Market overview:
The global market for medical plastics is estimated to be US$ 22.22 billion in 2018 and is expected to expand at a compound annual rate of 6.1% in 2020-2025.

Medical plastics are a type of polymer used in the health industry. This plastic has excellent flexibility during the manufacturing process, and production costs are also low. Therefore, medical plastic is used as a substitute for titanium metal / stainless steel in medical devices.

Recent developments:
Polyoxymethylene (POM) polymer is ISO and FDA certified for medical use and has obtained extraction, molding, manufacturing, durability and other custom features. The DURACON® PM series from Polyplastics is an advanced medical-grade polymer that is used for medication administration. The demand for medical plastics manufacturers and other end-user industries is growing.

Market Drivers and Restraints:
The increase in the number of insured people, along with the demand for medical devices, is expected to have a positive impact on growth during the forecast period. Strict government standards required that health care providers choose biocompatible, ecological and clean materials to meet the manufacturing, functionality and safety needs associated with medical devices. It also leads the world market of medical plastics as the exports and imports of medical devices increase and the demand for non-reusable and sterilized devices increases.

The main challenge in the medical plastics market is caused by the massive amounts of non-biodegradable waste that is discarded. These medical wastes, which are discarded immediately after use for surgery, bandage and diagnosis, include infectious bacteria and viruses.

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Report Segmented as:
The world market of medical plastics is divided based on types and uses. By type, the market is divided into polypropylene, silicone, engineering plastics, polyethylene and PVC. Depending on the application, the global market is divided into diagnostic instruments, catheters, disposable instruments, implants, surgical instruments, syringes and medication delivery devices.

Geographical Segmentation:
By regions, the world market for medical plastics has been divided into North America, Europe, Asia Pacific, Latin America, the Middle East and Africa. In 2018, North America dominated the world market of medical plastics in terms of imports and volumes. Germany, France and Italy are the important countries in the European market of medical plastics. The demand for medical plastics in the Middle East, Africa and Latin America has been growing at a moderate pace in recent years, which is expected to continue in the near future.

Key market players:
Key players in the global medical plastics market include Du Pont, Becton & Dickinson, Saint-Gobain Performance Plastics, Cyro Industries, Exxon Mobil Corporation, BASF, Dow Chemical, TekniPlex Corporation, Baxter International, Bayer and Alcan Packaging.

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Scope of the report:
The report offers a comprehensive examination of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in influencing the market dynamics and trends discussed in detail at the product level. Further, the performance of the market at the regional and country-level had assessed and the prospects with huge growth potential identified and debated.
The key players in the industry are profiled giving insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategically activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry had provided. The report also provides a broad outlook of the current market along with recommendations from industry experts on the opportunities for investment activity.
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