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Report Overview
The global biodegradable medical plastics market value reached nearly USD 4.34 billion in 2023. The industry is further expected to grow at a CAGR of 11.9% during the forecast period of 2024-2032 to reach USD 11.9 billion in 2032.
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Biodegradable Medical Plastics Market Growth
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.
Biodegradable Medical Plastics Market Report Snapshots
Biodegradable Medical Plastics Market Size
Biodegradable Medical Plastics Market Growth
Biodegradable Medical Plastics Market Trends
Biodegradable Medical Plastics Market Analysis
Biodegradable Medical Plastics Companies
Biodegradable Medical Plastics Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global biodegradable medical plastics market attained a value of nearly USD 4.34 billion.
The market is projected to grow at a CAGR of 11.9% between 2024 and 2032.
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 BASF SE, Corbion NV, Amcor PLC, Mondi Plc, Arkema Group, Evonik Industries AG, Koninklijke DSM N.V. and Others.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 11.9 billion in 2032.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124