Artificial Intelligence
Medical Plastic Market Size is projected to reach USD 57 Billion by 2030, growing at a CAGR of 7.8%: Straits Research
New York, United States, July 18, 2022 (GLOBE NEWSWIRE) — The medical plastics industry is reshaping the healthcare sector. Previously made of steel, ceramic, or glass, this long-lasting, low-cost material is now used to manufacture equipment. Medical plastic is now used in a wide range of patient treatment procedures. Medical plastic is designed to withstand heat, chemicals, and corrosion. As a result, it can withstand multiple sterilization cycles and any other medical or bodily fluids that it comes into contact with. Medical-grade polypropylene and polycarbonate are two common polymers used in various applications ranging from MRI casings to surgical tools.
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Growing Utilization of Medical Devices Propels the Medical Plastic Market
The rise of the home healthcare sector has increased demand for medical devices, owing to the lower costs involved compared to hospital and intensive care. Hospitals’ various medical tests to diagnose patients have also contributed to the rising demand for medical devices. The growing demand for better healthcare facilities and an increase in hospitals have also fueled the medical devices sector’s growth. Hence, medical device availability, awareness, affordability, and adaptability are essential factors influencing demand.
Rise in Healthcare Expenditure to Create New Market Opportunities Worldwide
Healthcare expenditure is rising. The rising incidence of chronic diseases, combined with the expansion of insurance coverage in the United States, is expected to drive North American healthcare expenditure. Due to rising government investment in healthcare infrastructure, Mexico will likely emerge as a significant factor driving the market in North America.
Brazil’s healthcare industry strengthening is expected to drive Central and South American healthcare expenditure. Furthermore, rising consumer wealth in economies like China and India is expected to fuel the Asian healthcare industry. The solid healthcare industry in India, coupled with the expansion of medical tourism, is expected to drive demand for medical plastics, resulting in market growth.
Report Scope
| Report Metric | Details |
| Market Size | USD 57 Billion by 2030 |
| CAGR | 7.8% (2022-2030) |
| Historical Data | 2019-2020 |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Plastic Type, Application, and Regions |
| Geographies Covered | North America, Europe, Asia-Pacific, LAME and Rest of the World |
| Key Companies Profiled/Vendors | Rochling Group, Nolato AB, Nolato GW, SABIC, Saint-Gobain Performance Plastics, Eastman Chemical Company, Orthoplastics Ltd, Celanese Corporation, Tekni-Plex, Dow Inc, Solvay S.A., HMC Polymers, Proxy Biomedical Ltd, Trelleborg Sealing Solutions, DuPont de Nemours, Inc, NuSil Technology LLC, and Trinseo S.A. |
| Key Market Opportunities | Rising Expenditure in Healthcare Industry Worldwide |
| Key Market Drivers | Growing Availability of Medical Devices |
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Regional Insights
North America holds the largest share of medical plastic and is expected to grow at a CAGR of 7.7%. One of the major trends influencing the North American market is the rise in per capita healthcare spending on health insurance in the United States. This is expected to boost demand for generic drugs and medical devices in the coming years, propelling the North American medical plastics market over the forecast period.
Asia-Pacific is the fastest-growing region. It is expected to reach USD 15,890 million at a CAGR of 8.7% by 2030. The region’s medical plastics market is anticipated to increase substantially as plastics are growing in packaging, wound care, and mobility aids, among other applications. Likewise, surging hospital service and safety norms should drive the medical plastics market over the forecast period.
Europe stands second in the global medical plastic market. Plastics are used in the medical industry to manufacture various products such as catheters, prosthetic legs, artificial corneas, hearing aids, and pill capsules. Plastics are used for manufacturing implants in different skin grafting surgeries such as reduction, augmentation, and corrective. The growing use of these implants in advanced medical facility infrastructure in Europe is expected to drive the product demand over the forecast period.
Key Highlights
- The global medical plastic market was worth USD 28 billion in 2021. It is expected to reach USD 57 billion by 2030, generating a CAGR of 7.8% during the forecast period (2022–2030).
