What Is The Size Of Global Medical Polymer Industry?
Global Medical Polymer market is growing at a CAGR of ~% in 2017-2022 and is expected to reach ~USD 25 Bn by 2028.
The Medical Polymer Market is largely driven by growing chronic diseases, rising number of patients worldwide, and surging healthcare infrastructure by government active participation and investments.
The medical polymer market is driven by surging chronic diseases such as cancer, diabetes, stroke, and other infectious viruses. According to World Health Organization, stated that nearly 10 million deaths in 2020 are caused by cancer worldwide, the most common cases of cancer were lung, prostate, skin, stomach, colon, and rectum. The increasing number of cases due to chronic diseases worldwide, enforcing governments and players to upgrade technology via medical devices or surgeries to cure the disease, which is likely to benefit the medical polymer market.
COVID-19 has helped in the growth of the medical polymer market. Since the start of the pandemic, the requirement for medicines and other medical products has been rising, it requires special packaging, which helped the medical polymer market to accelerate. As the pandemic is slowing down, it is estimated that the medical polymer market remains significant in the forecasted period, owing to the growing medical conditions and surgeries worldwide.
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Global Medical Polymer Market By Product Type
The Global Medical Polymer market is segmented by Product type into Fibers & Resins, Medical Elastomers, Biodegradable Polymers and Others.
Fibers & resins segment held the largest market share of the global medical polymer market in 2022, owing to its extensive usage in various applications.
Fibers & resins include multiple sub-segments including polypropylene, polyethylene, polystyrene, and others. Polycarbonate polymer provides high chemical and electrical resistance, which assists them to replace metal and glass in medical products.
Increased usage of resins in numerous medical applications such as spinal implants, cranial injuries, hip, and joint replacements, and others.
Global Medical Polymer Market By Processing Method
The Global Medical Polymer market is segmented by Processing Method into Blow Fill Seal, Injection Stretch Blow Molding, Extrusion Blow Molding and Others.
The extrusion blow molding segment accounted for the largest market share in 2022, owing to the easier and cost-effective process.
Extrusion blow molding is used to create medium to large hollow parts with complex geometries or highly technical equipment such as DEF tanks, HVAC ducts, lawn mower seats, and others.
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Global Medical Polymer Market By Application
The Global Medical Polymer market is segmented by Application into Medical Device Packaging, Medical Components, Wound Care, Orthopedic Soft Goods, Implants and Others.
The medical component application segment held the largest market in 2022, owing to an increased usage of polymers in medical equipment and devices.
Polymer and polymer matrix composite helped the healthcare and medical industry to provide quality services, with multiple benefits such as enhanced safety, maintaining sterility, and others.
Suring in the usage of polymer in surgical instruments, diagnostics equipment, medical tubing, molded components, and others.
Key Topics Covered in the Report
- Snapshot of the Global Medical Polymer Market
- Industry Value Chain and Ecosystem Analysis
- Market size and Segmentation of the Global Medical Polymer Market
- Historic Growth of the Overall Global Medical Polymer Market and Segments
- Competition Scenario of the Market and Key Developments of Competitors
- Porter’s 5 Forces Analysis of the Global Medical Polymer Industry
- Overview, Product Offerings, and Strengths & Weaknesses of Key Competitors
- COVID-19 Impact on the Overall Global Medical Polymer Market
- Future Market Forecast and Growth Rates of the Total Global Medical Polymer Market and by Segments
- Market Size of Type / End-Users Segments with Historical CAGR and Future Forecasts
- Analysis of the Global Medical Polymer Market
- Major Production/Supply and Consumption/Demand Hubs in Each Major Region
- Major Continent-wise Historic and Future Market Growth Rates of the Total Market and Segments
- Overview of Notable Emerging Competitor Companies within Each Major Continent
Major Players Mentioned in the Report
- BASF SE
- Evonik Industries AG
- Covestro AG
- Kraton Corporation
- Eastman Chemical Company
- Celanese Corporation
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Notable Emerging Companies Mentioned in the Report
- Cocoon Biotech
- BioMed Element
- Cypris Materials
Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report
- Medical Polymer Manufacturing Companies
- Medical Polymer Marketing Companies
- Medical Polymer Material Suppliers
- Potential Investors in Medical Polymer Companies
- Bio Polymer Manufacturers
- Medical Packaging and Component Manufacturers
- Consulting Companies in the Chemical and Healthcare Market
- Government And Research Organizations Working in the Chemical and Healthcare Industries
- Investment Banks Targeting the Chemical and Healthcare Industry
- Medical Machine and Equipment Manufacturers
- Medical Plastics Manufacturers
- Laboratory Equipment Manufacturers
- Healthcare Products Manufacturers
- Medical Device Packaging Manufacturers
- Plastics Chemical Manufacturers
- Organic Polymers Manufacturers
- Medical Implant Packaging Manufacturers
- Medical Soft Goods Manufacturers
- Biopharma Devices Manufacturers
- Government Healthcare Departments
Time Period Captured in the Report
- Historical Period: 2017-2021
- Forecast Period: 2022-2028F
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