Medical Plastics Market Industry Key Players, Trend, Analysis and Forecast

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Medical Plastics Market | Global Industry Report, 2031

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Medical Plastics Market

Rep Id : TMRGL1115

Medical Plastics Market (Type: PVC, PE, PP, PS, Engineering Plastics, Silicone, and Others; and Process

May 2019

Technology: Extrusion, Injection Molding, Blow Molding, and Others) - Global Industry Analysis, Size,

Chemicals And Materials

Share, Growth, Trends, and Forecast, 2022-2031

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Medical Plastics Market Outlook 2031 The global medical plastics market was valued at US$ 41.0 Bn in 2021 It is estimated to grow at a CAGR of 7.2% from 2022 to 2031

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The global medical plastics market is expected to reach US$ 76.7 Bn by the end of 2031 Analysts’ Viewpoint on Medical Plastics Market Scenario Increase in usage of plastics in the medical industry in various equipment such as catheters, syringes, surgical instruments, and disposables is driving the medical plastics market. Demand for medical plastics has been rising significantly since the start of the COVID-19 pandemic. Medical plastic products are revolutionizing the medical industry. Growth in usage of polymers in medical devices has transformed the marketplace, with plastic medical devices steadily replacing devices made of other materials such as glass, ceramics, and metals. Plastics for medical applications can vary; however, they have certain common characteristics and properties. Medical plastics need to have a lower level of toxicity due to their chemical inertness and non-solubility in water.

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Overview of Medical Plastics Market Medical plastics refer to plastics used to make medical products. These include products for in vitro diagnostics and primary packaging for pharmaceuticals. National and international standards, such as EU Regulation 2017/745 (MDR) or ISO 10993, define the specifications for

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materials that can be used in plastics for medical devices. Manufacturers of medical plastics can use any polymeric material as long as it complies with the regulations and standards.

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Low Cost and Long Durability of Plastics Driving Global Medical Plastics Market

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Medical Plastics Market | Global Industry Report, 2031

Development of a medical device is a lengthy process that requires extensive testing, quality

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control systems, and adherence to a constantly changing set of regional and global regulatory

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criteria for medical plastics. Increase in demand for new and creative plastics for medical devices

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is fueling the demand for materials (particularly polymers) to assist device development. Various

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factors are considered while deciding the polymer to be used for a particular device application.

An interventional guidewire, for instance, may require a medical plastic coating to offer a cushioning tip, biocompatible hydrophilic surface, radiopaque character, and abrasion

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resistance, while maintaining manufacturing efficiency. The blood/tissue biocompatibility of a material for a pacing or neuromodulation as well as its resistance to oxidative and hydrolytic degradation in the body (over many years), its dielectric properties, and physical strength and flexibility may play a role in the selection of medical plastics. There are common considerations

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in selecting plastics for medical devices such as biological performance (biocompatibility,

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biostability, and infection risk), application risk (strength, flexibility, fatigue resistance, heat,

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and/or electrical resistance), chemical resistance (cleaning product resistance, drug resistance,

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and sterilization stability), process ability, regulatory and compliance requirement, and cost of

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medical plastics.

Low manufacturing costs and long durability are driving the medical plastics market. Metal and glass equipment corrode easily. However, medical plastics provide a more reliable option than other materials. Medical plastics also have a longer shelf-life and are less likely to shatter.

Consequently, they are a feasible alternative. This is expected to propel the demand for medical plastics in the near future.

Technical Advancements in Molding Augmenting Global Medical Plastics Market Medical 3D printing is gaining popularity in the clinical and research-based medical industry. It involves the adoption of 3D printing (also known as additive manufacturing) technologies to create tangible duplicates of anatomical structures. Patient-specific models for 3D printing are derived from 3D imaging methods, such as MRI and X-Ray CT, and a digital computer model is created to depict the structures to be manufactured. Small (even single unit) batches can be made due to the flexibility, speed, and low cost of the 3D printing technique. These models help hospitals and other point-of-care (POC) organizations plan surgeries. They can also be used to teach or explain complex medical topics to patients about to undergo surgery.

Designers can make changes due to the 3D printing's versatility, which eliminates the need for additional equipment or tools. 3D manufacturing techniques offer various clinical benefits.

Manufacturers have used 3D printing technologies to create devices with complex geometries such as porous knee replacements that allow for tissue growth and incorporation.

Manufacturing techniques may require numerous pieces to be produced individually and screwed or welded together, while 3D printing enables the creation of an entire product or device component at once.

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High Demand for Polyethylene Medical Plastics due to their Flexibility and Durability In terms of type, the global medical plastics market has been divided into polyvinylchloride, polyethylene, polypropylene, polystyrene, engineering plastics, silicones, and others. Majority of medical plastics are made from polyethylene. The segment is projected to grow at a CAGR of 7.1% from 2022 to 2031.

Polyethylene is preferred as it is a flexible, long-lasting thermoplastic with numerous uses. It is a highly suitable plastic for medical applications due to its strong impact resistance, chemical resistance, and minimal moisture absorption. It is resistant to strong cleaning solutions and does not fade or harbor harmful microorganisms. It is regularly used in medical implants, as it is a porous synthetic polymer that is biologically inert and does not breakdown in the body.

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Medical Plastics Market | Global Industry Report, 2031

Rise in Demand for Catheters and Syringes to Drive Global Medical Plastics Market In terms of application, the global medical plastics market has been split into disposables, diagnostic instruments, catheters & syringes, implants, dental tools, surgical instruments, medical bags, drug delivery devices, and others. Disposables and catheters & syringes segments are likely to expand at a similar growth rate of 6.0% during the forecast period. Disposable medical items, such as bed pans, breathing masks, and IV tubing, have been witnessing a shift from other traditional materials to plastic since the last few years. Plastic is currently being employed in pill casings as well as a variety of internal implants, including catheters and joint replacements.

