Medical Polymers Market to be Dominated by Medical Devices & Components Segment Through 2027
Growing implementation of
medical polymers and increasing investment in technological advancement are
factors to drive the demand for the medical polymer market in the forecast
period, 2023-2027.
According to TechSci Research
report, “Medical Polymers Market -
Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027”, The Global Medical
Polymers Market is expected to increase at an impressive ratio in the projected
period, 2022-2027. Medical polymers are synthetic materials structured as
elastomer, filament, and sap. Clinical polymers are protective materials in
clinical segment packaging and clinical device manufacturing. According to the
global medical polymer market in 2021, the medical market plastic market will
be around 22.8 billion US dollars in 2019 and is expected to reach 32 billion
US dollars in 2024. The above data shows that the demand for medical treatment
will be impacted as the population grows. Therefore, the need for medical
polymers will affect the projected period. Apart from these, increasing
awareness about lightweight and home-based devices are other factors expected
to impact the market's growth through 2027 positively.
Around the world,
different healthcare institutions are building to match the benchmark set by
the WHO. The demand for medical equipment will increase to match the demand.
Due to changes in global relations and war, there are considerable differences
in demand and supply quantities leading to the fluctuation in prices. The
government provides funds and operates research institutions around the
countries to tackle the issue and develop innovative polymers. Therefore,
considering the above factor it is expected that the need for medical polymer
will rise in the anticipated year.
Browse over XX market
data Figures spread through 110 Pages and an in-depth TOC on "
Global Medical Polymers Market "
The Global Medical
Polymers Market is segmented based on type, and application:
Based on product
type, the market is divided into fibres & resins, medical elastomers,
biodegradable polymers, and others. Medical Elastomers are expected to hold the
largest market share in the forecast period, 2023-2027. Among all its
categories, medical elastomers have all the desired characteristics required,
such as strength-to-strength ratio, making them an ideal polymer type.
Based on End User
Industry Type, the market is divided into medical device packaging, medical
devices & components, orthopaedic soft goods, wound care, cleanroom
supplies, mobility aids, and others. As per estimates, medical devices &
components will experience the highest market share during the forecast period.
Due to the light weight of their substitute products, heat resistance, and
easily moulding abilities help the manufacturer to make products that customers
can easily operate.
Major
companies operating in Global Medical Polymers Market are:
·
BASF SE
·
Celanese
Corporation
·
Dow
Chemical Company
·
Eastman
Chemical Corporation
·
Evonik
Industries AG
·
Eastman
Chemical Corporation
·
Evonik
Industries AG
·
KRATON
CORPORATION
·
Trinseo
SA
·
Covestro
AG
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"The
North American region is expected to dominate the global medical polymers
market due to growing population, health awareness in people and increasing
healthcare sector. The global medical polymers market is expected to grow at an
impressive rate due to the rising adoption of medical polymers and increasing
investment in the technological development of medical polymers. The Statista
report state that almost 1353.5 million users are expected to reach in the year
2025 and the average revenue per patient is expected to amount to 57.33 USD.
Thus, the demand for polymers used in the production of medical equipment and
accessories will be directly influenced by the growth of the medical polymers
market in the upcoming year.
Additionally,
surgical gloves, syringes, insulin pens, IV tubes, catheters, and inflatable
splits used for medical purposes are made from medical polymers. Thus, the
versatile use for different purposes, technological advancement, favorable
government policies, and the marketer's effort will impact the market's growth
and propels the Global Medical Polymers Market growth till 2027." said Mr.
Karan Chechi, Research Director with TechSci Research, a research-based global
management consulting firm.
“Medical Polymers Market,
2027- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027,
By Type (Fibers & Resins, Medical Elastomers, Biodegradable Polymers, and
Others), By Application (Medical Device Packaging, Medical Devices &
Components, Orthopedic Soft Goods, Wound Care, Cleanroom Supplies, Mobility
Aids, Others), By Company and By Region has
evaluated the future growth potential of Global Medical Polymers Market and
provides statistics & information on market size, structure, and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in global medical polymers market.”
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