Transformative Mega Trends Power the Global Medical ...
Transcript of Transformative Mega Trends Power the Global Medical ...
The Growth Pipeline™ Company Powering clients toward a future shaped by growth
Future Growth Potential Enhanced by Increas ing Healthcare Expenditure in Developing Economies
Transformative Mega Trends Power the Global Medical Plastics Market
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April 2021
Global Chemicals Materials and Nutrition Research Team at Frost & Sullivan
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Section Slide Number
Strategic Imperatives 7
Why is it Increasingly Difficult to Grow? 8
The Strategic Imperative 8™ 9
The Impact of the Top Three Strategic Imperatives on the Medical Plastics Industry 10
Growth Opportunities Fuel the Growth Pipeline Engine™ 11
Growth Opportunity Analysis, Medical Plastics Market 12
Medical Plastics Market Overview and Scope of Analysis 13
Medical Plastics Market Segmentation 14
Key Growth Metrics for Medical Plastics Market 17
Growth Drivers for the Medical Plastics Market 18
Growth Driver Analysis for Medical Plastics Market 19
Growth Restraints for the Medical Plastics Market 26
Growth Restraint Analysis for the Medical Plastics Market 27
Graphical Summary of Drivers and Restraints for Medical Plastics Market 29
Forecast Assumptions, Medical Plastics Market 30
Contents
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Section Slide Number
Revenue and Volume Shipment Forecast, Medical Plastics Market 31
Revenue and Volume Shipment Forecast Analysis, Medical Plastics Market 32
Revenue Forecast by Plastic Types, Medical Plastics Market 33
Volume Shipment Forecast by Plastic Types, Medical Plastics Market 34
Revenue and Volume Shipment Forecast Analysis by Plastic Types, Medical Plastics Market 35
Pricing Trends and Forecast, Medical Plastics Market 36
Pricing Trends and Forecast by Plastic Types, Medical Plastics Market 37
Pricing Trends and Forecast Analysis, Medical Plastics Market 38
Value Chain, Medical Plastics Market 39
Value Chain Analysis, Medical Plastics Market 40
Competitive Environment, Medical Plastics Market 41
Revenue Share, Medical Plastics Market 42
Revenue Share, Medical Plastics Market by Plastic Types 43
Revenue Share Analysis, Medical Plastics Market 45
Growth Opportunity Analysis, Commodity Thermoplastics 46
Contents (continued)
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Section Slide Number
Commodity Thermoplastics—Segment Characteristics and Overview 47
Key Growth Metrics for Commodity Thermoplastics 48
Revenue and Volume Shipment Forecast, Commodity Thermoplastics 49
Revenue and Volume Shipment Forecast Analysis, Commodity Thermoplastics 50
Revenue Forecast by End-Products, Commodity Thermoplastics 51
Volume Shipment Forecast by End-products, Commodity Thermoplastics 52
Revenue and Volume Shipment Forecast Analysis by End-products, Commodity Thermoplastics 53
Revenue Forecast by Region, Commodity Thermoplastics 56
Volume Shipment Forecast by Region, Commodity Thermoplastics 57
Revenue and Volume Shipment Forecast Analysis by Region, Commodity Thermoplastics 58
Growth Opportunity Analysis, Engineering Thermoplastics 59
Engineering Thermoplastics—Segment Characteristics and Overview 60
Key Growth Metrics for Engineering Thermoplastics 61
Revenue and Volume Shipment Forecast, Engineering Thermoplastics 62
Revenue and Volume Shipment Forecast Analysis, Engineering Thermoplastics 63
Contents (continued)
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Section Slide Number
Revenue Forecast by End-products, Engineering Thermoplastics 64
Volume Shipment Forecast by End-products, Engineering Thermoplastics 65
Revenue and Volume Shipment Forecast Analysis by End-products, Engineering Thermoplastics 66
Revenue Forecast by Region, Engineering Thermoplastics 68
Volume Shipment Forecast by Region, Engineering Thermoplastics 69
Revenue and Volume Shipment Forecast Analysis by Region, Engineering Thermoplastics 70
Growth Opportunity Analysis, Other Plastics 71
Other Plastics—Segment Characteristics and Overview 72
Key Growth Metrics for Other Plastics 73
Revenue and Volume Shipment Forecast, Other Plastics 74
Revenue and Volume Shipment Forecast Analysis, Other Plastics 75
Revenue Forecast by End-Products, Other Plastics 76
Volume Shipment Forecast by End-products, Other Plastics 77
