Medical Plastics Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The report covers Global Medical Plastics Market Share and it is segmented by Type (Traditional Plastics, and Engineer Plastics), Application (Surgical Instruments, Disposables, Diagnostic Instruments, Sterilization Trays, Anesthetic and Imaging Equipment, and Others), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa).

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Medical Plastics Market Size

Medical Plastics Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR > 5.00 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration Low

Major Players

Medical Plastics Market Major Players

*Disclaimer: Major Players sorted in no particular order
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Medical Plastics Market Analysis

The market for Medical Plastic globally is expected to grow at a CAGR of over 5 % during the forecast period. Major factors driving the market studied are the increase in the demand for medical devices from the Asia-Pacific region and the growing usage of prosthetics. On the flip side, the environmental concerns regarding the disposal of medical plastics and the unfavorable conditions arising due to the COVID-19 outbreak are hindering the market growth.

  • The surgical instruments application is expected to dominate the global medical plastics market over the forecast period. 
  • Asia-Pacific region represents the largest market and is also expected to be the fastest-growing market over the forecast period owing to the increasing consumption from countries such as China, India, and Japan.

Medical Plastics Market Trends

This section covers the major market trends shaping the Medical Plastics Market according to our research experts:

Surgical Instruments Application to Dominate the Market

  • Engineering plastics have replaced wood in its application as a handle for surgical instruments. Being a non-hygroscopic material, these plastics can be used in place of wood or any other metal as a handle for surgical instruments.
  • Another advantage of plastics is the ease of cleaning. Moreover, it has a dimensional accuracy and can be molded into any shape.
  • Plastics can be used as a material for handles of surgical instruments, due to its high impact resistance and thermal stability. Further, this material needs low maintenance and less frequent sterilization.
  • All the manufacturers are switching from metal and wood to engineering plastics like POM, due to its low price, superior performance, non-hygroscopic property, and good machinability.
  • The market for surgical instruments is lucrative in emerging economies, due to growth in medical tourism, increasing disposable incomes of consumers, and increasing health awareness among people. With an increase in the surgical instruments market, the market for POM is also likely to increase at an almost equivalent rate, over the forecast period.
  • The implementation of Da Vinci surgical system (robotic-assisted) may play a significant role in the surgical instruments industry, since it provides a platform for robotic-assisted surgeries, which use certain parts made with plastics.
Medical Plastics Market : Revenue (%), by Application, Global, 2019

Asia-Pacific Region to Dominate the Market

  • The Asia-Pacific region is expected to dominate the market due to the increase in medical devices manufacturing in China, India, Japan, and ASEAN Countries.
  • The steady increase in the economy of India and the mission to reach USD 5 trillion economies combined with a substantial increase in Foreign Direct Investment will result in an increased lifestyle of people. Thereby resulting in an increase in spending on healthcare. Double-digit growth in the medical devices industry can safely be estimated.
  • Ayushman Bharat scheme whereby the Govt has planned to reach out to provide affordable healthcare to approx. 100 million families or 500 million individuals will greatly impact the medical plastic market.
  • Japan has a good medical device manufacturing facility, and it exports the majority to other countries, recent revamps in the laws has given domestic manufacturers a big gain, relaxing some regulations.
  • The population of Japan is increasingly tilted towards the elderlies, where 25% of the population has population of 65 or more. Therefore, the increase in govt spending will propel the medical device market.
  • South Korea has been experiencing a boom in medical tourism and this may result in increasing medical plastics demand.
  • Such factors are expected to contribute to the demand for medical plastics consumption during the forecast period.
Medical Plastics Market : Growth Rate by Region, 2020-2025

Medical Plastics Industry Overview

The Medical Plastics market is fragmented with many major players competing globally. The major companies include Saint-Gobain Performance Plastics, Röchling, Celanese Corporation, DuPont, and Mitsubishi Chemical Corporation among others.

