Medical Plastics Market Have Reached Us$ 22 Billion in 2022

Global medical plastic sales have reached US$ 22 billion in 2022 and are anticipated to increase at a CAGR of 5% through 2026. As such, the medical plastics market is expected to reach US$ 27 billion by the end of 2026.

The engineering plastics segment is expected to expand at a higher CAGR of 6% between 2022 and 2026.

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What is Benefitting Medical Plastic Component Manufacturers?

“Medical Components Handsomely Leads Due to High Use in Surgical & Procedural Procedures”

Globally, the medical components segment is anticipated to lead the application segment and hold the highest market share. Demand is expected to be driven by the expanding range of products that can be made using PP, including syringes, pans, containers, trays, implant trials, and medical cover sheets.

Polypropylene is also anticipated to expand in popularity as a material for medical component applications due to its low weight, good microbiological and chemical resistance, and low cost, and is called polypropylene medical equipment.

In the production of medical disposables, this substance has many uses. It is popular for making syringes because it can be easily shaped to precise proportions.

Medical plastics are employed more and more as a result of their adaptability. Medical components are utilised in both surgical and procedural procedures as a single-use item. The use of these medical things in surgical applications and routine examinations has increased.

The primary drivers of this market sector include rising rates of chronic diseases, a shift in lifestyle, and an ageing population.

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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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