Revenue and Volume Shipment Forecast Analysis by End-products, Other Plastics 78
Revenue Forecast by Region, Other Plastics 82
Contents (continued)
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Section Slide Number
Volume Shipment Forecast by Region, Medical Plastics Market for Other Plastics 83
Revenue and Volume Shipment Forecast Analysis by Region, Other Plastics 84
Growth Opportunity Universe, Medical Plastics Market 85
Growth Opportunity 1—Continuous Demand for Cost-effective Medical Plastics in Developing Economies, 2020
86
Growth Opportunity 2—Investment in High-quality Medical Plastics for the Developed World, 2020
88
Growth Opportunity 3—Inorganic Growth Strategies and Value-driven Pricing Approach for Both Developed and Developing Economies, 2020
90
Next Steps 92
Your Next Steps 93
Why Frost, Why Now? 94
List of Exhibits 95
Legal Disclaimer 98
Appendix 99
Abbreviations and Acronyms Used 100
Contents (continued)
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Strategic Imperatives
Preview
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Why is it Increasingly Difficult to Grow? The Strategic Imperative 8™: Factors Creating Pressure on Growth
Source: Frost & Sullivan
Preview
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The Strategic Imperative 8™
Customer Value Chain
Compression
Innovative Business
Models
Transformative Mega
Trends
Customer value chain compression as a result of advanced technologies, internet platforms, and other direct-to-consumer models that enables reduction in friction and the number of steps in customer journeys
A new revenue model that defines how a company creates and capitalizes economic value, typically impacting its value proposition, product offering, operational strategies, and brand positioning
Global forces that define the future world with their far-reaching impact on business, societies, economies, cultures, and personal lives
The internal organizational behaviors that prevent a company from making required changes
Internal Challenges
Geopolitical Chaos Competitive Intensity Disruptive Technologies
Chaos and disorder arising from political discord, natural calamities, pandemics, and social unrest that impact global trade, collaboration, and business security
A new wave of competition from start-ups and digital business models that challenge the standing conventions of the past, compelling established industries to re-think their competitive stance
New, disruptive technologies that are displacing the old, and significantly altering the way consumers, industries, or businesses operate
Collaboration between previously disparate industries to deliver on whitespace cross-industry growth opportunities
Industry Convergence
Source: Frost & Sullivan
Preview
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Transformative Mega Trends Industry Convergence Geopolitical Chaos
• End-users are increasingly opting for medical plastics over traditional materials, such as steel, ceramic, and glass. The market penetration of medical plastics is expected to grow by 0.8% per annum from 2020 to 2027.
• The demand for price-premium regulated-grades of medical plastics is further expected to increase in the next 3–5 years, with rising stringency of regulations coupled with an increasing focus on infection control in the healthcare industry.
• The plastics market has been increasingly witnessing mergers and acquisitions between polymer companies, compounders, and processors. This has been affecting the medical plastics market too.
o In 2018, LyondellBasell Industries NV, market leader in medical polyolefins, acquired US-based A. Schulman.
o In 2020, Polyone Corporation, a prominent medical plastic compounder, changed its name to Avient Corp., following the acquisition of Masterbatch division of Clariant AG.
• To reduce the dependency on Chinese imports, governments in North America, Europe, and the Middle East, Africa, and South Asia (MEASA) have increased their focus on expanding domestic production capabilities for medical devices, equipment, instruments, and other medical supplies.
• New companies catering to these medical applications are likely to emerge in these regions in the next 2 to 3 years, thereby, driving local demand for medical plastics.
SI8
• Lightweighting, miniaturization, and biocompatibility are taking center stage in the medical industry.
