In 2023, the sales of medical plastic in Türkiye are projected to reach a valuation of US$ 217.5 million, with a substantial growth forecasted over the next decade. By 2033, the market is anticipated to surge to US$ 328.9 million, reflecting a notable Compound Annual Growth Rate (CAGR) of 4.2%. This robust expansion is indicative of the rising demand for medical plastics in Türkiye, driven by advancements in healthcare infrastructure and an increasing awareness of the importance of plastic materials in medical applications.
Ongoing technological advancements in the healthcare industry have led to the development of sophisticated medical devices and equipment. These advanced devices often require specialized cables and connectors made from high-performance medical plastics to ensure reliable and precise functionality.
With the increasing adoption of telemedicine, there is rising demand for medical devices made from plastics that are suitable for remote patient monitoring and telehealth applications. The trend toward sustainability and environmental responsibility is influencing the medical plastic industry.
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The medical sector is subject to strict regulatory standards and quality requirements. Medical plastics used in cables and connectors must meet stringent criteria for biocompatibility, sterilization, and safety to ensure compliance with regulatory standards by ISO and FDA.
Key Takeaways from the Report
- By 2033, Türkiye’s medical plastic demand is anticipated to rise at a 4.2% CAGR.
- Based on end-use, the medical cable and connector segment is set to expand at a CAGR of 4.8% by 2033.
- Türkiye’s medical plastic industry is expected to reach a valuation of US$ 328.9 million in 2033.
- In terms of plastic-type, polyvinyl chloride (PVC) is projected to surge at a CAGR of 2.6% by 2033.
- Sales of medical plastic in Türkiye grew at a CAGR of 3.8% between 2018 and 2022.
“Türkiye’s medical plastic industry is driven by the increasing demand for sterilization and infection control, which play crucial roles in the medical field to ensure patient safety and prevent the spread of diseases. The growing trend for self-administration and development of new drug delivery technologies are creating significant opportunities in the medical plastic industry,” – says an Analyst at Future Market Insights, Inc.
Competitive Landscape
Türkiye’s medical plastic industry is fragmented, with leading players accounting for around 45% to 50% of the overall share.
Key medical plastic companies in the country are investing in continuous research to offer new products and increase production capacity to meet end-user demand. Leading players are inclined toward adopting strategies to strengthen their footprint, such as partnerships, mergers, acquisitions, and facility expansions.
Key Companies Profiled
- Celanese Corporation
- Trinseo PLC
- Ensinger Group
- BASF SE
- The Dow Chemical Company
- Saudi Basic Industries Corp (SABIC)
- DuPont de Nemours, Inc.
- Arkema Group
- Evonik Industries
- Eastman Chemical Company
- LyondellBasell Industries N.V.
- Hanwha Group
- Covestro AG
- Tekni-Plex, Inc.
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Türkiye Medical Plastic Industry Segmentation
By Plastic Type:
- Polyvinyl Chloride (PVC)
- Thermoplastic Elastomer (TPE)
- Polyethylene (PE)
- Polycarbonate (PC)
- Polypropylene (PP)
- PET
- Polyamides
- Thermoplastic Polyurethane (TPU)
- Polymethyl Methacrylate
- Acrylonitrile Butadiene Styrene (ABS)
- Silicone Rubber
- Others
By End-use:
- Medical Parts and Components
- Tubing
- Film and Bags
- Medical Cables and Connectors
- Diagnostic Equipment
- Prosthetics
- Others
By Region:
- North America
- Latin America
- Europe
- South Asia & Pacific
- East Asia
- The Middle East & Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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