Transformative Mega Trends Power the Global Medical Plastics Market

Transformative Mega Trends Power the Global Medical Plastics Market

Future Growth Potential Enhanced by Increasing Healthcare Expenditure in Developing Economies

RELEASE DATE
15-Apr-2021
REGION
Global
Deliverable Type
Market Research
Research Code: MFEB-01-00-00-00
SKU: CM01869-GL-MT_25348
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SKU
CM01869-GL-MT_25348

Transformative Mega Trends Power the Global Medical Plastics Market
Published on: 15-Apr-2021 | SKU: CM01869-GL-MT_25348

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The global medical plastics market includes commodity thermoplastics (CTP), engineering thermoplastics (ETP), thermoplastic elastomers (TPE), thermosets, and high performance polymers (HPP). By end-product family type, the market has been divided into devices, equipment and instruments (DEI), prosthetics & implants (P&I), and healthcare packaging (packaging).

Medical plastics offer remarkable benefits over conventional materials, such as metals, glass, and ceramics, and have been revolutionizing the medical industry over the last few years. They are extremely cost-effective, flexible, durable, biocompatible, chemically inert, resistant to wear and tear, lightweight, and recyclable. Plastic materials offer miniaturization, greater ease of processing and sterilization and are being used worldwide for various medical applications including medical devices, surgical instruments, capital equipment, prosthetics, implants, and pharma packaging.

Both by value and volume, CTP including polyolefins (PO), polyvinyl chloride (PVC), polyethylene terephthalate (PET), and polystyrene (PS) had the highest share in the global medical plastics market in 2020 and are expected to retain it during the forecast period. These polymers are extensively preferred due to their low costs, performance benefits, and wider availability. CTP are majorly used in packaging, such as manufacturing medical bottles, containers, prefilled syringes, caps and closures, blister packaging, blood bags, and other pharma and medical packaging products.

Developing countries, especially those in Asia-Pacific, MEASA, and Latin America are undergoing rapid economic development and urbanization and have emerged as prominent low-cost manufacturing hubs for various plastic-based medical products. The mature markets of North America and Europe are focused on acquiring sustainable value-added medical plastics while providing improved performance across diverse domains.

Due to the recent COVID-19 pandemic, the healthcare industry witnessed a significant drop in elective and semi-elective medical procedures including plastic, replacement, exploratory, and cardiovascular surgeries in 2020, as hospitals focused on treating COVID-19 patients.

To retain their position in the supply chain and ensure a smooth product supply of products, medical plastic manufacturers are anticipated to strengthen long-term relationships with resin producers, distributors, compounders, and extruders. In addition, the market is expected to exhibit mergers and acquisitions and vertical integration activities among companies to increase their product offerings and stay ahead of the competition. Companies are also focused on developing value-added and innovative product grades and enhancing the performance of existing ones to drive revenue growth.

Why is it Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top Three Strategic Imperatives on the Medical Plastics Industry

Growth Opportunities Fuel the Growth Pipeline Engine™

Medical Plastics Market Overview and Scope of Analysis

Medical Plastics Market Segmentation

Medical Plastics Market Segmentation (continued)

Medical Plastics Market Segmentation (continued)

Key Growth Metrics for Medical Plastics Market

Growth Drivers for the Medical Plastics Market

Growth Driver Analysis for Medical Plastics Market

Growth Driver Analysis for the Medical Plastics Market (continued)

Growth Driver Analysis for the Medical Plastics Market (continued)

Growth Driver Analysis for the Medical Plastics Market (continued)

Growth Driver Analysis for the Medical Plastics Market (continued)

Growth Restraint Analysis for the Medical Plastics Market (continued)

Growth Driver Analysis for Medical Plastics Market (continued)

Growth Restraints for the Medical Plastics Market

Growth Restraint Analysis for the Medical Plastics Market

Growth Restraint Analysis for the Medical Plastics Market (continued)

Graphical Summary of Drivers and Restraints for Medical Plastics Market

Forecast Assumptions, Medical Plastics Market

Revenue and Volume Shipment Forecast, Medical Plastics Market

Revenue and Volume Shipment Forecast Analysis, Medical Plastics Market

Revenue Forecast by Plastic Types, Medical Plastics Market

Volume Shipment Forecast by Plastic Types, Medical Plastics Market

Revenue and Volume Shipment Forecast Analysis by Plastic Types, Medical Plastics Market

Pricing Trends and Forecast, Medical Plastics Market

Pricing Trends and Forecast by Plastic Types, Medical Plastics Market

Pricing Trends and Forecast Analysis, Medical Plastics Market

Value Chain, Medical Plastics Market

Value Chain Analysis, Medical Plastics Market

Competitive Environment, Medical Plastics Market

Revenue Share, Medical Plastics Market

Revenue Share, Medical Plastics Market by Plastic Types

Revenue Share, Medical Plastics Market by Plastic Types (continued)

Revenue Share Analysis, Medical Plastics Market

Commodity Thermoplastics—Segment Characteristics and Overview

Key Growth Metrics for Commodity Thermoplastics

Revenue and Volume Shipment Forecast, Commodity Thermoplastics

Revenue and Volume Shipment Forecast Analysis, Commodity Thermoplastics

Revenue Forecast by End-Products, Commodity Thermoplastics

Volume Shipment Forecast by End-products, Commodity Thermoplastics

Revenue and Volume Shipment Forecast Analysis by End-products, Commodity Thermoplastics

Revenue and Volume Shipment Forecast Analysis by End-products, Commodity Thermoplastics (continued)

