San Francisco, August 5, 2021/PRNewswire/– Global Industry Analyst Corporation (GIA), a leading market research company, today released a new market titled “Medical Plastics-Global Market Trajectory and Analysis” research report. The report presents a new perspective on the opportunities and challenges of major changes in the market after COVID-19.
Fact Overview Version: 16; Release Date: May 2021 Execution Pool: 7768 Company: 77-Players covered include BASF SE; Celanese; Covestro; DuPont; Eastman Chemical Company; Enxin Ge; Evonik Industries; GW Plastics; HMC Polymers Co., Ltd.; Norato AB; Avantor, Inc; Bone Plastic Co., Ltd.; Saudi Basic Industries; Saint-Gobain High Performance Plastics; Solvay; TekniPlex; Borun; Trelleborg Sealing Solutions; Trinseo and others. Coverage: All major regions and key market segments: Type (engineering plastics, high-performance plastics (HPP), standard plastics, silicone, other types); applications (medical disposables, drug delivery, medical devices and tools, Prosthetics, other applications) Geography: World; United States; Canada; Japan; China; Europe; France; Germany; Italy; United Kingdom; Spain; Russia; Rest of Europe; Asia Pacific; Australia; India; South Korea; Rest of Asia Pacific; Latin America; Argentina Brazil; Mexico; the rest of Latin America; the Middle East; Iran; Israel; Saudi Arabia; the UAE; the rest of the Middle East; Africa.
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By 2026, the global medical plastics market will reach 28.2 billion U.S. dollars. Plastics used in medical care are usually medical-grade polymer materials that meet regulatory standards. These materials are strictly designed for medical purposes or plastics used in consumer product packaging. Due to increased use of medical devices, improvements in medical packaging, enhanced biocompatibility of high-end polymers, and the increasing importance of portable and compact devices, medical plastics are expected to continue to show encouraging growth. The increasing use of implants, the increasing ageing of the population, and the shift to disposable devices will further promote market growth. In addition, the increase in the number of plastic-intensive and complex operations such as plastic surgery, advanced prostheses, and joint replacements may stimulate the demand for medical plastics. Technologies such as transplantation medicine, tissue engineering, and specialized polymer coatings can create complex designs and drug coating devices for targeted drug delivery, which are expected to drive the demand for medical plastics.
During the COVID-19 crisis, the global medical plastics market in 2020 is estimated to be 20.6 billion U.S. dollars, and is expected to reach a revised 28.2 billion U.S. dollars by 2026, growing at a compound annual growth rate of 5.3% during the analysis period. Engineering plastics is one of the market segments analyzed in the report, and it is expected that by the end of the analysis period, the compound annual growth rate will reach 5.9% and reach 7.4 billion US dollars. After a thorough analysis of the business impact of the pandemic and the economic crisis that it triggered, the growth of the High Performance Plastics (HPP) segment was readjusted to a revised 5% compound annual growth rate for the next 7 years.
The US market is expected to be 5.8 billion U.S. dollars in 2021, while China is expected to reach 4 billion U.S. dollars by 2026. The US medical plastics market is expected to be 5.8 billion U.S. dollars by 2021. China is the second largest economy in the world. It is estimated that by 2026, the market size is expected to reach 4 billion U.S. dollars, with a compound annual growth rate of 6.4% during the analysis period. Other notable geographic markets include Japan and Canada, which are expected to grow by 4.7% and 4.6% respectively during the analysis period. In Europe, Germany is expected to grow at a compound annual growth rate of approximately 5.1%.
The standard plastics sector will reach 10.9 billion US dollars by 2026. Standard plastics, such as polyvinyl chloride and polyolefin, can be used in medical disposables, containers, films, packaging, medical bags, catheters, implants and caps; blood bags and blood vessels Wait. In the field of global standard plastics, the United States, Canada, Japan, China and Europe will promote the expected compound annual growth rate of 5.4% in this field. The total market size of these regional markets in 2020 is 5.8 billion U.S. dollars, and by the end of the analysis period, they are expected to reach 8.4 billion U.S. dollars. China will remain one of the fastest growing countries in this regional market cluster. Led by countries such as Australia, India, and South Korea, the Asia-Pacific market is expected to reach US$1 billion by 2026, while Latin America will grow at a compound annual growth rate of 5.9% during the analysis period. more
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Post time: Aug-30-2021