Asia Pacific is fastest growing market for medical plastics

The demand for medical plastics is growing, according to a report by MarketsandMarkets. The study expects  global medical plastics market to reach $6.978 billion by 2020, growing annually by 7.12% from 2015 to 2020. 

The high demand for  medical plastics is attributed to their excellent conductivity, tensile strength, long life span, and thermal stability. 

 

The Asia-Pacific region is the fastest-growing market of medical plastics, in terms of value and volume. The region's high economic growth, expandingmanufacturing industries, lower production costs, increasing medical plastics patents, and favorable consumption and production patterns are some of the important factors that contribute to the growth of medical plastics in this region.

 

China remains the biggest medical plastics market in Asia-Pacific. The country's consumption of medical plastics has increased significantly and further growth is anticipated in the next few years. China has a growing middle class and aging population, and with rising purchasing power and improvement in the standard of living, demand for medical devices, technology upgrade in hospitals, and development of better quality medical products are driving medical plastics market.  

 

 

Asia-Pacific also accounts for increasing application sectors such as implants, dental tools, drug delivery devices, surgical instruments, syringes, disposable medical devices and so on, thus  making this region an important player in the global medical market. Medical plastics are being used as the preferred substitute for traditional glass and metal instruments by major medical device manufacturers and suppliers globally.

 

Implants and disposable medical devices are the main application market for medical plastics. Polymers such as polyethylene, polyurethane, PET, PMMA, hydrogels, fluropolymers, and polycarbonate are used in manufacturing of implants. The use of polymers in temporary and permanent implants is rapidly growing.