Country-Niche Players and Regional Players constitute ~50% and ~45% of market presence respectively Despite the Presence of about ~300 Competitors, find a Recent Market Study on Global Medical Plastics Market.
Plastics made specifically for use in medical products are referred to as medical-grade plastics. Additionally, it is employed in the production of in vitro diagnostic devices and pharmaceutical packaging, which protects and contains medications to prevent tampering. Medical plastics are steadily replacing other materials used in the healthcare industry such as glass, ceramics, and metals. It becomes extremely essential for the manufacturers to meet the required standards and regulations along with maintaining the varying characteristics and properties of the medical-grade polymers.
Ken Research shares 3 key insights on this high-opportunity market from its latest research study.
Large Global Players Hold Around 45% of the Market Share Followed by Regional Players Holding ~30% of the Market Share
A comprehensive competitive analysis conducted during the Research Study found that the Global Medical Plastics Market is competitive with ~300 players which include globally diversified players, and regional players, as well as a large number of country-niche players.
According to the research, the Large Global Players held the dominant position in the market in 2021, in terms of the market share with about ~45% followed by regional players which account for ~30% of the market share. The global manufacturers of medical-grade plastics highly focus on product enhancement and the inclusion of new manufacturing technologies to increase the productivity and efficiency of products. During the COVID-19 pandemic, the medical plastic manufacturers had to improve their operational capacity and thus were also involved in the betterment of their distribution network by teaming up with local material suppliers.
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Players are Increasingly Investing in the Medical Plastics which is Promoting the Market Growth.
To expand their regional footprint and improve their product offering, these top players are adopting mergers and acquisitions, new product development, and expansion to address the rising demand for Medical Plastics in emerging economies.
Not just key players but also emerging players are expanding in the Medical Plastics industry and are also investing in strategies like collaborations and technological development to compete in the industry.
- In November 2020, GW Plstics Inc., declared its merger with Nolato Group. With considerable volumes and resources, mostly in the Medical Solutions business sector, GW Plastics, now known as Nolato GW, gives Nolato a strong foothold on the North American continent.
- In November 2021, Arkema unveiled a brand-new sophisticated bio-circular medical polymer for the production of surgical instruments and plastics for medical devices. These bio-based, recyclable polymers are manufactured using Arkema's patented amino 11 chemistry from castor bean oil, a sustainable resource.
Increased Adoption of Medical Plastics in Various Parts of the World leading to Major Industry-Wide Developments, Acquisitions, and Deal-Wins
- In August 2019, Kohlberg & Co. LLC declared the acquisition of Bemis Healthcare Packaging Europe from Amcor's Flexible Packaging business. Furthermore, it will be merged with Nelipak Corp. The acquisition summed up to US$ 394 million for the three plants that offer flexible packaging to healthcare OEMs.
- In January 2020, Covestro AG, for use in drug delivery and surgical instruments for patients and medical personnel, introduced two types of polycarbonates of a medical grade. The products include Makrolon M402 LF, Makrolon M204 LF, and Makrolon M404 LF, which lower coefficients of friction and provide dimensional and mechanical qualities without the need for additional lubricants.
- In April 2022, according to Solvay’s sustainability effort that it started with Mitsubishi Chemical Advanced Materials, the company’s medical equipment built with Udel high-performance polysulfone (PSU) thermoplastic will be recycled when it has served its purpose (MCAM). To develop a strong recycling strategy that would provide customers with materials that fully comply with all standards, the project is anticipated to combine MCAM's expertise in washing and mechanically purifying the material with Solvay's capacity to assess the chemistry of the end-of-life polymer.
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Key Topics Covered in the Report: -
Snapshot of the Global Medical Plastics Market
Industry Value Chain and Ecosystem Analysis
Market size and Segmentation of the Global Medical Plastics Market
Historic Growth of the Overall Global Medical Plastics Market and Segments
Competition Scenario of the Market and Key Developments of Competitors
Porter’s 5 Forces Analysis of the Global Medical Plastics Market
Overview, Product Offerings, and SWOT Analysis of Key Competitors
COVID-19 Impact on the Overall Global Medical Plastics Market
Future Market Forecast and Growth Rates of the Total Global Medical Plastics Market and by Segments
Market Size of Product / Application Segments with Historical CAGR and Future Forecasts
Analysis of the Medical Plastics Market in Major Regions
Major Production / Consumption Hubs in the Major Regions
Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
Overview of Notable Emerging Competitor Companies within Each Major Country
Major Players Mentioned in the report
Evonik Industries AG
Solvay S.A.
Dow
Eastman Chemical Company
Röchling Group
DuPont de Nemours Inc.
BASF SE
Celanese Corporation
Mitsubishi Chemical Corporation
Nolato AB
Saint-Gobain Performance Plastics
Notable Emerging Companies Mentioned in the Report
Minnesota Rubber & Plastics
Advantech Plastics, LLC
Industrial Plastic Supply, Inc.
Somerset Plastics Co., Inc.
Total Plastics, Inc.
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Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report
Medical Machine and Equipment Manufacturers
Plastics Manufacturers
Laboratory Equipment Dealers
Healthcare Products Manufacturers
Medical Device Packaging Manufacturers
Plastics Chemical Manufacturers
Organic Polymers Manufacturers
Implant Packaging Manufacturers
Medical Soft Goods Manufacturers
BioPharm Devices Manufacturers
Government Healthcare Departments
Environmental Protection Regulators
Chemical Products Suppliers
Time Period Captured in the Report
Historical Period: 2017-2021
Forecast Period: 2022E-2028F
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