United State – Global Medical Plastics Market Status, Trends and COVID-19 Impact Report 2021, Covid 19 Outbreak Impact research report added by Report Ocean, is an in-depth analysis of market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends, and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider Medical Plastics market, and compares it with other markets., market definition, regional market opportunity, sales and revenue by region, manufacturing cost analysis, Industrial Chain, market effect factors analysis, Digital Evidence Management market size forecast, market data & Graphs and Statistics, Tables, Bar &Pie Charts, and many more for business intelligence. Get complete Report (Including Full TOC, 100+ Tables & Figures, and Chart). – In-depth Analysis Pre & Post COVID-19 Market Outbreak Impact Analysis & Situation by Region.
The global medical plastics market is expected to reach US$42.7 billion by 2030, the market was valued at US$23 billion in 2019. The market is forecast to grow at a compound annual growth rate (CAGR) of 5.8% during the forecast period from 2022-2030.
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Competitors in the Market, BASF, Celanese, Covestro, Eastman Chemical Company, Evonik, GW Plastics, Inc., Nolato AB, Rochling Group, SABIC, Solvay, Other prominent players
In order to produce a holistic assessment of the market, a variety of factors is considered, including demographics, business cycles, and microeconomic factors specific to the market under study. Medical Plastics Market report 2021 also contains a comprehensive business analysis of the state of the business, which analyzes innovative ways for business growth and describes critical factors such as prime manufacturers, production value, key regions, and growth rate.
The Centers for Medicare and Medicaid Services report that US healthcare expenditures grew by 4.6% to US$ 3.8 trillion in 2019, or US$ 11,582 per person, and accounted for 17.7% of GDP. Also, the federal government accounted for 29.0% of the total health expenditures, followed by households (28.4%). State and local governments accounted for 16.1% of total health care expenditures, while other private revenues accounted for 7.5%.
This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.
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Medical plastics are usually polymeric materials that are resistant to chemicals. Medical plastics are easy to be molded into any shape. Thus, the applications of these plastics in the manufacturing ff devices and equipment make them beneficial and highly adopted. Some of the widely used medical plastics are polycarbonate, polypropylene, and polyethylene.
Factors Influencing
Rapidly growing investments in the healthcare industry are expected to bolster the growth of the global medical plastics market during the analysis period.
Increasing health-related concerns and changing lifestyles would surge the demand for medical plastics in the healthcare industry.
Medical-grade plastics are corrosion-free and free from any chemicals. Their beneficial properties are forecast to amplify the growth of the market during the forecast period. For example, respirator bulbs are made up of vinyl polymers that are chemical resistant. Moreover, the applications of Medical vinyl in the production of chest drainage tubes, endotracheal tubing, and catheters would drive the growth of the global medical plastics market during the analysis period.
Antimicrobial polymers help resist contamination of the medical device contamination. These polymers are highly beneficial in preventing harmful bacteria, algae, and viruses. Thus, the growing concerns over bacterial infection would surge the demand for medical plastics in the upcoming years. The center for Disease and Control (CDC) indicates that the death rate from hospital-borne infections has been increased to around 100,000 annually in the United States. Thus, such factors would propel the adoption of medical plastics.
On the contrary, environmental concerns related to the use of medical plastic are expected to slow down the growth of the global medical plastics market during the analysis period.
Geographic Analysis
Geographically, North America held the maximum share in the global medical plastics market and is anticipated to foster growth in the coming years. The growing number of COVID-19 and other cases is bolstering the growth of the regional market. Apart from that, Europe forecasts to grow with the highest CAGR, as the demand for ventilators, thermal scanners, masks, and other personal protective equipment is increasing in the region.
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COVID-19 Impact Analysis
The demand for medical plastic increased during the COVID-19 pandemic. The infection suddenly spread and affected various countries drastically. As a result, it increased the demand for hospital care and even ventilators. However, the global medical plastic market witnessed a short downfall during the first quarter. The lockdown halted the production activities, which, in turn, affected the growth of the market. Authorities of various countries, including India, the US, Switzerland, and the EU, implied stringent regulations that barred the import and export activities.
Market Segmentation
By Type:
Engineering plastics
High-performance plastics (HPP)
Standard plastics
Silicone
Others (TPE, TPU, Biodegradable Polymers, Synthetic Rubber, and Polymer Blends)
By Application:
Medical disposables
Prosthetics
Medical instruments & tools
Drug delivery
Others (medical trays, sterilization trays, and lab wares)
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By Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
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Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
Key questions answered in the global Medical Plastics market report are:
- How does a global company acquire markets?
- What are its core strategies and policies?
- What factors will influence the Medical Plastics market over the forecast period?
- What are the factors driving and restraining the market for Medical Plastics?
- What are the leading competitors in the global market?
- Which region is growing at a higher pace in the global market?
What is the key information extracted from the report?
Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
The report offers the present scenario and future growth prospects Market in various geographical regions.
The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
The SWOT analysis is conducted along with Porter’s Five Force analysis.
The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.
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