Global Medical Polymers Market to outshine and cross USD12.7 BN by 2026
Posted On February 03, 2020
The Global Medical Polymers Market value will grow to USD 12.7 BN in 2026 from the market value of USD 7.1 BN in 2019 at a CAGR of 8.6% during the study period of 2020-2026, as stated in the published report by Value Market Research. The advent of diverse medical devices is accompanied by the demand for various medical polymers. Rising communicable infections and cardiovascular diseases are giving impetus to the growth of pharmaceutical industry and these advancements are boosting the polymer market. An essential medical treatment against arthritis, osteoporosis, diabetes and heart diseases for geriatric population has proved to be the primary root of development of this market.
Polymers have superior physical and chemical properties than metals, ceramics, etc. Polymers are used for both contact and non-contact use for human body. They remain inert and are biocompatible in nature so can be successfully utilised for organ transplants, operations and internal surgeries. Medical polymers are the polymers that are fit to be used for medicinal implants, devices, disposables and packaging. Medical polymers such as polyether ether ketone, polyetherimide, polysulfone and polyphenylsulfone are prominent polymers used in the medical devices. Besides, polyethylene terephthalate and ultra-high molecular weight polyethylene are the traditional polymers consistently being the parent of all polymers. Polyether ether ketone is dominant for the special characteristics of high melting temperature and high tensile strength. Its low flexibility has been balanced by the advent of new polymer thermoplastic elastomers. All such polymers have become complementary of one another. Outstanding features of all these polymers have blessed the geriatric population to fight against the so called inevitable chronic diseases.
The "Global Medical Polymers Market Report By Product (Polypropylene, Polyethylene, Polyvinyl Chloride, Thermoplastic Elastomer, Polystyrene, Polyoxymethylene, And Others), Application (Medical Devices & Equipment, Medical Packaging, And Others) And By Regions - Industry Trends, Size, Share, Growth, Estimation and Forecast, 2019-2026" provides statistical data on the basis of revenue/or volume as well as qualitative data gathered from reliable sources. The report analyses the trends of the past years along with deeply studying the geo-political trends, thus authenticating the findings of the research and making it more reliable.
On the basis of product medical polymers market is classified into polypropylene, polyethylene, polyvinyl chloride, thermoplastic elastomer, polystyrene, polyoxymethylene and others as per the report. Polypropylene accounted for the major market share based on its exceptional ability to tolerate repetitive steam and autoclave sterilization process. Moreover polypropylene is extensively used in production of medical equipment as it’s stiff, chemically inert, lightweight, eco-friendly, and cheaper.
By application market is segmented as medical devices & equipment, medical packaging and others. Medical devices and equipment is the leading application under this segment based on the high count of elderly population along with rising prevalence of chronic medical conditions.
North America with its established and strong healthcare infrastructure was the dominant market among the rest of the world. The other regions studied in the report are North America, Europe, Latin America and Middle East & Africa. The regional spread of all the segments and sub segments are detailed in the report.
The Report Segments Global Medical Polymers Market -
- Polyvinyl Chloride
- Thermoplastic Elastomer
- Medical Devices & Equipment
- Medical Packaging
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Players Profiled In the Report:
BASF, Bayer, Celanese, Dow Chemical, DSM, DuPont, Eastman, Evonik, Exxon Mobil, Formosa Plastics, Hexpol, INEOS, Kraton, Raumedic, Shanghai New Shanghua, Solvay, and Tekni-Plex Inc.
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