Medical Plastics Market: Polyphenylsulfone Dominated And Accounted For The Overall Revenue
Medical Plastics Industry Overview The global medical plastics market was valued at USD 46.11 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 7.5% from 2022 to 2030. The growing geriatric population in North America, Europe, and Asian countries like Japan and the increasing demand for home healthcare are the major factors driving the growth of medical plastics. Enforcement & upgrading of various infection prevention standards coupled with a growing volume of surgical, hospital, and outpatient procedures are anticipated to drive the market growth over the forecast period. Fluctuation in oil prices has been a major factor responsible for volatility in the prices of polyethylene (PE), polypropylene (PP), and polycarbonate (PC). Capacity expansion and contraction have also contributed to price volatility in the market. The medical plastics market in the U.S. was valued at USD 13.17 billion in 2021. The...