Medical plastic is a type of material which is used for the production of medical devices and for primary packaging of pharmaceuticals.
Global Medical Plastics Market Analysis, 2020 research report depicts a deep-dive market analysis of statistics of Global Medical Plastics market which consists of regional and country-wise market size, market forecast, CAGR market segmentation, market shares of diverse regions and countries, market share of various end users, applications, product type, technologies, competitive benchmarking, etc.
According to MarkNtel Advisors’ research report titled “Global Medical Plastics Market Analysis, 2020”, the Global Medical Plastics market is anticipated to grow at a CAGR of around 7.1% during 2020-25F. Based on material, engineering plastics segment captured the significant market share in the Global Medical Plastic market owing to the growing usage of these plastics in robotic assistance, AI-driven procedures, 3D printing of medical models, implants and prosthetics.
Moreover, the demand for standard plastic is also rising at a significant pace due to the outbreak of COVID-19. This has propelled the demand for standard plastic such as polypropylene (PP) and polyolefin (PE) from medical device manufacturers for the production of critical care systems such as ventilators.
Medical Disposable Segment Registered the Fastest Growth
Based on application, medical disposable segment acquired the majority market share in the global medical plastic market in 2019. The demand for medical plastics is increasing in the medical disposable products such as medical bags, syringes, catheters, masks, etc. due to features such as ease of disposal and advanced sterilization properties.
Moreover, the COVID-19 pandemic has bolstered the use of these medical disposable products such as masks and gloves in procedural applications. The requirement of PPEs and other medical disposables such as syringes, trays, etc., has also amplified at an exponential rate. However, the demand for these products also increased among the general public. Thus, it is anticipated to strongly contribute toward the growth of the Medical Plastics market globally in the near future as stated in the MarkNtel Advisors’ research report “Global Medical Plastics Market Analysis, 2020”.
According to MarkNtel Advisors, the key players with a considerable market share in the Global Medical Plastics market include SABIC, BASF, Eastman, Covestro, Saint-Gobain, Celanese, Tekni-Plex, Solvay, Arkema, Trinseo, DuPont, Lubrizol, Ensinger, GW Plastics, DSM etc. To gain a competitive edge in the market, these firms are launching new products in the market with the help of merger & acquisition, partnership, collaboration, etc.
Moreover, these companies are expanding their product portfolio in the Medical Plastics market so as to capture the majority market share.
Key Questions Answered in the Market Research Report
Market Outlook, Segmentation and Statistics
Frequently Asked Questions
Q. What is the historical year, base year and forecast year considered in the research report on Global Medical Plastics Market?
A. The historical data has been provided since 2015, while the base year is 2019 and the data is forecast up-to 2025.
Q. What are the units or denomination for measuring market value and volume in the report?
A. The market size/industry size or the market value is measured in terms of USD Million.
Q. What would be the growth rate or CAGR of Global Medical Plastics Market during 2020-25?
A. The growth rate of Global Medical Plastics Market during 2020-25 is forecast to be grow at a CAGR of 7.1%.
Q. Who are the key competitors or players operating in Global Medical Plastics Market?
A. SABIC, BASF, Eastman, Covestro, Saint-Gobain, Celanese, Tekni-Plex, Solvay, Arkema, Trinseo, DuPont, Lubrizol, Ensinger, GW Plastics, DSM etc., are few of the leading players in the Global Medical Plastics Market.
Q. Which application segment would emerge as an opportunity area for players in Global Medical Plastics Market?
A. Medical disposable segment is expected to attain the highest CAGR during the forecast period and maintain its significant market share.
Q. Which region would emerge as an opportunity area for players in Global Medical Plastics Market?
A. Asia-Pacific grabbed a significant market share continue to grow at a highest CAGR, presenting immense opportunities for manufacturers and suppliers of Global Medical Plastics Market.