Medical plastics and equipment cooling markets projected to grow through 2031

New market research reports from MarketsandMarkets, distributed by SEMABIZ, forecast significant growth in the medical plastics and medical equipment cooling sectors through 2031.

The medical plastics market is projected to grow from $34.77 billion in 2026 to $48.77 billion by 2031, representing a compound annual growth rate (CAGR) of 7.0%. Key drivers include the increasing demand for advanced medical devices, disposable products, and the rising prevalence of chronic diseases due to aging populations. Challenges include strict regulations and environmental concerns regarding plastic waste.

Simultaneously, the medical equipment cooling market is expected to reach $840 million by 2031, growing at a CAGR of 4.4%. This growth is driven by the need for precise temperature control in diagnostic imaging, radiation therapy, and life sciences equipment. Factors such as expanding healthcare infrastructure and increased research in biotechnology support this trend, while high maintenance costs and regulatory requirements remain significant hurdles.