DUBLIN--(BUSINESS WIRE )--The "Medical Plastics - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

Global Medical Plastics Market to Reach $28.2 Billion by 2026

Plastics that are used in healthcare are typically medical-grade polymer materials that follow the regulatory standards precisely engineered for medical use or plastics that are used in consumer packaging. Medical plastics are expected to continue exhibiting encouraging growth due to increased use of medical devices, improvement in medical packaging, enhanced biocompatibility of high-end polymers, and growing importance of portable and compact devices.

The growing use of implants, rising aging population, and a shift towards disposable devices would additionally contribute to market growth. Furthermore, the increase in number of plastic-intensive complex procedures such as cosmetic surgeries, and advanced prosthetics and joint replacements are likely to fuel demand for medical plastics.

Technologies such as transplant medicine, tissue engineering, and specialized polymer coatings that enable the creation of complex design and drug coated devices for targeted drug delivery are expected to boost demand for medical plastics.

The U.S. Market is Estimated at $5.8 Billion in 2021, While China is Forecast to Reach $4 Billion by 2026

The Medical Plastics market in the U.S. is estimated at US$5.8 Billion in the year 2021. China, the world's second largest economy, is forecast to reach a projected market size of US$4 Billion by the year 2026 trailing a CAGR of 6.4% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.7% and 4.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 5.1% CAGR.

Standard Plastics Segment to Reach $10.9 Billion by 2026

Standard plastics such as Polyvinyl chloride and Polyolefin find application in medical disposables, containers, films, packaging, medical bags, catheters, implants, and lid stocks; blood bags and blood tubing among others. In the global Standard Plastics segment, USA, Canada, Japan, China and Europe will drive the 5.4% CAGR estimated for this segment.

These regional markets accounting for a combined market size of US$5.8 Billion in the year 2020 will reach a projected size of US$8.4 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1 Billion by the year 2026, while Latin America will expand at a 5.9% CAGR through the analysis period.

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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com

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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com

For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900