High Performance Medical Plastics Market Share Analysis, Growth, Outlook By 2033
The high performance medical plastics global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
High Performance Medical Plastics Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The high performance medical plastics market size has grown strongly in recent years. It will grow from <b>$0.96 billion in 2023 to $1.04 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. </b> The growth in the historic period can be attributed to increased demand for minimally invasive procedures, regulatory compliance, growing aging population, advancements in healthcare infrastructure, increasing chronic diseases.
The high performance medical plastics market size is expected to see strong growth in the next few years. It will grow to <b>$1.45 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%. </b> The growth in the forecast period can be attributed to growth in emerging markets, increasing focus on sustainability, growing demand for biocompatible materials, shift towards home healthcare, advancements in material biocompatibility. Major trends in the forecast period include advancements in nanotechnology, focus on sustainability, customization and personalization, precision medicine trends.
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Scope Of High Performance Medical Plastics Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
High Performance Medical Plastics Market Overview
Market Drivers –
Growing healthcare expenditure in emerging economies is expected to propel the growth of the high-performance medical plastics market going forward. Emerging economies such as India and China are increasing their spending on healthcare due to the need to improve healthcare infrastructure, improve public health and the recent COVID-19 pandemic. Increased spending allows the population to go for implants and prosthetic procedures which are made from high-performance medical plastics. This in turn increases the use of medical plastics which drives the high-performance medical plastics market forward. For instance, according to a survey of global medical insurers conducted by Willis Towers Watson Public Limited Company, a British-American company providing insurance services, the healthcare benefit cost increased from 8.2% in 2021, to 8.8% in 2022, and is expected to grow again in 2023 to a high global average of 10%. Therefore, the growing health expenditure in emerging economies is driving the growth of the High-performance medical plastics market.
Market Trends –
Product innovations are a key trend gaining popularity in the high-performance medical plastics market. Major companies operating in the high-performance medical plastics market are constantly focused on developing technologically advanced products to strengthen their market position. For instance, in October 2021, Avient, a US-based supplier of specialized and sustainable material solutions and services, announced the launch of two new products as part of its MEVOPUR line of medical-grade materials. These products were introduced to support manufacturers of pharmaceutical packaging and medical devices in achieving their sustainability goals more easily.
The high performance medical plastics market covered in this report is segmented –
1) By Type: Fluoropolymers (FP), High Performance Polyamides (HPPA), Polyaryletherketones (PAEK), Polyphenylene Sulfides (PPS), Polyetherimide (PEI), Other Types
2) By Raw Material: Polycarbonate, Polypropylene, Polysulfone, Polytetrafluoroethylene, Polyphenylene sulfide, Other Raw Materials
3) By Application: Medical Equipment and Tools, Medical Supplies, Drug Delivery, Prosthesis and Implants, Therapeutic System, Other Apllications
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Regional Insights –
North America was the largest region in the high performance medical plastics market share in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the high performance medical plastics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the high performance medical plastics market report are Atlas Copco Group, Ingersoll Rand Inc., Hitachi Ltd., Kaeser Compressors Inc., Elgi Equipments Ltd., Howden UK Limited, Kobelco Construction Machinery America LLC, IHI Rotating Machinery Engineering Co. Ltd., Anest Iwata Corporation, Fu Sheng Industrial Co. Ltd., Eaton Compressor & Fabrication Inc., Rotorcomp Verdichter GmbH, MAN Energy Solutions SE, Bauer Kompressoren GmbH, Boge Kompressoren Otto Boge GmbH & Co. KG, Baker Hughes a GE company, Siemens AG, KAESER Kompressoren SE, Aerzener Maschinenfabrik GmbH, Sullivan-Palatek Inc., VMAC Global Technology Inc., Rogers Machinery Company Inc., Gardner Denver Holdings Inc., Quincy Compressor LLC, Sullair LLC, Mattei Compressors Inc., Mitsui Seiki (U.S.A.) Inc., Hanbell Precise Machinery Co. Ltd., GHH RAND GmbH, Ceccato Aria Compressa S.r.l., Mark Compressors S.p.A., Hertz Kompressoren GmbH, Airpol Inc., ABAC S.p.A., Worthington Creyssensac S.A., Alup Kompressoren GmbH, Bolaite (Beijing) Compressor Co. Ltd., Fuda Air Compressor Co. Ltd., Kaishan Compressor Co. Ltd., Denair Compressor Co. Ltd.
Table of Contents
1. Executive Summary
2. High Performance Medical Plastics Market Report Structure
3. High Performance Medical Plastics Market Trends And Strategies
4. High Performance Medical Plastics Market – Macro Economic Scenario
5. High Performance Medical Plastics Market Size And Growth
…..
27. High Performance Medical Plastics Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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