The Global Medical Polyethylene Market accounted for US$ 5,246 Mn in 2021 and is expected to reach US$ 8,921 Mn by 2030 with a considerable CAGR of 6.1% during the forecast timeframe of 2022 to 2030.
Polyethylene (PE) is a thermoplastic material with a variable crystalline form that can be used for a wide range of applications depending on the type. It is among the most widely available plastics on the planet, with hundreds of thousands of tons produced annually. Furthermore, PE in medical applications offers a number of competitive advantages to health care providers and medical product designers. Additionally, polyethylene (PE) and some other polymers are used to make mission-critical medical products like patches, packaging films, personal protective equipment, containers, tubing, and pouches; as a result, they can play a critical role in promoting cleanliness and wellness. PE materials in the healthcare sector can be designed for specific applications, reducing the need to sterilize and reuse devices and thus aiding disease prevention. Following the COVID-19 global pandemic, there has been an increase in demand for polyethylene in healthcare applications due to increased demand for personal hygiene products as well as protective equipment such as PPE kits and sanitizers.
· The rapidly increasing pharmaceutical devices market
· Rising aging populations and consequential medical procedures
· Increasing demand for polyethylene-based surgical instruments
· Presence of stringent regulations
· Price fluctuations of raw materials
· Changing trends towards home health care treatment
· The growing use of disposable medical equipment
|Market||Medical Polyethylene Market|
|Market Size 2021||US$ 5,246Mn|
|Market Forecast 2030||US$ 8,921Mn|
|CAGR||6.1% During 2022 - 2030|
|Analysis Period||2018 - 2030|
|Forecast Data||2021 - 2028|
|Segments Covered||By Type,, By Application And By Geography
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Borealis AG, Lyondell Basell Industries N.V., SABIC, Du Pont De Nemours Inc., INEOS, DOW Chemicals, Orthoplastics Ltd., SINOPEC, Petrochina, Eastman Chemical Company, Mitsui Chemicals, Inc., and Celanese Corporation.|
||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
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Medical Polyethylene Market Dynamics
Polypropylene is expected to see significant growth in medical industrial applications due to its high microbial and chemical resistance, low weight, and low cost. It also has a wide range of applications in the production of medical disposables. The medical-grade polyethylene industry is expected to expand significantly during the forecast timeframe as a result of improved medical services and infrastructure, an increase in surgical procedures, and an increase in chronic diseases. Furthermore, the growing orthopedic industry is projected to boost the market of the medical polyethylene industry. Moreover, increasing healthcare investment, combined with an aging society, is expected to propel the market growth. Furthermore, an increase in disposable income and a dramatic change in lifestyle will drive the demand for medical polyethylene even higher. Besides that, the production of polyethylene requires a large amount of energy and produces a huge amount of carbon dioxide, which is a greenhouse gas that contributes to climate change and global warming. These are the most significant impediments to market growth.
Market by Type
Due to the high melting point, good resistance to dilute acids, alcohol, and alkalis, high density, low-cost polymer with good processability and good electrochemical insulation, good impact strength, very low water absorption, and FDA compliance, high-density polyethylene (HDPE) and high-density polyethylene (LDPE) have seen growing consumption in the medical end-use industry. HDPE is widely used in the medical industry because it does not absorb moisture and has good chemical resistance. HDPE is non-toxic and food-grade, making it perfect for medical applications such as tubing and containers. Additionally, with some formulations with certain plastic additives, PE polymer also has antimicrobial properties. For example, SABIC and Mauser have joined forces to introduce a new grade of HDPE in order to expand the market for blown containers for clinical and medical applications.
Besides that, LDPE is a more supple and flexible plastic than HDPE. However, it does acquire inferior mechanical properties, making it less appropriate for demanding applications that may require high-performance plastics.
Market by Application
· Medical Tubing
· Medical Bags
· Medical Implants
· Drug Testing Equipment
Based on the application, the medical tubing application segment accounted for the largest market share in 2021 and is expected to grow significantly over the forecast timeframe. Polyethylene tubing is an FDA-approved tubing option that is ideal for a wide range of fluid, liquid, and gas transfer applications. Polyethylene tubing is resistant to leakage, which aids in contamination prevention. Furthermore, when compared to metallic tubing, PE products can be bulk produced at a lower cost. In addition to lower production costs, PE products can be much more durable than any other material, preventing stress and strain from high pressure. Metal products are much more susceptible to corrosion and many other types of corrosion, so they may need to be supplemented more frequently. However, plastic products are not only more efficient in many situations, but they would also reduce the amount of time hospital staff spends on decontamination and sterilization.
Medical Polyethylene Market Regional Overview
· Rest of Europe
· Rest of Latin America
· South Korea
· Rest of Asia-Pacific
Middle East & Africa
· South Africa
· Rest of Middle East & Africa
The Asia-Pacific region is dominating the Medical Grade Polyethylene market due to rising healthcare infrastructure and medical expenses in developing countries such as India, Japan, China, and South Korea. Growing disposable income along with innovative government rules and healthcare regulations aimed at improving medical treatment are expected to drive regional medical polyethylene market growth during the forecast period. Furthermore, the region's expanding health-care systems, as well as increased awareness of medical procedures, are driving the market growth. As a result of ongoing investment in the medical sector and the dominance of Medical Grade Polyethylene in orthopedic plants, the regional market is expanding. However, Reliance Industry reports that demand for polyethylene in the Asia-Pacific region has increased at a rate of 4% in recent years.
Some of the prominent players in global Medical Polyethylene market are Borealis AG, Lyondell Basell Industries N.V., SABIC, Du Pont De Nemours Inc., INEOS, DOW Chemicals, Orthoplastics Ltd., SINOPEC, Petrochina, Eastman Chemical Company, Mitsui Chemicals, Inc., and Celanese Corporation.
The estimated value of global medical polyethylene market in 2021 was accounted to be US$5,246 Mn.
The projected CAGR of medical polyethylene during the analysis period of 2022 to 2030 is 6.1%.
The prominent players of the global medical polyethylenemarketinvolve Borealis AG, LyondellBasell Industries N.V., SABIC, Du Pont De Nemours Inc., INEOS, DOW Chemicals, Orthoplastics Ltd., SINOPEC, Petrochina, Eastman Chemical Company, Mitsui Chemicals, Inc., and Celanese Corporation.
Asia-Pacific held the dominating share for medical polyethylene during the analysis period of 2022 to 2030
North America region exhibited fastest growing CAGR for medical polyethylene during the analysis period of 2022 to 2030
The rapidly increasing pharmaceutical devices market, rising aging populations, consequential medical procedures, and increasing demand for polyethylene-based surgical instruments are the prominent factors that fuel the growth of global medical polyethylene market
Based on application, medical tubing segment held the maximum share for medical polyethylene market in 2021