The North American market for plastics used in medical devices is more than $1 billion and growing at a compound annual growth rate of 5.2%, according to a new study from Frost & Sullivan (Mountainview, CA).
Total volume is 1,370 million pounds, led by polyvinyl chloride (PVC), polyethylene (PE) and polypropylene (PP).
"While the baby boomer population has surpassed 76 million, the number of young people requiring medical care is also on the rise," says Shomik Majumdar, vice president, chemicals and materials. "The higher incidence of lifestyle diseases, along with governments' keener focus on improving healthcare, drives the demand for medical devices and consequently, plastic polymers."...