Global medical plastics market on course to hit $24.81 billion by 2022

The use of plastic in medical devices is evolving with new types of medical devices, advances in polymer technology, and legislative and regulatory changes.

According to a new report, Medical Plastics: Global Markets to 2022, BCC Research estimates the global medical plastics market will grow at a compound annual growth rate (CAGR) of 6.2% to reach $18.44 billion (£13.6 billion) and $24.81 billion (£18.3 billion) in 2017 and 2022, respectively.

This report analyses the evolving medical plastics space. Long-term trends in the global healthcare industry will continue to push market growth. The movement of healthcare activities to less-costly locations, such as outpatient clinics and homes, has increased the need for lighter materials, especially for housings. The growth of minimally invasive medical devices to minimize trauma, operating and recovery times also has increased the need for housings for medical devices, as well as for lighter, easily designed and non-corrosive materials such as plastics.

Highlights

• The US accounted for nearly 40% of global consumption of medical plastics in 2016.
• This report analyzes major resins such as polyvinyl chloride (PVC), high density polyethylene (HDPE), low density polyethylene, linear low-density polyethylene (LDPPE/LLDPE), high impact polystyrene (HIPS), acrylonitrile butadiene styrene (ABS), polyesters, polycarbonates, acrylics, and TPEs.
• Commodity thermoplastics dominate the global market with about 60% of total volume.