Medical Plastics Market is anticipated to grow at a CAGR of 6.03% from 2021 to 2027 globally – Axiom MRC

The factors such as increase in the demand for the highly developed medical devices and technology, along with the ongoing research and development activities in the field of medical devices and plastics, increasing investment in the healthcare industry in the developing nations and growing inclination towards the minimum invasive medical procedures are driving the growth of the medical plastics market during the forecast period. The other factors like high disposable income, growing consumer awareness regarding the hygiene, growing technological advancements for increasing the demand of the products and increase in the demand and popularity of the home care products are likely going to propel the growth of the medical plastics market over the forecast period.

New York, September 2021: Axiom Market Research & Consulting™ added a report on medical plastics market which includes study on type, application, and geography. The medical plastics market was projected to grow at a CAGR of 6.03% for the forecast period 2021 to 2027. The global market is estimated and forecasted in terms of revenue (USD Million) and volume (Kiloton) generated by the medical plastics market.

The report analyses the medical plastics report based on the type, application, and geography. By type, the medical plastics market is segmented into standard plastics, engineering plastics, high performance plastic (HPP), silicone, and others. By application, the medical plastics market is segmented into medical disposables, prosthetics, medical instruments and tools, drug delivery, and others. By geography, the medical plastics market is studied in the regions including North America, Europe, Asia Pacific, and Rest of the World.

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The key players in the medical plastics market are SABIC, Arkema, BASF, Biomerics, Celanese Corporation, Covestro, DSM, E. I. Du Pont De Nemours and Company, Eastman Chemical Company, Ensinger, Evonik, Invibio, Lanxess, Londyllbasell, Lubrizol, Mitsubishi Chemical Advanced Materials, Polyone, Röchling, Rtp Company, Saint Gobain Performance Plastics, Solvay, Tekni Plex, Teknor Apex, Trinseo, and Wacker Chemie among others.

Regional Trends of Medical Plastics Market

Based on the geography, the medical plastics market is studied in the regions including North America, Europe, Asia Pacific, and Rest of the World. The region of North America had held the highest market share of the medical plastics market and North America is also estimated to dominate the medical plastics market during the forecast period. The Asia Pacific region has been projected to experience fast growth in the medical plastics market during the forecast period.

Medical Plastics Market Segmentation Highlights

• The engineering plastics type segments has been projected to witness rapid growth in the medical plastics market during the forecast period. The segment is driven by some benefits including standard plastics, like rapid production time, resistance to high impact, low weight, shock, flame, and chemicals, along with improved friction reduction
• The medical disposables application segment has dominated the medical plastics market in 2020 and it is also estimated to maintain the dominance during a high growth rate during the forecast period. The segment is driven by an increase in the adoption of syringes, bags, and several others for avoiding the different hospital-acquired disease that can be caused the medical devices
• North America held the highest market share in the medical plastics market in 2020

Research Objectives of Medical Plastics Market Report:

• Analyzing the outlook of the medical plastics market with the recent trends and Porter’s five forces analysis
• Market dynamics, which essentially consider the factors that are impelling the present market scenario, along with growth prospects of the market over the forecast period
• Market segmentation analysis, including qualitative and quantitative research, incorporating the impact of economic and non-economic aspects
• Country-level analysis, integrating the demand and supply forces that are influencing the growth of the medical plastics market
• Competitive landscape involving the market share of major players, along with the key strategies adopted for development over the past five years
• Comprehensive company profiles, covering the product offerings, key financial information, recent developments and strategies employed by the major market players.

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