Medical Plastics Market to Hit $54.29 Billion by 2027; Rising Demand for Efficient Fluid Storage Solutions in the Healthcare Industry to Boost the Market: Fortune Business Insights™

The global medical plastics market size is projected to reach USD 54.29 billion by 2027, exhibiting a CAGR of 7.1% during the forecast period. Meteoric rise in the demand for personal protective equipment (PPE) across countries will inevitably fuel the uptake of medical plastics, finds Fortune Business Insights™ in its report, titled “Medical Plastics Market Size, Share & Industry Analysis, By Application (Medical Disposables, Medical Instruments, Prosthetics & Implants, Drugs Packaging, and Others), and Regional Forecast, 2020-2027”. PPE is made from plastics and other polymers and the on-going COVID-19 pandemic has escalated the demand for such equipment among frontline health workers worldwide. In Texas, for instance, the request for PPE from healthcare facilities surged from less than 2,000 in the third week of June to more than 22,000 in the last week of the same month. In India, the Apparel Export Promotion Council (AEPC) estimates that the domestic demand for PPE will be worth INR 10,000crore in the upcoming year and worldwide, the business will stand at an estimated value of USD 60 billion. Thus, the outbreak of the COVID-19 pandemic is expected to prove beneficial for this market in the immediate future.

Click here to get the short-term and long-term impact of COVID-19 on this market.

Please visit: https://www.fortunebusinessinsights.com/medical-plastics-market-102136

The report states that the global market value stood at USD 29.93 billion in 2019 and answers the following questions:

·       What are the primary growth drivers for this market?

·       What challenges does the market face?

·       Which are the top market trends and upcoming opportunities?

·       Who are the major players and what are their key strategies?

·       Which are the most promising regions for the market?

Market Driver

Deferment of EU MDR to Support Medical Plastics Market Growth

The European Medical Device Regulation (EU MDR) is an…