- Type-wise, the global medical plastic market is segmented into Commodity Plastics, Engineering Plastics, High-Performance Plastics, Silicones, and Others. Commodity Plastic accounts for the largest share and is expected to grow at a CAGR of 6.5% by 2030. Commodity plastics have numerous applications in the medical and healthcare industries. Various commodity plastics, such as polypropylene, PVC, polyethylene, and polystyrene, have a wide range of applications based on the function of the devices and equipment in which they are used. The rising demand for commodity plastics will propel the medical plastics market forward.
- Application-wise, the global medical plastic market is segmented into Medical Device Packaging, Medical Components, Orthopedic implants, Packaging, Orthopedic Soft Goods, Wound Care, Cleanroom Supplies, BioPharm Devices, Mobility Aids, Sterilization and Infection Prevention, Tooth Implants, Denture Base Material, Other Implants, and Others. Medical Component holds the largest market share and is expected to grow at a CAGR of 8.7% by 2030. Polypropylene is expected to remain the most popular plastic in medical components due to its superior properties, such as sterilization and impact resistance. Furthermore, the growing population, combined with an increase in the prevalence of chronic diseases, is expected to drive demand for medical components.
- Region-wise, the global medical plastic market is segmented into North America, Europe, Asia-Pacific, Central and South America, and the Middle East and Africa. Asia-Pacific is the fastest-growing region.
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Key players in the global medical plastic market
- Rochling Group
- Nolato AB
- Nolato GW
- SABIC
- Saint-Gobain Performance Plastics
- Eastman Chemical Company
- Orthoplastics Ltd
- Celanese Corporation
- Tekni-Plex
- Dow Inc
- Solvay S.A.
- HMC Polymers
- Proxy Biomedical Ltd
- Trelleborg Sealing Solutions
- DuPont de Nemours Inc
- NuSil Technology LLC
- Trinseo S.A.
Global Medical Plastic Market: Segmentation
By Plastic Type
- Commodity Plastic
- Engineering Plastic
- High-Performance Plastic
- Silicones
- Others
By Application
- Medical Device Packaging
- Medical Components
- Orthopedic Implant
- Packaging
- Orthopedic Soft Goods
- Wound Care
- Cleanroom Supplies
- BioPharm Devices
- Mobility Aids
- Sterilization and Infection Prevention
- Tooth Implants
- Denture Base Material
- Other Implants
- Others
By Regions
- North America
- Europe
- Latin America
- Asia-Pacific
- The Middle East and Africa
TABLE OF CONTENT
- Introduction
- Market Definition
- Market Scope
- Research Methodology
- Primary Research
- Research Methodology
- Assumptions & Exclusions
- Secondary Data Sources
- Market Overview
- Report Segmentation & Scope
- Value Chain Analysis: Medical Plastic Market
- Key Market Trends
- Drivers
- Restraints
- Opportunities
- Porter’s Five Forces Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Threat of Substitution
- Threat of New Entrants
- Competitive Rivalry
- Market Share Analysis
- Plastic Type Overview
- Introduction
- Market Size & Forecast
- Commodity Plastic
- Market Size & Forecast
- Engineering Plastic
- Market Size & Forecast
- High-Performance Plastic
- Market Size & Forecast
- Introduction
- Applications Overview
- Introduction
- Market Size & Forecast
- Medical Device Packaging
- Market Size & Forecast
- Medical Components
- Market Size & Forecast
- Introduction
- Regional Overview
- Introduction
- Market Size & Forecast
- America
- North America
- U.S.
- By Plastic Type
- By Applications
- Canada
- By Plastic Type
- By Applications
- Mexico
- By Plastic Type
- By Applications
- Latin America
- By Plastic Type
- By Applications
- Europe
- Market Size & Forecast
- Germany
- By Plastic Type
- By Applications
- France
- By Plastic Type
- By Applications
- U.K.
