The Latin America, Middle East and Africa Medical Plastics Market would witness market growth of 8.6% CAGR during the forecast period (2023-2030). In the year 2026, the LAMEA market's volume is expected to surge to 1,814.1 Kilo Tonnes, showcasing a growth of 8.0% (2023-2030).
Technological developments are one of the major growth drivers in the medical plastics market. Polymer science and material engineering innovations have led to medical plastics with enhanced properties, such as biocompatibility, durability, and flexibility. These advancements have widened the application range of medical plastics, allowing them to be used in various medical devices and equipment. Moreover, the development of biodegradable plastics has revolutionized the field of medical implants, offering a sustainable and environmentally friendly alternative to traditional materials.
Another area where technological advancements have been crucial is developing medical devices for minimally invasive surgery. Medical plastics manufacture devices such as endoscopes, catheters, and surgical instruments, which enable surgeons to perform complex procedures with greater precision and minimal trauma to the patient. These devices have revolutionized the field of surgery, leading to shorter recovery times and reduced risks of complications.
The LAMEA region has experienced significant population growth and increased life expectancy, leading to a larger elderly population, who are susceptible to chronic diseases. According to the National Library of Medicine (NLM), in the Middle East, the prevalence of CVD is high (10.1%). Thus, as the population ages, the demand for these materials is expected to grow, presenting opportunities for growth and innovation in the medical plastics market.
The Brazil market dominated the LAMEA Medical Plastics Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,859.2 million by 2030. The Argentina market is showcasing a CAGR of 9.8% during (2023 - 2030). Additionally, The UAE market would register CAGR of 8.3% during (2023 - 2030).
Free Valuable Insights: The Worldwide Medical Plastics Market is Projected to reach USD 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
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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