Medical-grade Thermoplastics are driving the growth of Medical Plastics Market

Medical plastics cover a wide range of plastic materials and products used in various medical applications. They include polymer structures, containers and packaging for medical devices, components used in medical devices and diagnostic equipment, tubing used for fluid transfer, and plastic sheets and films used for dressings and wound care. Medical plastics provide advantages such as lightweight, durability, corrosion resistance and ease of manufacturing.

The global Medical Plastics Market is estimated to be valued at US$ 16,458.83 Mn in 2023 and is expected to exhibit a CAGR of 6.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
One of the key trends in the medical plastics market is the growing use of high-performance thermoplastics in medical devices and equipment. Thermoplastics such as polycarbonate, acrylonitrile butadiene styrene (ABS), polyetheretherketone (PEEK), and polyphenylene sulfide (PPS) are increasingly preferred over thermosets due to their properties like recyclability, machinability, and sterilizability. These thermoplastics have high strength, durability and resist chemical damage at elevated temperatures making them suitable for complex medical components and implants. PEEK in particular is used widely as it closely mimics the mechanical properties of human bones. Its radiolucency also enables its use in computed tomography and magnetic resonance imaging guided procedures.
Segment Analysis
The medical plastics market is segmented into commodity plastics and engineering plastics. Commodity plastics, which include polyvinyl chloride (PVC), polyethylene (PE), and polyolefins, dominate the market. This is due to their properties such as low cost, easy processing, and extensive applications. PVC accounts for the largest share under commodity plastics and finds applications in medical tubing, blood bags, and implants.

Key Takeaways
The global medical plastics market is expected to witness high growth, exhibiting a CAGR of 6.6% over the forecast period, due to increasing demand for minimally invasive medical devices and single-use plastics in healthcare.

Regional analysis
North America dominates the medical plastics market. This is attributed to the high availability of advanced healthcare services and growing awareness regarding innovative medical technologies in the region.

Key players
Key players operating in the medical plastics market are Arkema S.A., BASF SE, Celanese Corporation, Covestro AG, Royal DSM, DowDuPont Inc., Solvay SA, Exxon Mobil Corporation, Trinseo S.A., Trelleborg AB, The Lubrizol Corporation, Saint-Gobain S.A., Tekni-Plex, Inc., and Röchling SE & Co. KG.

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