Europe Medical Plastic Market Segments and Growth by 2027

The Europe Medical plastic market was valued at US$ 6,434.3 million in 2019 and is projected to reach US$ 11,792.8 million by 2027; it is expected to grow at a CAGR of 7.9% during the forecast period 2020-2027.

Medical plastics are made from a huge number of macromolecules, which are utilized to produce consistent and safe instruments in the healthcare industry. They are remarkably long-lasting, supple, and economical. The performance, sterility, and quality of these tools is a major factor for market expansion. Medical plastics find a broad range of applications in diagnostic instruments, implants, disposables, drug delivery devices, surgical instruments, syringes, and catheters. The global population is projected to increase in the coming years.

Germany contributed to the largest share of the Europe medical plastic market. Germany is among the largest producers and consumers of medical plastic in Europe. The production and innovation of medical plastic applications have consistently risen for a decade. A recent study showed that innovation in drug delivery has been accelerating across Europe, especially in Germany. The research has successfully proved that there has been an average innovation increase of 4% in Germany. The increasing demand from the drug delivery application coupled with other applications such as medical disposables, prosthetics, and medical instruments and tools amongst others has further fuelled the growth of the market.

Impact of COVID-19 Pandemic on Medical plastic Market

In Europe, Italy is the hardest-hit country by the COVID-19 outbreak. It is expected to suffer an economic hit due to a lack of revenue from various industries, as Italy recorded the highest number of COVID-19 cases. Other member states have implemented drastic measures and travel restrictions, including partially closing their borders. This is anticipated to impact market growth in Europe.

Europe Medical plastic Market

Market Insights

Advantages of Using Medical plastic

Medical plastics are made from a huge number of macromolecules, which are utilized to produce consistent and safe instruments in the healthcare industry. They are remarkably long-lasting, supple, and economical. The performance, sterility, and quality of these tools is a major factor for market expansion. Medical plastics find a broad range of applications in diagnostic instruments, implants, disposables, drug delivery devices, surgical instruments, syringes, and catheters. The global population is projected to increase in the coming years.

Type-Based Market Insights

Based on type, the Medical plastic market is segmented into standard plastics, engineering, plastics, high performance plastic (HPP), silicone, and others. The standard plastic segment accounted for the largest share of the Europe Medical plastic market in 2019. Polyvinyl chloride, polyolefin, polyethylene, polypropylene, polystyrene, and poly(methyl methacrylate) are some of the types considered under standard plastic segment. These materials must be processed and manufactured under a physician’s license to pass validation requirements and verification of the regulatory agencies. From test equipment such as beakers and vials to catheters, surgical instruments and implants, plastics are used more and more for their lightweight, high performance and lower costs. Among others, polyethylene is considered durable and versatile thermoplastic. Polyethylene have high impact resistance and is also resistance to chemicals, coupled with low moisture absorption make it a material medical grade plastic. Polyethylene doesn’t retain dangerous bacteria and have ability to withstand harsh cleaning agents. Moreover, polyethylene often utilized for medical implants owing to porous synthetic polymer property that is biologically inert and does not degrade in the body

Europe Medical plastic Market, by Product Type – 2019 and 2027

Application Market Insights

Based on application, the Medical plastic market is segmented into confectionery & bakery, jams & preserves, fruit- based beverages, dairy, and others. In 2019, the confectionery & bakery segment accounted for the largest share of the Europe Medical plastic market; however, the berries segment is expected to register the fastest CAGR during the forecast period. Medical plastic are extensively used in confectionery and bakery items for topping, adding flavors, decorations, and many more. Moreover, these fruits are available all year round, convenient, and retain flavors and nutrients, which will further boost the demand for Medical plastic. Most bakers like to bake their peaches with frozen fruit because it eliminates a few steps in the way.

Technique Market Insights

Based on technique, the Medical plastic market is segmented into medical disposables, prosthetics, medical instruments and tools, drug delivery, and others. In 2019, the medical instruments and tools segment accounted for the largest share of the Europe Medical plastic market. Plastics have been used extensively to create medical tools and medical instruments such as syringes, surgical gloves, insulin pens, catheters, IV tubes, inflatable splits, etc. Such products are manufactured for one-time use and help avoid the spread of dangerous diseases by eliminating the need to re-use or sterilize a device. Plastic is also being used to create superior antimicrobial touch surfaces which can repeal microbes and other bacteria, thus decreasing the spread of dangerous diseases. Disposable plastic syringes, new heart valves, blood bags and other medical devices are some of the several ways plastics have been utilized. Moreover, high-purity plastics are utilized in medical devices including surgical instruments, dental instruments, anesthetic, diagnostic, endoscopic probes and imaging equipment. Owing to their unique properties, certain plastics are better suited for medical applications where sterilization and safety are imperative. The overall demand for medical plastic for tools and medical instrument is expected to increase over forecast period due to safety, cost-effectiveness and efficiency.

Report Spotlights

• Progressive industry trends in the Europe Medical plastic market that help players develop effective long-term strategies
• Business growth strategies adopted by developed and developing markets
• Quantitative analysis of the Europe Medical plastic market from 2018 to 2027
• Estimation of Europe Medical plastic demand across various industries
• PEST analysis to illustrate the efficacy of buyers and suppliers operating in the industry to predict market growth
• Recent developments to understand the market competition in Europe
• Market trends and outlook, coupled with factors driving and restraining the growth of the Europe Medical plastic market
• Decision-making process by understanding strategies that underpin commercial interest with regard to the Europe Medical plastic market growth
• Europe Medical plastic market size at various nodes of market
• Detailed overview and segmentation of the Europe Medical plastic market, as well as its dynamics in the industry
• Europe Medical plastic market size in various regions with promising growth opportunities

Medical plastic Market – By Type

• Standard Plastic
• Engineering Plastic
• High Performance Plastic (HPP)
• Silicone
• Others

By Application

• Medical Disposables
• Prosthetics
• Medical Instruments and Tools
• Drug Delivery
• Others

Company Profiles

• Celanese Corporation
• Eastman chemical company
• GW Plastics
• Orthoplastics Limited
• Aran Biomedical
• Rochling
• SABIC
• Saint-Gobain
• Solvay
• Dow

Europe Medical Plastic Report Scope