New York, September 2021: Axiom Market Research & Consulting™ added a report on medical plastics market which includes study on type, application, and geography. The medical plastics market was projected to grow at a CAGR of 6.03% for the forecast period 2021 to 2027. The global market is estimated and forecasted in terms of revenue (USD Million) and volume (Kiloton) generated by the medical plastics market.

The factors such as increase in the demand for the highly developed medical devices and technology, along with the ongoing research and development activities in the field of medical devices and plastics, increasing investment in the healthcare industry in the developing nations and growing inclination towards the minimum invasive medical procedures are driving the growth of the medical plastics market during the forecast period. The other factors like high disposable income, growing consumer awareness regarding the hygiene, growing technological advancements for increasing the demand of the products and increase in the demand and popularity of the home care products are likely going to propel the growth of the medical plastics market over the forecast period.

The report analyses the medical plastics report based on the type, application, and geography. By type, the medical plastics market is segmented into standard plastics, engineering plastics, high performance plastic (HPP), silicone, and others. By application, the medical plastics market is segmented into medical disposables, prosthetics, medical instruments and tools, drug delivery, and others. By geography, the medical plastics market is studied in the regions including North America, Europe, Asia Pacific, and Rest of the World.

Engineering plastics type segment is estimated to witness rapid growth in the medical plastics market during the forecast period

The engineering plastics has been providing some of the major benefits over the standard plastics like good malleability, production time, resistance to high impact, shock, flame, low weight, along with the chemicals and improved friction reduction. All these benefits have been responsible in making the engineering plastics more demandable in the applications of medical plastics.

The medical disposables application segment has dominated the medical plastics market in 2020

The medical disposables have been manufactured and designed for all the medical and healthcare facilities, along with the hospitals and care homes and for the healthcare workers. The medical disposables have been intended for the temporary use and an increase in the adoption of the disposable bags, syringes, and several others for the purpose of avoiding the different disease acquired in the hospitals, have been responsible towards the growth of the segment in the medical plastics market over the forecast period.

North America is expected to hold the highest market share in the medical plastics market over the forecast period

Because of the well-established medical and healthcare devices industry of the North America, along with the growing expenditure on health, and massive presence of the different key market players are major driving factors that are behind the growth of the North America medical plastics market.

Key Players

The key players in the medical plastics market are SABIC, Arkema, BASF, Biomerics, Celanese Corporation, Covestro, DSM, E. I. Du Pont De Nemours and Company, Eastman Chemical Company, Ensinger, Evonik, Invibio, Lanxess, Londyllbasell, Lubrizol, Mitsubishi Chemical Advanced Materials, Polyone, Röchling, Rtp Company, Saint Gobain Performance Plastics, Solvay, Tekni Plex, Teknor Apex, Trinseo, and Wacker Chemie among others.

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