The Asia Pacific Medical Plastics Market would witness market growth of 7.3% CAGR during the forecast period (2023-2030). In the year 2021, the Asia Pacific market's volume surged to 5,865.6 Kilo Tonnes, showcasing a growth of 3.5% (2019-2022).
Medical plastics are also highly versatile and can be tailored to meet specific performance requirements. They can be formulated to have different levels of flexibility and resistance to numerous chemicals and sterilization methods, making them suitable for various medical applications. Additionally, medical plastics can be transparent, allowing for better visibility during surgical procedures or colored for easy identification of different medical devices. The ability of medical plastics to endure sterilization processes, including gamma irradiation, autoclaving, and ethylene oxide treatment, is an additional crucial characteristic. This ensures that medical devices and equipment made from these plastics can be safely sterilized before use, reducing the risk of infection for patients.
Additionally, medical plastics play a crucial role in modern healthcare, offering a wide range of benefits, such as biocompatibility, durability, and flexibility, which make them ideal for various medical applications. One of the key drivers of the medical plastics market is the increasing demand for healthcare services. As populations grow and age, the incidence of chronic diseases rises, leading to a greater demand for medical devices and equipment. Medical plastics are extensively used in manufacturing these devices and equipment, including catheters, syringes, implants, and diagnostic instruments.
Rapid urbanization in the Asia-Pacific region has led to changes in lifestyle and dietary habits, contributing to the rise in chronic diseases. Urban areas often have higher rates of sedentary lifestyles, unhealthy diets, and environmental pollution, all of which are risk factors for chronic diseases. The total incidence of cancer cases reported in the Asia Pacific region, according to Globocan 2020, was 9,503,710. Hence, the medical plastics market will grow rapidly in the region owing to the expanding pharmaceutical industry and the prevalence of chronic diseases.
The China market dominated the Asia Pacific Medical Plastics Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $9,483.4 million by 2030. The Japan market is registering a CAGR of 6.5% during (2023 - 2030). Additionally, The India market would showcase a CAGR of 7.9% during (2023 - 2030).
Free Valuable Insights: The Global Medical Plastics Market is Predict to reach $ 84.4 Billion by 2030, at a CAGR of 7.1%
Based on Application, the market is segmented into Medical Components, Medical Device Packaging, Orthopedic Soft Goods, Wound Care, Cleanroom Supplies, BioPharma Devices, Mobility Aids, Sterilization & Infection Prevention, Tooth Implants, Denture Base Material and Others. Based on Process Technology, the market is segmented into Injection Molding, Extrusion, and Blow Molding & Others. Based on Product, the market is segmented into Polyphenylsulfone (PPSU), Polypropylene (PP), Polycarbonate (PC), Liquid Crystal Polymer (LCP), Polyethersulfone (PES), Polymethyl Methacrylate (PMMA), Polyethylenimine (PEI), Polyethylene (PE), and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Process Technology (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Product (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Country (Volume, Kilo Tonnes, USD Billion, 2019-2030)
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