Asia-Pacific crushes rivals amidst accelerating medical plastic dominance

It may be the fastest-growing market due to healthcare investments, rising medical tourism, amongst others, in the region.

The Asia Pacific is expected to be the fastest-growing market for medical plastics, as the global plastics market size is expected to reach $44.66b by 2032, according to Verified Market Research.

Expanding healthcare investments, rising medical tourism, and cost-efficient manufacturing hubs in China, India, Japan, and South Korea will drive the growth in the region, it added.

The research firm said that globally, rising healthcare expenditure, increasing demand for disposable medical devices, and rapid adoption of advanced polymer materials will push demand in the market.

Growth is expected to be further supported by expanding medical infrastructure and stringent hygiene standards.

However, fluctuating raw material prices, regulatory compliance complexities, and environmental concerns related to plastic waste may restrain the market expansion of medical plastics over the firm’s forecast period of 2026 to 2032.

Medical-grade plastics offer cost efficiency, design flexibility, and compliance with strict sterilisation standards, making them ideal for syringes, catheters, IV components, and diagnostic tools, Verified Market Research said.

The market size is projected to gain a 6.60% Compound Annual Growth Rate (CAGR) over the forecast period, it added.

The North America region dominates the global medical plastics market, whilst Latin America and the Middle East & Africa are seen to show steady growth.

The firm said that the top companies in the market include Röchling SE & Co. KG; Nolato AB; Saint-Gobain; SABIC; Orthoplastics Ltd; Eastman Chemical Company; Celanese Corporation; Dow, Inc.; Tekni-Plex, Inc.; Solvay S.A.; HMC Polymers Company Limited.

The market size stood at $26.78b in 2024.