WELLESLEY, Mass., Jan. 03, 2018 (GLOBE NEWSWIRE) -- Plastics usage in medical devices is continuously evolving, with new types of medical devices, advances in polymer technology, and legislative and regulatory changes. In a new report, Medical Plastics: Global Markets to 2022, BCC Research estimates the global medical plastics market will grow at a compound annual growth rate (CAGR) of 6.2% to reach 13.6 billion pounds and 18.3 billion pounds in 2017 and 2022, respectively.
This comprehensive report, which updates an earlier BCC Research study, provides a leading-edge analysis of the continually evolving medical plastics space. It reviews the current legislative, regulatory and environmental issues; new products and technologies related to medical devices, sterilization techniques and impact on polymer selection; polymer usage in medical devices; product lines and trade-named products. The report also details the industry’s efforts to mitigate the impact of new products, especially biodegradable polymers.
Long-term trends in the global healthcare industry will continue to push market growth. The movement of healthcare activities to less-costly locations, such as outpatient clinics and homes, has increased the need for lighter materials, especially for housings. The growth of minimally invasive medical devices to minimize trauma, operating and recovery times also has increased the need for housings for medical devices, as well as for lighter, easily designed and non-corrosive materials such as plastics.
Research Highlights
- The U.S. accounted for nearly 40% of global consumption of medical plastics in 2016.
- This report analyzes major resins such as polyvinyl chloride (PVC), high density polyethylene (HDPE), low density polyethylene, linear low-density polyethylene (LDPPE/LLDPE), high impact polystyrene (HIPS), acrylonitrile butadiene styrene (ABS), polyesters, polycarbonates, acrylics, and TPEs, among others.
- Commodity thermoplastics dominate the global market with about 60% of total volume.
- Source reduction has emerged as a potentially effective means of reducing solid waste.
“Public and governmental concern over environmental pollution, especially management of solid waste, has affected plastics more than other materials since plastics are perceived to be the worst offending materials,” said Andrew McWilliams, BCC Research analyst and author of the report. “Thus, the solid waste reduction options of recycling, source reduction, degradability and incineration have become factors in plastics marketing. Since medical waste is not recycled or landfilled and incineration is costly, source reduction is seen as a viable solution. These technologies will be employed by medical product manufacturers to reduce the amount of plastic entering solid waste streams, reducing the cost of incineration, usually borne by the end-user.”
About BCC Research
BCC Research is a publisher of market research reports that provide organizations with intelligence to drive smart business decisions. By partnering with industry experts worldwide, BCC Research provides unbiased measurements and assessments of global markets covering major industrial and technology sectors, including emerging markets. For more information about BCC Research, please visit bccresearch.com. Follow BCC Research on Twitter at @BCCResearch.