- By Plastic Type
- By Applications
- Italy
- By Plastic Type
- By Applications
- Spain
- By Plastic Type
- By Applications
- Rest of Europe
- By Plastic Type
- By Applications
- Asia Pacific
- Market Size & Forecast
- Japan
- By Plastic Type
- By Applications
- China
- By Plastic Type
- By Applications
- Australia
- By Plastic Type
- By Applications
- India
- By Plastic Type
- By Applications
- South Korea
- By Plastic Type
- By Applications
- Rest of Asia-Pacific
- By Plastic Type
- By Applications
- Middle East & Africa
- Market Size & Forecast
- Saudi Arabia
- By Plastic Type
- By Applications
- South Africa
- By Plastic Type
- By Applications
- Kuwait
- By Plastic Type
- By Applications
- Rest of Middle East & Africa
- By Plastic Type
- By Applications
- Introduction
- Company Profile
- Rochling Group
- Company Overview
- Financial Performance
- Recent Developments
- Product Portfolio
- Nolato AB
- Company Overview
- Financial Performance
- Recent Developments
- Product Portfolio
- Nolato GW
- Company Overview
- Financial Performance
- Recent Developments
- Product Portfolio
- SABIC
- Company Overview
- Financial Performance
- Recent Developments
- Product Portfolio
- Rochling Group
Table of Content and Figure @ https://straitsresearch.com/report/medical-plastic-market/toc
Market News
- In April 2022, Solvay, a leading global polymer supplier, unveiled a novel medical grade of Ixef PARA for single-use surgical tools and biopharma processing components with moving blades.
- In December 2021, SABIC unveiled a novel portfolio of bio-based ULTEM resins that can provide environmental advantages while preserving superior efficiency and processability as original ULTEM materials.
- In December 2021, Celanese Corporation announced the closing of its acquirement of Exxon Mobil Corporation’s Santoprene TPV elastomers company.
News Media
Adoption of Bioplastics and Biopolymers Thrive Towards Sustainability Goals
Widescale Applications of Plastics to Ascend the Blow Molded Plastic Market
Have a Look at the Related Research Report
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IoT Medical Devices Market: Information by Product, Type (Wearable, Implantable, Stationary), Connectivity Technology (Bluetooth, Wi-Fi), End User and Regional Outlook – Forecast Till 2026
About Straits Research Pvt. Ltd.
StraitsResearch is a market intelligence company providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision-makers. Straits Research Pvt. Ltd. provides actionable market research data, especially designed and presented for decision making and ROI.
Whether you are looking at business sectors in the next town or crosswise over continents, we understand the significance of being acquainted with the client’s purchase. We overcome our clients’ issues by recognizing and deciphering the target group and generating leads with utmost precision. We seek to collaborate with our clients to deliver a broad spectrum of results through a blend of market and business research approaches.
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BOSTON, April 18, 2024 /PRNewswire/ — The RepTrak™ Company, the world’s leading reputation data and insights company, released its annual Global RepTrak 100 report. Utilizing its advanced reputation monitoring software, RepTrak gathered data from more than 243,000 survey responses across 14 major economies to rank the world’s 100 most reputable companies. They share that ranking alongside a full analysis of global corporate reputation trends and corresponding public sentiment in the 2024 report.
After two years of consecutive Reputation Score declines, this year’s Score is back up with an increase from 73.2 in 2023 to 73.8 in 2024. It’s a small increase after 2023’s full one-point drop. However, it’s an encouraging sign that companies have begun to recover from reputation falls driven by many challenges: macroeconomic issues, workplace difficulties, product problems, and corporate responsibility skepticism.
“This year’s report underscores a pivotal shift in the corporate landscape, spotlighting the remarkable adaptability and dedication of the Top 100 companies in responding to the dynamic needs of stakeholders,” states RepTrak CEO Mark Sonders. “The companies featured in our report are not just riding the wave of change; they are the ones steering it, proving that the best approach to business is one that embraces evolution and champions progress.”
