Covid-19 Impact On Medical Plastics - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Covid-19 Impact on Medical Plastics Market is accounted for $20.76 billion in 2019 and is expected to reach $83.49 billion by 2027 growing at a CAGR of 19.0% during the forecast period. Rising awareness & concern about health & personal hygiene and increasing demand for medical plastics from the healthcare industry are the major factors propelling the growth of the market. However, maintaining supply chain & logistics and restricting counterfeit products are hampering the growth of the market.
Increased demand due to COVID-19 for medical plastics such as PP, PE, and PC, among others, from OEMs, medical disposables, and medical device/equipment manufacturers for construction of critical care systems and disposables such as ventilators, thermal scanners, respirators, gloves, masks, and so on is propelling the market. In some cases, there have even been intense price increases owing to the shortage of products. The rise in cost, in turn, casts doubt on the investments achieved by outsourcing production.
Based on the application, the medical disposables segment is going to have a lucrative growth during the forecast period owing to increased use of these medical products in procedural applications and general check-up. Besides, the use of these disposables as instructed by various agencies, such as USFDA and Europe EMA, are driving the demand for medical plastics globally. Increased demand for disposables such as gloves, masks, gowns, and other PPEs will impel the market during this pandemic.
By geography, Asia Pacific is anticipated to hold considerable market share during the forecast period due to the large medical device manufacturing base and increased requirement of PPEs in the region. Also, the region has immense growth potential driven by the increasing demand for a better healthcare system. Across these economies, local governments are reforming the system in fields such as IT integration, advanced materials, and others in the healthcare industry to augment the effectiveness and efficiency of medical devices and related healthcare services in this emergency period.
Some of the key players profiled in the Covid-19 Impact on Medical Plastics Market include Sumitomo Chemical, Dow, BASF, Celanese, DuPont, Arkema, Sinopec, Eastman, Covestro, Solvay, Formosa Plastic, Evonik, Kraton, SABIC, and Lubrizol.
• Standard Plastics
• Engineering Plastics
• Polyether Ether Ketone (PEEK)
• Thermoplastic Elastomers (TPE)
• Thermoplastic Polyurethane (TPU)
• Polytetrafluoroethylene (PTFE)
• Medical Disposables
• Medical Instruments & Tools
• Drug Delivery
• Medical Trays
• Sterilization Trays
• Lab Wares
• Dental Tools
• Incubation & Autoclaves
• Catheters & Syringes
• Breathing Masks
• Denture Base Material
Process Technologies Covered:
• Blow Molding
• Compression Molding
• Injection Molding
• Rotational Molding
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2018, 2019 2020, 2024, and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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