NEW YORK, Dec. 26, 2017 /PRNewswire/ -- The global market for medical plastics is estimated to reach 18.3 billion pounds in 2022 from 13.6 billion pounds in 2017 at a compound annual growth rate (CAGR) of 6.2% for 2017-2022.
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• Commodity thermoplastics market is expected to grow from 8.1 billion pounds in 2017 to nearly 10.9 billion pounds in 2022 at a CAGR of 6.0% from 2017 through 2022.
• Thermosets market is expected to grow from 972.8 billion pounds in 2017 to nearly 1.4 billion pounds in 2022 at a CAGR of 7.0% from 2017 through 2022.
Chapter 1: Introduction
Study Goals and Objectives
This study is a revised version of an earlier BCC Research study published in February 2017. Its goal is to provide an up-to-date analysis of current and future markets for medical plastics, excluding medical packaging.
Reasons for Doing This Study
Plastics usage in medical devices is continuously evolving, with the introduction of new types of medical devices, advances in polymer technology, and legislative and regulatory changes. Plastics producers involved in the medical market need to keep abreast of these changes in order to remain competitive.
Scope of Report
This report will initially cover the medical device industry, itself, and industry and market information will be updated, and definitive and detailed estimates and forecasts of the global market will be provided, followed by a detailed analysis of the key resins used to make these devices.
The ever-changing face of the medical device industry; new types of medical devices legislative, regulatory and environmental issues; new products and technologies related to medical devices, sterilization techniques and impact on polymer selection; polymer usage in medical devices; status of PVC; and medical plastic's product lines and trade-named products along with the recent introduction of three-dimensional (3D) printing are some of the topics that are covered.
As mentioned above, medical packaging applications per se are not covered in this report. However, several types of medical devices, such as syringes, trays, tubing and kits, that are widely considered to be an integral part of the medical packaging market are covered in the report.
An extensive review was undertaken of trade and technical literature on plastics used in medical devices, including coverage of recent conferences and meetings by trade associations. Following the collection and analysis of this data, polymer producers, compounders, medical device manufacturers and others were contacted for additional input.
Following collection and analysis of information from the literature review, unresolved issues were resolved from other sources, with input from producers, suppliers and fabricators of rigid transparent plastics. Additional details concerning BCC Research's analytical methodology are provided in the context of the market projections in Chapters 10–18.
Medical Plastics, by Type
Polymer Alloys and Blends
Biopolymers and Biodegradable Polymers
Medical Plastics, by Application
Testing and Diagnostic Equipment
Prostheses and Implants
Chapter 2: Summary and Highlights
The global medical plastics market reached about 12.8 billion pounds in 2016 and will grow at an annual rate of over 6.2%, consuming approximately 13.6 billion pounds in 2017, and over 18.3 billion pounds in 2022, as shown in the following table. The U.S. accounted for nearly REDACTED of global consumption of medical plastics in 2016; other major markets included the European Union (EU), China and Japan.
Commodity thermoplastics dominate the global market with around REDACTED of total volume. Growth rates are fairly similar, ranging from REDACTED to REDACTED for the major resin types due to a variety of trade-offsbased on property requirements, pricing, and environmental and regulatory issues. However, there areimportant considerations that can affect plastics choices for medical devices.
The specific major resins covered in this report include: polyvinyl chloride (PVC), high density polyethylene (HDPE), low density polyethylene, linear low-density polyethylene (LDPPE/LLDPE), high impact polystyrene (HIPS), acrylonitrile butadiene styrene (ABS), polyesters, polycarbonates, acrylics, and TPEs among others.
In this report the medical plastic market is segmented into disposable- and nondisposable-type products. Disposable products include: medical bags, syringes, kits, labware, tubing, catheter and intravenous (IV) units, gloves, trays, and utensils, among others. Major nondisposable markets include: testing and diagnostic equipment, surgical instruments or related equipment, prostheses and implants, and dental and ophthalmic materials.
There are hundreds of companies that convert resins into medical devices derived from resin manufacturers or plastic compounders. Some of these firms specialize in one or two product areas; others supply a wide variety of products. Regulatory bodies, such as the U.S. Food and Drug Administration (FDA), exercise enormous control since new devices must have approval before they can be introduced into the marketplace, which is a costly and time-consuming process.
There are many conflicting and critical issues confronting the industry that will significantly affect its growth and demand for plastic products.
Some of the more important issues include:
- Increased usage of disposable medical products, especially single-use versions; most everything needed for surgeries is being packaged and placed in kits, which is usually a disposal item.
- Ever-changing government regulations.
- Evolving sterilization technologies.
- Minimizing invasive medical procedures.
- More sophisticated drug delivery systems.
- Shifts in the way healthcare costs are paid, such as the implementation of the Affordable Care Act in the U.S.
- Trend toward defensive medicine, primarily due to increased liability lawsuits.
- Advent of larger and larger purchasing and marketing groups.
- Increase in contract manufacturing.
- An aging population in most of the major markets, with the concomitant increase of acute and chronic conditions and patient activity.
- Increases in the number of patients receiving home healthcare and treatment.
- New technologies, most recent of which include diagnostic imaging and laser surgery, along with polymers with improved biocompatible properties.
- Continued drive toward industry cost containment policies.
- Increasing environmental pressures, such as PVC and latex usage, along with more emphasis on PVC alternatives.
- Increase in offshore production of plastic medical devices along with its concomitant problems.
- Increase in medical device company mergers and acquisitions, resulting in a higher concentration of the business in the hands of fewer companies with obvious ramifications.
- Shift toward disposable rather than nondisposable medical devices.
- Increased use of biocompatible devices for implants and or prostheses.
- Consolidation of hospitals, resulting in high volumes of medical device purchases to one location.
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