The Tamesis
It is likely to be the fastest growing market due to healthcare investments in the region, rise in medical tourism, etc.
According to Verified Market Research, the global plastics market size is expected to reach US$44.66b by 2032, and the Asia-Pacific region is expected to become the fastest growing market for medical plastics.
Expanding healthcare investments, growing medical tourism and cost-effective manufacturing hubs in China, India, Japan and South Korea will drive growth in the region, the report added.
Globally, rising healthcare spending, increasing demand for disposable medical devices and rapid adoption of advanced polymer materials will drive market demand, the research firm said.
Expanding healthcare infrastructure and strict health standards are expected to further support growth.
However, raw material price fluctuations, regulatory compliance complexities, and environmental concerns related to plastic waste may limit the company’s forecast market expansion of medical plastics during the period 2026 to 2032.
Verified Market Research says medical-grade plastics are cost-effective, design flexible and meet strict sterilization standards, making them ideal for syringes, catheters, IV components and diagnostic tools.
The market size is expected to register a compound annual growth rate (CAGR) of 6.60% during the forecast period, it added.
North America dominates the global medical plastics market, while Latin America, the Middle East, and Africa show steady growth.
The top companies in the market include Röchling SE & Co. KG; Norato AB; Saint-Gobain; Sabic; Orthopedic Plastics Ltd; Eastman Chemical Company; Celanese Corporation; Dow Corporation; Tekni-Plex Corporation; Solvay; and HMC Polymers Ltd.
The market size in 2024 is $26.78b.
