Medical Plastic Compounds Market Report 2025, with Profiles of BASF, DuPont de Nemours, Dow, Celanese, Covestro, Eastman Chemical, SABIC, Evonik, Nolato, Solvay, Rochling and Orthoplastics


Dublin, Jan. 16, 2025 (GLOBE NEWSWIRE) -- The "Medical Plastic Compounds Market: Analysis By Product, By Application, By Region Size and Trends - Forecast up to 2029" report has been added to ResearchAndMarkets.com's offering.

The global medical plastic compounds market was valued at US$63.56 billion in 2023. The market value is expected to reach US$83.44 billion by 2029.

In the forthcoming years, the medical plastic compounds market is expected to continue growing due to several converging trends. One key factor is the increasing global aging population, as older adults typically require more healthcare products and medical devices, driving demand for durable, cost-effective, and biocompatible plastic materials in medical applications. Furthermore, advancements in material formulations and ongoing innovation are also contributing to the growth of the medical plastic compounds market. New materials and manufacturing techniques are improving the performance, cost-efficiency, and sustainability of medical plastic products.

Additionally, rising healthcare expenditure and increased government initiatives to strengthen healthcare infrastructure are expected to support the market's expansion. With continuous technological advancements and increasing global healthcare needs, the market for medical plastic compounds is poised for significant growth in the coming years. The market is expected to grow at a CAGR of approx. 5% during the forecasted period of 2024-2029.

Market Segmentation Analysis:

By Product: Based on product, the market can be split into nine segments: Polyvinylchloride, Polyethylene, Polypropylene, Polystyrene, Polycarbonate, Polyester, Polyurethane, Acrylics, and Others. The polyvinylchloride segment held a significant share of the global medical plastic compounds market. The growth of the PVC segment has been driven by the increasing demand for disposable medical products as healthcare systems prioritize hygiene, safety, and cost-effectiveness. The rising focus on cost-effective healthcare solutions, alongside PVC's ability to be easily processed and its versatility in different applications, further boosts its demand.

In the future, the market for PVC is expected to expand due to growing healthcare needs, the aging population, and advancements in medical device technologies. Moreover, there is a shift towards more sustainable, non-toxic PVC formulations, which is likely to likely enhance its appeal in the market, aligning with the global trend toward environmentally friendly solutions in healthcare.

By Application: The report provides the split of global medical plastic compounds market in terms of application: Disposables, Drug Delivery System, Implants, Surgical Instruments, Medical Bags, Catheters, and Others. The disposables segment holds a significant share of the global medical plastic compounds market. The expansion of this segment has been driven by increasing concerns about infection control, especially after the COVID-19 pandemic, where disposable products were crucial in reducing cross-contamination.

Additionally, disposables are cost-effective, eliminating the need for sterilization and reducing the risk of healthcare-associated infections. Moving forward, factors such as rising healthcare standards, increasing surgical and diagnostic procedures, and growing global health awareness, particularly in emerging markets, are expected to continue propelling growth in this segment.

By Region: In the report, the global medical plastic compounds market is divided into four regions: North America (The US, Canada, and Mexico), Europe (Germany, UK, France, Spain, Italy, and rest of Europe), Asia Pacific (China, Japan, South Korea, India, and rest of Asia Pacific), and Rest of the World. In 2023, the North America region led the medical plastic compounds market, propelled by several key factors, including increasing demand for medical devices, advancements in healthcare technologies, and the need for cost-effective solutions in the medical industry. The region benefits from a robust healthcare infrastructure, home to numerous leading medical device manufacturers and research institutions.

During 2024-2029, the US is forecasted to maintain its lead within North America, with its well-established healthcare infrastructure, which includes hospitals, medical device manufacturers, and diagnostic centers, all requiring high-performance medical plastics. Strict regulatory frameworks such as the FDA's guidelines on medical devices and materials drive demand for safe and durable plastic compounds. Moreover, advancements in plastic formulations have enabled the development of specialized compounds for critical applications like drug delivery systems, implants, and surgical instruments.

Market Dynamics:

Growth Drivers: The global medical plastic compounds market growth is predicted to be supported by numerous growth drivers such as aging population, rise in healthcare expenditure, increasing prevalence of chronic diseases, Advances in medical technology, and many other factors. The shift toward disposable medical products has significantly contributed to the growth of the medical plastic compounds market. This trend is primarily driven by heightened concerns regarding hygiene, safety, and cost-efficiency in healthcare settings.

