Medical Plastics Marketplace Discussed in New M&M Research Study Available at MarketPublishers.com26 Nov 2015 • by Natalie Aster
LONDON – On a global level, the medical plastics market will likely be worth just over USD 6.978 billion by 2020, at a CAGR of 7.12%. The demand in the market is high due to medical plastics’ excusive properties such as tensile strength, superior conductivity, extended life span, and thermal resistance. An upsurge in the demand from the APAC region and the expansion of the application sectors like implants, drug delivery devices, dental tools, surgical instruments, disposable medical devices, syringes, among others, are driving the growth of demand for medical plastics in the worldwide medical marketplace.
Geography-wise, the APAC region is the most rapidly evolving medical plastics market, in value and volume terms alike. Increased economic growth rate, the rise of manufacturing industries, an upsurge in the number of medical plastics patents, cheap labour, and a shift of production capacity and consumption from the developed world to the emerging markets are some of the factors contributing to the growth of the region’s medical plastics sector. China dominates the medical plastics market in Asia-Pacific. China’s consumption of medical plastics has grown significantly and is expected to witness further growth in the near future.
Due to the limited availability of suppliers and large number of buyers worldwide, the market is highly fragmented. Additionally, the growing rivalry amongst the players to obtain the larger quantity of patents for medical plastics-based applications has been responsible for the intensification of competition. MedPlast Inc., Phillips-Medisize Corporation, Parker Hannifin Corporation, Freudenberg Medical, Röchling Engineering Plastics, Nolato AB, West Pharmaceutical Services, Inc., and GW Plastics, amid others, take the lead in the market.
New report “Medical Plastics Market by Type (PVC, PP, Engg Plastics, PE, PS, Silicones & Others), by Application (Implants, Disposables, Drug delivery devices, Syringes, Diagnostic instruments, Surgical instruments, Catheters, & Others) and by Region - Forecast to 2020” elaborated by MarketsandMarkets (M&M) provides an in-depth assessment of the global medical plastics market, segmented by type, application, and region; providing value and volume estimates for each market segment along with market size forecasts to 2020. Keen insights into key drivers and hindrances, major industry trends, challenges and arising opportunities for the players are provided. The study canvasses the competitive scenario, besides presenting detailed company profiles and the various organic and inorganic developmental strategies adopted by these market leaders.
Medical Plastics Market by Type (PVC, PP, Engg Plastics, PE, PS, Silicones & Others), by Application (Implants, Disposables, Drug delivery devices, Syringes, Diagnostic instruments, Surgical instruments, Catheters, & Others) and by Region - Forecast to 2020
Published: November, 2015
Price: US$ 4,650.00
More studies by the publisher can be found at M&M page.