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Medical Polymers Market By Product Type (Medical Resins & Fibers, Medical Elastomers, Biodegradable Plastics), By Application (Medical Equipment & Devices, Medical Packaging, Others), By Regional Analysis (North America, Europe, Asia Pacific, Latin America, Middle East and Africa) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021 – 2026

Industry Insights

[203+ Pages Report] According to a survey released by Facts and Factors, the global medical polymers market was valued at USD 16,500 Million in 2020 and is predicted to reach USD 28,290 Million by the end of 2026, rising at a CAGR of nearly 9.40% between 2021 and 2026.

logoMarket Overview     

"Polymer" is a large molecule or macromolecule that is composed of several repeats of high-molecular-mass units. A medical polymer is a biodegradable plastic or elastomer used in healthcare and medical applications. These materials are utilized in regenerative medicine and tissue engineering and include bulk materials, coatings, and medicinal nano-carriers. Moreover, they are biodegradable, biocompatible, sterilizable, as well as resistant to fatigue, heat, and electrical currents. Medical polymers with varying molecular weights, crosslinking and crystallization degrees, copolymers, and blends as well as bioactive surface functionalization are being tested by several producers at the moment. Medical polymers are widely utilized in the production of medical equipment and packaging, and the pharmaceutical industry's strong expansion in recent years has resulted in increased demand for medical polymers.

logoIndustry Growth Factors

The rising requirement for medical devices &equipment produced from medical polymers is one of the key factors driving the global medical polymers market in the upcoming years. This market is also expected to develop because of the increasing need for medicinal polymers, which include features such as chemical inertness and extended fatigue resistance. However, the high cost of raw materials may stymie the expansion of the medical polymers market in near future. Furthermore, rigorous laws and regulations imposed by governing organizations such as the United States Food and Drug Administration (FDA) and the European Union (EU) are impeding the target market's growth. Furthermore, increased government investment in research and development operations provides a chance to drive the target market's growth. Furthermore, rising demand for biodegradable polymers is a trend driving growth in the global medical polymers market throughout the projected period.

logoSegmentation Analysis

The global medical polymers market is segregated based on product type, application, and region. Based on product type, the global medical polymers industry is categorized into medical resins & fibers, medical elastomers, and biodegradable plastics. In 2020, the fiber and resin category accounted largest market share 74% and is expected to expand significantly during the projection period. The increasing need for sanitary, durable, and comparatively lightweight materials is projected to fuel the expansion of the thermoplastics market in the medical industry in emerging countries such as China and India in the coming years. Fibers and resins, such as PVC and PP, account for the bulk of the market due to their wide variety of applications in medical devices and equipment. The growing need for new and complex medical equipment, along with an older population and the growth of the home healthcare sector, has resulted in unusually high penetration of these medical polymers. Based on product type, the global medical polymers industry is categorized into medical equipment & devices, medical packaging, others. The medical devices market was the most significant application category in 2020, accounting for 53.80% of worldwide sales. In 2020, the medical devices industry will account for around 54.0% of worldwide revenue. Devices with low coefficients of friction, such as surgical instruments, catheters, and insulin pens have contributed significantly to the growth in demand for medical devices and equipment in recent years.

logoReport Scope:

Report Attribute

Details

Market Size in 2020

USD 16,500 Million

Projected Market Size in 2026

USD 28,290 Million

CAGR Growth Rate

9.40%

Base Year

2020

Forecast Years

2021-2026

Key Market Players

BASF SE, Bayer Material Science AG, Celanese Corporation, Colorite Compounds, DowDuPont, DSM N.V., E. I. du Pont de Nemours Company and Others

Key Segments

Product Type, Application, and Region

Major Regions Covered

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa

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logo Regional Analysis

North America was accounted for the largest market share for medical polymers in the world. In terms of revenue, the North American medical polymers market accounted for the largest market share of the worldwide medical polymers market in 2020. North America is projected to continue to dominate the market within the forecast period. The medical polymers market in the Asia Pacific is anticipated to grow at the fastest rate in terms of value due to growing demand from the region's healthcare sector within the forecast period. China and India are expected to account for substantial revenue shares in the Asia Pacific area, with China's CAGR expected to be the highest during the projection period. During the projected period, the European medical polymers market is expected to develop at a modest rate.

Medical Polymers Market

logo Competitive Players

Some main participants of the global medical polymers market are BASF SE, Bayer Material Science AG, Celanese Corporation, Colorite Compounds, DowDuPont, DSM N.V., E. I. du Pont de Nemours Company, Eastman Chemical, Evonik Industries AG, Exxon Mobil Corporation, Formosa Plastics Corporation, HEXPOL, Huizhou Foryou Medical Device Co. Ltd., INEOS, Kraton Performance Polymers Inc., Raumedic, Shanghai New Shanghua Polymer Material Co. Ltd, Sinopec Beijing Yanshan Company, Solvay, The Dow Chemical Company, Tianjin Plastics Research Institute Co. Ltd., Victrex, amongst others.

logoBy Product Type:

  • Medical Resins & Fibers
    • Polyvinyl Chloride
    • Polypropylene
    • Polyethylene
    • Polystyrene
    • Others
  • Medical Elastomers
    • Styrene Block Co-polymer
    • Rubber Latex
    • Others
  • Biodegradable Plastics

logoBy Application:

  • Medical Equipment & Devices
  • Medical Packaging
  • Others

logoBy Region:

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East & Africa

Covid-19

Medical Polymers Market

The pandemic continues to cause unprecedented disruption across industries worldwide.Get detailed insights regarding the impact of COVID-19 on the market. Request Sample

Industry Major Market Players

  • BASF SE
  • Bayer Material Science AG
  • Celanese Corporation
  • Colorite Compounds
  • DowDuPont
  • DSM N.V.
  • E. I. du Pont de Nemours Company
  • Eastman Chemical
  • Evonik Industries AG
  • Exxon Mobil Corporation
  • Formosa Plastics Corporation
  • HEXPOL
  • Huizhou Foryou Medical Device Co. Ltd.
  • INEOS
  • Kraton Performance Polymers Inc.
  • Raumedic
  • Shanghai New Shanghua Polymer Material Co. Ltd
  • Sinopec Beijing Yanshan Company
  • Solvay
  • The Dow Chemical Company
  • Tianjin Plastics Research Institute Co. Ltd.
  • Victrex

Frequently Asked Questions

Strict enforcement of laws by government authorities mandating Medical Polymers Market.
According to Facts and Factors research report, the global Medical Polymers Market accrued earnings worth approximately XX (USD Billion) in 2020 and is predicted to gain revenue of about XX(USD Billion) by 2028, is set to record a CAGR of nearly XX% over the period from 2021 to 2028.
North America will contribute lucratively towards the global market value over the estimated timeline. The regional market surge is subject to large-scale presence of giant participants in countries such as the U.S. Apart from this, favorable compensation policies along with high acceptance of new Medical Polymers Market will drive regional market trends. With regional governments enforcing strict laws pertaining to drug abuse, the market for Medical Polymers Market in North America is set to witness exponential growth over years to come. Legalization of cannabis in countries such as Canada and U.S. through passing of acts in parliament is likely to enlarge scope of Medical Polymers Market in North America over coming decade.
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