Medical Polymer Market Size Holds US$ 38.3 Bn Potential By 2030
The global medical polymer market size accounted for US$ 18.9 billion in 2021 and is projected to reach around USD 38.3 billion by 2030, growing at a CAGR of 8.16% from 2022 to 2030.
Medical Polymers Market Key Takeaways:
- By product, the fibers & resins segment has dominated the market with 54% market share in 2021.
- The biodegradable segment is growing at a 10.3% CAGR b from 2022 to 2030.
- By application, the medical components accounted 41% market share in 2021.
- By region, North America region has garnered 43.5% market share in 2021.
The global medical polymer market report provides a Point-by-Point and In-Depth analysis of global market size, regional and country-level market size, market share, segmentation market growth, competitive landscape, sales analysis, opportunities analysis, strategic market growth analysis, the impact of domestic and global market key players, value chain optimization, trade regulations, recent developments, product launches, area marketplace expanding, and technological innovations. Global medical polymer market study covered in the report spans a forecast period from 2022 to 2030.
The study offers a comprehensive analysis on diverse features, including production capacities, demand, product developments, revenue generation, and sales in the medical polymer market across the globe.
A comprehensive estimate on the medical polymer market has been provided through an optimistic scenario as well as a conservative scenario, taking into account the sales of medical polymer during the forecast period. Price point comparison by region with global average price is also considered in the study.
Medical Polymers Market Scope
|Market Size in 2022||USD 20.44 Billion
|Market Size by 2030||USD 38.3 Billion|
|Growth Rate from 2022 to 2030||CAGR of 8.16%|
|Forecast Period||2022 to 2030|
|Segments Covered||Product, Application, Processing Method and Geography|
Medical Polymers Market Key Highlights:
Reports Coverage: It incorporates key market sections, key makers secured, the extent of items offered in the years considered, worldwide containerized medical polymer market and study goals. Moreover, it contacts the division study gave in the report based on the sort of item and applications.
Market Outline: This area stresses the key investigations, market development rate, serious scene, market drivers, patterns, and issues notwithstanding the naturally visible pointers.
Market Production by Region: The report conveys information identified with import and fare, income, creation, and key players of every single local market contemplated are canvassed right now.
Also Read: Dermal Fillers Industry to Expand by 8% by 2030
Government Initiatives to Boost the Pharmaceutical Sector
Government organizations in countries are taking initiatives for the growth and development of the pharmaceutical sector by investing in R&D activities to come up with technically advanced equipment, helping in eradicating fatal diseases around the globe is expected to positively influence the medical polymers market demand during the forecast period. Additionally, shifting preference of patients toward the homecare health treatment as they are cost-effective as well as convenient in nature has resulted in high demand for medical disposables worldwide. These factors will contribute in attaining higher market share during the forecast period.
Technological Advancements to Fuel the Market Growth
Higher application of fibers and resins in the medical polymers market is resulting as their excellence in carrying out the artificial implants as well as higher biocompatibility of the product coupled with improving surgical procedures need advanced medical devices & equipment are factors accelerating market growth. On the other side, price fluctuations in raw material and presence of stringent rules & regulations related to usage of polymers are factors expected to hinder the market growth.
COVID-19 Impact Analysis
The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the chemical industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020.
Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries.
Medical Polymers Market Players
The report includes the profiles of key medical polymer market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information, key development in past five years.
Major companies operating in this area are:
- BASF SE
- NatureWorks LLC
- Covestro AG
- Celanese Corporation
- Eastman Chemical Corporation
- Evonik Industries AG
- Dow Inc.
- Exxon Mobil Corporation
- Koninklijke DSM NV
- Formosa Plastics Corporation
- Foryou Medical
- KRATON CORPORATION
- Trinseo S.A.
- Fibers & Resins
- Others (engineering thermoplastics such as nylon, PET, PLA, PHA, PA, PC, ABS)
- Medical Elastomers
- Styrene Block Copolymer
- Rubber latex (NR + Butyl Rubber+Silicone rubber)
- Others (TPU, TPO, TPV)
- Biodegradable Polymers
- Polyhydroxyalkanoate (PHA)
- Medical Device Packaging
- Medical Components
- Orthopedic Soft Goods
- Wound Care
- Cleanroom Supplies
- BioPharm Devices
- Mobility Aids
- Sterilization & Infection Prevention
- Tooth Implants
- Denture-based Materials
- Other Implants
By Processing Method
- Blow Fill Seal
- Extrusion Blow Molding
- Injection Stretch Blow Molding
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Southeast Asia and Rest of APAC)
- Latin America (Brazil and Rest of Latin America)
- Middle East and Africa (GCC, North Africa, South Africa, Rest of MEA)
It involves company databases such as Hoover’s: This assists us to recognize financial information, the structure of the market participants and industry’s competitive landscape.
The secondary research sources referred in the process are as follows:
- Governmental bodies, and organizations creating economic policies
- National and international social welfare institutions
- Company websites, financial reports and SEC filings, broker and investor reports
- Related patent and regulatory databases
- Statistical databases and market reports
- Corporate Presentations, news, press release, and specification sheet of Manufacturers
Primary research includes face-to-face interviews, online surveys, and telephonic interviews.
- Means of primary research: Email interactions, telephonic discussions and Questionnaire-based research etc.
- In order to validate our research findings and analysis, we conduct primary interviews of key industry participants. Insights from primary respondents help in validating the secondary research findings. It also develops Research Team’s expertise and market understanding.
Why should you invest in this report?
If you are aiming to enter the global medical polymer market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for medical polymer are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2022-2030 so that you can plan your strategies to enter this market accordingly.
Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.
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