The major factors responsible for the growth of medical plastics is due to the increase in the healthcare expenditure towards manufacturing of healthcare equipment for both treatment and research and development purposes. Due to recent outbreak of COVID 19, there is a surge in medical plastics among other equipment manufacturers (OEMs) and medical device manufacturers to produce critical healthcare equipment such as rapid test kits, thermal scanners, ventilators, isolation beds, inhalation masks, pill casings, intravenous tubes, implants, stents and catheters, medical suits, and respirators. Moreover, the necessity among the individuals, doctors and nurses to contain the infection spread is driving the usage of medical plastics consumption.

Medical grade plastics are different from normal plastics. Medical plastics should withstand high temperature, chemical reactivity, and are corrosion free. For instance, respirator bulbs are molded from vinyl polymers. Vinyl based medical plastic product has excellent display quality and chemical resistance, and can be easily processed into range of colors and durometers.

Medical vinyl products are also used in producing wider range of products such as wound, chest drainage tubes, endotracheal tubing, and catheters. CT scanners and other X-ray generating equipment usually include components machined from lead or lead alloys that collimate, or guide, the X-ray photons. In addition, X-ray rooms are often lined with lead and the patient is draped in lead to minimize exposure to radiation.

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Changing demographics playing an important role in creating new opportunities for the medical plastic market. The aging population in the developed nations have significant impact on the healthcare device ergonomic design and comfort, as they require more medical attention in the home settings. Geriatrics also require consumer friendly medical equipment. Medical plastics made from soft touch TPEs and technological breakthroughs in the molding technology solve this purpose.

Most of the durable medical equipment are made from medical grade plastics are user friendly. Medical plastics which can provide thin wall extensive molding capacity, high performance with great appearance in home based care for geriatrics will help medical plastics end users (finished products manufacturers) to have win-win situation in the medical plastics market.

However, the medical device industry is facing tough time, owing to increased and volatile input industry. Due to the outbreak of COVID-19, the petrochemical industry is in downward trend. Moreover, decrease in crude oil prices and fluctuations in currency is affecting the medical plastic industry negatively. Moreover, marine litter is a global challenge and it is unacceptable that waste, including medical plastic waste, ends up in our environment, our rivers and our oceans.

North America is the largest revenue contributor in the medical plastics market due to growth of pandemic massively in the region. The number of COVID-19 cases in North America is also enhancing rapidly with registered cases of almost 5,04,780 and 18,763 deaths as registered in the first week of April. Furthermore, massive explosion of coronavirus along with sufficient accessibility to the essential items to healthcare workers is increasing in the region that is further bolstering the growth of medical plastics market in this region.

SABIC, BASF, Celanese, Evonik, Solvay, and Covestro are few leading players in the global medical plastics market. Increase in production, mergers and partnerships to enhance their regional presence in the COVID-19 affected areas to meet the demand of medical plastics in the affected areas. For instance, in April 2020, Lubrizol announced an increase in the production of Carbopol polymers and Estane TPU materials. This strategy was undertaken to support the rising demand for protective garments, face shields, barrier curtains, hoses, tubing and cables, medical device components utilized in ventilators, valves, and infusion pumps, and other devices produced through 3D printing.

Source: VynZ Research