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Global Medical Plastics Market to Exceed 10 Billion Pounds by 2015

News Source:http://www.jinchemical.com/ ; SendDate:2010-7-8 14:04:22 
San Jose, Jul 06-Plastics currently form one of the most important components of the medical industry. Medical device designers and engineers increasingly prefer plastics to conventional packaging materials such as metals owing to superior flexibility offered by plastics in fabrication process. Advancements in sterilization techniques, shift towards disposable devices, development of enhanced plastic materials, and technological innovations are factors driving the overall market growth and expansion. The development of novel materials such as biocompatible polymers for use in medical implants will furthermore provide the required impetus for the global medical plastics market.

The United States represents the single largest market for medical plastics worldwide, as stated by a new report on Medical Plastics (http://www.strategyr.com/Medical_Plastics_Market_Report.asp). The medical plastics market is projected to grow rapidly in the near future, particularly in developing countries such as Asia-Pacific and Latin America, driven by a gradual increase in demand for sophisticated medical devices, and enhanced medical care. Asia-Pacific constitutes the fastest growing market for medical plastics in the world.

The most commonly used materials in medical devices include polyvinyl chloride (http://www.strategyr.com/Medical_Plastics_Market_Report.asp) (PVC); polyethylene (PE); polystyrene; polypropylene (PP) and polydimethyl terephthalate (PET). PVC, owing to its outstanding softness finds increased use in medical devices. However, owing to toxicity issues of polyvinyl chloride, benefits of other materials, including polypropylene and polyethylene were explored. Though polyvinyl chloride (PVC) would continue to dominate the non-invasive medical products and standard medical packaging markets, the future is likely to witness increased use of polypropylene and polyethylene. In terms of end-use segments, medical product components represent the largest and the fastest growing end-use segment as compared to medical packaging

Key Players profiled in the report include Alcan Packaging, Amcor Ltd., BASF SE, Bayer AG, Celanese Corp., CYRO Industries, Dow Chemical, Du Pont, Eastman Chemical Company, Evonik Cyro LLC, Exxon Mobil Corp., SABIC Innovative Plastics Holding BV, Saint-Gobain Performance Plastics Corp, and Tekni-Plex Inc . The report titled "Medical Plastics: A Global Strategic Business Report" announced by Global Industry Analysts Inc., provides a review of medical plastics industry, market trends, growth drivers, product introductions, strategic corporate developments, and coverage on major market participants. The study analyzes market data and analytics in terms of volume sales for countries, including The United States, Canada, Japan, Europe, Asia-Pacific (excluding Japan), Latin America, and Rest of World. The market is analyzed by the following product segments - Commodity Resins, Engineered Resins, and Other Resins. End-use segments analyzed include Medical Product Components and Medical Packaging.
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