RepTrak’s report explores how people thought, felt, and acted toward companies over the past year. Findings include notable increases in Conduct and Citizenship efforts, stakeholders’ rising willingness to invest, culturally resonant brand communications, and ESG Scores that soared despite skepticism around the acronym.
To read the full 2024 Global RepTrak 100 report, please visit: www.reptrak.com/globalreptrak
About RepTrak
The RepTrak™ Company is the world’s leading reputation data and insights company. We help companies by organizing and grading a variety of reputational elements, offering a real-world report card on their corporate reputation. Subscribers to the RepTrak program use our predictive insights to protect business value, improve return on investment, and increase their positive impact on society. RepTrak’s pairing of advanced metrics and dedicated reputation advisors offers clients an actionable analysis of their reputation data, aligning business objectives with stakeholder sentiment across different markets and sectors.
Established in 2004, The RepTrak Company owns the world’s largest reputation benchmarking database, gathering over 1 million company ratings per year used by CEOs, boards, and executives in more than 60 countries worldwide. For more information, please visit: www.reptrak.com
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Artificial Intelligence
Group-IB takes part in a global operation to cripple Canadian Phishing-as-a-Service provider LabHost
SINGAPORE, April 18, 2024 /PRNewswire/ — Group-IB, a leading cybersecurity company aimed at investigating, preventing, and fight digital crime announced today that it participated in a coordinated global takedown operation against prominent Canadian Phishing-as-a-Service (PhaaS) provider LabHost, which has led to the arrest of 37 suspects across the United Kingdom and around the world by law enforcement agencies. As part of the operation, Group-IB also conducted an extensive analysis of LabHost’s criminal history and infrastructure, including insights into LabHost’s administrative platform and the services it provides to its purported user base which exceeds 2,000 subscribers worldwide, who illegally obtained around 480,000 card numbers, 64,000 pin numbers, and over 1 million passwords from victims used for websites and other online services, according to law enforcement agencies.
“By leveraging our Threat Intelligence and Digital Risk Protection, we are able to identify and monitor phishing attacks and websites like those deployed by LabHost and its subscribers around the world, enabling us to actively alert and protect our customers, and in turn, their customers as well,” said Dmitry Volkov, Chief Executive Officer of Group-IB. “Today’s takedown operation demonstrates the agility and responsiveness of our decentralized Digital Crime Resistance Centers, and how quickly we can provide immediate and local assistance wherever our customers may be.”
First uncovered in late 2021, LabHost emerged as a fully automated Phishing-as-a-Service (PhaaS) platform, streamlining the creation of phishing websites meticulously mirroring the interface and functionality of prominent banking, postal, and financial entities, aimed at intercepting, seizing, and profiting from users’ personal, credit card, and online banking credentials. Users are prompted to select from various “membership plans,” tailored to target businesses and individuals in either the United States and Canada, or globally, akin to mobile subscription models. These plans encompass “standard,” “premium,” and “world membership” tiers, priced between US$179 and US$300 monthly, with options for monthly, quarterly, or annual billing cycles.
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Artificial Intelligence
Malaysia Data Center Market to Witness $3.97 Billion Investment Opportunities by 2029, Get Insights on 34 Existing Data Centers and 33 Upcoming Facilities across Malaysia – Arizton
CHICAGO, April 18, 2024 /PRNewswire/ — According to Arizton’s latest research report, the Malaysia data center market is growing at a CAGR of 13.92% during the forecast period.
To Know More, Download the Free Sample Report: https://www.arizton.com/market-reports/malaysia-data-center-market-size-analysis
Malaysia Data Center Market Report Scope
Report Attributes
Details
Market Size (Investment)
USD 3.97 Billion (2029)
Market Size (Area)
883 Thousand Sq. Feet (2029)
Market Size (Power Capacity)
163 MW (2029)
CAGR Investment (2023-2029)
13.92 %
Colocation Market Size (Revenue)
USD 1.23 Billion (2029)
Historic Year
2020-2022
Base Year
2023
Forecast Year
2024-2029
Over the next few years, Malaysia is poised to witness significant growth in data center investments, driven by the influx of operators like AirTrunk, Equinix, Princeton Digital Group, and other leading companies. Key hubs like Cyberjaya, Kuala Lumpur, and Johor Bahru are expected to see heightened activity, hosting most of the country’s data centers.
