The global medical plastics market is estimated to touch USD 33.6 billion by 2025, according to a report by Grand View Research, Inc. Medical plastic products encompass products or devices derived from synthetic or semi-synthetic materials. Products range from syringes to implant instruments. Plastic resins used to manufacture medical plastics improve their strength and flexibility. Moreover, the low cost of these raw materials has led to the mass manufacture of medical products and devices.
The demand for new medical technologies and increasing geriatric populace are expected to drive the market for medical plastics over the forecast period (2014 to 2025). Development of improved plastics and high demand from pharmaceutical sectors is predicted to further influence market growth. The surplus of raw materials needed for the production of medical devices as well as high demand across Asia Pacific, North America, and Europe is expected to spur market till 2025. However, strict regulations pertaining to plastic material production can act as a market deterrent against market growth.
Various medical plastic manufacturers are undertaking the development of environment-friendly materials and biodegradable polymers to cater to consumer demand for organic materials. This is exemplified by the reusable and disposable insulin pens that are recently manufactured by DuPont. These pens can play an essential role in diabetes management. The products have excellent lubrication and are being used to prevent hospital-acquired infections (HAI).
Full Research Report On Medical Plastics Market Analysis:
U.S. medical plastics market revenue, 2014 – 2025 (USD Million)
Bioresorbable polymers have been used in the medical industry for over two decades with applications in drug-eluting stents, tissue regeneration, and bone augmentation. For instance, Tepha, Inc., a U.S. based manufacturer of medical implants, has introduced a new regenerative scaffold based on its proprietary P4HB technology in November 2017. The medical implant can be beneficial in urogynecology, orthopedics, and structural heart disease. Medical device manufacturers are also partnering up with raw material suppliers to produce new types of thermoplastics to minimize production expenses.
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