The Europe Medical Plastic Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.
Market Overview:
Europe Medical Plastic Market is expected to reach USD 4.84 billion by 2024. Plastic is termed as a material, which is a part of synthetic solids, or semi-synthetic solids, which are used in producing industrial products. Medical plastic makes the procedure simpler and patients safer. It is used in manufacturing of several medical devices and equipment’s from diagnostic wants to MRI machines as well as surgical and medical tubing.
Key Players:
- Rochling Group
- Nolato AB
- GW Plastics
- Saint Gobain Performance Plastics Corporation
- Orthoplastics
- Eastman Chemical Company
- Celanese Corporation
- The Dow chemical company
- Tekni-Plex.
- Solvay S.A.
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Growth Drivers:
The Europe Medical Plastic Market is estimated to grow at a significant CAGR of 5% over the forecast period as the scope and its applications are rising enormously across the globe. Rising demand for medical plastic applications like surgical instruments, implants, and others, growing government initiative to support medical industry in the region, increasing R&D expenditure, and high demand for healthcare facilities and services are documented as major factors of Europe Medical Plastic Market that are estimated to enhance the growth in the years to come. However, waste disposal may be a major restraint to overall market in the coming years. Europe Medical Plastic industry is segmented based on type, application, and region.
Application Outlook:
- Disposables
- Containers
- Catheters
- Surgical instruments
- Medical bags
- Implants
- Drug testing equipment
Product Outlook:
- Polyvinyl Chloride
- Polypropylene
- Polyethylene
- Polystyrene
- Silicone
- Engineering Plastic
Regional Outlook:
Italy accounted for the substantial market share of Europe Medical Plastic and is estimated to lead the overall market in the coming years. The reason behind the overall market growth could be government initiative for the development of healthcare sector and rising home healthcare market in the country. Also, in terms of revenue Germany is estimated to grow at highest CAGR in the coming years. This may be because of increasing public health insurance plan, high spending on healthcare by customers, and rising acceptance of enhanced medication technologies in the country.
The key players of Europe Medical Plastic Market are Röchling, Lubrizol, Evonik, Ensinger, DSM, Celanese, Biometrics, Trinseo, Arkema, and BASF. These players are concentrating on inorganic growth to sustain themselves amongst fierce competition. As companies all over the world have to believe that alliance with a market would permit them proportional market existence and authority to declare the leadership position.
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