APAC eyes strong growth in global medical device plastics market

Thanks to expanding pharmaceutical manufacturing and rapid urbanisation.

The Asia–Pacific is experiencing strong growth in medical device plastics, with the global market projected to reach $31.82b by 2030, according to MarketsandMarkets.

The region’s growth is attributed to expanding pharmaceutical manufacturing and rapid urbanisation.

In addition, it is driven by increasing government support for local production, particularly in China, India, and South Korea.

Meanwhile, the global market is expanding due to technological, demographic, and regional factors.

“Global healthcare spending, expanding medical device manufacturing base, and rapid adoption of advanced, diagnostic, and therapeutic technologies are driving consistent demand for high-performance plastic components,” the report said.