Medical Plastics Market to be Worth $88.40 Billion by 2030: Grand View Research, Inc.

Read 173-page full market research report for more Insights, "Medical Plastics Market Size, Share & Trends Analysis Report By Product (Polyethylene, Polypropylene, Polycarbonate, Liquid Crystal Polymer, Polyphenylsulfone, Polyethersulfone), By Application, And Segment Forecasts, 2022 - 2030", published by Grand View Research. Read 173-page full market research report for more Insights, " Medical Plastics Market Size, Share & Trends Analysis Report By Product (Polyethylene, Polypropylene,...

Read 173-page full market research report for more Insights, "Medical Plastics Market Size, Share & Trends Analysis Report By Product (Polyethylene, Polypropylene, Polycarbonate, Liquid Crystal Polymer, Polyphenylsulfone, Polyethersulfone), By Application, And Segment Forecasts, 2022 - 2030", published by Grand View Research.

Medical Plastics Market Growth & Trends

Plastics exhibit good chemical resistance, have good sterilization capability and are biocompatible. Although, on the contrary, a very selective number of polymers qualify for application in this segment as a medical-grade plastic. Multiple regulatory frameworks are now in place globally that decide which grades of plastics qualify for medical applications following research on the effect of such plastics after they come in contact with body fluids, internal and external tissue, etc.

New product development, capacity development, and acquisitions are the three major strategies adopted by the companies to capture the market share. From 2019 to 2022, new product development was observed as the prime growth strategy adopted by the major medical plastic manufacturers such as SABIC, Solvay S.A., Celanese Corporation, Eastman Chemical Company, and Dow Inc. In addition, companies such as Solvay S.A., Rochling Group, Dow Inc, HMC Polymers, and Trelleborg also resorted to capacity expansion in order to increase their market share and revenue.

In November 2020, SABIC introduced new polycarbonate-based CRX copolymer resins at BIOMEDigital 2020. This new product innovation is intended to reduce the premature failure from environmental stress cracking (ESC) in medical equipment housings and devices.

The market also saw numerous acquisitions by major players. For example, Nolato AB acquired GW Plastics Inc in September 2020, Saint-Gobain Life Sciences acquired MS Techniques and Transluminal in September 2020, Tekni-Plex Healthcare acquired precision extrusion manufacturer Johnson Plastic Group in October 2021, Proxy Biomedical Ltd and Aran Biomedical were acquired by Integer holdings in April 2022.

Medical Plastics Market Segmentation

Grand View Research has segmented the medical plastics market based on product, application, and region:

Medical Plastics Market - Product Outlook (Volume, Kilotons & Revenue, USD Million, 2019 - 2030)

Medical Plastics Market - Application Outlook (Volume, Kilotons & Revenue, USD Million, 2019 - 2030)

Medical Plastics Market - Regional Outlook (Volume, Kilotons & Revenue, USD Million, 2019 - 2030)

List of Key Players of Medical Plastics Market

Check out more related studies published by Grand View Research:

Browse through Grand View Research's  Plastics, Polymers & Resins Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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