Market Overview
The
Global Medical Plastics Extrusion Market is expected to reach a value of
USD 874.9 million in 2023, and it is further anticipated to reach a market value of
USD 1,296.5 million by 2032 at a
CAGR of 4.5%.
Plastics, a form of polymer, showcases versatility in being molded into diverse shapes. In medical applications, thermoplastic compounds are prevalent, as they can be easily molded when heated & possess resistance to heat &chemicals. Mainly used medical plastics like polycarbonate, polypropylene, & polyethylene, instrumental in producing medical devices like tubing.
The extrusion process, where plastics transition between solid & liquid states, plays a vital role in building
medical elements, mainly tubing, through medical plastics extrusion, which is crucial in the medical device industry, crafting components like catheters, IV tubing, and needle caps with specialized performance characteristics from materials like PVC, polyurethanes, and silicone.
Key Takeaways
- By Product, Medical tubing leads in 2024 & is anticipated to dominate throughout the forecasted period.
- In addition, Polyethylene material is expected to have significant growth over the forecasted period.
- By Application, Hospital takes the lead & drives the market in 2024.
- Asia Pacific has a 41.4% share of revenue in the Global Medical Plastics Extrusion Market in 2024.
Market Dynamic
The Global Medical Plastics Extrusion Market is majorly fueled by significant developments in medical plastic extrusion technology & the influx of new local and potential market players, which further propels market growth.
Also, increased investments in the
healthcare sector, along with a high demand for extruded plastic products, contribute to the market's growth trajectory. Further, government initiatives supporting technology adoption in medical plastic extrusion manufacturing are expected to improve market growth. As a result, manufacturers are also investing in next-generation materials such as
Biopharma Plastics and Biodegradable Plastics to meet regulatory demands and sustainability goals.
However, certain challenges hinder the growth of the market like the significant initial equipment costs & competition from alternative plastic processing methods like injection molding. Despite these obstacles, ongoing technological & design development provides new opportunities for market expansion in the coming future.
Research Scope and Analysis
By Type
Categorizing by type, the market is segmented into medical tubing and other components, where medical tubing not only takes the lead in 2024 but is also anticipated to experience the most significant growth in the forecasted period, which is primarily driven by the increase in utilization of catheters, a growing demand for intravenous medication delivery systems, & the inherent flexibility of medical tubing.
The versatility of medical tubing makes it a major segment, particularly in the context of catheter applications & intravenous medication administration, contributing to its dominant position in the market, which highlights the pivotal role of medical tubing in meeting the evolving needs of medical procedures & therapies, highlighting its widespread adoption and anticipated growth in the coming future.
By Material
In 2024, the polyethylene category emerged as the primary revenue contributor & is expected to maintain consistent growth throughout the forecast period, as the prominence of polyethylene extrusion can be due to its unique characteristics, distinguishing it from other types of extruded
plastics. Polyethylene showcases exceptional toughness, translucency, a low coefficient of friction, & strong chemical resistance.
These distinctive qualities not only set polyethylene apart but also play a vital role in driving the segment's expansion within the global market. Further, the durability & versatile nature of polyethylene extrusion make it a preferred choice, contributing to its major market share & indicating sustained growth prospects as industries continue to value its reliable & advantageous properties for various applications.
By Application
In terms of application, the market is divided into hospitals, clinics, & other categories. In 2023, hospitals take the lead, and they are expected to experience the most significant growth in the forecasted period, which is due to the superior quality of service provided by hospitals, as the increasing need for needle & syringe caps, the convenience of cleaning, and the expanding use of complex plastics.
Hospitals stand out due to their commitment to delivering top-notch healthcare services, & the growing demand for accessories like needle & syringe caps further drives their market dominance. Moreover, the ease of maintenance & the growing dependency on extruded plastics contribute to hospitals emerging as the main driver of market expansion, showcasing their pivotal role in the evolving landscape of medical applications. Environmentally conscious hospitals are also starting to adopt
Biodegradable Plastics for certain disposable components, reinforcing their role in sustainable healthcare practices.
The Medical Plastics Extrusion Market Report is segmented on the basis of the following:
By Type
By Material
- Polystyrene
- Polyethylene
- Acrylonitrile Butadiene Styrene
- Polypropylene
- Poly Vinyl Chloride
- Others
By Application
Regional Analysis
The Asia Pacific region commands and drives the Global Medical Plastics Extrusion Market, holding a substantial share of 41.4% in 2023, which is also anticipated to experience the most significant growth among all regions throughout the projected period, this leadership position is driven by several key factors.
The region benefits from growth in healthcare infrastructure development, augmented healthcare expenditures, changing lifestyles of the population, strong manufacturing facilities, & proactive government initiatives.
The convergence of these factors contributes to the region's dominance in the medical plastics extrusion market, highlighting the region's major role in shaping the industry landscape. With a conducive environment for growth & a comprehensive approach to healthcare advancement, the Asia Pacific stands out as a key driver of the expanding market for medical plastics extrusion.
By Region
North America
Europe
- Germany
- The U.K.
