Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Medical Polymers market.
Trusted Business Insights presents an updated and Latest Study on Medical Polymers Market 2019-2029. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Medical Polymers market during the forecast period (2019-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
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The report covers forecast and analysis for the medical polymers market on a global and regional level. The study provides historic data from 2015 to 2018 along with a forecast from 2019 to 2025 based on revenue (USD Million). The study includes drivers and restraints for the medical polymers market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities and various trends in the mkedical polymers market on a global level.
As per the report, the global demand for medical polymers market was valued at approximately USD 10,094.4 million in 2018 and is expected to generate revenue of around USD 23,241.6 million by end of 2025, growing at a CAGR of around 12.72% between 2019 and 2025.
Medical polymers are generally used in the medical industry for a wide range of human touch and non-contact applications. These materials are mainly used in medical implants, disposables (gloves, vials, and instruments), devices, and packaging manufacturing. Medical polymers are biodegradable in nature and either remain inactive or are easily processed by the human body. Growing investment in research and development, increasing acceptance of medical polymers, and developing low-cost products drive the healthcare industry’s demand for medical polymers. Medical polymers are widely adopted in the healthcare industry to satisfy high-end application specifications. Polymer demand in healthcare industries is increasing considerably due to a substantial increase in demand for medical implants, while demand for implants is increasing mainly due to rising chronic disease incidences.
Based on product type, the market is segmented resins, elastomers, and biodegradable plastics. Resins are further divided into polyethylene (PE), polyvinyl chloride (PVC), polypropylene (PP), polycarbonate (PC), polystyrene (PS), polyetheretherketones (PEEK), acrylonitrile butadiene styrene (ABS), hydrogel (acrylate), polymethyl methacrylate (PMMA), and polyethylene terephthalate (PET). Elastomers are sub-divided into styrenic block copolymer (SBC), rubber latex thermoplastics polyurethane (TPU), and thermoplastics olefins (TPO). Based on application, the medical polymer market is classified into devices, implants, disposables, and packaging.
North Americadominated the medical polymers market. The region’s growth can be accredited to the increased chronic ailments, accidents, metabolic disorders, infectious disease incidence, etc. Increased clinical urgency has increased the use of medical polymers and has encouraged the development of innovative medical polymers for fast-track use with FDA approvals. In addition, the presence of established pharmaceutical companies, constantly striving for an extensive marketing of their medical polymers and enhancing their geographical reach, is anticipated to be a major factor in the regional market growth. The Asia Pacific market is projected to have the largest CAGR over the forecast period. The existence of a huge target population base, enhanced disposable income and accessibility to drugs, and high unmet clinical needs contribute to the development of the regional industry. Global players are therefore focuing at a relatively low price on heavy investment in R&D and marketing of branded drugs in the region. Due to enhanced medical expenditure and enhanced insurance coverage, Japan retained a significant share in the APAC market in 2017.
Some of the key players in medical polymers market include The Dow Chemical Company, Eastman Chemical Company, Formosa Plastics Corporation USA, Evonik Industries AG, Arkema SA, BASF SE, DSM N.V., Covestro AG, Solvay S.A, and Celanese Corporation, among others.
Global Medical Polymers Market: Product Type Segment Analysis
Polyvinyl chloride (PVC)
Others (Including ABS, PMMA and PET)
Styrenic block copolymer (SBC)
Others (Including TPU, TPV and TPO)
Global Medical Polymers Market: Application Segment Analysis
Global Medical Polymers Market: Regional Segment Analysis
Middle East and Africa
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