Medical Plastics Market Size, Latest Trends, Research Insights, Key Profile and Applications by 2030 – Queen Anne and Mangolia News

The Market Statsville Group (MSGpublishes the new report on the Medical Plastics Market by Application (Medical Components, Orthopedic Soft Goods, Wound Care, Orthopedic Implant Packaging, Medical Device Packaging, Cleanroom Supplies, BioPharmaDevices, Mobility Aids, Sterilization and Infection Prevention, Tooth Implants, Denture Base Material, Other Implants, and Others), by Type (Disposables, Drug Delivery Devices, Diagnostic Instruments, Catheters, Surgical Instruments, and Others), by Region – Global Share and Forecast to 2027The global medical plastics market is expected to grow from USD 29.2 billion in 2020 to USD 45.0 billion by 2027, at a CAGR of 7.5during the forecast periodMedical plastics dominate the medical device manufacturing industry due to their low cost, superior flexibility, easy replacement, and ability to prevent infection compared to metalsThe growing demand for plastic materials in medical innovations such as plastic surgery, body implants, and orthopedic surgery is expected to open new avenues for industry growthThe orthopedic implants packaging market exhibited a high affinity towards using highstrength plastics for packaging sharp and delicate implants for bone support or hip and knee replacementThis is expected to open new avenues for plastics such as PEEK, polycarbonate, and other engineering plastics, with the application segment expected to register high growth over the forecast period.

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Global Medical Plastics Market Segmentation

The medical plastics market has been segmented into application, type, and region.

  • By Application (Medical Components, Orthopedic Implant Packaging, Medical Device Packaging, Orthopedic Soft Goods, Wound Care, Cleanroom Supplies, BioPharmaDevices, Mobility Aids, Sterilization and Infection Prevention, Tooth Implants, Denture Base Material, Other Implants, and Others)
  • By Type (Disposables, Drug Delivery Devices, Diagnostic Instruments, Catheters, Surgical Instruments, and Others)
  • By Region (US, Canada, Mexico, UK, Germany, France, Italy, Spain, China, Japan, India, South Korea, Southeast Asia, Australia, Saudi Arabia, UAE, South Africa, Qatar, Nigeria, Israel, Brazil, Argentina, Peru)

Disposables, by type, is estimated to hold the largest market share during the forecast period

Based on type, the global medical plastics market is segmented into disposables, drug delivery devices, diagnostic instruments, catheters, surgical instruments, and othersThe disposable segment was the largest market contributor in the global market of medical plasticThe rising number of surgical operations, rising frequency of Hospital Acquired Infections (HAIs), rising prevalence of chronic illnesses resulting in longer hospital stays, and the effect of COVID-19 outbreaks worldwide contribute to the market’s growth.

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The increasing incidence of chronic illnesses such as diabetes and cardiovascular disease boosts the medical disposables industryAccording to the International Diabetes Federation, global diabetes prevalence is anticipated to rise from 366.0 million in 2011 to 552.0 million by 2030Diabetic foot ulcers are caused by longterm diabetes, which lengthens hospital stays, favorably affecting market growth throughout the predicted periodFurthermore, the growing elderly population worldwide is expected to boost the medical disposables market.

North America accounts for the largest market share in the medical plastics market 2020

Based on the regions, the global medical plastics market has been segmented across North America, AsiaPacific, Europe, South America, and the Middle East & AfricaIn 2020, North America accounted for the highest market share of 33.9in the global medical plastics market and was anticipated to maintain its dominance throughout the forecast periodThe rapid growth of the pharmaceutical industries in Mexico and Canada is expected to impact the growth of the medical plastics industry in the region, mainly because of the resultant demand for the product in pharmaceutical packagingFor example, the elimination of stringent regulations by the Government of Mexico, which had earlier restricted the launch of new manufacturing units, has resulted in developing new pharmaceutical manufacturing facilities of largescale companies such as Takeda and Astellas in MexicoThis governmental strategy has played an important role in driving the domestic pharmaceutical industry’s growth, likely to fuel the demand for medical plastic packaging products over the coming years.

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Rising health costs have been one of the biggest challenges the U.Shealthcare industry faces in recent times. Several urgent care clinics have been established to provide costeffective healthcare services to the country’s population over the past few years.

This research report includes a study on the development and marketing strategies, along with a study on the product portfolios and winning strategies of the leading companies operating in the medical plastics marketIt also consists of leading companies such as SABIC, SaintGobain Performance Plastics, Celanese Corporation, Eastman Chemical Company, Rochling Group, Nolato AB, GW Plastics, Inc., The Dow Chemical Company, Orthoplastics Ltd., and TekniPlex.

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About Market Statsville Group

Market Statsville Group (MSGis a business research and consulting platform of Statsville Consulting Private Limited, based in Oklahoma, USAMSG is the leading market research and strategy builder with the depth and breadth of solutions that perfectly suit your every needMSG provides solutions in a wide range of industry verticals in market sizing, analysis, and intelligent business insightsMSG has experienced research analysts who are proficient at digging deep and providing various customizable data that help you make decisions with clarity, confidence, and impactFurthermore, Market Statsville Group already benefited more than 1,000 companies each year for their revenue planningIt helped them take their disruptions/innovations early to the market by providing them research ahead of the curve.

MSG has an entire repository of research reports on more than 1,000 niche industries, 3,000 highgrowth potentials markets, 5,000 data sets, and more than 12,000 company profiles.

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