- France
- Italy
- Russia
- Spain
- Benelux
- Nordic
- Rest of Europe
Asia-Pacific
- China
- Japan
- South Korea
- India
- ANZ
- ASEAN
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of Latin America
Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Egypt
- Rest of MEA
Competitive Landscape
The Global Medical Plastics Extrusion Market presents a dynamic competitive landscape with several players contributing diverse products & strategies. The market features strong competition among companies focused on providing innovative solutions, reflecting the continuous evolution & adaptability within the medical plastics extrusion industry.
In September 2023, Biomerics completed a 100,000-square-foot expansion of its operations in Brooklyn Park, Minnesota, which brought the facility's total size to 170,000 square feet. Driven by increased demand, the expansion benefits customers by consolidating various facilities under one roof and enhancing Biomerics' engineering Centers of Excellence, focusing on complex extrusions, laser processing, advanced catheters, steerable, and final assembly operations.
Some of the prominent players in the global Medical Plastics Extrusion Market are:
- GSH Industries
- Nenplas Ltd
- Saint Gobain
- Atlantis Plastics Inc
- Keller Plastics Inc
- China Plastic Extrusion Ltd
- Vesta
- Teel Plastic
- 3M
- Biomerics
- Other Key Players
COVID-19 Pandemic & Recession: Impact on the Global Medical Plastics Extrusion Market:
The COVID-19 pandemic & the subsequent economic recession significantly influenced the Global Medical Plastics Extrusion Market. The healthcare sector faced disruptions in supply chains, manufacturing processes, & demand for medical devices during the pandemic, impacting the production of medical plastics. The economic recession added financial constraints, impacting investment capacities & hindering market growth.
However, the growing focus on healthcare infrastructure & the need for medical devices has acted as a counterbalancing force. The industry witnessed a switch in priorities towards the production of essential medical equipment, leading to a reevaluation of the medical plastics extrusion market. While challenges persist, the recovery phase is marked by resilience & adaptation, with the potential for renewed growth as the healthcare sector continues to adapt to the evolving global landscape.
Recent Development
- In November 2023, Davis-Standard announced an agreement to acquire the Extrusion Technology Group (ETG) from entities under Dutch Investor Nimbus, which aligns with Davis-Standard's commitment to providing top-tier extrusion equipment & converting systems, backed by comprehensive aftermarket support.
- In April 2023, Wellspect HealthCare announced a noteworthy development in its product line, as the company introduced bio-attributed raw materials into one of its offerings, specifically the LoFric Elle female urinary catheter, which is significant in an industry traditionally dependent on fossil-based plastics, signaling a notable step forward for medical device manufacturers prioritizing sustainable and bio-sourced materials.
- In May 2023, DuPont announced its expansion in the medical device and packaging sector through the acquisition of Spectrum Plastics Group, a prominent manufacturer specializing in medical tubing, complex catheter delivery systems, injection molded components, & flexible packaging. The purchase, valued at USD 1.75 billion, is anticipated to be finalized by the end of the third quarter of 2023, contingent on regulatory approvals and standard closing conditions.
Report Details
| Report Characteristics |
| Market Size (2023) |
USD 874.9 Mn |
| Forecast Value (2032) |
USD 1,296.5 Mn |
| CAGR (2023-2032) |
4.5% |
| Historical Data |
2017 - 2022 |
| Forecast Data |
2023 - 2032 |
| Base Year |
2022 |
| Estimate Year |
2023 |
| Report Coverage |
Market Revenue Estimation, Market Dynamics, Competitive Landscape, Growth Factors and etc. |
| Segments Covered |
By Type (Medical Tubing, and Other), By Material
(Polystyrene, Acrylonitrile Butadiene Styrene,
Polypropylene, Poly Vinyl Chloride, and Others), By
Application (Hospital, Clinic, and Other) |
| Regional Coverage |
North America – The US and Canada; Europe – Germany, The UK, France, Russia, Spain, Italy, Benelux, Nordic, & Rest of Europe; Asia- Pacific– China, Japan, South Korea, India, ANZ, ASEAN, Rest of APAC; Latin America – Brazil, Mexico, Argentina, Colombia, Rest of Latin America; Middle East & Africa – Saudi Arabia, UAE, South Africa, Turkey, Egypt, Israel, & Rest of MEA
|
| Prominent Players |
GSH Industries, Nenplas Ltd, Saint Gobain, Atlantis
Plastics Inc, Keller Plastics Inc, China Plastic Extrusion
Ltd, Vesta, Teel Plastic, 3M, Biomerics, and Other Key
Players |
| Purchase Options |
We have three licenses to opt for: Single User License (Limited to 1 user), Multi-User License (Up to 5 Users), and Corporate Use License (Unlimited User) along with free report customization equivalent to 0 analyst working days, 3 analysts working days and 5 analysts working days respectively. |
Frequently Asked Questions
The Global Medical Plastics Extrusion Market size is estimated to have a value of USD 874.9 million in
2023 and is expected to reach USD 1,296.5 million by the end of 2032.
Asia Pacific has the largest market share for the Global Medical Plastics Extrusion Market with a share of
about 41.4% in 2023.
Some of the major key players in the Global Medical Plastics Extrusion Market are GSH Industries,
Nenplas Ltd, Saint Gobain, and many others.
The market is growing at a CAGR of 4.5 percent over the forecasted period.