Medical Plastics Provide Innovation and Breakthroughs for the Medical Device Industry

Medical Plastics Provide Innovation and Breakthroughs for the Medical Device Industry

Plastics are polymeric material that can be molded into any shape. Medical plastics are generally made from thermoplastic materials. After thermoplastics are heated, it can be easily molded. Medical grade plastics are temperature and chemical resistant. Some of the majorly used medical plastics include polycarbonate, polypropylene, and polyethylene. It can be used to manufacture medical devices and equipment, such as medical and surgical tubing.

Growing investment in healthcare sector, coupled with aging population is expected to drive the market growth. For instance, in January 2021, PTA plastics invested over $2 million in capital equipment and buildings. This injection molding machines and finishing equipment will be used for medical plastics products. Additionally, rise in disposable income and change in consumer lifestyle will further propel the demand for medical plastics. As the demand for medical devices is gradually increasing in developed countries like U.S. and Canada from insured individuals, the medical plastics market is expected to witness steady growth. Furthermore, the fluctuation in global fuel price is another major factor influencing the market growth. However, toxic elements such as bisphenol A found in medical plastics have adverse effect on infants, which can negatively impact the medical plastics market growth.

The global medical plastics market was valued at $24.1 billion in 2019, and is projected to reach $37.2 billion by 2027, growing at a CAGR of 5.6% from 2020 to 2027.

By Type :-

- Polyvinyl Chloride (PVC)
- Polypropylene (PP)
- Engineering Plastics
- Polyethylene (PE)
- Polystyrene (PS)
- Silicones
- Other

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