19-Aug-2019: The global medical plastic
compounds market size is expected to reach USD 80.40
billion by 2025, according to a new report by Grand View Research, Inc. It is
anticipated to register a CAGR of 5.2% during the forecast period. Increasing
aging population in economies such as China, India, Germany, and Austria is
projected to remain a key driving factor.
Growing demand for
healthcare facilities and services coupled with government initiatives and
support towards healthcare is projected to have a positive impact on the market
growth. Increasing aging population in countries, such as Germany, Belgium,
Austria, Denmark, and Japan is anticipated to prompt growth of the medical
plastic compound market. Increasing use of medical devices such as MRI, X-ray,
robotic dispensing systems, and apheresis machines would further drive the
demand over the forecast period.
Plastics have found
a wide scope of usage in medical and healthcare industry owing to superior
properties of the product, such as non-magnetism, impermeability, durability,
and sustainability. Radiation resistance of this plastic would offer lucrative
growth opportunities and new avenue for the manufacturers.
Surging demand for
medical device plastics in applications, including surgical instruments,
catheters, disposables, bags, implants, and drug delivery systems is
anticipated to drive the demand. Rising R&D spending to produce bio-based
plastics with superior properties, such as better quality and minimal health
hazards is expected to further boost the medical plastic compound market over
the forecast period.
Stringent
regulations associated with manufacturing and disposal of waste is expected to
offer lucrative growth opportunities to the key players. Manufacturers are
coming up with various innovative ideas to improve durability and quality and
to reduce the cost of devices.
In
depth research report on Medical Plastic Compounds Market
Further key findings from the report suggest:
·
Polyethylene was the second largest product segment, in terms
of volume and accounted for over 18% market share in terms of revenue in 2017.
Increasing usage of polyethylene for manufacturing surgical cables, artificial
tendons, orthopedic sutures, and tubing is anticipated to compliment demand.
·
Asia Pacific is expected to remain the fastest growing
regional market with projected CAGR of 5.8% in terms revenue from 2016 to 2025.
Developing healthcare infrastructure and rising disposable income in countries,
such as China, India, and Japan is projected to propel the growth
·
Drug delivery system is anticipated to register a CAGR of
5.4% in terms of revenue over the forecast period.Polymers are widely used in
drug delivery system to enhance drug stability and to disguise the unpleasant
taste of the drugs
·
Major companies operating in the medical plastic compound
market include Baxter International, GW Plastics, Cyro Industries, Becton &
Dickinson, Dow Chemical, Freudenberg Medical LLC, DuPont, ExxonMobil, Rochling
Group, Medplast Inc., Nolato AB, Orthoplastics Ltd., and Saint Gobain
Performance Plastics
·
Baxter International Inc., has announced to increase
production of components for disposable devices in Mountain Home, Arkansas.
Grand View Research
has segmented the global medical plastic compound market on the basis of product,
application, and region:
Medical Plastic Compounds Product Outlook (Volume, Kilo Tons;
Revenue, USD Million, 2014 - 2025)
·
Polyvinyl Chloride
·
Polyethylene
·
Polypropylene
·
Polystyrene
·
Polyester
·
Polycarbonate
·
Polyurethane
·
Acrylics
·
Others
Medical Plastic Compounds Application Outlook (Volume, Kilo
Tons; Revenue, USD Million, 2014 - 2025)
·
Disposables
·
Catheters
·
Surgical Instruments
·
Medical Bags
·
Implants
·
Drug Delivery System
·
Others
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more research reports of this category:
About
Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
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