The global medical polymers market size reached US$ 18.8 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 30.6 Billion by 2027, exhibiting a growth rate (CAGR) of 8.33% during 2022-2027.
Market Outlook:
Medical polymers are biocompatible clinical-grade synthetic materials or elastomers predominantly made from monomers, including ethylene, polycarbonate, propylene, caprolactam, silica stone (SiO2), and corn starch. They offer adaptability, strength, biodegradability, solidness, versatility, sterilization stability, cost-effectiveness, fatigue, and heat and chemical resistance. Medical polymers form an essential part of the modern healthcare system by complying with global regulatory requirements and are specifically engineered for medical use. Some of these applications include manufacturing equipment, medication packaging, dental or orthopedic implants, and multiple disposables while also ensuring their optimal safety.
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Market Trends and Drivers:
With the increasing prevalence of various chronic disorders, there has been a rising need for personal protective equipment (PPE) and disposable masks, especially during the COVID-19 pandemic, which is majorly driving the medical polymers market growth. Moreover, the shifting inclination of manufacturers toward high-quality polymers over conventional materials, owing to their multiple benefits, including low weight, better friction reduction, and malleability, is impelling the market growth.
Additionally, the extensive usage of biodegradable medical polymers in the healthcare sector to manufacture polymeric biomaterials for organ transplantation is propelling the market growth. This is further supported by the advent of robotic assistance and three-dimensional (3D) printing solutions that help compose implants and prosthetics with greater accuracy and compatibility. Apart from this, significant enhancements in the healthcare sector and the launch of innovative product variants by key players are contributing to the market growth.
Major Players Covered:
- BASF SE
- Celanese Corporation
- Covestro AG
- DuPont
- Eastman Chemical Company
- Evonik Industries AG
- Exxon Mobil Corporation
- Huizhou Foryou Medical Device Co. Ltd.
- Kraton Corporation
- Solvay S.A.
Market Segmentation:
The report has segmented the medical polymers market on the basis of product type, application and region.
Based on Product Type:
- Medical Resins and Fibers
- Medical Elastomers
- Biodegradable Medical Polymers
Based on Application:
- Medical Equipment and Devices
- Medical Packaging
- Others
Geographical Analysis:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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