Revenue and Volume Shipment Forecast Analysis by End-products, Commodity Thermoplastics (continued)

Revenue Forecast by Region, Commodity Thermoplastics

Volume Shipment Forecast by Region, Commodity Thermoplastics

Revenue and Volume Shipment Forecast Analysis by Region, Commodity Thermoplastics

Engineering Thermoplastics—Segment Characteristics and Overview

Key Growth Metrics for Engineering Thermoplastics

Revenue and Volume Shipment Forecast, Engineering Thermoplastics

Revenue and Volume Shipment Forecast Analysis, Engineering Thermoplastics

Revenue Forecast by End-products, Engineering Thermoplastics

Volume Shipment Forecast by End-products, Engineering Thermoplastics

Revenue and Volume Shipment Forecast Analysis by End-products, Engineering Thermoplastics

Revenue and Volume Shipment Forecast Analysis by End-products, Engineering Thermoplastics (continued)

Revenue Forecast by Region, Engineering Thermoplastics

Volume Shipment Forecast by Region, Engineering Thermoplastics

Revenue and Volume Shipment Forecast Analysis by Region, Engineering Thermoplastics

Other Plastics—Segment Characteristics and Overview

Key Growth Metrics for Other Plastics

Revenue and Volume Shipment Forecast, Other Plastics

Revenue and Volume Shipment Forecast Analysis, Other Plastics

Revenue Forecast by End-Products, Other Plastics

Volume Shipment Forecast by End-products, Other Plastics

Revenue and Volume Shipment Forecast Analysis by End-products, Other Plastics

Revenue and Volume Shipment Forecast Analysis by End-products, Other Plastics (continued)

Revenue and Volume Shipment Forecast Analysis by End-products, Other Plastics (continued)

Revenue and Volume Shipment Forecast Analysis by End-products, Other Plastics (continued)

Revenue Forecast by Region, Other Plastics

Volume Shipment Forecast by Region, Medical Plastics Market for Other Plastics

Revenue and Volume Shipment Forecast Analysis by Region, Other Plastics

Growth Opportunity 1—Continuous Demand for Cost-effective Medical Plastics in Developing Economies, 2020

Growth Opportunity 1—Continuous Demand for Cost-effective Medical Plastics in Developing Economies, 2020 (continued)

Growth Opportunity 2—Investment in High-quality Medical Plastics for the Developed World, 2020

Growth Opportunity 2—Investment in High-quality Medical Plastics for the Developed World, 2020 (continued)

Growth Opportunity 3—Inorganic Growth Strategies and Value-driven Pricing Approach for Both Developed and Developing Economies, 2020

Growth Opportunity 3—Inorganic Growth Strategies and Value-driven Pricing Approach for Both Developed and Developing Economies, 2020 (continued)

Your Next Steps

Why Frost, Why Now?

List of Exhibits

List of Exhibits (continued)

List of Exhibits (continued)

Legal Disclaimer

Abbreviations and Acronyms Used

Abbreviations and Acronyms Used (continued)

Abbreviations and Acronyms Used (continued)

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The global medical plastics market includes commodity thermoplastics (CTP), engineering thermoplastics (ETP), thermoplastic elastomers (TPE), thermosets, and high performance polymers (HPP). By end-product family type, the market has been divided into devices, equipment and instruments (DEI), prosthetics & implants (P&I), and healthcare packaging (packaging). Medical plastics offer remarkable benefits over conventional materials, such as metals, glass, and ceramics, and have been revolutionizing the medical industry over the last few years. They are extremely cost-effective, flexible, durable, biocompatible, chemically inert, resistant to wear and tear, lightweight, and recyclable. Plastic materials offer miniaturization, greater ease of processing and sterilization and are being used worldwide for various medical applications including medical devices, surgical instruments, capital equipment, prosthetics, implants, and pharma packaging. Both by value and volume, CTP including polyolefins (PO), polyvinyl chloride (PVC), polyethylene terephthalate (PET), and polystyrene (PS) had the highest share in the global medical plastics market in 2020 and are expected to retain it during the forecast period. These polymers are extensively preferred due to their low costs, performance benefits, and wider availability. CTP are majorly used in packaging, such as manufacturing medical bottles, containers, prefilled syringes, caps and closures, blister packaging, blood bags, and other pharma and medical packaging products. Developing countries, especially those in Asia-Pacific, MEASA, and Latin America are undergoing rapid economic development and urbanization and have emerged as prominent low-cost manufacturing hubs for various plastic-based medical products. The mature markets of North America and Europe are focused on acquiring sustainable value-added medical plastics while providing improved performance across diverse domains. Due to the recent COVID-19 pandemic, the healthcare industry witnessed a significant drop in elective and semi-elective medical procedures including plastic, replacement, exploratory, and cardiovascular surgeries in 2020, as hospitals focused on treating COVID-19 patients. To retain their position in the supply chain and ensure a smooth product supply of products, medical plastic manufacturers are anticipated to strengthen long-term relationships with resin producers, distributors, compounders, and extruders. In addition, the market is expected to exhibit mergers and acquisitions and vertical integration activities among companies to increase their product offerings and stay ahead of the competition. Companies are also focused on developing value-added and innovative product grades and enhancing the performance of existing ones to drive revenue growth.
More Information
Deliverable Type Market Research
No Index No
Podcast No
Author Sayantan Sengupta
Industries Chemicals and Materials
WIP Number MFEB-01-00-00-00
Is Prebook No
GPS Codes 9100-A2,9104-A2,9938-A2,9595,9870