• Market trends are driving the need for products that address functional requirements, such as processing ease, flexibility, toughness, and biological and chemical inertness.
• Industry convergence represents the most essential cross-industry growth opportunity for organizations, redefining the boundaries across the value chain.
• This enables better product diversification and enhances customer interaction and overall purchasing experience.
• The ongoing COVID-19 crisis is posing significant challenges; notable among these are supply chain disruptions and declining demand across several medical applications.
• However, this situation is also presenting opportunities for new medical product suppliers to enter the industry.
Wh
y W
he
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The Impact of the Top Three Strategic Imperatives on the Medical Plastics Industry
Source: Frost & Sullivan
Preview
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Growth Opportunities Fuel the Growth Pipeline Engine™
The Growth Pipeline Engine™ The Innovation Generator™
An
alytical P
ersp
ectives
Source: Frost & Sullivan
Preview
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Growth Opportunity Analysis, Medical Plastics Market
Preview
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Medical Plastics Market Overview and Scope of Analysis
• This study analyzes the market for different types of medical plastics that include regulated- and non-regulated-grades of commodity thermoplastics (CTP), engineering thermoplastics (ETP), thermoplastic elastomers (TPE), thermosets, and high performance polymers (HPP).
• These plastics are greatly valued across different healthcare products, such as diagnostic and therapeutic medical devices, equipment, surgical instruments, healthcare packaging products, prosthetics, implants, and other medical supplies.
• This study presents an assessment of the current status and future prospects of the global market for plastics used across different medical applications.
• It takes into account the volume shipment and revenue generated in this market from 2017 to 2027.
• Revenue is recorded at the manufacturer’s level.
• Prices denote the median of the price range for each medical plastic, as price variation is high in the market.
Scope
Geographic coverage Global
Study period 2017–2027
Base year 2020
Forecast period 2021–2027
Monetary unit US Dollars
CAGR Period 2020–2027
Volume Shipment Representation
Kilo Tonnes (KT)
Average Price Representation
$/tonne
Conversion Rate €1.00 = $1.17
Overview
Source: Frost & Sullivan
Preview
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Engineering Thermoplastics (PC, PMMA, ABS, SAN, POM,
Polyamide, and Polyester)
The global medical plastics market has been primarily segmented on the basis of plastic type as shown below.
Commodity Thermoplastics (PVC, PO, PS, and PET)
Medical Plastics Market Segmentation
Prosthetics and Implants (P&I)
For each of the product types, the medical plastics market is further segmented on the basis of applications and regions.
Global Medical Plastics Market, by End-products
Healthcare Packaging
(Packaging)
Medical Devices, Equipment &
Instruments (DEI)
Global Medical Plastics Market, by Regions
Americas Europe MEASA Asia-Pacific
Other Plastics (TPE, thermosets, and HPP)
Global Medical Plastics Market, by Plastic Type
Source: Frost & Sullivan
Preview
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Growth Drivers for the Medical Plastics Market
Medical Plastics Market: Growth Drivers, Global, 2021–2027
Drivers 1–2 Years 3–4 Years 5–7 Years
The ability to offer several advantages over traditional materials drives the penetration of plastics across various medical applications.
High High High
Rising aging population worldwide and increasing incidence of lifestyle diseases boost end-market growth.
High High High
Increasing healthcare expenditure in emerging economies is expected to drive the overall market growth.
High High High
Increasing demand for regulated-grade polymers for critical healthcare applications drives revenue growth.
High High High
Declining COVID-19 cases are expected to boost significant volume growth in the short term.
High Low Low
Emerging technologies, such as 3D printing, are expected to create growth opportunities for the medical plastics market.
Low Medium Medium
Source: Frost & Sullivan
Preview
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Growth Restraints for the Medical Plastics Market
Medical Plastics Market: Growth Restraints, Global, 2021–2027
Restraints 1–2 Years 3–4 Years 5–7 Years
Growth is restrained due to competition from traditional materials.
