COVID-19's Impact on the Medical Plastics Industry, 2020-2021: Expected to Register a CAGR of 17.2%, Approx 10% Higher Than Pre-COVID Projections - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "COVID-19 Impact on the Medical Plastics Market by Type (Engineering Plastics and Standard Plastics), Application (Medical Disposables, Prosthetics, Medical Instruments & Tools and Drug Delivery) and Region - Global Forecast to 2021" report has been added to ResearchAndMarkets.com's offering.

The objective of this study is to define, describe, and forecast the impact of COVID-19 on 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.

The report profiles several leading players of the medical plastics market that include SABIC (Saudi Arabia), BASF (Germany), Celanese (US), Evonik (Germany), Solvay (Belgium) and Covestro (Germany). The report also includes detailed information about various growth strategies adopted by these key players to strengthen their position in the market during this crisis period.

The global medical plastics market is projected to register a CAGR of 17.2%, in terms of value, between 2020 and 2021. This is approximately 10% higher than earlier pre-COVID growth projections.

The global medical plastics market size during this COVID-19 pandemic is projected to grow from USD 25.1 billion in 2020 to USD 29.4 billion by 2021, at a CAGR of 17.2%. The major drivers for the medical plastics industry include the growing demand from OEMs and medical device/equipment manufacturers for the production of critical care systems such as ventilators, thermal scanners, and respirators.

The medical disposables segment is estimated to be the largest application of medical plastics during the forecast period.

The medical disposables segment accounts for the largest share in the medical plastics market. The use of medical plastics is increasing due to their usefulness. Medical disposables can be defined as single-use products that are used in surgical as well as procedural applications. The use of these medical products in procedural applications and general checkup is increasing. In addition, the use of these disposables as instructed by various agencies, such as USFDA and Europe EMA, are propelling the demand for medical plastics globally. Increased demand for disposables such as gloves, masks, gowns, and other PPEs will drive the market during this pandemic.

The standard plastics segment is expected to be the fastest-growing type of medical plastics during the forecast period.

Standard plastics are sourced from crude oil and are non-renewables. These plastics generally include PVC, PE, PP, PS, PMMA, and EVA. The major applications of these plastics include the manufacturing of masks, gloves, drapes, gowns, trays, catheters, syringes, orthopedic devices, surgical tools, and lab wares. Increased requirements of personal protective equipment (PPE) such as face shields, masks, gloves, drapes, single-use syringes, and others will boost consumption of standard plastics such as PP, PE, and PVC drive demand.

Europe is expected to be the fastest-growing medical plastics market during the crisis period.

The medical plastics market in Europe has witnessed a considerable demand driven by the growing requirement for ventilators, respirators, thermal scanners, and other patient care systems. Europe consists of some profoundly affected countries such as Italy, Spain, Germany, and France, among others, which have a large demand for patient care systems. In addition, growth in the requirement of PPEs will also drive demand for medical plastics in the region.

Key Topics Covered

1 Introduction

1.1 Objectives of the Study

1.2 Market Definition

1.2.1 Medical Plastics

1.2.2 COVID-19

1.3 Confirmed Cases and Deaths, by Geography

1.4 Market Scope

1.5 Currency

1.6 Unit Considered

1.7 Stakeholders

1.8 Limitations

2 COVID-19 Impact on Medical Plastics Ecosystem

2.1 Introduction

2.2 Value Chain of Medical Plastics Industry

2.2.1 Raw Material Suppliers

2.2.2 Manufacturers

2.2.3 Distributors/Convertors

2.2.4 Oem/Medical Device Manufacturers

2.3 Macroeconomic Indicators

2.3.1 Drivers

2.3.1.1 Growing Awareness & Concern About Health & Personal Hygiene

2.3.1.2 Growing Demand for Medical Plastics from Various End Users in the Healthcare Industry

2.3.2 Challenges

2.3.2.1 Maintaining Supply Chain and Logistics

2.3.2.2 Restricting Counterfeit Products

3 Customer Analysis

3.1 Introduction

3.1.1 Shift in Healthcare Industry

3.1.1.1 Disruption in the Industry

3.1.1.2 Impact on Customers' Output & Strategies to Improve Production

3.1.1.3 Impact on Customers' Revenues

3.1.1.4 Customer's Most Crucial Regions

3.1.1.5 Short-Term Strategies to Manage Cost Structure and Supply Chains

3.1.2 New Market Opportunities/Growth Opportunities

3.1.2.1 Measures Taken by Customers

3.1.2.2 Customers Perspective on the Growth Outlook

4 Impact of COVID-19 on Medical Plastics Segments

4.1 Top Applications in the Healthcare Industry

4.1.1 Medical Disposables

4.1.2 Medical Instruments & Tools

4.1.3 Drug Delivery

4.2 Bottom Ranking Applications in the Healthcare Industry

4.2.1 Prosthetics

4.2.2 Dental Tools

4.3 Top Polymer Types in the Healthcare Industry

4.3.1 Standard Plastics

4.3.1.1 PVC

4.3.1.2 PP

4.3.1.3 PE

4.3.2 Engineering Plastics

4.3.2.1 PC

4.3.2.2 PA

4.3.2.3 PET

4.3.3 Others

4.3.3.1 Peek

4.3.3.2 TPE & TPU

4.3.3.3 Others

4.4 Biggest Gainers, by Top Companies

5 Impact of COVID-19 in Medical Plastics Market, by Region

5.1 Introduction

5.2 APAC

5.2.1 China

5.2.2 India

5.2.3 Japan

5.3 Europe

5.3.1 Italy

5.3.2 Germany

5.3.3 Spain

5.3.4 UK

5.4 North America

5.4.1 US

5.5 Rest of World

6 Strategies of Medical Plastics Companies During COVID-19 Pandemic

6.1 Sabic

6.1.1 Impact on Company Portfolio

6.1.1.1 Product/Material

6.1.1.2 Application

6.1.1.3 COVID-19 Related Developments/Strategy

6.2 BASF

6.3 Celanese Corporation

6.4 Solvay

6.5 Arkema

6.6 Covestro

6.7 Ensinger

6.8 Lubrizol

6.9 Evonik

6.10 Trinseo

For more information about this report visit https://www.researchandmarkets.com/r/q4662h.