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The biodegradable medical plastics market size is forecast to increase by USD 434.9 million at a CAGR of 13.64% between 2023 and 2028. The market is witnessing significant growth due to several key factors. The increasing geriatric population is one of the major drivers, as the elderly population requires more medical care and treatments, leading to a higher demand for medical devices and implants made of biodegradable plastics. Additionally, the adoption of innovative raw materials is another trend in the market, as companies are investing in research and development to create biodegradable plastics with improved properties, such as better strength, flexibility, and biocompatibility. However, the high manufacturing cost is a challenge for market growth, as producing biodegradable plastics requires more resources and energy compared to traditional plastics. Despite this, the market is expected to continue expanding due to the growing demand for eco-friendly and sustainable medical solutions.
The market is witnessing significant growth due to the increasing demand for eco-friendly alternatives to traditional petrochemical counterparts. The market is driven by the availability of abundant raw materials such as plants, hemp, ethanol, and sugarcane. These raw materials are used to produce plant-based materials like green polyethylene, thymidine, and carbon dioxide, which are then utilized to manufacture biodegradable plastics. The medical industry is a major consumer of single-use plastic items, including medical equipment and packaging. However, growing environmental concerns and public awareness have led to the adoption of biodegradable plastics made from renewable resources. These plastics are derived from plant-based materials such as corn starch, PLA (polylactic acid), and bio-based packaging.
Moreover, the agriculture sector is also contributing to the growth of the market by providing raw materials and creating a demand for biodegradable packaging. The use of biodegradable plastics in the production of masks and face shields is expected to increase significantly due to the ongoing pandemic. The biodegradable plastics market is expected to grow at a steady pace due to the availability of advanced composting infrastructure and the support of governments and organizations for the use of eco-friendly materials. Companies like Trineso and Novamont are leading the way in the production of biodegradable medical plastics using microorganisms and other sustainable methods.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The medical devices segment is estimated to witness significant growth during the forecast period. The market is witnessing significant growth due to the increasing demand for eco-friendly products in the medical industry. Raw materials for biodegradable plastics include plants such as hemp fibre, ethanol derived from sugarcane, and green polyethylene produced from carbon dioxide and microorganisms. Renewable raw materials like seaweed, polyhydroxyalkanoate, and those derived from living organisms and microbes are also gaining popularity. The use of plant-based materials, such as corn starch, is increasing as an alternative to petrochemical counterparts. Legislation and prohibitions against single-use plastic are driving the market, particularly in the area of bio-based packaging. Biodegradable plastics are finding extensive use in medical devices, including masks and face shields, as well as in the agriculture sector for IV bags and other applications.
Moreover, companies like Trineso and Novamont are at the forefront of this trend, utilizing Thymidine and PBAT (Polybutylene Adipate Terephthalate) in their product offerings. The rising public awareness of environmental issues and the increasing cost of oil are further fueling the growth of this market. Composting infrastructure is also improving, making biodegradable plastics a more viable option for various end-use segments.
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The medical devices segment was valued at USD 197.70 million in 2018 and showed a gradual increase during the forecast period.
North America is estimated to contribute 38% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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Biodegradable medical plastics have gained significant attention in the healthcare industry due to their potential to reduce the environmental impact of non-biodegradable materials. Unlike traditional plastics derived from non-renewable resources such as fossil fuels, bio-based plastics are derived from renewable sources like starches, agricultural waste, and other plant-based materials. These plastics can be degraded by bacteria and fungi, making them an eco-friendly alternative. The chemical composition of biodegradable medical plastics provides them with mechanical strength and barrier properties comparable to their non-biodegradable counterparts. Healthcare professionals and patients alike appreciate the benefits of these materials, which include procurement policies that prioritize sustainability and legislative measures promoting environmental conservation.
Moreover, landfills and oceans, which are already strained by the accumulation of non-biodegradable waste, can be conserved through the use of biodegradable medical plastics. The production of these plastics also consumes less energy and emits fewer greenhouse gases compared to the production of non-biodegradable plastics. Medical devices made from biodegradable plastics have a lower ecological footprint, contributing to more efficient waste management systems. As the world shifts towards sustainable practices, the use of biodegradable medical plastics is expected to increase, offering a promising solution to the environmental challenges posed by non-biodegradable materials.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The growing geriatric population is the key driver of the market. The global medical plastics market is witnessing a significant shift towards the use of eco-friendly, biodegradable materials derived from renewable raw materials, such as plants and microorganisms, in response to increasing public awareness and laws prohibiting single-use plastics. These raw materials include hemp, ethanol, sugarcane, green polyethylene, thymidine, carbon dioxide, and microorganisms. Seaweed and polyhydroxyalkanoate are also gaining popularity as living organisms and microbes produce these materials. Biodegradable medical plastics are used in various end-use segments, including medical devices, plastic surgery, and bio-based packaging. Key players in this market include Trineso and Novamont, who are producing biodegradable medical plastics from plant-based materials such as corn starch and PLA (polylactic acid).
