Seems like there’s a healthy market for plastic surgical devices, especially those manufactured by plastic injection molding. Whether they be plastic surgical instruments, plastic consumables (specimen cups, surgical trays, etc.) or plastic body implants, the global plastic surgical devices market is expected to increase over 10% from 2021 to 2028, reaching more than $22 billion seven years from now.
What’s driving this growth? A rapid increase in the geriatric population and rising per capita income are the biggest factors. Also fueling growth:
- increasing demand for cosmetic surgeries
- growing age-related surgeries across the globe
- age-related cancer
- general healthcare infrastructure expansion
There are a few “wrinkles” in all this good news, particularly in the cosmetic plastic surgical device market. Bad outcomes, increasing regulation and consumer wariness may dampen the growth of the market toward the end of the forecast period (2028). But this should be counter-balanced by the increasing number of joint ventures, partnerships and mergers & acquisitions between major healthcare key players, which should act as a catalyst for innovation and economic growth.
Growth in the plastic medical device market is especially driven by the ever-expanding number of surgical procedures and technological advancements which call for instruments, consumables and implanted devices which can most efficiently be made of plastic.
Technical advancements include:
- tissue engineering
- gene therapy
- alloplastic materials
- computer-assisted imaging technology
Despite its name, alloplastic materials don’t necessarily have to be made of plastic polymers (although they could be); they could also be made of implantable tissue from other species, such as pigs, for example. Alloplastic materials are driving innovation in cosmetic surgery procedures such as:
- breast augmentation (silicone implants)
- eyelid surgery
- breast lift
But cosmetic surgery is only a part of the plastic puzzle: increasing car accidents, a rapidly-aging population, and healthcare spending in emerging economies are a few more factors driving demand.
Bottomline: the market for plastic medical devices is booming!