Page 190 - CW E-Magazine (26-3-2024)

Special Report Special Report

Transformative applications of medical plastics creating signifi cant opportunities in the pected to surge in the country due to are investing in research & develop-
ment to create innovative materials
market. As patients increasingly take an increasing aging population. As the
active role in their healthcare, there is baby boomer generation continues to that offer unique features, improved
he global medical plastics Global focus on NIKHIL KAITWADE a rising demand for user-friendly and age, there is a higher prevalence of performance, and enhanced func-
market size reached a size infection control and Future Market Insights convenient drug delivery systems. chronic diseases and a greater need tionality. Developing new materials
Tof US$15,439.8-mn in 2022. patient safety has fur- for medical treatments and proce- and technologies allows them to
Demand for medical plastics registered a ther fuelled demand nalised implants, prosthetics, and sur- The trend has led to the develop- dures. Emphasis on infection con- offer cutting-edge solutions to health
6.6% year-on-year growth in 2022, for medical plastics. gical tools. As healthcare shifts toward ment of innovative medical devices trol and patient safety in healthcare care providers, giving them a com-
indicating that the global market would Hospitals and health- patient-centric approaches, there is a such as auto-injectors, inhalers, and settings has also led to an increased petitive advantage over traditional
reach US$16,462.6-mn in 2023. Over care facilities are con- growing need for medical devices that wearable injectors. These might allow adoption of medical plastics. The US products.
the projection period from 2023 to 2033, tinuously seeking ways to minimize the can be customized to individual patient patients to self-administer medications healthcare sector is very keen on pre-
global sales of medical plastics are risk of infections and improve patient requirements. at home or on the go. These devices venting hospital-acquired infections Suppliers are also increasingly
expected to exhibit a 7.0% CAGR, outcomes. often rely on medical plastics due to and improving patient outcomes. focusing on offering customised
ultimately totalling a market size of Rapid shift toward minimally-invasive their versatility, biocompatibility, and and personalised solutions to meet
US$32,293.4-mn by the end of 2033. Medical plastics possess inhe- procedures ability to meet stringent regulatory Medical plastics possess inherent specifi c needs of healthcare facilities and
rent antimicrobial properties and can The shift toward minimally-inva- requirements. antimicrobial properties and are end-users. By providing tailor-made
Medical plastic demand is on the be easily cleaned & sterilized. This sive procedures has been a signifi cant easily sterilizable. This make them an products and services, they can better
rise worldwide due to their indispens- can help in reducing the potential for driver for growth in the medical plas- Medical plastics enable the pro- ideal choice for producing medical address diverse demands of the
able role in ensuring safety and hygiene contamination and infection transmis- tics market. These procedures involve duction of components such as drug devices and equipment that adhere to healthcare sector and strengthen their
in healthcare settings. With a grow- sion, making them a preferred choice using small incisions or natural body cartridges, syringes, and inhaler parts, the highest hygiene standards. customer relationships.
ing global population and increasing for medical equipment and disposable openings to perform surgeries or medi- ensuring precise drug delivery and
chronic diseases, the healthcare sector items. cal interventions, instead of traditional patient safety. Integration of electro- China market growth To remain competitive, a few
is expanding rapidly. This is projected open surgeries. nics, sensors, and connectivity features Medical plastic sales are experien- manufacturers are optimising their
to create a surging demand for medical Environmental considerations also in drug delivery devices might further cing an astonishing surge in China production processes to reduce costs
equipment and devices. play a signifi cant role in driving the The approach offers numerous enhance their functionality and patient- due to the country’s rapidly expand- while maintaining high-quality stan-
demand for medical plastics. As sustain- advantages, including: reduced trauma to monitoring capabilities. ing healthcare infrastructure. With a dards. Cost-effectiveness is crucial
Medical plastics serve as a critical ability becomes a priority for various patients; faster recovery times; shorter growing middle-class population and in a competitive market, as it enables
component in the manufacturing of sectors, including healthcare, there is a hospital stay; and minimal scarring. Factors that may impede medical increased government investment in competitive pricing to customers
a wide range of products, including growing demand for eco-friendly medi- plastic sales healthcare, demand for medical devices without compromising on product
syringes, IV tubes, catheters, surgical cal solutions. Medical plastics have Medical plastics play a crucial role Concerns over plastic waste and has skyrocketed. Ongoing moderni- quality.
instruments, and diagnostic devices. evolved to be more environmentally in enabling these procedures by provid- environmental impact might limit sation and development of hospitals &
These are projected to contribute to the friendly. Manufacturers are projected ing the necessary tools and equipment demand. Limited biodegradability and clinics across the country have further For instance, in March 2022, to
growth in demand. to use biodegradable and recyclable such as catheters, surgical instruments, recycling options for certain medical fuelled the need for medical-grade fulfi l the rising need for alternatives
materials, reducing the environmental implants, medication delivery systems, plastics might also hamper sales, as plastics. to fossil-based materials throughout
Growth drivers impact of medical waste. and diagnostic gadgets. These devices might competition from alternative the world, ABB Technology (ABB)
Advancements in medical techno- require materials that are sterile, bio- materials such as bioresorbable poly- Another signifi cant factor push- automated NatureWorks’ greenfi eld
logy and innovations are set to propel Increasing focus on personalized compatible, and lightweight. Materials mers and metals. ing the remarkable growth in China is bioplastics facility in Thailand. The
demand for medical plastics. As medi- medicine and minimally-invasive pro- that have exceptional mechanical pro- the country’s thriving medical tourism new facility will produce 75-ktpa of
cal research progresses, there is a con- cedures is also likely to push perties are also required. Finally, reluctance among some sector. The country has been attracting Ingeo polylactic acid (PLA) bio-
stant need for improved and specialized demand for medical plastics worldwide. healthcare professionals to adopt new patients from around the world seek- polymer.
medical devices that are lightweight Demand for innovative plastics that can Medical plastics can be utilised to plastic-based medical technologies ing high-quality medical treatments at
and durable. Demand for unique medi- deliver optimal performance while create instruments and devices needed might also be an impediment. competitive prices. In June, 2023, in order to offer
cal devices that are compatible with reducing trauma and scarring will for minimally-invasive procedures as coloured grades of Ultrason high-
various sterilization methods might increase. they satisfy these requirements. Rapid increase in the United States The ability of medical plastics to performance polymers, Avient Cor-
also expand. North America is estimated to hold offer a balance between cost-effective- poration and BASF worked together.
Versatility and adaptability of medi- Self-administration of drugs and deve- around 34.1% of the global medical ness and performance makes them a Through this partnership, consu-
Medical-grade plastics offer an cal plastics would make them a crucial lopment of new drug delivery techno- plastics market share in 2023. In the key component in catering to diverse mers in the healthcare and other
ideal solution. They can be moulded into component in meeting the evolving logies region, the US is expected to lead the needs of patients. sectors are given a complete solu-
complex shapes, incorporate unique demands of modern healthcare prac- The growing trend of self-admini- medical plastics industry by 2033. tion, starting with the base polymer
features, and maintain their functionality tices. Medical-grade plastics offer the stration of drugs and development of Competitive landscape and ending with the coloured final
under demanding medical conditions. versatility required to develop perso- new drug delivery technologies are Medical plastic demand is ex- Medical plastic manufacturers product.

190 Chemical Weekly March 26, 2024 Chemical Weekly March 26, 2024 191

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