The wholesale colocation sector is projected to experience a revenue surge fueled by major cloud players like Microsoft, Google, and AWS. These companies have unveiled plans to establish dedicated cloud regions within Malaysia, with expected timelines for deployment within the next one to two years. This trend underscores Malaysia’s growing importance as a regional hub for data infrastructure and cloud services.
Malaysia is among the top expensive markets globally for developing data centers. Malaysia’s data center construction cost in 2023 stood at about $8.5-$10 million per MW, making it the costliest market in the APAC region after Singapore and Jakarta.
Investment Opportunities in the Malaysia Data Center Market
In November 2023, ST Telemedia Global Data Centres announced its plans to develop a new data center campus in Johor. The construction of the first building is likely to begin soon and become operational by 2025. The company formed a joint venture with Basis Bay to develop a new data center campus with two buildings, Cyberjaya DC.2 and STT Kuala Lumpur 1 in Cyberjaya, Selangor.In October 2023, EDGNEX Data Centres by DAMAC announced its plans to enter the APAC market for the first time; the company is considering a facility in Cyberjaya, Selangor. The expected investment can cross the $52 million mark.In October 2023, Infinaxis Data Centre Holdings, the joint venture between Gaw Capital Partners and A3 Capital, announced the construction of its first data center facility in Cyberjaya. The facility will have 10 data halls and will likely be operational by Q2 2025.In September 2023, EdgeConneX announced its plans to expand its footprint in Malaysia with the development of three data centers sites across Bukit Jalil, Kuala Lumpur, and Cyberjaya. The company plans to develop data centers in partnership with Cyberview.To Know More, Download the Free Sample Report: https://www.arizton.com/market-reports/malaysia-data-center-market-size-analysis
Market Trends
According to IRENA, in 2022, hydroenergy accounted for around 69% of the renewable energy capacity in Malaysia, followed by solar energy, which contributed about 21%, along with a 10% contribution by bioenergy.Malaysia aims to achieve the target of net-zero carbon emissions by 2050. To make this goal a reality, WWF-Malaysia is partnering with Boston Consulting Group to develop an independent joint study on the country’s optimal net zero pathway.The government of Malaysia has established a green tariff scheme to support its carbon-neutrality target. Under the scheme, subscribers can get electricity from solar or hydro sources instead of fossil fuel sources.Mergers, acquisitions, joint ventures, and partnerships are key strategies employed by operators to expand their portfolios and global footprint. For example:
In December 2023, Chindata Group merged with BCPE Chivalry Merger Sub, a wholly owned subsidiary of BCPE Chivalry Bidco, completing its transition to a private company from a public one.November 2023 saw ST Telemedia Global Data Centres, in a joint venture with Basis Bay, announcing plans to develop a new data center campus with two buildings in Cyberjaya, Selangor.A3 Capital and Gaw Capital Partners formed a joint venture in February 2023 to establish Infinaxis Data Centre Holdings to develop and operate data centers across Malaysia and Southeast Asia.MN Holdings, an engineering services and solutions company, signed a Memorandum of Understanding (MoU) in April 2023 with Shanghai DC-Science, outlining an investment of approximately $600 million to develop a data center site at the Sedenak Tech Park, Johor.Why Should You Buy This Research?