Medical Plastics Market Leaders

  1. Saint-Gobain Performance Plastics

  2. Röchling

  3. Celanese Corporation

  4. DuPont

  5. Mitsubishi Chemical Corporation

*Disclaimer: Major Players sorted in no particular order

Medical Plastics Market Concentration
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Medical Plastics Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Increasing Demand for Medical Devices from the Asia-Pacific Region

      2. 4.1.2 Expanding Prosthetics Market

    2. 4.2 Restraints

      1. 4.2.1 Environmental Concerns Regarding Medical Plastics

      2. 4.2.2 Unfavorable Conditions Arising Due to COVID-19 Outbreak

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porters Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Type

      1. 5.1.1 Traditional Plastics

        1. 5.1.1.1 Polyethylene (PE)

        2. 5.1.1.2 Polypropylene (PP)

        3. 5.1.1.3 Polystyrene(PS)

        4. 5.1.1.4 Polyvinylchloride(PVC)

      2. 5.1.2 Engineer Plastics

        1. 5.1.2.1 Acrylonitrile butadiene styrene (ABS)

        2. 5.1.2.2 Polycarbonate (PC)

        3. 5.1.2.3 Polymethylmethacrylate (PMMA)

        4. 5.1.2.4 Polyetheretherketone (PEEK)

        5. 5.1.2.5 Polyoxymethylene (POM)

        6. 5.1.2.6 Polyphenylene Oxide (PPO)

        7. 5.1.2.7 Others

    2. 5.2 Application

      1. 5.2.1 Surgical instruments

      2. 5.2.2 Disposables

      3. 5.2.3 Diagnosis instruments

      4. 5.2.4 Sterilization trays

      5. 5.2.5 Anesthetic and imaging equipment

      6. 5.2.6 Others

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Japan

        4. 5.3.1.4 South Korea

        5. 5.3.1.5 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 United Kingdom

        3. 5.3.3.3 Italy

        4. 5.3.3.4 France

        5. 5.3.3.5 Rest of Europe

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 MiddleEast and Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share (%)/Ranking Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Celanese Corporation

      2. 6.4.2 Daicel Corporation

      3. 6.4.3 DuPont

      4. 6.4.4 Eastman Chemical Company

      5. 6.4.5 Ensinger

      6. 6.4.6 GW Plastics

      7. 6.4.7 Mitsubishi Chemical Corporation

      8. 6.4.8 Nolato AB (publ)

      9. 6.4.9 NUSIL

      10. 6.4.10 Orthoplastics Ltd

      11. 6.4.11 Röchling SE & Co. KG

      12. 6.4.12 SABIC

      13. 6.4.13 Saint-Gobain Performance Plastics

      14. 6.4.14 Solvay

      15. 6.4.15 Sylvin Technologies

      16. 6.4.16 Teknor Apex

      17. 6.4.17 Westlake Plastics

    5. *List Not Exhaustive

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Increasing Investment in 3-D Printing and Imaging Technologies

    2. 7.2 Other Opportunities

**Subject to Availability
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Medical Plastics Industry Segmentation

The Medical Plastics market report includes:

Type
Traditional Plastics
Polyethylene (PE)
Polypropylene (PP)
Polystyrene(PS)
Polyvinylchloride(PVC)
Engineer Plastics
Acrylonitrile butadiene styrene (ABS)
Polycarbonate (PC)
Polymethylmethacrylate (PMMA)
Polyetheretherketone (PEEK)
Polyoxymethylene (POM)
Polyphenylene Oxide (PPO)
Others
Application
Surgical instruments
Disposables
Diagnosis instruments
Sterilization trays
Anesthetic and imaging equipment
Others
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
MiddleEast and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
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Medical Plastics Market Research FAQs

The Medical Plastics Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)

Saint-Gobain Performance Plastics, Röchling, Celanese Corporation, DuPont and Mitsubishi Chemical Corporation are the major companies operating in the Medical Plastics Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the Asia Pacific accounts for the largest market share in Medical Plastics Market.

The report covers the Medical Plastics Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Medical Plastics Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

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Medical Plastics Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)