Medical Plastic Extrusion Market - Introduction
Medical plastic extrusion is one of the effective methods for transforming the characteristics of raw plastic using a blend of additives. Custom medical plastic extrusion can combine the properties of advanced materials to enable specific performance characteristics for medical plastic tubing or plastic parts, and can form multi-lumen tubing or complex profiles to fit a wide range of applications. Materials used in medical plastics extrusion range from polyvinyl chloride (PVC) to polyurethanes to nylon co-polymers to polycarbonate to polyether ether ketone (PEEK) to silicone. Medical plastic extrusion process tends to change the physical, thermal, electrical, or aesthetic characteristics of the plastic. The process entails incorporation of an extensive range of additives, fillers, and reinforces to base resin in order to achieve a wide range of structural and pre-coloring properties. These are lightweight and bio-compatible. The cost of production is also low. Key applications of medical plastic extrusion include catheters and syringes, dental tools, diagnostic instruments, drug delivery devices, implants, medical bags, and surgical instruments.
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Medical Plastic Extrusion Market- Competitive Landscape
Key players operating in the global medical plastic extrusion market are focusing on capacity expansion and mergers. For instance,
- In August 2014, The Lubrizol Corporation acquired Vesta . The acquisition broadened Lubrizol's life science manufacturing capabilities, applications, and material portfolio with access to silicone and a range of other thermoplastics utilized in medical devices. In August 2017, The Lubrizol Corporation's LifeSciences business is investing US$ 10Mn for a significant capacity expansion at its silicone contract manufacturing site in Franklin, U.S.
The number of players, especially small- and medium-scale manufacturers, operating in the global medical plastic extrusion market is significantly large. Therefore, the market is highly fragmented. For instance,
- In December 2017, Solvay and Apollo Medical see growing interest in Veradel HC product as a potential game-changing material for medical microtube designs . Apollo Medical Extrusion offers single- and multi-lumen medical microtubing extruded from Solvay’s medical-grade Veradel HC A-301 NT polyethersulfone (PESU).
Founded in 1902, 3M is headquartered in Minnesota, U.S. The company is a diversified technology company with a global presence. The company operates through five business segments: industrial, safety & graphics, healthcare, electronics & energy, and consumer. The healthcare segment provides services to medical clinics and hospitals, pharmaceuticals, dental and orthodontic practitioners, health information systems, and food manufacturing and testing. 3M has been a leader of great business development strategies. The company is always open to adapt new things.
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Medica Europe BV.
Founded in 1957, Medica Europe BV is headquartered in Oss, Netherlands. The company formerly known as Maxxim Medical Europe BV, develops, manufactures, and markets a wide range of medical disposables. The company manufactures disposables for critical care units, interventional radiology centers, cardiac catheterization laboratories, and operating rooms. It markets products to clinics and health care providers through direct sales channels outside of the Netherlands and Belgium. Company’s has gained leading position in the non-latex examination gloves and custom procedure trays market. Media Europe BV has reported strong growth in the past few years.
Founded in 1992, Stradis Healthcare is headquartered in Peachtree Corners, U.S. The company manufactures and markets standard and custom surgical products. The company offers surgical/procedure packs for arthroscopic, endovenous, OBGYN, heart Cath, ophthalmic, oral, orthopedics, plastic, cornea/tissue bank, and veterinary applications; and sterile separates, such as OBGYN, ophthalmic, oral, and plastic sterile separates. It also provides contract packaging services that include custom assembly and sub-assembly, custom packaging, personalization by physician or facility with logo capabilities, sealing, sterile and non-sterile device manufacturing, sterilization, and validation services. It serves surgical centers, private practices, and purchasing networks in the United States and internationally.
Medical Plastic Extrusion Market – Dynamics
Technological advancements in the medical plastic extrusion used to prepare surgical products
Manufacturers of medical devices opt for different types of plastics based on cost effectiveness, raw material availability, and applicability. Conventional plastics such as PVC, PP, and PE account for significant share of the medical industry. Further manufacturers of medical devices focus on employing advanced plastics such as engineering thermoplastics. Technological developments in the manufacture of plastic with desired properties such as high absorbency and microbial resistance are reducing cross contamination in hospitals. This is expected to drive the manufacture of new and innovative medical plastic extrusion product in the near future.
Governments have taken initiatives to increase the use of technology in the manufacture of medical plastic extrusion. For Instance, the government of India has permitted 100% foreign direct investment (FDI). This initiative has increased participation of leading manufacturers of medical plastic extrusion & surgical supplier in the country.
Medical Plastic Extrusion Market– Segmentation
Based on the material, the Medical Plastic Extrusion market is segmented into
- Polyvinyl chloride (PVC)
- Polyethylene (PE)
- Polypropylene (PP)
- Polystyrene (PS)
- Engineering plastics
- Others (biopolymers and polyamides).
Based on the product type, the Medical Plastic Extrusion market is segmented into
- Splittable tubing
- Radiopaque fillers
- Etched liners
- Medical tubing
- Thermoplastics elastomer tubing
- Multi-lumen tubing
- Medical coextrusion
Based on the application, the Medical Plastic Extrusion market is segmented into
- Diagnostic instruments
- Medical bags
- Drug delivery devices
- Others (including breathing masks and incubators & autoclaves).
Based on the end-user, the Medical Plastic Extrusion market is segmented into
- Hospitals & Diagnostic Centers
- Pharmaceutical and Biotechnology Companies
- Academic and Research Institutes
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.