PUNE, India, Jan. 14, 2020 /PRNewswire/ -- The Medical Plastics Market size is projected to grow from US$ 22.8 Billion in 2019 to US$ 31.7 Billion by 2024, at a CAGR of 6.8% during the forecast period. The increasing demand for healthcare solutions owing to an increase in disposable income, changing lifestyles, and growing population in emerging economies are the major drivers for the medical plastics market.
Browse 100 Market Data Tables and 39 Figures spread through 167 Pages and in-depth TOC on "Medical Plastics Market Research Report" https://www.reportsnreports.com/reports/437145-medical-plastics-market-by-type-pvc-pp-engg-plastics-pe-ps-silicones-others-by-application-implants-disposables-drug-delivery-devices-syringes-diagnostic-instruments-surgical-instruments-catheters-others-and-by-region-forecast-to-2020.html
Top Companies profiled in the Medical Plastics Market:
- SABIC (Saudi Arabia)
- BASF (Germany)
- Celanese (US)
- Evonik (Germany)
- Solvay (Belgium)
- Covestro (Germany)
"The medical instruments & tools segment is estimated to be the largest application of medical plastics during the forecast period."
The medical instruments & tools segment accounts for the largest market share, in terms of value, in the medical plastics market. Suitability and biocompatibility of medical plastics for the manufacturing of various medical devices, such as surgical and procedural instruments, diagnostic instruments, and dental tools, are driving the demand. Plastic materials are being increasingly used in the manufacturing of these equipment owing to their properties, such as toughness, rigidity, easy workability, and availability.
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"The engineering plastics segment is expected to be the fastest-growing type of medical plastics during the forecast period."
The engineering plastics segment is projected to lead the market during the forecast period. These plastics are used in diagnostic instruments, drug delivery systems, orthopedic devices, and dental tools. Engineering plastics provide many advantages over standard plastics, such as good malleability, faster production time, low weight, resistance to high impact, flame, shock, and chemical, and better friction reduction.
"APAC is expected to be the fastest-growing medical plastics market during the forecast period."
APAC is projected to be the largest, as well as the fastest-growing medical plastics market during the forecast period owing to the continuously increasing population, rising disposable income, rise in lifestyle diseases, and the increasing aging population. In addition, rapid alterations in the competitive landscape of the healthcare industry and advent of new and innovative medical technologies, such as 3D printing, polymer blended materials, bio-based materials, and others in the region are propelling the demand for medical plastics.
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Breakdown of primary participants' profile:
- By Company Type: Tier I–25%, Tier II–50%, and Tier III–25%
- By Designation: C Level–20%, Director Level –30%, and Others–50%
- By Region: North America–20%, Europe–30%, APAC–25%, South America – 25%, Middle East & Africa – 10%
Another research titled "Antimicrobial Plastics Market by Type (Commodity Plastics, Engineering Plastics, High Performance Plastics), Application (Packaging, Automotive, Consumer Goods, Medical and Healthcare, and Building & Construction), and Region - Global Forecast to 2023, at a Compound Annual Growth Rate (CAGR) of 7.8% during the forecast period. Companies such as Major players in the Antimicrobial Plastics Market are DowDuPont (US), BASF SE (Germany), Bayer Material Science (Germany), Clariant AG (Switzerland), Lonza Group (Switzerland), PolyOne Corporation (US), Microban International Ltd. (US), Parx Plastics N.V. (Netherlands), King Plastic Corporation (US), BioCote (UK), and Sanitized AG (Switzerland) have been profiled in this 122 pages research report available at https://www.reportsnreports.com/purchase.aspx?name=371217
Explore more reports on Chemical Market at https://www.reportsnreports.com/market-research/chemicals/
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