Medical Plastics Market

The medical industry world over has been benefitting from the wide range of devices, equipment, and implants made with high performance plastics. Sellers and manufacturers in the global medical plastics market are reaping revenue gains by leveraging the versatility, safety, and cost-effectiveness of medical-grade plastics in these applications. In addition, the freedom that medical grade plastics offer to fabricators has helped bolster their application, underpinning the evolution of the medical grade plastics market, notes Transparency Market Research (TMR).

Manufacturers over the recent decade have been increasingly adopting high technology polymers in making devices that will be used for various stages in disease management and surgeries. Unique set of characteristics of plastics have enabled manufacturers in medical plastics market replace titanium/stainless steel metals with plastics, such as in medical tubing.

The global medical plastics market is projected to clock a CAGR of 7.2% from 2019 to 2027 and reach valuation of US$15.4 bn by the end of the period.