ALBANY, NY, February 18, 2021 / PRNewswire / – Medical plastics refer to a type of polymers. Product is widely accepted in healthcare sector worldwide. Engineering plastics, PE, PVC, PS, PP, and silicone are some of the product types available in the market.
A recent study published by Transparency Market Research reveals that the global medical plastics market is expected to expand at 7.2% CAGR in the forecast period 2019–2027. With this rate of growth, there seems to be market value US $ 15.4 Bn ro 2027.
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Medical Plastics Market: Major Takeaways
- Expanding the worldwide healthcare sector fuel demand in medical plastics market
Medical plastics are widely used in the manufacture of a wide range of healthcare products including dental appliances, catheters and syringes, drug delivery devices, diagnostic instruments, medical bags, surgical instruments, and implants. Therefore, the expansion of healthcare sector worldwide is likely to increase the demand for these devices. This scenario clarifies that the global medical plastics market will grow at a reasonable pace in the coming years.
- Reproducibility: Capture a Key Feature of Medical Plastics
Medical plastics can be recycled. This is one of the main motivations for medical device manufacturers to use medical plastics in their production work. As a result, the companies involved in the medical plastics market are getting promising sales opportunities.
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Medical Plastics Market: Growth Boosters
- Manufacturers of medical plastics are finding promising sales routes. Some of the key factors driving this outlook include the cost-effectiveness, flexibility, and safety of these medical-grade plastics.
- In the last few years, the manufacturing companies involved in the healthcare sector are increasingly introducing high-tech polymers in the manufacture of devices, which are used in field management. wide range of health issues. On the other hand, many enterprises are focused on using plastics instead of titanium / stainless steel metals for the installation of a number of medical devices, including medical tubs. This scenario suggests that the global medical plastics market will expand at a promising pace in the coming years.
- In the past, healthcare professionals around the world have become increasingly obsessed with the use of sensitive medical products, which are manufactured medical plastics. The list of disposable medical products made using medical plastics includes inhalation masks, bed pans, and IV tubes. Therefore, growing demand for all of these products is likely to contribute to market growth in the coming years.
- Various medical products such as surgical kits, instruments, examination gloves, and irrigation bottles made using medical plastics can be sterilized. The sterilization allows all of these products to be reused. Therefore, increased use of all these products in healthcare sector is expected to provide fuel sales opportunities in the medical plastics market in the coming years.
- Medical plastics are light in weight. As a result, they are increasingly used in the manufacture of artificial cornea, orthopedic appliances, thin tubes called catheters, and hearing aids. Therefore, increased demand for these products is likely to push the growth of medical plastics market through 2020 to 2030.
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Medical Plastics Market: Established Partners
There will be many well-established players in the medical plastics market. As a result, the competitive landscape of this market appears to be quite intense. Some of the key players in this market are:
- BASF SE
- Corporra Exxon Mobil
- Evonik Business AG
- Dow DuPont
- Corporal Celanese
- Arkema SA
- Solvay
- Corporra Lubrizol
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