The Biodegradable Medical Plastics Market is being driven by Growing geriatric population
The Biodegradable Medical Plastics Market is expected to grow at a CAGR of 5.9% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 712.4 million. The biodegradable medical plastics market is experiencing robust growth due to the increasing preference for eco-friendly and sustainable solutions in the healthcare sector. Manufacturers are leveraging plant-based raw materials, such as fruit skins, hemp, and sugarcane, to produce biodegradable medical plastics. Notably, the production of hemp-based plastics generates substantial waste, which can be repurposed to create additional hemp-derived biodegradable plastics. Similarly, sugarcane is processed into ethanol, which is then utilized to produce green polyethylene, a biodegradable alternative to conventional high-density polyethylene (HDPE), with comparable properties.
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The market is segmented based on
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
However, the market also witnesses some limitations, which are as follows:
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Market Scope |
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Report Coverage |
Details |
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Page number |
238 |
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Base year |
2024 |
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Historic period |
2019-2023 |
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Forecast period |
2025-2029 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.9% |
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Market growth 2025-2029 |
USD 712.4 million |
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Market structure |
fragmentation |
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YoY growth 2024-2025(%) |
5.7 |
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Key countries |
US, China, Germany, Canada, UK, France, Japan, Italy, Brazil, and India |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Find out which segment is leading the market by accessing the free PDF report
The Biodegradable Medical Plastics Market encompasses a range of eco-friendly materials, including biodegradable films, fibers, coatings, resins, composites, microparticles, nanoparticles, hydrogels, adhesives, sealants, membranes, sponges, textiles, packaging films, food packaging, medical devices, surgical instruments, wound dressings, bone grafts, and cartilage grafts. These materials offer sustainable alternatives to traditional plastics, breaking down naturally over time, reducing waste and environmental impact.
The global specialty chemicals market encompasses businesses specializing in high-value-add chemicals, including biodegradable polymers such as polylactic acid (PLA), polyhydroxyalkanoates (PHAs), polyglycolic acid (PGA), and polycaprolactone (PCL). According to Technavio, this market's size is determined by the consolidated revenue of manufacturers dealing in such chemicals, used extensively in the production of fine chemicals, additives, advanced polymers, adhesives, sealants, specialty paints, pigments, and coatings. The market's expansion will be fueled by the increasing preference for specialty adhesives and sealants, which cater to the growing demand for eco-friendly and biodegradable alternatives in various industries.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
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