List of Profitable Manufacturing Business Ideas, Projects on Surgical, Medical Plastics
Medical Plastics Market is the critical component for the advancing medical devices industry. Since past decade, the market has experienced a rapid upsurge in terms of technological advancements, increasing automation, and integrating the entire value chain of the industry. Rising urbanization, increasing awareness regarding the disposable devices has catalyzed the growth of medical plastics market.
Increasing aging population has incredibly improved the demand for medical devices and hence can be attributed as the major drivers for global medical plastics market. Increasing the demand for more medical technologies, increasing number of manufacturing industries and application sectors under this market have together proved to be the key factors of growth in this market. Mergers & acquisitions along with geographic expansions are being adopted by companies many companies across the industry. Number of patents being filed for medical devices & applications by market players, have also seen an upsurge during the last decade.
The medical device industry is driven by global population growth, increased access for consumers to healthcare services—especially in developing economies—and growing replacement of metal parts in surgical components, according to the report. In addition, the development of advanced materials with improved strength and performance will push the market forward.
The medical plastics market can be divided into by type of plastics used, by application they are catered to and by geography. Based on the commercially available types the market is classified as thermoplastics and engineering plastics. Engineering plastics is the fastest growing segment and is estimated to see an increase in the near future. The demand of this segment is mainly driven due to its better thermal characteristics than the more broadly used thermoplastics. Engineering plastics also have their own set of unique properties which make them adaptable for many applications. Thus, the application of engineering plastic is extensive and is growing at a very fast pace.
Medical Plastic Market Revenue, 2016-2021 ($ Million)
The medical plastics market is projected to grow from USD 13.85 Billion in 2016 to USD 21.06 Billion by 2022, at a CAGR of 7.3% during the forecast period.
The industry is driven by the global population growth, increasing access to the consumers towards healthcare services, primarily in the developing economies, and growing substitution of the metal parts in surgical components. In addition, development of advanced materials with improved strength and performance is expected to benefit the market growth
The industry is characterized by extensive regulations enforced regarding the performance of the products in medical devices. In addition, the industry is expected to be affected by the rejection of Polyvinyl chloride due to concerns regarding the effects the product usage on human health.
Increasing demand for medical grade plastics owing to superior properties such as overall device weight reduction coupled with the development of premium grade plastics is expected to drive the market growth over the forecast period.
The global population has exhibited a sustained growth over the past few years leading to an increasing demand for healthcare devices over the forecast period. The resultant growth of the industry envisages the rise in the demand for premium grade plastics for use in medical devices leading to market growth.
U.S. Medical Plastics Market Revenue, 2014 – 2025 (USD Million)
The global medical plastic market size is expected to reach USD 33.6 billion by 2025. For the last few years, the disposable market has been growing continuously and trends predict strong growth for the near future. Products with enhanced performance, infection prevention and efficacy are fuelling the demand of medical disposables globally. Demand for disposable devices is increasing in emerging economies, as these countries are modernizing their healthcare infrastructure. The growing presence of medical facilities in developing countries and growing geriatric population in developed countries are the major growth drivers for the global medical disposables market.
The global market for disposable medical products has experienced robust growth over the past two decades, averaging 12.5% per year. The market will be dominated by the United States, China, Japan, Russia, Germany, France, Brazil, India, Italy, and the United Kingdom, who will comprise the 10 largest national markets, combining to absorb over two-thirds of the total value of global demand in 2018. The United States is the largest market for disposable medical devices closely followed by Europe and Asia. The market in developing countries keeps growing, mainly due to economic growth; increased spending by the respective governments on healthcare and the increased purchasing power of the general public.
Here are few Projects for Startup:
INFUSION SET AND BLOOD TRANSFUSION SET
Infusion therapy is a type of medical treatment in which medication is delivered directly into the body via a blood vessel, the spinal cord, or a muscle. This type of treatment took place on an inpatient basis, with the patient staying in the hospital and being monitored during the course of the treatment. Read more
BLOOD BAGS
Blood bag is a disposable bio-medical device used for collection, storage, transportation and transfusion of human blood and blood components. The system consists of a single or multiple bag connecting with tubing, needle, needle cover, clamp etc. Read more
DISPOSABLE NEEDLES
Disposable needles are widely used by doctors for injection purpose with the help of syringes. With the increase in population in our country, requirement of medicine and injections has increased. For more strength of people more number of needles is required with syringes. Read more
SURGICAL BLADE & DISPOSABLE SCALPEL
A scalpel is a small but extremely sharp knife used for surgery, anatomical dissection, and various arts and crafts. Scalpels may be disposable or re-usable. Scalpel blades are usually of hardened and tempered steel. Surgical scalpels consist of two parts, a blade and a handle. Read more
SURGICAL COTTON
Surgical cotton is also known as absorbent cotton or cotton wool. It is mainly used for medical purposes in hospitals, nursing homes, dispensaries at home (for first aid) etc. because of its high fluid absorbency. It is better known among masses as absorbent cotton. Read more
IMPLANTABLE SURGICAL SUTURE (BIOMEDICAL TEXTILE)
A fibrous protein comprising most of the white fibre in the connective tissue of animals and man, especially in the skin muscles and tendous. The most abundant proline is the animal kingdom, it is rich in proline and hydroxyproline collagen is found in connective tissue and also in bones. Read more
SURGICAL COTTON & BANDAGES (EOU)
Surgical cotton Industry is mainly limited to small and cottage scale units. Bengal chemical & pharmaceutical works Ltd. is the key manufacture of surgical cotton and Bandages. Read more
BLACK BRAIDED SILK SURGICAL SUTURE
There are so many fibers available which has property of non-absorbing among those fibers are nylon, Terelene, Polyester etc. are synthetic fiber and silk is one of the natural fibres which has no side effect on the body and costly items. Read more
SURGICAL GLOVES
The powder-free and synthetic disposable latex gloves market is anticipated to thrive in the next three to five years due to increased healthcare spending and greater number of people being covered by insurance. The global market for disposable medical gloves generated $3 billion revenues in 2011. Read more
DISPOSABLE PLASTIC SYRINGES
Disposable syringes are a great innovation in the field of medical equipment. They are used for intramuscular and intravenous injections and are disposed of immediately after usage. The major advantages of using disposable syringes is that no infection is transmitted since the injection is disposed of immediately after use. Read more
SANITARY NAPKINS
Sanitary Napkins is one of the item of non-woven textile. It may come under speciality textile group. According to industry observers, India’s health care industry is expected to grow around 13 % per annum. The product has very good export potentiality. Read more
IV CANNULA (INTRAVENOUS CANNULA) AND BUTTERFLY NEEDLES
A Cannula is a tube that can be inserted into the body, often for the delivery or removal of fluid. An intravenous cannula is a flexible tube which when inserted into the body is used either to withdraw fluid or insert medication. Read more
COTTON BALL (HOSPITAL AND COSMETIC USE)
A cotton ball is a ball of soft fiber that is primarily used for medical or cosmetic purposes, but can be used for other purposes such as arts and crafts or cleaning. They originate from the cotton plant, which is a shrub that is found in sub-tropical and tropical regions throughout the world. Read more
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