Medical Plastics Market Growing Rapidly
Nondisposables comprise slightly over 50% of total volume. Commodity thermoplastics currently dominate the market with just under 50% of total volume, having a consumption level of 956 million pounds in 1999. This market will total 1,240 million pounds as it increases at an AAGR of 5.3% during the 5-year forecast period.
The fastest growing market will be that for TPEs with an AAGR of 7.3% between 1999 and 2004. This market will expand from 90 million pounds in 1999 to 128 million pounds by 2004. Styrenics, engineering resins, and thermosets are expected to experience AAGRs in the range of 6% to 6.5% each during the forecast period. In the aggregate, a slight shift from commodity thermoplastics to engineering resins, styrenics, thermosets, and TPEs is forecast.
Major nondisposable markets are testing/diagnostic equipment, surgical instrument and related equipment, prostheses/implants, dental, and ophthalmics. Disposable products include syringes, kits, labware, tubing, blood bags, utensils, gloves, trays, catheters, and thermometers.
Issues that will affect the industry's growth and demand for its products include:
- Changing sterilization techniques
- Increased usage of disposable products due to concerns over infectious diseases
- Changing FDA regulations
- Shift in healthcare payments from individual physicians and hospitals to HMOs, nursing facilities and centralized purchasing
- Trend toward "defensive medicine" primarily due to increased liability law suits
- An aging U.S. population
- Advances in diagnostic imaging and laser surgery as well as polymers with improved biocompatible properties
- Continued drive toward industry cost containment
- Recent emphasis on PVC alternatives
RP-121N Plastics for Medical Devices is available for $3450 from Business Communications Co. Inc., 25 Van Zant Street, Norwalk, CT 06855. Tel: 203-853-4266, ext. 309. Fax: 203-853-0348. E-mail: publisher@buscom.com.