The North America medical plastic market was valued at US$ 7,893. 8 million in 2019 and is projected to reach US$ 14,249. 6 million by 2027; it is expected to grow at a CAGR of 7. 7% during the forecast period of 2018-2027.
New York, Feb. 25, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "North America Medical Plastic Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Type ; Application, and Country" - https://www.reportlinker.com/p06004214/?utm_source=GNW
Medical plastics are made from a huge number of macromolecules, which are utilized to produce consistent and safe instruments in the healthcare industry.Medical plastics find a broad range of applications in diagnostic instruments, implants, disposables, drug delivery devices, surgical instruments, syringes, and catheters.
The global population is projected to increase in the coming years.With the increasing population, diseases and infections are rampantly overspreading through several mediums.
The rising geriatric population further enhances the development of the healthcare sector. Moreover, medical plastics are also exploited in prosthetics, and it offers a life-changing solution for physically disabled people.
Based on type, the medical plastic market is segmented into standard plastics, engineering, plastics, high performance plastic (HPP), silicone, and others.In 2019, the standard plastic segment dominated the North America medical plastic market.
Based on application, the North America medical plastic market is categorized into medical disposables, prosthetics, medical instruments and tools, drug delivery, and others. In 2019, the medical instruments and tools segment accounted for the largest share in the North America medical plastic market.
Geographically, the North America medical plastic market is segmented into the US, Canada, and Mexico.The US accounted for the largest share of the North America medical plastic market.
Canada’s healthcare guide has registered a dramatic change in the past few years.A shift has been made in consumer living patterns and healthcare patterns.
The consumption of medical plastic in the healthcare sector is gaining the interest of consumers in Canada. In Canada, rise in consumer’s purchasing power, along with increasing preference for high-quality medical devices, is impacting the growth of the market.
Celanese Corporation, Eastman chemical company, GW Plastics, Orthoplastics Limited, Aran Biomedical, Rochling, SABIC, Saint-Gobain, Solvay, and Dow are among major players present in the North America medical plastic market.
Overall size of the North America medical plastic market has been derived in accordance to primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who take part in such a process include industry experts, such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants, such as valuation experts, research analysts, and key opinion leaders specializing in the North America medical plastic market.
Impact of COVID-19 Pandemic on Medical Plastic Market
In North America, the US is the hardest-hit country by the COVID-19 outbreak.The US has the highest number of confirmed cases of COVID-19, as compared to Canada and Mexico.
This is likely to impact the food & beverages industry in the region as due to the COVID-19 outbreak, the supply and distribution chain is likely to get affected. In addition, the overall manufacturing processes, research, and development activities would also impact market growth.
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