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Global Biodegradable Medical Plastics Market: By Application: Medical Devices, Medical Packaging, Others; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, EMR’s Key Indicators for Demand; Competitive Landscape; Events and Developments
Global Biodegradable Medical Plastics Market Outlook
The global biodegradable medical plastics market attained a value of nearly USD 3.1 billion in 2020. The industry is further expected to grow at a CAGR of 11.9% during the forecast period of 2023-2028.
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The increasing demand from the healthcare industry for environmentally friendly and sustainable products has motivated suppliers to produce biodegradable medical plastics using raw materials obtained from plants, which is aiding the growth of the biodegradable medical plastics market. It is possible to reuse the waste produced during hemp processing to generate hemp-based biodegradable plastics. It is also possible to use ethanol produced from sugarcane to produce green polyethylene. To create biodegradable polycarbonate, naturally occurring sugar called thymidine is also combined with carbon dioxide. Likewise, microorganisms that feed on seaweed can be used to produce biodegradable plastics like polyhydroxyalkanoate.
Market Segmentation
Biodegradable plastics are those that can be decomposed into the water, carbon dioxide, and biomass by the action of living organisms, generally microbes. With the rising environmental concern, the production of biodegradable plastics in the medical sector has increased and, thus, they are frequently manufactured using renewable raw materials, microorganisms, petrochemicals, or a combination of all three.
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The global biodegradable medical plastics industry can be segmented into applications and regions.
Based on its application, the industry is segmented into:
- Medical Devices
- Medical Packaging
- Others
The EMR report looks into the regional biodegradable medical plastics markets like North America, Latin America, the Asia Pacific, Europe, and the Middle East and Africa.
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Market Analysis
With the growing environmental concern, the demand for biodegradable medical plastics has increased as the consumers are aiming to curb the amount of plastic generated from the medical sector. Due to the change in customer preference towards eco-friendly products, along with the growing use of biodegradable plastics for packaging, the biodegradable medical plastics market is witnessing a significant development globally. The market is also being driven by the implementation of strict laws and prohibitions against the use of plastic bags and other plastic products.
Competitive Landscape
The report presents a detailed analysis of the following key players in the global biodegradable medical plastics industry, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- Arkema Group
- BASF SE
- Corbion
- Evonik Industries AG
- Koninklijke DSM N.V.
- Others
The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Application, Region |
| Breakup by Application | Medical Devices, Medical Packaging, Others |
| Breakup by Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | Arkema Group, BASF SE, Corbion, Evonik Industries AG, Koninklijke DSM N.V., Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Biodegradable Medical Plastics Market Analysis
8.1 Key Industry Highlights
8.2 Global Biodegradable Medical Plastics Historical Market (2018-2022)
8.3 Global Biodegradable Medical Plastics Market Forecast (2023-2028)
8.4 Global Biodegradable Medical Plastics Market by Application
8.4.1 Medical Devices
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Medical Packaging
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.3 Others
8.5 Global Biodegradable Medical Plastics Market by Region
8.5.1 Market Share
8.5.1.1 North America
8.5.1.2 Europe
8.5.1.3 Asia Pacific
8.5.1.4 Latin America
8.5.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2018-2022)
9.3.2 Forecast Trend (2023-2028)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2018-2022)
9.4.2 Forecast Trend (2023-2028)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2018-2022)
9.5.2 Forecast Trend (2023-2028)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Competitive Landscape
12.1 Market Structure
12.2 Company Profiles
12.2.1 BASF SE
12.2.1.1 Company Overview
12.2.1.2 Product Portfolio
12.2.1.3 Demographic Reach and Achievements
12.2.1.4 Certifications
12.2.2 Corbion NV
12.2.2.1 Company Overview
12.2.2.2 Product Portfolio
12.2.2.3 Demographic Reach and Achievements
12.2.2.4 Certifications
12.2.3 Amcor PLC
12.2.3.1 Company Overview
12.2.3.2 Product Portfolio
12.2.3.3 Demographic Reach and Achievements
12.2.3.4 Certifications
12.2.4 Mondi Plc
12.2.4.1 Company Overview
12.2.4.2 Product Portfolio
12.2.4.3 Demographic Reach and Achievements
12.2.4.4 Certifications
12.2.5 Others
13 Industry Events and Developments
List of Key Figures and Tables
1. Global Biodegradable Medical Plastics Market: Key Industry Highlights, 2018 and 2028
2. Global Biodegradable Medical Plastics Historical Market: Breakup by Application (USD Million), 2018-2022
3. Global Biodegradable Medical Plastics Market Forecast: Breakup by Application (USD Million), 2023-2028
4. Global Biodegradable Medical Plastics Historical Market: Breakup by Region (USD Million), 2018-2022
5. Global Biodegradable Medical Plastics Market Forecast: Breakup by Region (USD Million), 2023-2028
6. North America Biodegradable Medical Plastics Historical Market: Breakup by Country (USD Million), 2018-2022
7. North America Biodegradable Medical Plastics Market Forecast: Breakup by Country (USD Million), 2023-2028
8. Europe Biodegradable Medical Plastics Historical Market: Breakup by Country (USD Million), 2018-2022
9. Europe Biodegradable Medical Plastics Market Forecast: Breakup by Country (USD Million), 2023-2028
10. Asia Pacific Biodegradable Medical Plastics Historical Market: Breakup by Country (USD Million), 2018-2022
11. Asia Pacific Biodegradable Medical Plastics Market Forecast: Breakup by Country (USD Million), 2023-2028
12. Latin America Biodegradable Medical Plastics Historical Market: Breakup by Country (USD Million), 2018-2022
13. Latin America Biodegradable Medical Plastics Market Forecast: Breakup by Country (USD Million), 2023-2028
14. Middle East and Africa Biodegradable Medical Plastics Historical Market: Breakup by Country (USD Million), 2018-2022
15. Middle East and Africa Biodegradable Medical Plastics Market Forecast: Breakup by Country (USD Million), 2023-2028
16. Global Biodegradable Medical Plastics Market Structure
Key Questions Answered in the Report
In 2020, the global biodegradable medical plastics market attained a value of nearly USD 3.1 billion.
The market is projected to grow at a CAGR of 11.9% between 2023 and 2028.
The major drivers of the industry, such as increasing demand for environmentally friendly and sustainable products, growing environmental concern, and the implementation of strict laws and prohibitions by the government against the use of plastic bags and other plastic products, are expected to aid the market growth.
The key market trend guiding the industry growth includes the changing consumer preference towards eco-friendly products.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
Medical devices and medical packaging, among others, are the leading application segments of the product in the industry.
The major players in the industry are Arkema Group, BASF SE, Corbion, Evonik Industries AG, and Koninklijke DSM N.V., among others.
Analyst Review
The global biodegradable medical plastics market attained a value of USD 3.1 billion in 2020, driven by increasing demand for environmentally friendly and sustainable products. Aided by the implementation of strict laws and prohibitions by the government against the use of plastic bags and other plastic products, the market is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 11.9%.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on applications, the biodegradable medical plastics industry can be segmented into medical devices, medical packaging, and others. The major regional markets for biodegradable medical plastics are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Arkema Group, BASF SE, Corbion, Evonik Industries AG, Koninklijke DSM N.V., and others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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