What is Medical Plastics Market?
Plastics are general in medical, from tiny extruded catheters to tamper-evident medicine caps to huge MRIs that are built using thermoformed parts. Plastics have made health care simpler and made new techniques possible. Use of medical plastics have resulted in reduced medical costs, decline in infectious disease and pain management. Medical plastics are gradually being used in development of new and improved artificial limbs, and plastic disposable delivery devices for reducing the risk of infections to patients.
The market study is being classified by Type (Standard Plastics [Polyvinyl Chloride (PVC), Polyolefins (PO), Polystyrene (PS), Poly (Methyl Methacrylate) (PMMA)], Engineering Plastics [Polyamide (PA), Polycarbonate (PC), Acrylobutadiene Styrene (ABS)], Silicone, High Performance Plastics, Thermoplastics Elastomer (TPE) and Thermoplastic Polyurethane (TPU)), by Application (Disposables, Medical Bags, Catheters, Syringes, Implants, Surgical Instruments, Diagnostic Instruments and Dental Tools) and major geographies with country level break-up.
Lubrizol (United States), Ensinger (Germany), Celanese (United States), Trinseo (United States), BASF (Germany), Arkema (France), DSM (Netherlands), Evonik (Germany), Loyndellbasell (Netherlands) and Victrex (United Kingdom) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Modenplast (Italy), Nolato (Sweden) and Polyone (United States).
To compete in this market, processors need to have commitment to quality and consistency. The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail competitive advantage through combined synergies. Research Analyst at AMA predicts that German and United States Players will contribute to the maximum growth of Global Medical Plastics market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Medical Plastics market by Type, Application and Region.
On the basis of geography, the market of Medical Plastics has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Rising Usage of Home Healthcare
- Growing Demand for Disposable and Sterilized Devices
- Increase in Demand for Advanced Medical Technology
Market Trend
- Increase in Demand for Plastics over Metals
- Growing Demand for Quality and Safety of Medical Devices at Reasonable Cost
Restraints
- Government Control over Healthcare Costs
Opportunities
- Medical Devices and Instruments are in a Constant State of Evolution
- Growing Healthcare Investments in Emerging Economies
Challenges
- Lack of Skilled Healthcare Professionals
Market Leaders and some development strategies
March 18, 2019: Lubrizol Completes Acquisition of Laboratoire Phenobio, which will adds innovative botanical extracts and subcritical water extraction technology to portfolio. This addition expands Lubrizol's existing capabilities to provide clean natural ingredients across the cosmetic, nutraceutical and life sciences industries. and April 19, 2019: LyondellBasell and SUEZ Collaborate with Samsonite to Create Recycled Plastic Suitcase Collection. LyondellBasell and SUEZ, through its recycling joint venture, Quality Circular Polymers (“QCP”), converted post-consumer plastic such as packaging into a high quality polypropylene.
April 3, 2019, The Lubrizol Corporation announces the launch of its newest multifunctional, 2-in-1 rheology modifier, Carbopol Style 2.0 polymer. This novel technology provides rheology modification and also offers light to medium styling hold, reducing or eliminating the need for Polyvinylpyrrolidone (PVP) or fixatives.
Key Target Audience
Manufacturers of Medical Plastics, Manufacturer of Medical Devices, Wholesalers, Distributors and Retailers of Medical Plastics, Healthcare Industry, Research Firms and Governmental Bodies