As the demand for cost-effective and hygienic medical solutions grows globally, especially in response to the ongoing concerns around healthcare-associated infections, the need for disposable products continues to rise, driving the increased demand for medical plastic compounds. This trend also supports the market's expansion as manufacturers look to develop innovative and sustainable materials that meet the evolving needs of the healthcare industry.

Challenges: However, the market growth would be negatively impacted by various challenges such as environmental impact of plastic waste, concerns over plasticizers and leachable, etc.

Trends: The market is projected to grow at a fast pace during the forecast period, due to various latest trends such as expansion of the medical device industry, economic advantage of medical plastic compounds, surging trend of medical tourism, large investments in research and development, etc. Medical plastic compounds that are resistant to sterilization processes like autoclaving, radiation, and chemical sterilants are essential for maintaining the integrity and performance of devices over time. These advanced plastic materials are particularly important in environments where hygiene and sterility are paramount, such as hospitals, clinics, and surgical centers.

As awareness of healthcare-associated infections (HAIs) increases and the demand for sterile medical products rises, manufacturers are increasingly turning to antimicrobial and sterilization-resistant medical plastic compounds to meet these needs. This trend not only helps reduce the risk of infections but also extends the lifespan of medical devices, making them a highly attractive choice for healthcare providers. The growing demand for such advanced materials is thus propelling the market growth of these compounds, as they offer enhanced safety, durability, and long-term performance in medical applications.

Competitive Landscape:

The global medical plastic compounds market is highly competitive, featuring a blend of large multinational players and regional companies that focus on producing high-quality medical-grade plastic materials that meet stringent safety and regulatory standards.

The key players in the global medical plastic compounds market are:

  • BASF
  • Compagnie de Saint-Gobain
  • DuPont de Nemours
  • Dow
  • Celanese
  • Covestro
  • Eastman Chemical Company
  • SABIC (Saudi Basic Industries Corporation)
  • Evonik Industries
  • Nolato
  • Solvay
  • Rochling Group
  • Orthoplastics

Key Topics Covered:

1. Executive Summary

2. Introduction

3. Global Market Analysis
3.1 Global Medical Plastic Compounds Market Analysis
3.2 Global Medical Plastic Compounds Market Product Analysis
3.3 Global Medical Plastic Compounds Market Application Analysis

4. Regional Market Analysis
4.1 North America Medical Plastic Compounds Market
4.2 Europe Medical Plastic Compounds Market
4.3 Asia Pacific Medical Plastic Compounds Market
4.4 Rest of the World Medical Plastic Compounds Market

5. Impact of COVID-19
5.1 Impact of COVID-19 on Medical Plastic Compounds Market
5.2 Post COVID-19 Impact on Medical Plastic Compounds Market

6. Market Dynamics
6.1 Growth Drivers
6.1.1 Aging Population
6.1.2 Rise in Healthcare Expenditure
6.1.3 Increasing Prevalence of Chronic Diseases
6.1.4 Rising Shift Toward Disposable Medical Products
6.1.5 Government Initiatives and Regulations
6.1.6 Advances in Medical Technology
6.2 Challenges
6.2.1 Environmental Impact of Plastic Waste
6.2.2 Concerns Over Plasticizers and Leachable
6.3 Market Trends
6.3.1 Expansion of the Medical Device Industry
6.3.2 Surging Trend of Medical Tourism
6.3.3 Economic Advantage of Medical Plastic Compounds
6.3.4 Antimicrobial and Sterilization-Resistant Medical Plastic Compounds
6.3.5 Large Investments in Research and Development

7. Competitive Landscape
7.1 Global Medical Plastic Compounds Market: Recent Developments

8. Company Profiles

  • BASF
  • Compagnie de Saint-Gobain
  • DuPont de Nemours
  • Dow Inc. (The Dow Chemical Company)
  • Celanese Corporation
  • Covestro
  • Eastman Chemical Company
  • SABIC (Saudi Basic Industries Corporation)
  • Evonik Industries
  • Nolato
  • Solvay
  • Rochling Group
  • Orthoplastics

For more information about this report visit https://www.researchandmarkets.com/r/uf5suu

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