Shanghai Lina Medical Device Technology Co., Ltd.
Shanghai Lina Medical Device Technology Co., Ltd.
Company Products

Medical Plastics Market Size, Share and Regional Forecasts, 2020-2027

Main market

The global medical plastics market size was US$29.93 billion in 2019 and is expected to reach US$54.29 billion by 2027, with a compound annual growth rate of 7.1% during the forecast period.

 

Medical plastics are plastic products specifically designed for applications in the healthcare industry. They are resistant to chemicals, temperatures and corrosion. This makes them easy to sterilize regularly and efficient for storing other medical fluids. The main polymers used in medical applications are polypropylene and polycarbonate, which are used in applications such as MRI housings and surgical tools. Devices made of ceramic, steel or glass are now being replaced by plastic due to the material's durability and cost-effectiveness. Plastics are used in the manufacture of medical products such as inhalation masks, bedpans, IV tubing, surgical instruments, implants, drug cases, and more. These plastics are also used in surgeries and can prevent the spread of infection by simply throwing them away after a single use. These plastic medical devices are made with an antimicrobial surface. These surfaces are very effective at repelling and killing dangerous bacteria.

 

The Economics Behind Medical Plastic Treatments

In addition to being widely used, medical plastics are also very economical and have a longer service life. Glass and metal devices are easily broken or corroded, but plastic is unbreakable and corrosion-resistant, making it an ideal material for medical products. Many medical plastic devices are disposable and can be resterilized to extend their life. Most plastics can be recycled, which is also beneficial to environmental protection. This makes medical plastic products more convenient and cost-effective, with less of a burden on the environment.

 

Market trends


market trends


Growth factors

 

The medical plastics market has witnessed high growth due to technological advancements such as device miniaturization, multi-purpose drug packaging, and point-of-care (POC) diagnostic instruments. This is one of the factors driving the growth of the market. For example, custom blow molding is a technical solution designed to produce thinner pharmaceutical bottles, improve moisture vapor permeability performance, and strengthen screw caps. Additionally, Unique Device Identification (UDI) and other barcodes for device identification were constructed to facilitate biocompatibility testing. These technologies lead to high consumption of plastics for medical applications, thus supporting the market growth rate. Companies are working together to develop products to address new product needs in medical applications such as POC diagnostics, medical device miniaturization and multi-purpose packaging. Technological advancements help improve patient outcomes, thereby driving the growth of the global market.

Market segmentation analysis


market segmentation analysis


Based on application, the market includes disposable medical supplies, medical devices, prosthetics and implants, drugs and implants, and others. In 2019, the medical disposables segment dominated this market share. This dominance is due to the relatively low cost, ease of sterilization, and efficiency of single-use products such as gloves, masks, and injectables. The medical device segment includes wound dressing products, infusion bags and other products. Increasing aging population and use of plastics in medical procedures are leading to the growth of this market.

The prosthetics and implants segment will witness significant growth due to rising consumer awareness about cosmetics and cosmetic dentistry and rising disposable income. High accident rates in various countries have contributed to the growth in consumption. The pharmaceutical packaging segment is expected to grow due to the emergence of new technological solutions such as self-administration devices. Additionally, the ease of manufacturing of these solutions requiring low-cost raw materials coupled with support from pharmaceutical regulatory associations is supporting market growth.

 

Market area analysis


market area analysis

The North American market size was USD 5.36 billion in 2019. Developments in materials technology in the healthcare industry are driving product demand. High disposable income and changing consumer lifestyles, along with growing R&D investments, are driving the adoption of technologically advanced medical products in the region. The United States is one of the major consumers of medical devices, including medical plastic devices. The country also imports medical devices from Belgium, the main product being classified by NAICS and valued at about $100. In 2011 it was $76.61 million.

Asia Pacific dominates the medical plastics market share and is likely to continue to maintain its dominance owing to rising consumer demand for personal hygiene and sanitation.


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