Medical Plastics Market Anticipated to Increase at a Cagr of 5%
Global medical plastic sales reached US$ 22 billion in 2022 and are expected to grow at a 5% CAGR through 2026. As a result, the medical plastics market is expected to reach $27 billion by 2026. Between 2022 and 2026, the engineering plastics segment is expected to grow at a faster CAGR of 6%.
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Key Companies Profiled
Röchling SE & Co. KG
Nolato AB
Saint-Gobain Performance Plastics
SABIC
Orthoplastics Ltd.
Eastman Chemical Company
Celanese Corporation
Dow Inc
Tekni-Plex
Solvay S.A.
HMC Polymers Thailand
ARAN BIOMEDICAL TEORANTA
Trelleborg AB
Avantor Inc
Trinseo
Evonik Industries AG
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Competitive Landscape
Due to robust distribution networks and a diverse product offering by large and small-scale businesses in rising and developing economies, the global market for medical plastics is fragmented.
The main growth tactics used by market players to increase their regional presence and satisfy the rising demand for medical plastics in emerging nations include new product launches, agreements and collaborations, expansions and investments, and mergers and acquisitions.
Established players are developing new medical supplies through research and development.
Evonik Industries AG recently announced the release of VESTAKEEP iC4800 3DF, an osteoconductive polyether ether ketone (PEEK) filament that would enhance the fusion between bones and implants.
In January 2021, PTA Plastics invested more than US$ 2 Million in buildings and capital equipment. Products made of medical polymers will be employed using these machines and finishing equipment for injection moulding.
Key Segments Covered in Medical Plastics Industry Research
By Type :
Standard Plastics
Engineering Plastics
High Performance Plastics (HPP)
Silicone
Others
By Application :
Medical Device Packaging
Medical Components
Orthopedic Implant Packaging
Orthopedic Soft Goods
Wound Care
Cleanroom Supplies
BioPharm Devices
Mobility Aids
Sterilization & Infection Prevention
Tooth Implants
Denture Base Materials
Others
By Region :
North America
Latin America
Europe
East Asia
South Asia & Oceania
MEA
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