U.S. Medical Plastic Market Outlook, Growth Trends, Key Actors, Competitive Strategies and Forecasts Until 2030 – TMR

Research analysts at Transparency Market Research predict that the U.S. medical plastic market will grow at a stellar CAGR of 9% over the forecast period of 2020 to 2030. They also project that the U.S. medical plastic market will reach the evaluation of US$ 30 billion by the end of the forecast period i.e. 2030. Surging demand for disposable medical devices such as disposable intravenous (IV) tubes is anticipated to emerge as one of the leading drivers for the U.S. medical plastic market in 2020 to 2030. Low cost, high durability, breathability, biocompatibility, lower weights, chemical resistance, and sterilization capability of medical grade plastics are key factors favoring the development of the U.S. medical plastic market.

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Polypropylene Segment in U.S. Medical Plastic Market to Expand Rapidly in the Near Future

Segments in the U.S. medical plastic market based by the type of product includes polyvinyl chloride, polypropylene, engineering plastics, biodegradable plastic, polylactic acid, polyethylene, polystyrene, silicone, and polycarbonates. Polyvinyl chloride segment dominated the U.S. medical plastic market in 2019. Excellent properties of polyvinyl chloride, such as lightweight, toughness, abrasion resistance, and excellent mechanical strength makes it a lucrative commodity in U.S. medical plastic market, especially for the production of disposable medical devices. Polypropylene (PP) segment is anticipated to expand at a high rate in the U.S. medical plastic market in coming years owing to high resistance of PP to acids, electrolytes, cracking, and organic solvents. Polypropylene is used to make vials, diagnostic devices, specimen bottles, intravenous bottles, and pill containers.

The COVID-19 pandemic resulted in increased consumption of medical equipment and most prominently medical grade protective gear. Most of these products were made using the materials from U.S. medical plastic market. High demand for medical disposables such as gowns, shoe covers, gloves, respirators, masks, and medical bags was witnessed during the pandemic. This has favored the development of the U.S. medical plastic market in the past couple of years. Increasing cases of COVID-19 in the United States are also anticipated to create ample opportunities for the expansion of the U.S. medical plastic market in near future.

Products in the U.S. medical plastic market are used to manufacture a wide variety of medical products and equipment such as dental tools, drug delivery devices, medical bags, surgical tools, catheters and syringes, diagnostic instruments, and implants, among others. Products in the U.S. medical plastic market display superior flexibility during the fabrication processes and possess desirable qualities such as bio compatibility, low cost of manufacturing, and lightweight nature. These qualities make them excellent for usage in medical devices where traditionally metals were being utilized.

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Increasing Usage of 3D Printing Creates Opportunities in U.S. Medical Plastic Market

Increasing innovations in 3D printing technologies aimed at manufacturing of patient specific orthotic braces as well as prosthetic limbs are also anticipated to create new and lucrative opportunities in the U.S. medical plastic market in coming years. Rising penetration of medical 3D printing in production of personal protective equipment owing to rising number of COVID-19 cases around the country are expected fuel growth in the U.S. medical plastic market in near future. By combining products in the U.S. medical plastic market and 3D printing technologies, many specific products can be manufactured, such as knee, ankle, hips, spine, and skull implants and sterile instruments like hemostats, clamps, forceps, and scalpel handles.

Segments in the U.S. medical plastic market classified by processing technology include extrusion, blow molding, rotational molding, injection molding, and compression molding. Extrusion segment dominated the U.S. medical plastic market in 2019 owing to economically viable nature of the processing as opposed to others. Application areas for the products in the U.S. medical plastic market include disposables, surgical instruments, drug delivery devices, medical manikins, diagnostic instruments, prosthetics, and PVC coated mattress covers.

The U.S. medical plastic market is highly competitive, with large number of players dominating the commercial landscape. Key incumbent players operating within the U.S. medical plastic market include Exxon Mobil Corporation, Chemical Company, Arkema S.A., REPSOL S.A., Lotte Chemical Corporation, DuPont de Nemours, Inc., Eastman, Celanese Corporation, Trinseo S.A., Covestro AG, and Tekni-Plex, Inc.

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