The global medical plastics market size was US$ 30.2 billion in 2021. The global medical plastics market is forecast to grow to US$ 50.9 billion by 2030 by registering a compound annual growth rate (CAGR) of 8.5% during the forecast period from 2022 to 2030.

Factors Influencing the Market

Medical plastic demand is likely to register steady growth because of the growing demand for medical devices. Medical plastics are used to manufacture medical components such as syringes, catheters, surgical instrument handles, etc. In addition, the growing number of cases demanding surgical implants and superior fatigue resistance will fuel the growth of the medical plastics market.

Growing healthcare expenditure and improving infrastructure will surge the demand for efficient medical devices. As a result, it will propel the medical plastics market forward. Furthermore, the easy availability of medical plastics, combined with cost-effectiveness and growing awareness related to the product, will escalate the growth of the medical plastics market during the forecast period.

Stringent government regulations limiting the use of plastic may restrict the growth of the market. On the contrary, growing individual spending in healthcare and rising demand for advanced infrastructure will amplify the demand for efficient devices, thereby propelling the medical devices market forward.

Regional Analysis

The Asia-Pacific medical plastics market is forecast to emerge as the largest market, owing to the rising demand for high-quality, cost-efficient, and advanced devices. Furthermore, the growing investments by the governments of China, India, and Singapore in the healthcare sector will drive the market forward. Public awareness related to high-quality medical products is increasing. Furthermore, individual spending on healthcare is also growing rapidly. Thus, it will surge the growth of the global medical plastics market.

COVID-19 Impact Analysis

The global medical plastics market witnessed the COVID-19 pandemic as an opportunity. It is because the demand for efficient medical tools and devices surged during the pandemic. Even though the pandemic declined the cases of surgeries, the demand for efficient infrastructure and advanced technology surged abruptly. Moreover, government investment in this sector grew steeply during the pandemic. This global health emergency also highlighted the demand to focus more on healthcare. Thus, governments at focusing on improving public and private healthcare infrastructure by investing highly in it. As a result, it will fuel the growth of the global medical plastics market during the forecast period.

Competitors in the Market

Rochling Group
Nolato AB
GW Plastics, Inc.
SABIC
Saint-Gobain Performance Plastics
Celanese Corporation
Eastman Chemical Company
The Dow Chemical Company
Orthoplastics Ltd.
Tekni-Plex
Other Prominent Players
Market Segmentation

The global medical plastic market segmentation focuses on Application, Type, and Region.

By Application Outlook

Medical Device Packaging
Medical Components
Orthopedic Implant Packaging
Orthopedic Soft Goods
Wound Care
Cleanroom Supplies
BioPharmaDevices
Mobility Aids
Sterilization and Infection Prevention
Tooth Implants
Denture Base Material
Other Implants
Others
By Type Outlook

Disposables
Drug Delivery Devices
Diagnostic Instruments
Catheters
Surgical Instruments
Others
By Regional Outlook

North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America