According a recent study titled ‘Medical Plastics Market Share, Size, Trends & Industry Analysis Report by Type; By Application ; By Region: Segment Forecast, 2018 - 2026’, available with Market Study Report, global medical plastics market is projected to expand at a yearly growth rate of 6.1% throughout 2020-2026 and subsequently cross a valuation of USD 37.5 billion by the end of the forecast period.
 

Industry experts cite that booming elderly population and their demand for services, along with increasing number of home healthcare services and self-remedies are driving global medical plastics market growth.
 

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Besides, rising inclination towards minimally invasive procedures, government efforts towards promoting quality healthcare services, and technological advancements are the other rationales behind the industry expansion. Further, sustained demand from developing countries in tandem with continual use of plastics instead of metals will present new opportunities for global medical plastics industry expansion.
 

On the contrary, stringent government directives and lack of standardized healthcare regulations across the globe is rendering a negative impact on the business dynamics. Moreover, volatile prices of polyvinyl chloride, polyethylene, polypropylene and polystyrene are hampering the production of medical plastics.
 

Considering the regional landscape, North America will be a major contributor to the overall medical plastics market remuneration during the stipulated timeframe. This can be credited to increasing number of aged people in the United States, rising burden of lifestyle diseases, and high concentration of advanced grade plastics manufacturers in the region.
 

Meanwhile, Europe market is set to witness strong growth owing to rising demand for dental and body contouring implants among the populace. Moreover, high disposable income and growing popularity of cosmetic dentistry will further add to the industry growth.
 

Asia Pacific medical plastics market will also gain considerable traction in the forthcoming years with China at the forefront, owing to soaring healthcare cost, high cases of various diseases, and inflating geriatric population in the nation.
 

Speaking of the competitive landscape, worldwide medical plastics market is characterized by high degree of cost competitiveness, with companies heavily investing in R&D to develop advanced products. Compagnie de Saint-Gobain S.A., Orthoplastics Ltd., Tekni-Plex, Inc., The Dow Chemical Company, Eastman Chemical Company, GW Plastics, Trinseo S.A., Specialty Silicone Fabricators, Inc., HMC Polymers Co., Ltd., and DuPont de Nemours, Inc. are the leading players in the marketplace.