Medical Plastics Market Scenario
Increase in demand for advanced medical technology and devices coupled with growing healthcare investments in emerging economies are some of the major factors propelling the medical plastics market globally. Furthermore, shift toward minimally invasive medical procedures is also one of the factor propelling the growth of medical plastics market. However, time-consuming regulatory approval process is one of the major factor expected to hamper the global growth of the medical plastics market.
Medical Plastics Market Segmentation
The medical plastics market is segmented by Type, Application and Geography. The Type comprises of Standard Plastics (Polyvinyl Chloride (PVC), Polyolefin (PE), Polypropylene (PP), Polystyrene (PS) and Poly (Methyl Methacrylate) (PMMA)), Engineering Plastics (Polyamide (PA), Acrylonitrile Butadiene Styrene (ABS), Polycarbonate (PC), Polyacetal and Others), High Performance Plastic (HPP) (Polyetheretherketone (PEEK), Polytetrafluoroethylene (PTFE), Polyphenylsulfone (PPSU), Other Hpps), Silicone and Others. Furthermore, Various Application of medical plastic are Medical Disposables, Prosthetics, Medical Instruments & Tools, Drug Delivery and Others. Geographically, the Medical plastics Market is studied across the countries of key regions such as, North America, Europe, Asia Pacific and RoW.
Medical Plastics Market by Geography
Geographically, the medical plastics market is studied across the countries of key regions such as, North America, Europe, Asia Pacific and RoW. Among all the regions, the Asia-Pacific is expected to account for the largest market share. This growth is attributed mainly to the industrial and urbanization in the region. In addition, Asia-Pacific has immense growth potential driven by the growing demand for a better healthcare system. Asia-Pacific comprises of some vast and rapidly growing economies, such as China, India, Indonesia, Malaysia, Vietnam, and Thailand.
Medical Plastics Market Key Players
Some of the major players operating in the global medical plastics market includes SABIC, BASF, Celanese Corporation, Evonik, Solvay, Arkema, Covestro, Ensinger, Lubrizol, Trinseo, Biomerics, DSM, Eastman Chemical Company, E. I. Du Pont De Nemours and Company, Invibio, Lanxess, Londyllbasell, Mitsubishi Chemical Advanced Materials, Polyone, Röchling, RTP Company, Saint Gobain Performance Plastics, Tekni Plex, Teknor Apex and Wacker Chemie. New product launch, agreement & collaboration, investment & expansion, and merger & acquisition were the major growth strategies adopted by the market players to enhance their regional presence.
Medical Plastics Market Report Key Benefits