by Precedence Research a new report on medical plastic compounds Market size, share, growth, industry trends, and forecast 2027, covering various industry elements and growth trends helpful for predicting the market’s future. The global medical plastic compounds market size was valued at US$ 52.24 billion in 2019. The global medical plastic compounds market is projected to reach US$ 79.56 billion by 2027, registering a compound annual growth rate (CAGR) of 5.4% during the forecast period from 2020 to 2027.
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Table of Contents
Medical Plastic Compounds Market Growth Factors:
Medical devices that can be implanted in a human body are prominently used by the ageing population having lower immunity. Italy, Japan, Germany, Portugal, and other developed countries such as the U.S. have significant population base of geriatric people. As per the World Health Organization (WHO) report, around 2 Billion people across the globe are predicted to be above 60 year of age by the end of year 2050, three times of the geriatric population in 2000.
Medical advancements and high-end treatment facilities in the developed regions are the major factors behind the prominent growth of geriatric population in these regions. This in turn has also increases the healthcare budget of the country coupled with the demand for the implantable medical devices. Hence, the aforementioned factors are likely to augment the market size for medical plastic compounds in these countries.
Besides this, the outbreak of coronavirus has prompted governments of several regions to increase their investment in the healthcare sector along with developed medical infrastructure in order to protect their citizens from the upcoming uncertainties in the near future.
Further, this outbreak of COVID-19has significantly surged the demand for PPE kits that further expected to boost the market growth for medical plastic compounds in the near future. Polypropylene plastics are largely utilized for the manufacturing of face shields, goggles, gloves, masks, head covers, coveralls or gowns, and shoe covers in accordance to minimize the risk of contamination. In addition to this, the shortage of these PPE kits across the globe has drastically uplifted the demand for medical grade plastics.
Medical Plastic Compounds Market Report Scope
| Report Highlights | Details |
| Market Size | USD 79.56 Billion by 2027 |
| Growth Rate | CAGR of 5.4% from 2021 to 2027 |
| Largest Market | North America |
| Fastest Growing Market | Asia Pacific |
| Base Year | 2021 |
| Forecast Period | 2021 to 2027 |
| Segments Covered | Product, Application, Region |
The global medical plastic compounds market report offers various segments analysis by size, trends, growth factors, opportunities and key country outlook to 2027. The report offers a detailed analysis and information as per medical plastic compounds, market segments helping our readers to get a comprehensive overview of the global market. Several players are planning to focus on developing cost-effective products or services, aiming to maintain a strong foothold in the market.
The company profiling of leading market players is included this report with Porter’s five forces analysis and Value Chain analysis. Further, the strategies exercised by the companies for expansion of business through mergers, acquisitions, and other business development measures are discussed in the report. The financial parameters which are assessed include the sales, profits and the overall revenue generated by the key players of Market.
medical plastic compounds Market Report Highlights
- North America expected to dominate the global market accounting for a revenue share of over 35% in 2019 because of rising incidence of lifestyle oriented diseases
- The Asia Pacific is the most lucrative region owing to the rapid growth of healthcare industry that generates significant demand for the new and advanced medical devices
- PVC dominated the product segment with more than 30% market share in the year 2019 owing to its wide application in single-use pre-sterilized medical devices
- PC estimated to grow at a steady pace of nearly 6% during the forecast period due to its superior properties that include optical clarity, better inherent strength, and many more
- The disposables emerged as the largest application segment accounting for a value of over USD 10 billion in the year 2019 because of rising usage of disposable and sterilized gloves and syringes
- The catheters application segment estimated to witness a steady growth rate of nearly 5.5% during the forecast years due to its increasing application in the healthcare industry
Read Also@ Polypropylene Market: Global Industry Trends, Share, Size, Growth, Industry Statistics, Opportunity and Forecast 2020-2027
Some of the prominent players in the medical plastic compounds market include:
- Nolato AB
- Freudenberg Medical LLC
- Rochling Group
- GW Plastics Inc.
- MedPlast Inc.
- Phillips Medisisze Corporation
- C&J Industries Inc.
- Tekni-Plex, Inc.
- Pexco LLC
- Medical Plastic Devices Inc.
Medical Plastic Compounds market Segmentation
By Product
- Polyethylene
- Polyvinylchloride
- Polypropylene
- Polyester
- Polystyrene
- Polycarbonate
- Acrylics
- Polyurethane
- Others
By Application
- Catheters
- Disposables
- Drug Delivery System
- Surgical Instruments
- Implants
- Medical Bags
- Others
Regional Segmentation
- Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia]
- Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland]
- North America [United States, Canada, Mexico]
- South America [Brazil, Argentina, Columbia, Chile, Peru]
- Middle East & Africa [GCC, North Africa, South Africa]
Key Questions are
- What are the key factors influencing the medical plastic compounds market in each region?
- How much value will the global market generate by the end of the forecast period?
- What will be the CAGR of the global market between 2021 and 2027?
- What would be the Y-o-Y growth trend of the global market between 2021 and 2027?
- What is the future scope and current trends in technologies of the global market?
- What is the revenue of the global market based on segments?
- Which key strategies are used by top players of the global market?
- Which are the leading companies in the global market?
- What are the essential strategies by key stakeholders in the market to expand their geographic presence?
- What are the major advancements witnessed in the global market?
Research Objectives and Research Approach
The comprehensive report on the global medical plastic compounds market begins with an overview, followed by the scope and objectives of the study. The report provides detailed explanation of the objectives behind this study and key vendors and distributors operating in the market and regulatory scenario for approval of products. Following this, the report provides detailed explanation of objectives of this study and laid down by accredited agencies in the purview of research in the global medical plastic compounds market.
It is followed by market introduction, market dynamics, and an overview of the global market, which includes analysis of market drivers, restraints, and trends pertaining to the global market. Furthermore, Y-o-Y growth analysis with elaborated insights has been provided in order to understand the Y-o-Y growth trend of the global market.
For reading comprehensibility, the report has been compiled in a chapter-wise layout, with each section divided into smaller sections. The report comprises an exhaustive collection of graphs and tables that are appropriately interspersed. Pictorial representation of actual and projected values of key segments is visually appealing to readers. This also allows comparison of the market shares of key segments in the past and at the end of the forecast period.
The report analyzes the global medical plastic compounds market in terms of type, application, region and others. Key segments under each criteria are studied at length, and the market share for each of these at the end of 2027 has also been provided. Such valuable insights enable market stakeholders in making informed business decisions for investment in the global market.
Why should you invest in this report?
If you are aiming to enter the global medical plastic compounds market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for medical plastic compounds are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2027 so that you can plan your strategies to enter this market accordingly.
Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
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