Key trends driving market expansion include the aging population’s demand for improved medical gadgets and rising healthcare spending in developing nations like China and India along with an increase in demand for inexpensive and effective healthcare systems, the Global Medical Plastics Market is Forecasted to Reach US$ 60 Bn by 2028 says Ken Research Study.
Plastics made specifically to be used in the production of medical products are known as medical-grade plastics. Additionally, it’s employed in producing primary pharmaceutical packaging and in vitro diagnostic items, which protect and contain medications to prevent tampering.
Ken Research shares 3 key insights on this high-opportunity market from its latest research study.
1. Growing Adoption of Medical Devices to Propel the Growth Rate of the Market
According to Research estimates, the Global Medical Plastics Industry– which was valued from around US$ 30 Bn in 2017 to nearly US$ 40 Bn by 2022 – is expected to grow further to more than US$ 60 Bn opportunity by 2028.
Due to the lower costs incurred compared to hospitals and intensive care, the need for medical devices has expanded as the home healthcare industry has grown. The rise in demand for the devices is also a result of the different diagnostic procedures hospitals use to diagnose patients. The desire for better healthcare facilities and the expansion of hospitals has both contributed to the growth of the medical equipment industry. As a result, key factors affecting demand for medical devices are their awareness, accessibility, affordability, and flexibility.
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2. Growing Awareness of Personal Hygiene in the Face of the Global Pandemic to Drive the Market Growth
In the wake of the pandemic, the market is anticipated to develop as a result of rising consumer awareness of personal hygiene and strong demand for home care goods. With the pandemic driving up demand for medical supplies like gloves, masks, sanitizers, and PPE kits, businesses are producing or creating new goods to fulfill the demand.
Personal hygiene upkeep has become more important in the years to decrease the likelihood of infection which over the course of the forecast period will benefit the global market. The healthcare industry has made hand washing and surface cleaning a requirement in the ongoing fight against coronavirus.
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3. Improper Medical Waste Disposal to Stagnate the Market Growth
The enormous volume of non-biodegradable garbage dumped in the surroundings is the biggest problem for the medical plastics sector. These medical wastes contain infectious bacteria and viruses that were used for dressing, surgery, and diagnostic purposes before being disposed of. These microorganisms combine with land, water, and air mediators in open landfills to infect healthy communities.
The generation and disposal of medical waste are crucial, particularly in nations with a high population and inadequate sanitation. Medical facilities, such as hospitals, clinics, and locations used for diagnosis and treatment, produce extremely dangerous wastes and increase the risk of deadly infections.
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Key Topics Covered in the Report: –
Snapshot of the Global Medical Plastics Market
Industry Value Chain and Ecosystem Analysis
Market size and Segmentation of the Global Medical Plastics Market
Historic Growth of the Overall Global Medical Plastics Market and Segments
Competition Scenario of the Market and Key Developments of Competitors
Porter’s 5 Forces Analysis of the Global Medical Plastics Market
Overview, Product Offerings, and SWOT Analysis of Key Competitors
COVID-19 Impact on the Overall Global Medical Plastics Market
Future Market Forecast and Growth Rates of the Total Global Medical Plastics Market and by Segments
Market Size of Product / Application Segments with Historical CAGR and Future Forecasts
Analysis of the Medical Plastics Market in Major Regions
Major Production / Consumption Hubs in the Major Regions
Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
Overview of Notable Emerging Competitor Companies within Each Major Country
Major Players Mentioned in the report
Evonik Industries AG
Solvay S.A.
Dow
Eastman Chemical Company
Röchling Group
DuPont de Nemours Inc.
BASF SE
Celanese Corporation
Mitsubishi Chemical Corporation
Nolato AB
Saint-Gobain Performance Plastics
Notable Emerging Companies Mentioned in the Report
Minnesota Rubber & Plastics
Advantech Plastics, LLC
Industrial Plastic Supply, Inc.
Somerset Plastics Co., Inc.
Total Plastics, Inc.
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Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report
Medical Machine and Equipment Manufacturers
Plastics Manufacturers
Laboratory Equipment Dealers
Healthcare Products Manufacturers
Medical Device Packaging Manufacturers
Plastics Chemical Manufacturers
Organic Polymers Manufacturers
Implant Packaging Manufacturers
Medical Soft Goods Manufacturers
BioPharm Devices Manufacturers
Government Healthcare Departments
Environmental Protection Regulators
Chemical Products Suppliers
Time Period Captured in the Report
Historical Period: 2017-2021
Forecast Period: 2022E-2028F
For More Information on the Research Report, Click on the Below Link: –
Global Medical Plastics Market Analysis
Contact Us: –
Ken Research
+91-9015378249