Albany, NY -- (SBWIRE) -- 12/28/2018 -- Rise in demand for quality and safety of medical devices at a reasonable cost has increased the demand for medical devices in the medical industry. Government regulations has forced healthcare industry to select environmentally-friendly, biocompatible, and clean materials to meet functionality, manufacturability, and safety requirements for medical devices. These requirements pose challenges and restraints on the selected materials during product development for medical instruments and devices. Medical plastics are manufactured from a large number of macromolecules, which are used to manufacture reliable and safe devices in the health care sector. Devices manufactured from medical plastics are durable, flexible, and cost-effective. Performance, quality, and sterility of these devices are important factors that are expected to drive the market during the forecast period. Medical devices manufactured from medical plastics are used in various applications such as surgical instruments, implants, disposables, syringes, diagnostic instruments, drug delivery devices, and catheters.
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Increasing demand for medical devices with high shelf life, rising import and export of medical devices, growing demand for disposable and sterilized devices are some of factors driving the global medical plastics market. Surge in demand for lightweight, cost-effective, medical devices, rise in use of prosthetics, and increase in demand for non-magnetic equipment around heavily magnetized medical equipment such as MRI are other factors driving the global medical plastics market. Medical plastic are extensively utilized in the health care industry. Medical plastics are also used in packaging. Some of the characteristics of medical plastic such as flexibility, protective capabilities turn as a driver for global market of medical plastics.
The global medical plastics market can be segmented based on type, application, and geography. In terms type, the medical plastics market can be categorized into polyvinyl chloride, polypropylene plastics, polystyrene, polyethylene, and silicones. Polyvinyl chloride can be used with different kinds of additives; therefore, it is a considered to be a multipurpose polymer and thus, is appropriate for use in medical plastics. Polyvinyl chloride is extensively used to manufacture Class I medical devices. Medical equipment manufactured by polyvinyl chloride can be sterilized using methods such as radiation, steam, or ethylene oxide. Based on application, the global medical plastics market can be divided into drug delivery devices, disposables, implants, syringes, catheters, diagnostic instruments, and surgical instruments. Medical devices such as hypodermic needles, contact lenses, medical and cleaning gloves, dialysis disposables, disposable enemas, and other medical products have been considered under disposables application segment. Polymers such as polypropylene, polyethylene, silicone hydrogel, epoxy resins, and polystyrene are used to manufacture disposable medical devices.
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In terms of geography, the global medical plastics market can be segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominates the global medical plastics market owing to factors such as technological advancements, availability of sophisticated medical devices, and high awareness regarding health care. Europe accounts for a considerable share of the market due to increasing government support, rising investments for better health care infrastructure, and suring health care expenditure. Growing economies in Asia Pacific such as India and China and increasing demand for high technology medical equipment are projected to create opportunities in the medical plastics market. Establishment of organizations such as Healthcare Plastics Recycling Council (HPRC), help companies or hospitals to dispose plastic effectively and help design recycling guidelines for disposing plastic. This, in turn, helps reduce environmental concerns. This is projected to create opportunities in the global medical plastics market. High recall costs and strict government regulations are two major restraints of the medical plastics market.
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