NEWARK, Del, Dec. 18, 2023 (GLOBE NEWSWIRE) -- The Türkiye medical plastic industry size is projected to reach US$ 217.5 million in 2023 and US$ 328.9 million in 2033. Over the assessment period, demand for medical plastic in Türkiye is anticipated to rise at a CAGR of 4.2%. The medical industry increasingly relies on single-use medical devices, and medical plastics play an essential role in producing such products due to their cost-effectiveness, sterility, and ease of manufacture.
Ongoing technological advancements in the healthcare industry have led to the development of sophisticated medical devices and equipment. These advanced devices often require specialized cables and connectors made from high-performance medical plastics to ensure reliable and precise functionality.
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With the increasing adoption of telemedicine, there is rising demand for medical devices made from plastics that are suitable for remote patient monitoring and telehealth applications. The trend toward sustainability and environmental responsibility is influencing the medical plastic industry.
The medical sector is subject to strict regulatory standards and quality requirements. Medical plastics used in cables and connectors must meet stringent criteria for biocompatibility, sterilization, and safety to ensure compliance with regulatory standards by ISO and FDA.
Key Takeaways from the Report
- By 2033, Türkiye's medical plastic demand is anticipated to rise at a 4.2% CAGR.
- Based on end-use, the medical cable and connector segment is set to expand at a CAGR of 4.8% by 2033.
- Türkiye's medical plastic industry is expected to reach a valuation of US$ 328.9 million in 2033.
- In terms of plastic-type, polyvinyl chloride (PVC) is projected to surge at a CAGR of 2.6% by 2033.
- Sales of medical plastic in Türkiye grew at a CAGR of 3.8% between 2018 and 2022.
"Türkiye’s medical plastic industry is driven by the increasing demand for sterilization and infection control, which play crucial roles in the medical field to ensure patient safety and prevent the spread of diseases. The growing trend for self-administration and development of new drug delivery technologies are creating significant opportunities in the medical plastic industry," - says Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.)
Competitive Landscape
Türkiye's medical plastic industry is fragmented, with leading players accounting for around 45% to 50% of the overall share.
Key medical plastic companies in the country are investing in continuous research to offer new products and increase production capacity to meet end-user demand. Leading players are inclined toward adopting strategies to strengthen their footprint, such as partnerships, mergers, acquisitions, and facility expansions.
Key Companies Profiled
- Celanese Corporation
- Trinseo PLC
- Ensinger Group
- BASF SE
- The Dow Chemical Company
- Saudi Basic Industries Corp (SABIC)
- DuPont de Nemours, Inc.
- Arkema Group
- Evonik Industries
- Eastman Chemical Company
- LyondellBasell Industries N.V.
- Hanwha Group
- Covestro AG
- Solvay SA
- EMCO Industrial Plastic Inc.
- The Lubrizol Corporation
- Trelleborg Group
- Teknor Apex
- Spartech LLC
- Raumedic AG
- HMC Polymers Company Limited
- Tekni-Plex, Inc.
Recent Developments in Türkiye Medical Plastic Industry-
- In October 2021, Avient launched two new products, adding to its MEVOPUR family of medical materials to help pharmaceutical packaging and medical device manufacturers achieve their sustainability goals more quickly.
Celanese Corporation is a leading producer of specialty materials and distinctive chemistry solutions utilized in most significant industries and consumer applications.
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Get More Insights into the Türkiye Medical Plastic Industry Report:
In its latest report, Future Market Insights (FMI) offers an unbiased analysis of the Türkiye medical plastic industry, providing historical data from 2018 to 2022 and forecast statistics for the period 2023 to 2033.
The study reveals growth projections based on plastic type (polyvinyl chloride (PVC) thermoplastic elastomer vulcanizates (TPE-V), polyethylene (PE), polycarbonate (PC), polypropylene (PP), PET, polyamides, thermoplastic polyurethane (TPU), polymethyl methacrylate, acrylonitrile butadiene styrene (ABS), silicone rubber, others) and end-use (medical parts and components, tubing, film and bags, surgical tools, medical cables and connectors, diagnostic equipment, prosthetics, others) for the period of 2023 and 2033.
Türkiye Medical Plastic Industry Segmentation
By Plastic Type:
- Polyvinyl Chloride (PVC)
- Thermoplastic Elastomer (TPE)
- Thermoplastic Elastomer Vulcanizates (TPE-V)
- Thermoplastic Elastomer Styrenics (TPE-S)
- Polyethylene (PE)
- Polycarbonate (PC)
- Polypropylene (PP)
- PET
- Polyamides
- Thermoplastic Polyurethane (TPU)
- Polymethyl Methacrylate
- Acrylonitrile Butadiene Styrene (ABS)
- Silicone Rubber
- Liquid Silicone Rubber
- High Consistency Rubber
- Room Temperature Vulcanizing (RTV) Silicone
- Silicone Adhesives
- Others
By End-use:
- Medical Parts and Components
- Dropper Bulbs
- Drip Chambers
- Gaskets and Stoppers
- Orthopedics
- Blood Collection Chambers
- Medical Containers
- Others
- Tubing
- Catheter Tubing
- Drug Delivery
- Gas Supply
- Peristaltic Pump
- Oxygen Tubing
- Blood Transport and Delivery
- Others
- Film and Bags
- Biopharmaceutical Storage
- Saline Bags
- Waste Bags
- Others
- Surgical Tools
- Scalpels
- Forceps
- Scissors
- Others
- Medical Cables and Connectors
- Diagnostic Equipment
- Prosthetics
- Others
By Region:
- North America
- Latin America
- Europe
- South Asia & Pacific
- East Asia
- The Middle East & Africa (MEA)
About the Chemicals and Materials Division at Future Market Insights (FMI)
The chemicals and materials division of Future Market Insights (FMI) offers a distinct and pinpoint analysis of the chemicals and materials industry. This exhaustive coverage extends from commodity, bulk, specialty, and petrochemicals to advanced materials, composites, and nanotechnology in particular, with special emphasis on ‘green alternatives, recycling and renewable technology developments, and supply-demand-trade assessment. Our research studies serve as referencing market guidelines for chemical manufacturers, research institutions, channel partners, and government bodies for developing – ‘The Way Forward’.
Author by:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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