Moreover, these eco-friendly products offer advantages over their petrochemical counterparts, including reduced carbon footprint, biodegradability, and compatibility with the environment. The medical industry is a significant consumer of plastics due to the high demand for disposable medical devices, such as masks and face shields. The agriculture sector is also a major contributor to the demand for biodegradable plastics due to their use in agriculture films and mulch films. The increasing oil prices and the need to reduce the dependence on petrochemicals are further driving the adoption of biodegradable medical plastics. The composting infrastructure and the availability of biodegradable plastics are crucial factors influencing the growth of the market.
However, the lack of standardization and the high production costs are major challenges. The market is expected to grow significantly in the coming years due to the increasing demand for sustainable and eco-friendly products and the stringent regulations on single-use plastics.
The adoption of innovative raw materials is the upcoming trend in the market. The market is witnessing a notable due to the increasing preference for eco-friendly and sustainable products in the healthcare sector. Various plant-based raw materials, including fruit skins, hemp, and sugarcane, are being adopted for the production of biodegradable medical plastics. Hemp processing generates a substantial amount of waste, which can be repurposed to create hemp-based biodegradable plastics. Sugarcane, another renewable raw material, is transformed into ethanol, which is utilized in the manufacture of green polyethylene. This alternative plastic variant possesses properties similar to conventional high-density polyethylene (HDPE). Moreover, raw materials like thymidine, carbon dioxide, and microorganisms, such as seaweed and polyhydroxyalkanoate, are used in living organisms and microbes to produce biodegradable medical plastics.
Moreover, the medical industry's shift towards bio-based packaging, masks, face shields, and IV bags is driving the demand for these eco-friendly products. However, the development and implementation of composting infrastructure, as well as public awareness about the environmental impact of single-use plastics, are crucial factors influencing the market's growth. Companies like Trineso and Novamont are pioneering the production of biodegradable medical plastics from plant-based materials, offering viable alternatives to petrochemical counterparts. The rise in oil prices and stringent laws and prohibitions against plastic bags further boost the demand for biodegradable medical plastics.
High manufacturing cost is a key challenge affecting market growth. Biodegradable medical plastics, derived from renewable raw materials such as plants, hemp, ethanol, sugarcane, and seaweed, are gaining popularity in the medical industry due to their eco-friendly nature. These plastics are biodegradable, meaning they can be broken down by microorganisms, releasing carbon dioxide and water as by-products. Raw materials for biodegradable medical plastics include thymidine, carbon dioxide, and microorganisms. Some common plant-based materials used are Trineso's green polyethylene and Novamont's Polyhydroxyalkanoate. However, the high production cost of these materials poses a significant challenge to the market growth. The price of renewable raw materials, such as corn starch, vegetable oils, and sugarcane, can be volatile, leading to price fluctuations.
For instance, the price of palm oil, a common vegetable oil used, increased by approximately 68.54% in October 2021 compared to the previous year. Moreover, laws and prohibitions against single-use plastic, public awareness, and the demand for bio-based packaging have led to an increase in the use of biodegradable medical plastics in various end-use segments, including medical devices, the agriculture sector, and bio-based packaging. Applications include masks, face shields, and IV bags. Despite the high cost, biodegradable medical plastics offer a sustainable alternative to petrochemical counterparts, especially as oil prices continue to rise.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Arkema SA - The company offers biodegradable medical plastics such as Rilsan polyamide 11 range and Oleris range.
The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market is witnessing significant growth due to the increasing demand for eco-friendly products in the medical industry. The market is driven by the availability of renewable raw materials such as plants, hemp, ethanol, sugarcane, and others. These raw materials are used to produce green polyethylene, polyhydroxyalkanoate (PHA), and other biodegradable plastics. The use of living organisms, microorganisms, and microbes in the production of biodegradable plastics is gaining popularity due to its environmental benefits. Seaweed and thymidine are some of the raw materials used in the production of biodegradable plastics. The medical devices segment is the largest end-use segment of the market.
Moreover, the use of biodegradable plastics in medical devices is increasing due to the prohibition of single-use plastic bags and the growing public awareness of eco-friendly products. The agriculture sector is also contributing to the growth of the market with the production of plant-based materials such as corn starch, PLA, and PBAT. The market is expected to face challenges due to the high cost of production compared to petrochemical counterparts and the lack of composting infrastructure. The use of biodegradable plastics in medical packaging, masks, face shields, and IV bags is increasing due to the environmentally friendly nature of these products. The market is expected to grow further with the increasing oil prices and the stringent laws and regulations against the use of non-biodegradable plastics. Companies like Trineso and Novamont are leading the market with their innovative biodegradable plastic solutions.
Market Scope |
|
Report Coverage |
Details |
Page number |
194 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 13.64% |
Market Growth 2024-2028 |
USD 434.9 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
11.73 |
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
Performing market contribution |
North America at 38% |
Key countries |
US, Germany, France, China, and Japan |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Arkema SA, Arthrex Inc., Ashland Inc., BASF SE, Bio on SpA, Celanese Corp., Corbion nv, Danimer Scientific Inc., Eastman Chemical Co., Evonik Industries AG, Kaneka Corp., Koninklijke DSM NV, Medtronic Plc, Mitsubishi Chemical Corp., Natupharma AS, NatureWorks LLC, Neste Corp., Nutricare Holding Pty Ltd, Surmodics Inc., and TEYSHA TECHNOLOGIES LTD |
Market dynamics |
Parent market analysis, market growth inducers and obstacles, market forecast, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, market condition analysis for the forecast period |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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