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India Medical Plastics Market Size, Forecast And Trend Analysis, 2014 - 2025

India Medical Plastics Market Size, Forecast And Trend Analysis, 2014 - 2025

  • September 2018
  • 51 pages
  • ID: 5583952
  • Format: PDF
  • By Hexa Research

Summary

Table of Contents

India Medical Plastics Market Size and Forecast By Application (Medical Device Packaging, Medical Components, Orthopedic Implant Packaging, Orthopedic Soft Goods, Wound Care, Other Implants) And Trend Analysis, 2014 - 2025

The India medical plastics market size is expected to reach USD 931.7 Million by 2025 at a CAGR of 6.7%. The growth is mainly due to the advent of advanced engineered plastics and plastic composites used in medical components, such as catheters, surgical instrument handles, and syringes. Demand for high-quality disposable medical devices and components is expected to increase in the coming years owing to the introduction of orthopedic, short stay, and plastic surgeries.

Medical plastics are commonly used in the packaging of various surgical instruments, such as scissors, scalpels, forceps, and retractors. Increasing use for these instruments in various surgical procedures, such as neurosurgery, urology, thoracic surgery, and plastic and reconstructive surgeries, is projected to boost the market growth over the projected period.

In addition, growing demand for containers in pathological labs and healthcare facilities to preserve specimens and medications is anticipated to influence the India medical plastics market growth over the forecast period. Increasing demand for sterile, non-reactive, and breakage-free containers for storage of drugs and test samples is anticipated to further drive the market in near future.

Demand for home healthcare has resulted in an increased demand for medical devices mainly due to lower cost as compared to hospital care and intensive care. Different types of diagnostic tests conducted by hospitals are expected to contribute to the increasing demand for medical devices. In addition, growing medical and healthcare needs of aging population, rising prevalence of chronic diseases, infrastructure improvements, and technological advancements are expected to boost the market.

The demand for high strength plastics, such as polypropylene and polyethylene, is expected to increase in the coming years on account of their superior performance and strength. Lower cost of polypropylene as compared to its alternatives, such as polystyrene and polycarbonate, is anticipated to be the key factor driving market growth in the forecast period. Polypropylene is widely used in hernia repairs and medical implants. Thus, increasing demand for high-performance polypropylene in implants is anticipated to open new avenues for the Indian medical plastics market growth over the forecast period.

In 2017, the volume of polyethylene consumed increased due to its properties, such as high resistance to abrasion and corrosive chemicals, extremely low moisture absorption, very low coefficient of friction, and characteristic of self-lubrication. These properties make polyethylene suitable for use in medical applications including disposable gloves, catheters, and implants. Recent development in application of polyethylene films in medical drapes and in manufacturing double-layered transparent pouch to prevent hypothermia is expected to augment the demand for polyethylene, thereby driving the medical plastics market over the forecast period.

The Government of India is in the process of developing regulations designed to ensure the quality, safety, and performance of medical devices. The government believes that an efficient regulatory system will help improve Indian healthcare sector and support the development of the country’s domestic industry. The medical components segment led the market and is estimated to grow at a significant pace over the forecast period. However, the use of plastic for making denture base is gaining popularity as they are easy to construct and repair, lightweight, and cost-effective. This is further expected to drive the market in India.

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