5.2.3 Opportunities

5.2.3.1 R&D to Develop Advanced Plastics

5.2.3.2 Development of Patient-Specific Implants and 3D Printed Devices

5.2.4 Challenges

5.2.4.1 Waste Management Concerns

5.3 Porter's Five Forces Analysis

5.4 Macroeconomic Overview and Key Trends

5.4.1 Introduction

5.4.2 Trends and Forecast of GDP

5.4.3 Trends of Healthcare Industry

6 Medical Plastics Market, By Type

6.1 Introduction

6.2 Standard Plastics

6.3 Engineering Plastics

6.4 High Performance Plastic (HPP)

6.5 Silicone

7 Medical Plastics Market, By Application

7.1 Introduction

7.2 Medical Disposables

7.3 Prosthetics

7.4 Medical Instruments & Tools

7.5 Drug Delivery

8 Medical Plastics Market, By Region

9 Competitive Landscape

10 Company Profiles

Companies Mentioned

• Arkema
• BASF
• Biomerics
• Celanese Corporation
• Covestro
• DSM
• E. I. Du Pont De Nemours and Company
• Eastman Chemical Company
• Ensinger
• Evonik
• Invibio
• Lanxess
• Londyllbasell
• Lubrizol
• Mitsubishi Chemical Advanced Materials
• Polyone
• Rchling
• RTP Company
• SABIC
• Saint Gobain Performance Plastics
• Solvay
• Tekni Plex
• Teknor Apex
• Trinseo
• Wacker Chemie

For more information about this report visit https://www.researchandmarkets.com/r/yynwe8

About ResearchAndMarkets.com

ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.