New York City, 06 February 2019: The Report
Medical Plastics Market is anticipated to
reach over USD 37.5 billion by 2026 according to a new research published by
Polaris Market Research. In 2017, the medical components segment dominated the
global market, in terms of revenue. North America Medical Plastics market is
expected to be the leading contributor to the global market revenue during the
forecast period.
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The growing
applications of plastics in advanced medical devices is expected to support the
growth of the Medical Plastics market. The increasing demand of healthcare
services from the geriatric consumers, and rising home healthcare services and
self-medication boosts the adoption of medical plastics. Other driving factors
include supportive government initiatives for promotion of quality healthcare
services, growing demand for minimally invasive medical procedures, and
technological advancements. However, stringent government regulations and lack
of standardized healthcare regulations globally are expected to restrict the
growth of the Medical Plastics market. Increasing demand from developing
nations, and technological innovation, and growing use of plastics as compared
to metals are expected provide numerous growth opportunities to the market
players during the forecast period.
Competitive Landscape and Key Vendors:
North
America Medical Plastics market generated the highest revenue in the market in
2017, and is expected to lead the global market throughout the forecast period.
The increasing geriatric population in the country coupled with growing
penetration of lifestyle diseases drives the growth of the medical plastics in
the region. Substantial investments in research and development, and supportive
government initiatives further boost the market growth. Asia-Pacific Medical
Plastics market is expected to grow at the highest rate during the forecast
period.
The leading
companies profiled in the Medical Plastics market include E.I. du Pont de
Nemours and Company, HMC Polymers, Specialty Silicone Fabricators, Inc.,
Trinseo S.A., GW Plastics Inc., Eastman Chemical Company, The Dow Chemical
Company, Tekni-Plex Inc., Orthoplastics Ltd., and Saint Gobain Performance
Plastics among others. These companies launch new products and collaborate with
other market leaders to innovate and launch new products to meet the increasing
needs and requirements of consumers.
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