The medical plastics market in India is expected to grow significantly, with projections indicating a market size of USD 38.20 billion by 2030. This growth is driven by factors such as increased healthcare expenditure, rising income levels, and a growing prevalence of lifestyle diseases.
The market is dominated by rigid plastics, accounting for over 70.9% of revenue in 2024, while the soft plastics segment is expected to exhibit the highest growth rate. However, the industry faces challenges related to waste management, particularly in the healthcare sector.
The Indian government has initiated campaigns to boost domestic production and reduce reliance on imports, aiming to enhance self-reliance in the medical devices sector. The competitive landscape is marked by key players actively engaged in product innovation and strategic partnerships. Companies are also focusing on sustainable practices and eco-friendly materials to meet regulatory pressures and consumer demand.
The application segments driving demand include medical and monitoring equipment housings, drug delivery devices, surgical tools, and wearables. The integration of digital health solutions and telemedicine is expected to create new opportunities for medical plastics.
Stakeholders in the market should invest in research and development, adapt to changing market dynamics, and collaborate with healthcare providers and regulatory bodies. Overall, the Indian medical plastics market is on a robust growth trajectory, with opportunities for market participants who prioritize sustainability and innovation.