Medical Plastics Market Size To Reach $87.58 Billion By 2030

Medical Plastic Market Growth & Trends

The global medical plastics market size is expected to reach USD 87.58 billion by 2030, registering a CAGR of 7.4% from 2024 to 2030, according to a new report by Grand View Research, Inc. The demand for medical device packaging is likely due to the increased need for in-house and advanced medical devices. Plastics including polyethylene, polypropylene, and polycarbonate are increasingly being utilized in the medical device manufacturing The growth of the home healthcare sector on account of the low costs involved as compared to hospital care and intensive care contributes to a rise in the demand for medical devices and multiple hospital associated tests as well.

The growth of the home healthcare sector on account of the low costs involved as compared to hospital care and intensive care has resulted in a rise in the demand for medical devices. The increasing demand for medical devices can also be attributed to the various types of medical tests conducted by hospitals for diagnostic purposes.

Healthcare spending in the country is likely to accelerate in the near future owing to the growing awareness about healthcare. The rise in demand is driven by the aging population (65 years of age or above), growing prevalence of chronic diseases, infrastructure enhancements and technological advancements in medical plastics market.

The strengthening of the Western European economies is expected to result in an increased provision of healthcare expenditure in the annual budgetary proposals. Moreover, Northern European economies such as Germany, the UK, and Sweden are projected to exhibit an increase in healthcare expenditure, thereby leading to a growth in the production of medical devices. However, the growth is expected to be supported by political unrest in Europe’s transition economies such as Russia and Ukraine.

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Medical Plastic Market Report Highlights

• Based on product, the Polyphenylsulfone (PPSU) resin dominated product segmentation for 2023 in terms of revenue share above 51.0%, due to the heat and chemical resistance of PPSU. These plastics possess high strength and durability, making essential surgical tools.

• Asia Pacific possessed a high market share in 2023, due to increasing healthcare expenditure. However, Governments in China, India and Japan are investing heavily, to prevent rising chronic diseases and upgrading healthcare infrastructures. Per capita healthcare spending is elevating, setting the stage for healthcare revolution in the region.

• Regulations are the key factor influencing the medical device industry, thereby influencing the medical plastics market in Europe and North America. Rising government concerns regarding the offering of high-quality, safe, and effective medical devices are expected to have a negative impact on the market growth over the forecast period.

Medical Plastic Market Segmentation

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

Medical Plastics Product Outlook (Volume, Kilotons & Revenue, USD Million, 2018 - 2030)

• Polyethylene (PE)

• Polypropylene (PP)

• Polycarbonate (PC)

• Liquid Crystal Polymer (LCP)

• Polyphenylsulfone (PPSU)

• Polyethersulfone (PES)

• Polyethylenimine (PEI)

• Polymethyl Methacrylate (PMMA)

• Others

Medical Plastics Process Technology Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Extrusion

• Injection Molding

• Blow Molding

• Other

Medical Plastics Application Outlook (Volume, Kilotons & Revenue, USD Million, 2018 - 2030)

• Medical Device Packaging

• Medical Components

• Orthopedic Implant Packaging

• Orthopedic Soft Goods

• Wound Care

• Cleanroom Supplies

• BioPharm Devices

• Mobility Aids

• Sterilization and Infection Prevention

• Tooth Implants

• Denture Base Material

• Other Implants

• Others

Medical Plastics Region Outlook (Volume, Kilotons & Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • U.K.

  • France

  • Italy

  • Netherland

• Asia Pacific

  • China

  • India

  • Japan

• Central & South America

  • Brazil

  • Argentina

• Middle East & Africa

  • Saudi Arabia

  • UAE

List of Key Players in the Medical Plastics Market

• Röchling SE & Co. KG

• Nolato AB

• Saint-Gobain S.A.

• SABIC

• Orthoplastics Ltd

• Eastman Chemical Company

• Celanese Corporation

• Dow, Inc.

• Tekni-Plex, Inc.

• Solvay S.A.

• HMC Polymers Company Limited

• ARAN BIOMEDICAL TEORANTA

• Trelleborg Group

• Avantor, Inc.

• Trinseo

• Evonik Industries AG