Market size is available regarding investment, area, power capacity, and Malaysia colocation market revenue.An assessment of the data center investment in Malaysia by colocation, hyperscale, and enterprise operators.Investments in the area (square feet) and power capacity (MW) across cities in the country.A detailed study of the existing Malaysia data center market landscape, an in-depth market analysis, and insightful predictions about market size during the forecast period.Snapshot of existing and upcoming third-party data center facilities in MalaysiaFacilities Covered (Existing): 34Facilities Identified (Upcoming): 33Coverage: 9 LocationsExisting vs. Upcoming (Area)Existing vs. Upcoming (IT Load Capacity)Data Center Colocation Market in MalaysiaColocation Market Revenue & Forecast (2023-2029)Wholesale vs. Retail Colocation Revenue (2023-2029)Retail Colocation PricingWholesale Colocation PricingThe Malaysia data center market investments are classified into IT, power, cooling, and general construction services with sizing and forecast.A comprehensive analysis of the latest trends, growth rate, potential opportunities, growth restraints, and prospects for the industry.Business overview and product offerings of prominent IT infrastructure providers, construction contractors, support infrastructure providers, and investors operating in the industry.A transparent research methodology and the analysis of the demand and supply aspects of the industry.Buy this Research @ https://www.arizton.com/market-reports/malaysia-data-center-market-size-analysis
Post-Purchase Benefit
1hr of free analyst discussion10% off on customizationThe Report Includes the Investment in the Following Areas:
IT InfrastructureServersStorage SystemsNetwork InfrastructureElectrical InfrastructureUPS SystemsGeneratorsSwitches & SwitchgearsPDUsOther Electrical InfrastructureMechanical InfrastructureCooling SystemsRack CabinetsOther Mechanical InfrastructureCooling SystemsCRAC and CRAHChillersCooling Tower and Dry CoolersOther Cooling UnitsGeneral ConstructionCore & Shell DevelopmentInstallation & Commissioning ServicesBuilding & Engineering DesignFire Detection & Suppression SystemsPhysical SecurityData Center Infrastructure Management (DCIM)Tier StandardTier I & Tier IITier IIITier IV GeographySelangorJohorOther StatesVendor Landscape
IT Infrastructure Providers
Cisco SystemsDell TechnologiesFujitsuHewlett Packard EnterpriseHuawei TechnologiesIBMInspurLenovoNetAppData Center Construction Contractors & Sub-Contractors
Advance Power EngineeringAsima ArchitectsAVO TechnologyB-Global TechCTC-GlobalCSF GroupCyclect GroupDSCO GroupGamudaGCM TechnologiesHSS EngineersISGKienta Engineering ConstructionLSK EngineeringMES GroupM+W Group (Exyte)MN HoldingsNakanoNTT FACILITIESPowerware SystemsS5 EngineeringShaw ArchitectSunway Construction GroupUnique CentralSupport Infrastructure Providers
ABBCaterpillarCumminsEatonFuji ElectricHITEC Power ProtectionKOHLER PowerLegrandMitsubishi ElectricNarada Power SourcePiller Power SystemsRittalRolls-RoyceSchneider ElectricSiemensSocomecSTULZTraneVertivData Center Investors
Bridge Data CentresEdge CentresGDS ServicesIRIX (PP TELECOMMUNICATION)Keppel Data CentresNTT DATAOpen DCTM OneVantage Data CentersYTL Data Center HoldingsNew Entrants
AirTrunkAmazon Web Services (AWS)EdgeConneXEquinixFutureData (Cyclect Group + TSG Group)Googlei-BerhadInfinaxis Data Centre HoldingsMN Holdings + Shanghai DC-ScienceMicrosoftNEXTDCPrinceton Digital GroupRegal OrionSingtelST Telemedia Global Data CentresYondrTo Know More, Download the Free Sample Report: https://www.arizton.com/market-reports/malaysia-data-center-market-size-analysis
Key Questions Answered in the Report:
What factors are driving the Malaysian data center industry?
How big is the Malaysia data center market?
How many MW of power capacity will be added across Malaysia during 2024 to 2029?
What is the growth rate of the Malaysia data center market?
Which states are included in the Malaysia data center market report?
Get the Detailed TOC @ https://www.arizton.com/market-reports/malaysia-data-center-market-size-analysis
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We offer comprehensive market research reports on consumer goods & retail technology, automotive and mobility, smart tech, healthcare, life sciences, industrial machinery, chemicals, materials, I.T. and media, logistics, and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.
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