Plastics that are used in medical applications are known as medical plastics. These plastics are used in manufacturing disposables, medical bags, catheters, syringes, implants, surgical instruments, diagnostic instruments, dental tools, drug delivery devices, and others.

The medical plastics market is expected to reach USD 21.06 Billion by 2022, at a CAGR of 7.3% between 2017 and 2022. With increasing competition, varying consumer demands, and growing technological dominance, several medical device manufacturers are adopting medical plastics, thus fueling the growth of the medical plastics market.

Polyvinyl chloride, polypropylene, polyethylene, polystyrene, engineering plastics, high-performance plastics, including PEEK, fluoropolymers, and others materials, including silicones, TPE, and TPU are the most popular types of plastics used in the manufacturing of medical products. These are used in several medical applications such as disposables, medical bags, catheters, syringes, diagnostic instruments, surgical instruments, implants, dental tools, drug delivery devices, medical trays, device housing, lab wares, films, gowns, drapes, etc. Among types, polyvinyl chloride accounted for the largest share of the global medical plastics market in 2016, due to its wide usage in different medical products and low price factor. In addition, its ease of fabrication, manufacturing, and assembly makes PVC a preferred material for manufacturing medical devices, mainly syringes, medical bags, tubes, and catheters.

The medical plastics market has been segmented on the basis of application into disposables, medical bags, catheters, syringes, implants, surgical instruments, diagnostic instruments, dental tools, drug delivery devices, and others. Disposables is estimated to be the largest application segment of the medical plastics market in 2017 and is also expected to grow at a high rate during the forecast period. The disposables segment is driven by factors such as eliminating the effects of cross-contamination and ensuring safety and accuracy. With the increasing trend of self-medication and homecare, the demand for disposable products is increasing, as these products are user-friendly and do not require sterilization.

Asia-Pacific is expected to be the fastest-growing market for medical plastics. The aging population is one of the major factors driving the medical plastics market in the region. The rapidly growing demand for medical plastics in end-use applications, competitive manufacturing costs, and high economic growth rate are the favorable factors driving the market for medical plastics in the region. Furthermore, Japan’s growing medical industry, aging population, rising cosmetic and plastic surgeries in India, increasing cases of cardiovascular diseases, higher domestic demand, availability of raw materials, and cheap labor are driving the Asia-Pacific medical plastics market. The market in Asia-Pacific, owing to the significantly high demand for medical plastics, is much more dynamic and competitive than its western counterparts.

The major challenge for market growth is stringent and time-consuming regulatory policies, waste management concerns, and inadequate training to healthcare staff. Variations in regulations across countries and a time-consuming approval process are restraining the growth of medical plastics market.

Companies such as Lubrizol (U.S.), Ensinger (Germany), Celanese (U.S.), Trinseo (U.S.), BASF (Germany), and Arkema (France) are the major players in the global medical plastics market. These companies have strengthened their market position through diverse product portfolios, strategically positioned R&D centers, consistent strategic development activities, and technological advancements. The companies have been adopting various organic and inorganic growth strategies such as expansions, agreements & joint ventures, and new product launches & developments to increase their market shares.