The India Medical Plastics market is projected to grow at a modest CAGR of 5.8% during the forecast period (2021-2027). The major aspect that drives the growth of the market includes the rapidly changing lifestyle, rise in disposable income growing healthcare investments in India, and increased demand for affordable and efficient healthcare systems. Besides, the rising medical tourism in India is also one of the major factors that propel the growth of the India medical plastics market over the forecast period. Further, the rising medical devices industry in the country is also flourishing the growth of the market, as per the Indian Brand Equity Foundation (IBEF), the Indian medical devices industry stood at $11 billion in 2020 and is likely to grow substantially in the upcoming years.

The Indian medical plastic market is segmented on the basis of plastic type and applications. Based on the plastic type, the market is segmented as traditional plastics and engineered plastics. The traditional plastics include Polyvinylchloride (PVC), Polyethylene (PE), Polystyrene (PS), Polypropylene (PP), and Silicone. Whereas, the engineered plastics segment includes Nylon, Polycarbonate (PC), Polyoxymethylene (POM), Acrylonitrile butadiene styrene (ABS), Polymethylmethacrylate (PMMA), Polyphenylene Oxide (PPO), and others. Based on the applications, the market is segmented as disposables, diagnostic instruments, catheters and syringes, implants, dental tools, surgical instruments, medical bags, drug delivery devices, and others. 

Further, BASF SE, Celanese Corp., Dow DuPont Inc., Eastman Chemical Co., Evonik Industries AG, Exxon Mobil Corp., Royal DSM NV, SABIC, Saint-Gobain S.A, Solvay SA, and Trinseo S.A among others are some of the prominent players functioning in the India medical plastics market. New product launches & developments, partnerships, agreements, and acquisitions are some of the growth strategies adopted by the players in order to sustain in the highly competitive market. 

Research Methodology

The market study of the Indian medical plastics market is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data to breakdown the market into various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings the authenticity of our reports.

Secondary sources include:

• Financial reports of companies involved in the market
• Whitepapers, research-papers, and news blogs
• Company websites and their product catalog

The report is intended for medical plastics manufacturing companies, chemical companies, medical devices and component manufacturers, research institutes, other related companies, and government organizations for overall market analysis and competitive analysis. The report provides an in-depth analysis of the market size and growth opportunities. The report will serve as a source for 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions.

Market Segmentation:

1. India Medical Plastics Market Research and Analysis by Plastic Type
2. India Medical Plastics Market Research and Analysis by Applications

The Report covers:

• Comprehensive research methodology of the India medical plastics market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the India medical plastics market.
• Insights about market determinants that are stimulating the India medical plastics market.
• Detailed and extensive market segments with regional distribution of forecast revenues.
• Extensive profiles and recent developments of the market players.