The
global Medical Plastics Market size during this pandemic is projected to grow
from USD 25.1 billion in 2020 to USD 29.4 billion by 2021, at a Compound Annual
Growth Rate (CAGR) of 17.2% during the forecast period.
Browse 25 market data Tables and 6 Figures spread through 57 Pages and in-depth
TOC on "COVID-19 Impact On “Medical Plastics Market”.
Europe is projected to register the highest
CAGR between 2020 and 2021 owing to being epicentre and enhanced local
production.
The medical plastics market in Europe has immense
demand potential driven by the increasing requirement for ventilators,
respirators, thermal scanners, and other patient care systems. Europe consists
of some profoundly affected countries such as Italy, Spain, Germany, France,
and others, which have a large demand for patient care systems. In addition,
growth in the requirement of PPEs will also drive demand for medical plastics
in the region.
Based on the
application, the medical disposables segment is projected to register the
highest CAGR during the forecast period in the medical plastics market
The use of medical
plastics is increasing due to their versatility. Medical disposables can be
defined as single-use products that are used in surgical as well as procedural
applications. The use of these medical products in procedural applications and
general check-up is increasing. Besides, the use of these disposables as
instructed by various agencies, such as USFDA and Europe FDA, are propelling
the demand for medical plastics globally. Increased demand for disposables such
as gloves, masks, gowns, and other PPEs will drive the market during this
pandemic.
SABIC (Saudi Arabia), BASF (Germany), Celanese
(US), Evonik (Germany), Solvay (Belgium), and Covestro (Germany) are some of
the leading market players in the global medical plastics market.
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