With growth in aging U.S. population, there is expansion in the market for medical treatment, like minimally invasive procedures in particular. Patients are interested in minimally invasive methods, enhancing the use of plastic polymers in medical tubing and catheters.
The overall North American market volume of plastics in medical devices has amounted to £1,370.0 M, according to a comprehensive Frost & Sullivan study Analysis of the Plastic Polymers in Medical Devices Market. This amount indicates revenues over $1 B. Driven by a CAGR of 5.2% and will be equal to $1.45 B, by 2018. Majority of the total volume includes commodity plastics like polyethylene (PE), polypropylene (PP), and polyvinyl chloride (PVC).
Homecare medical devices will gain attention in the market owing to minimal healthcare costs and hospital stay. Also, the demand for diabetes control devices and dialysis kits will be improved, consequently leading to demand for medical plastics. Featured with durability and versatility, plastics can be ideally used in homecare devices.
The use of polymers in medical devices is somewhat limited due to degradability and recyclability. Commodity resins like PE, PP, and PVC feature high performance and affordability and have wide potential applications.
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Source: http://www.frost.com/