Medical Plastic Market to See Continued Growth into 2030
According to a recent Emergen Research study, the medical plastic market size will continue to grow over the remainder of the decade. Reaching $44.84 Billion in 2021, new projections suggest that medical plastics will hit a market size of $85.54 Billion by 2030, which represents a compound annual growth rate (CAGR) of 7.5%.
The expanding demand for at-home healthcare and the rising elderly population are seen to be two main contributors to this expected growth, as the global population of people of 60 years old is on pace to increase from 12% to 22% by 2050, according to the World Health Organization (WHO).