Dublin, April 24, 2024 (GLOBE NEWSWIRE) -- The "Medical Plastics - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Medical Plastics Market to Reach $50.5 Billion by 2030
The global market for Medical Plastics estimated at US$31 Billion in the year 2022, is projected to reach a revised size of US$50.5 Billion by 2030, growing at a CAGR of 6.3% over the analysis period 2022-2030.
"Plastics in Healthcare: Pioneering New Frontiers in Medical Device Evolution" explores the innovative role of plastics in advancing medical devices. The report delves into the trends shaping both the medical devices and medical plastics industries, offering a SWOT analysis of medical plastics. Against the backdrop of a global economic update, it highlights how the COVID-19 pandemic has revitalized interest in plastics for medical applications.
In terms of competition, the report assesses the competitive market presence of 97 players worldwide in 2023, categorizing their status as strong, active, niche, or trivial. It further discusses the specific plastics used in medical devices, as well as the various types of medical plastics available. Lastly, recent market activity in this sector is reviewed, providing insights into the dynamic landscape of plastics in healthcare.
Engineering Plastics, one of the segments analyzed in the report, is projected to record a 9.1% CAGR and reach US$6.3 Billion by the end of the analysis period. Growth in the High Performance Plastics (hpp) segment is estimated at 7.6% CAGR for the next 8-year period. 
The U.S. Market is Estimated at $8.2 Billion, While China is Forecast to Grow at 7.8% CAGR
The Medical Plastics market in the U.S. is estimated at US$8.2 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$8.2 Billion by the year 2030 trailing a CAGR of 7.8% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5% and 5.4% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 5.9% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$5.1 Billion by the year 2030.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 604 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $31 Billion |
| Forecasted Market Value (USD) by 2030 | $50.5 Billion |
| Compound Annual Growth Rate | 6.3% |
| Regions Covered | Global |
MARKET OVERVIEW
- Plastics in Healthcare: Pioneering New Frontiers in Medical Device Evolution
- Trends Shaping the Medical Devices and Medical Plastics Industries
- Medical Plastics - A SWOT Analysis
- Global Economic Update
- COVID-19 Revives Interest in Plastics for Medical Industry
- COMPETITION
- Competitive Market Presence - Strong/Active/Niche/Trivial for 97 Players Worldwide in 2023 (E)
- Plastics Used in Medical Devices
- Types of Medical Plastics
- Recent Market Activity
- INFLUENCER/PRODUCT/TECHNOLOGY INSIGHTS
MARKET TRENDS & DRIVERS
- Bioplastics in the Medical Sector: A Sustainable Innovation Gaining Interest
- Growing Applications of Bioresorbable and Biodegradable Polymers
- Biodegradable Polymers in Nano Drugs: A Growing Market
- Rise in Importance of 3D Printing in Manufacturing of Medical Devices
- Multi-Jet Fusion Technology: Revolutionizing Medical 3D Printing
- PEEK Emerges as a Key Material for 3D Printing Medical Devices
- Micro-Moulding Medical Plastics, an Essential Manufacturing Technique for Implants and other Medical Devices
- Silicone Gains Increased Acceptance in Medical Applications
- Growing Prominence of Silicone in Surgical and Medical Device Bonding Drive Demand in Medical Applications
- Wearable Medical Devices: A Lucrative End-use Market for Medical Silicone
- Silicone Elastomers Gain Attractive Penetration in Medical & Healthcare Industry
- Growing Adoption of Medical Robots Creates Demand for High Strength Plastics
- Advancements in Medical Plastics and Production Capabilities Drive Innovative Applications
- Growing Demand for Point of care Diagnostics Drive Gains
- Plastics Aid Artificial Organs Revolutionize Medical Industry
- Engineered Resins Continue to Evolve
- PEEK Polymers Gain Importance in Orthopedic Implants
- Thermoplastic Elastomers Find Growing Use in Medical Industry
- Rising Popularity of TPEs for Medical Tubing Applications
- Antimicrobial Plastics for Medical Devices Gain Prominence
- Trends in Decorating Techniques Used in Medical Device Manufacture
- Disposables Widen Demand for Advanced Polymers
- Medical Device Packaging: A Pivotal Aspect of Modern Healthcare System
- Sterilization Techniques Play a Vital Role in Selection of Polymers for Medical Applications
- Sustainable Healing: Pioneering the Recycling Revolution in Medical Plastics
- Rise in Healthcare Expenditure to Drive Growth
- Demographic Trends Push the Market Ahead
FOCUS ON SELECT PLAYERS (Total 97 Featured)
- BASF SE
- Lanxess AG
- Eastman Chemical Company
- Kuraray Co., Ltd.
- Exxon Mobil Corporation
- Covestro AG
- Chi Mei Corporation
- AdvanSource Biomaterials Corporation
- Invibio Ltd.
- Addiplast SA
- Engineered Polymers (India) Pvt., Ltd.
- Distrupol Ltd.
- Elix Polymers SLU
- Kraton Corporation
- GW Plastics, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/v2tibe
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