Regional Outlook of Global Medical Plastics Market Medical plastics are produced in large quantities across Asia Pacific. In terms of volume, the region held about 45% share of the global medical plastics market in 2021. China and India are major manufacturers of medical plastics in the region. Europe has several facilities that manufacture medical plastics. The region is home to major medical plastics manufacturers such as Arkema Group, Evonik AG, and BASF SE. Germany and France are leading manufacturers of medical plastics in Europe.

North America, another significant producer of medical plastics, held 19.1% share of the global market in 2021. Latin America and Middle East & Africa accounted for relatively minor share of the global medical plastics market. Manufacturers are striving to expand into these regions through strategic acquisitions and mergers.

Analysis of Key Players in Medical Plastics Market The global medical plastics market is consolidated, with a few players controlling a majority of the share. Most of the firms are spending significantly on comprehensive research and development, primarily to develop high quality medical plastics. Expansion of product portfolios and mergers and acquisitions are major strategies adopted by key vendors in the medical plastics market. Arkema S.A., BASF SE, Celanese Corporation, Covestro AG, Royal DSM, DowDuPont Inc., Solvay SA, Exxon Mobil Corporation, Trinseo S.A., Trelleborg AB, The Lubrizol Corporation, Saint-Gobain S.A., Tekni-Plex, Inc., and Röchling SE & Co. KG are some of the prominent entities operating in the global medical plastics market.

Key Developments in Global Medical Plastics Market On April 12, 2022, Solvay announced that its medical equipment made using Udel high-performance polysulfone (PSU) thermoplastic would be recycled at the end of their useful lives in a new sustainability initiative that the company has embarked on with Mitsubishi Chemical Advanced Materials (MCAM). The project is expected to combine MCAM's expertise in washing and mechanically purifying the material with Solvay's capacity to evaluate the chemistry of the end-of-life polymer in order to build a strong recycling approach that would offer customers with materials that fully comply with all standards.

On November 17, 2021, Arkema announced a new advanced bio-circular medical polymer for the manufacture of surgical tools and plastics for medical devices. Advanced Bio-Circular (ABC) materials from Arkema have a successful track record in some of the world's most demanding applications. Arkema's trademark amino 11 chemistry, which is produced from the oil of the renewable castor bean, yields these bio-based, recyclable polymers. Castor beans do not compete with the food chain directly. Furthermore, the new material is resistant to gamma, steam, ETO, and e-beam sterilization, which in turn is opening up new avenues and possibilities for the production of reusable surgical equipment and the replacement of petroleum-based polymers.

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Medical Plastics Market | Global Industry Report, 2031

On August 2, 2021, LOTTE Chemical, a large Korea-based chemical manufacturer, used BASF's Irgastab, a non-discoloring processing stabilizer, to generate the polypropylene (PP) required for medical purposes. Demand for PP-based syringes has skyrocketed owing to the global rollout of COVID-19 immunizations. LOTTE Chemical’s medical PP has been applied to the LDS (low dead space) syringes developed by a medical syringe manufacturer in South Korea. These specialized products are designed to minimize the amount of a drug left in the device after medical plastic injection, which leads to reduced vaccine wastage. Consequently, demand for LDS syringes is considerably high across the globe, as it is estimated to enable 20% more people to get the dose with the same amount of vaccine.

Each of these players has been profiled in the medical plastics market report based on parameters such as company overview, financial overview, business strategies, product portfolio, business segments, and recent developments.

Global Medical Plastics Market Snapshot Attribute Market Size Value in 2021

Detail

US$ 41.0 Bn

Market Forecast Value US$ 76.7 Bn in 2031 Growth Rate 7.2% (CAGR) Forecast Period

2022–2031

Historical Data Available 2020 for Quantitative Units

Market Analysis

US$ Bn for Value & Kilo Tons for Volume

It includes cross segment analysis at global as well as regional level. Furthermore, qualitative analysis includes drivers, restraints, opportunities, key trends, Porter’s Five Forces analysis, value chain analysis, and key trend analysis.

Market share analysis by company (2021) Competition

Company profiles section includes overview, product portfolio,

Landscape

sales footprint, key subsidiaries or distributors, strategy & recent developments, and key financials

Format

Electronic (PDF) + Excel

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Medical Plastics Market | Global Industry Report, 2031

Type Poly Vinyl Chloride Polyethylene Polypropylene Polystyrene Engineering plastics Silicone Others (including Acrylate and Polysulfone) Process Technology Extrusion Injection Molding

Market

Blow Molding

Segmentation

Others (including Rotational Molding) Application Disposables Diagnostic Instruments Catheters & Syringes Implants Dental Tools Surgical Instruments Medical bags Drug Delivery Devices Others (including Saline Bottles) North America

Regions Covered

Latin America Europe Asia Pacific Middle East & Africa U.S. Canada Germany U.K. France Spain Italy

Countries

Russia & CIS

Covered

Japan China India ASEAN Brazil Mexico GCC South Africa

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Medical Plastics Market | Global Industry Report, 2031

Arkema S.A. BASF SE Celanese Corporation Covestro AG Royal DSM DowDuPont Inc. Companies

Solvay SA

Profiled

Exxon Mobil Corporation Trinseo S.A. Trelleborg AB The Lubrizol Corporation Saint-Gobain S.A. Tekni-Plex, Inc. Röchling SE & Co. KG

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Frequently Asked Questions How big was the medical plastics market in 2021?

The medical plastics market stood at US$ 41.0 Bn in 2021.

How is the medical plastics market expected to grow by 2031?

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