Report: Medical Plastics Market To Grow

A number of recent studies say the US medical plastics market is expected to grow 5 to 7 percent over the next several years.

According to a recent report published by Plastics News, several different companies, including Business Communications Co., Dow Chemical, and Fredonia have forecast moderate growth in the industry between now and 2004.

Business Communications Co. said that demand for resins will lead to an annual growth of 5.8 percent, while the Freedonia Group Inc. expects a 5.3 percent annual growth rate for disposable medical products. GW Plastics is projecting that its medical custom injection molding operations will see a 15 percent increase, and the company is currently in the process of building cleanroom molding facilities in Arizona and Vermont.

According to the report, the miniaturization of medical components is likely to be an area of key growth.

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