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Medical Plastics: Technologies and Global Markets
LONDON, July 12, 2017 /PRNewswire via COMTEX/ -- Copyright (C) 2017 PR Newswire. All rights reserved

Use this report to:- Learn about the global disposable and nondisposable medical plastics market.- Analyze various medical device plastic processes.- Gain insight into the recent patents issues related to polymers and medical devices.

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Receive an overview of methods for sterilization techniques.

Highlights- The global market for medical plastics reached nearly 12.0 billion pounds in 2015. This market is expected to increase from nearly 12.7 billion pounds in 2016 to nearly 17.2 billion pounds in 2021 at a compound annual growth rate (CAGR) of 6.2% for 2016-2021.- The commodity thermoplastics market is expected to grow from 7.6 billion pounds in 2016 to nearly 10.3 billion pounds in 2021 at a CAGR of 6.2% from 2016 through 2021.- The thermosets market is expected to grow from 908.1 million pounds in 2016 to 1.2 billion pounds at a CAGR of 6.5% from 2016 through 2021.

STUDY GOALS AND OBJECTIVESThis study is an updated version of an earlier BCC Research study published in 2015. The objective of this study is to analyze current and future markets for medical plastics- excluding medical packaging; although several medical devices are often included in studies of medical packaging, such as syringes, kits, tubing, and trays.

REASONS FOR DOING STUDYPlastics usage in the healthcare field encompasses several distinct markets, and, as noted, covers applications for medical devices and related products and packaging. Market research studies in the past have often combined these two applications, which do not benefit companies exclusively involved in medical devices or medical packaging.

Plastics usage in medical devices has been growing faster than the gross domestic product (GDP) of the U.S. and other major markets. The aging U.S. population, continuing cost-reduction pressures in the healthcare field, advances in polymer performance, introduction of new and often life-saving devices, and the ever-present environmental, disposable and nondisposable medical devices, all warrant an in-depth study at this time.

SCOPE OF REPORTThis report will be somewhat different from many other studies in which the focus was on materials such as resins and elastomers. This report will initially cover the medicaldevice industry, itself, and industry and market information will be updated and definitive and detailed estimates and forecasts of the global market will be provided, followed by a detailed analysis of the key resins used to make these devices.

The ever-changing face of the medical device industry, new types of medical devices legislative, regulatory and environmental issues, new products and technologies related to medical devices, sterilization techniques and impact on polymer selection, polymer usage in medical devices, status of PVC, and medical plastic's product lines and trade-named products along with the recent introduction of 3D printing are some of the topics that are covered.

It needs to be reiterated that several specific medical devices such as syringes, trays, tubing and kits are considered by many to be an integral part of the medical packaging market. For example, prefilled syringes are now dominant, as opposed to those filled at hospitals or physicians' offices. Kits and trays are also used to prepackage other medical devices, all of which will be covered in the report.

METHODOLOGYAn extensive review was undertaken of trade and technical literature on plastics used in medical devices including coverage of recent conferences and meetings by trade associations. Following the collection and analysis of this data, we contacted polymer producers, compounders, medical device manufacturers and others for additional input.

The word millions is often abbreviated MM and growth rates are annually compounded. All tables not sourced to BCC Research were extracted from a variety of trade literature sources.

INTENDED AUDIENCEThis report should be of interest to a wide array of companies and trade associations related to the medical device industry. First and foremost would be the leading companies in the medical device industry, almost all of which use plastics in one form or another.

In addition, plastic producers involved in the market need to be kept abreast of continual changes in technology and medical advances to assess the role of their products in terms of their effectiveness, and the competitive scenario within each of the important plastic medical device products.

All of the above also need to keep up-to-date on the activities of the federal agencies, led by the Food and Drug Administration, especially in following the role of the Obamacare medical device tax. The latter went into effect in 2013, but in 2015, Congress imposed a two-year (2016-2017) moratorium on its collection.

ANALYST'S CREDENTIALSThe original report on which this update is based was prepared by Mel Schlechter. Mr. Schlechter has more than 40 years in the chemical industry, and specializes in plastics market research. He has been with BCC Research for more than a decade and holds aB.S. in chemistry, M.S. in organic chemistry, and an M.B.A. in marketing.

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