According to a market report by Lucintel, the future of the global medical plastics market looks promising with opportunities in the medical device market. The global medical plastics market is expected to reach an estimated $36.0billion by 2030 from $28.0 billion in 2023, at a CAGR of 3.0% from 2024 to 2030. The major drivers for this market are increasing demand for development of patient-specific implants and 3D printed devices, increasing adoption of medical polymers due to low prices and versatility, growing healthcare investments in emerging economies, and increasing use of home healthcare and self-medication.
A more than 150 page report to understand trends, opportunity and forecast in medical plastics market to 2030 by technology (polyvinyl chloride, polyethylene, polypropylene, engineering plastics, polystyrene, polyester, polycarbonate, polyurethane, and acrylics), application (disposables, drug delivery system, diagnostic instruments, surgical instruments, catheters, medical bags, and implants), and region (North America, Europe, Asia Pacific, and the Rest of the World).
Lucintel forecasts that polyvinyl chloride will remain the largest segment over the forecast period as it is easily sterilized and re-used with steam, ethylene oxide, and radiation.
Within this market, disposables will remain the largest application over the forecast period due to developing prominence of the medical devices such as hypodermic needles and cleaning gloves.
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North America will remain the largest region over the forecast period and APAC is expected to witness the highest growth over the forecast period due to robust growth of the medical industry coupled with rising healthcare expenditure.
Solvay, BASF SE, Covestro AG, Evonik Industries AG, Dow Chemical Corporation are the major suppliers in the medical plastics market.
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Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: [email protected]
Tel. +1-972-636-5056
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