Medium Medium Medium
Rigorous approval process of new materials coupled with
prolonged product development time deters market growth. Medium Medium Medium
Volume consumption is reduced due to the lightweighting and
miniaturization trends. Low Medium Medium
Source: Frost & Sullivan
Preview
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Revenue and Volume Shipment Forecast, Medical Plastics Market
Revenue CAGR, 2020–2027 = 6.0% Volume Shipment CAGR, 2020–2027 = 4.8%
Medical Plastics Market: Revenue and Volume Shipment Forecast, Global, 2017–2027
Year
Note: All figures are rounded. The base year is 2020. Source: Frost & Sullivan
Preview
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Growth Opportunity Universe, Medical Plastics Market
Preview
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Growth Opportunity 1—Continuous Demand for Cost-effective Medical Plastics in Developing Economies, 2020
Frost & Sullivan has identified 10 Growth Processes that serve as levers for determining and evaluating new Growth Opportunities.
Growth Processes
Relevant Industries for this Growth Opportunity Applicable Regions
Asia-Pacific MEASA
1–7 Years Timeline
for Action
Base Year 2020
Customer and Branding Distribution
Channel Optimization
Geographic Expansion
Competitive Strategy
New Product Development
New Product Launch
Vertical Market Expansion
Strategic Partnering
Mergers & Acquisitions
Technology and IP
Americas Europe
$6–$7 B Opportunity
Size
DEI P&I Packaging
Source: Frost & Sullivan
Preview
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Growth Opportunity 2—Investment in High-quality Medical Plastics for the Developed World, 2020
Frost & Sullivan has identified 10 Growth Processes that serve as levers for determining and evaluating new Growth Opportunities.
Growth Processes
Customer and Branding Distribution
Channel Optimization
Geographic Expansion
Competitive Strategy
New Product Development
New Product Launch
Vertical Market Expansion
Strategic Partnering
Mergers & Acquisitions
Technology and IP
Relevant Industries for this Growth Opportunity Applicable Regions
DEI P&I Packaging
1–7 Years Timeline
for Action
Base Year 2020
$6–$8 B Opportunity
Size
Asia-Pacific MEASA
Americas Europe
Source: Frost & Sullivan
Preview
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Growth Opportunity 3—Inorganic Growth Strategies and Value-driven Pricing Approach for Both Developed and Developing Economies, 2020
Frost & Sullivan has identified 10 Growth Processes that serve as levers for determining and evaluating new Growth Opportunities.
Growth Processes
Customer and Branding Distribution
Channel Optimization
Geographic Expansion
Competitive Strategy
New Product Development
New Product Launch
Vertical Market Expansion
Strategic Partnering
Mergers & Acquisitions
Technology and IP
Relevant Industries for this Growth Opportunity Applicable Regions
1–7 Years Timeline
for Action
Base Year 2020
$5–$6 B Opportunity
Size
Asia-Pacific MEASA
Americas Europe DEI P&I Packaging
Source: Frost & Sullivan
Preview
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Next Steps
Preview
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Why Frost, Why Now?
EXPERIENCE
COVERAGE
ANALYTICS
BEST PRACTICES
• 60 years of proven global experience
• Trusted partner of Investors, corporates, & governments
• Industry convergence through comprehensive coverage
• Global footprint to match clients’ needs
• Innovation Generator™ driving six analytical perspectives
• Proprietary growth tools & frameworks
• Growth Pipeline Engine™ and Companies to Action™
• Ten Growth Processes: best practices foundation
Our Expertise
• FUTURE GROWTH POTENTIAL: Maximized through collaboration
• GROWTH PIPELINETM: Continuous flow of growth opportunities
• GROWTH STRATEGIES: Proven best
practices
• INNOVATION CULTURE: Optimized customer experience
• ROI & MARGIN: Implementation excellence
• TRANSFORMATIONAL GROWTH: Industry leadership
Client Impact
Source: Frost & Sullivan
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Legal Disclaimer
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© 2021 Frost & Sullivan. All rights reserved. This document contains highly confidential information and is the sole property of Frost & Sullivan. No part of it may be circulated, quoted, copied, or otherwise reproduced without the written approval of Frost & Sullivan.
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