Medical Polymers - A Revolution in the Manufacturing of Medical Devices: Infinium Global Research

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Mar 02, 2020, 08:30 ET

PUNE, India, March 2, 2020 /PRNewswire/ -- The medical polymers are widely used in the medical and pharmaceutical industry for various applications such as devices, equipment, packaging and others. Infinium global research has recently published a global report on "Medical Polymer Market (Product - Medical Fibers and Resins, Medical Elastomers, and Biodegradable Medical Plastics; Application - Medical Devices and Equipment, Medical Packaging, and Other Applications): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025" published by Infinium Global Research", the reported study estimated the market for medical polymer will reach up to USD 26.81 billion, with a Compound annual growth rate of 9.17%, in the forecast period (2018-2025).

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The Global Medical Polymer Market is Intensely Competitive With a Large Number of Multinational and Local Players

The global medical polymer market is highly competitive and fragmented in nature. The market is characterized by a large number of multinational as well as local players competing in the market. A number of new entrants are arriving in this competitive market. Factors such as the abundance of raw material suppliers, low production cost and low capital requirements are favoring the new players to enter the medical polymer market. However, a significant share in the market is held by the bigger players in the market.

Product Diversification and Geographical Expansion are the Major Growth Strategies Implemented by the Key Players in the Global Medical Polymer Market

In order to grow the leading companies in the market are focusing on strategies such as product diversification and geographical expansion. Recently, Eastman Chemical Company expanded its production facilities at different manufacturing sites in Middelburg, The Netherlands, and Jefferson, Pennsylvania. Moreover, most of the major players in the market have licensed and patented their products. This gives them a competitive advantage over the other players in the market. For instance, Bayer AG has registered their medical polymers brand name Makrolon®, similarly, DSM N.V. has their medical polymers product under the licensed brand name Akulon®, while Dow Chemical Company sell their trademark polymer products as DOW™ HEALTH+™ polymers.

Increasing Demand for Medical Devices and Medical Products is Augmenting the Demand for Medical Polymers

The medical device industry is expected to grow with a stable rate, with global annual sales forecast to rise by over 5 percent a year and reach nearly USD 800 billion by 2030. There is an increase in demand for the number of medical products ranging from surgical gloves to drug delivery devices to artificial joints to imaging equipment and packaging products. Moreover, an increase in demand for advanced medical technology such as home care wearables and shift toward minimally invasive medical procedures are creating strong demand for medical devices and implants. The medical polymers have thus become more advanced as the global market for high-quality medical devices continues to swell. These polymers are better alternatives for materials such as glass, ceramics, and metals thereby increasing the growth prospects of polymers in the medical devices industry. Thus, driving the demand for medical polymers in the marketplace.

Diverse Benefits Offered by Medical Polymers is Aiding the Growth of Medical Polymers Market

Additionally, medical polymers offer various benefits such as greater flexibility, comfort, and mobility. These polymers are better suited to the medical applications as they offer lighter weight, better biocompatibility, and lower cost. PVC is the most widely used plastic material for medical applications followed by PE, PET, PS, and PP. PVC is a versatile plastic that is extensively used in pre-sterilized single-use medical applications. Furthermore, they are also used for packaging due to lightweight, low cost, durability, and transparency. Therefore, several benefits offered by medical polymers increases its demands in the medical sector, thereby fueling the growth of the medical polymer market.

Medical Fibers and Resins Segment is Set to Drive the Global Medical Polymer Market

By product type, the medical fibers and resins dominate the global medical polymers market. Resin composites are now used in over 95% of all anterior teeth direct restorations and 50% of all posterior teeth direct restorations. In medicine, Polyacrylamide Resin is used for single-use bone-fixation device, also fiber-reinforced composites have been used in orthopedics as implants, osseous screws, and bearing surfaces. Among the applications, the medical devices and equipment segment is expected to grow with a lucrative rate in the forecast period. The growing use of polymers in medical tubing, molded components, catheter balloons, medical films, fluid transport and dispensing, medical equipment, breathing systems, medical implants, drug delivery, and wound care is driving the growth of medical polymers in medical devices and equipment.

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Global Medical Polymer Industry Coverage

Chapter - 1 Preface

Report Description
Research Methods
Research Approaches

Chapter - 2 Executive Summary

Medical Polymers Market Highlights
Medical Polymers Market Projection
Medical Polymers Market Regional Highlights

Chapter - 3 Global Medical Polymers Market Overview

Introduction
Market Dynamics
Porter's Five Forces Analysis
IGR-Growth Matrix Analysis
Value Chain Analysis of Medical Polymers Market

Chapter - 4 Medical Polymers Market Macro Indicator Analysis

Chapter - 5 Global Medical Polymers Market by Product

Medical Fibers and Resins
Medical Elastomers
Biodegradable Medical Plastics

Chapter - 6 Global Medical Polymers Market by Application

Medical Devices and Equipment
Medical Packaging
Other Applications

Chapter - 7 Global Medical Polymers Market by Region 2019-2025

North America
Europe
Asia-Pacific
RoW

Chapter - 8 Company Profiles and Competitive Landscape

BASF SE
Bayer Material Science AG
Celanese Corporation
DSM N.V.
E. I. du Pont de Nemours Company
Eastman Chemical
Formosa Plastics Corporation, U.S.A.
Huizhou Foryou Medical Device Co. Ltd.
Dow Chemical Company
Sinopec Beijing Yanshan Company
Other Companies

Browse in-depth TOC on "Medical Polymer Market"

Research Insight: About Us

Infinium Global Research is a business consulting and market research firm; a group of experts that caters to fulfilling business and market research needs of leading companies in various industry verticals and business segments. The company also serves government bodies, institutes and non-profit/non-government organizations to meet their knowledge and information needs.

Through our information services and solutions, we assist our clients to improve their performance and assess the market conditions to achieve their organizational goals. Our team of experts and analysts are engaged in continuously monitoring and assessing the market conditions to provide the knowledge support to our clients. To help our clients and to stay updated with the advances and inventions in technology, business processes, regulations and environment, Infinium often conducts regular meets with industry experts and opinion leaders. Our key opinion leaders are involved in monitoring and assessing the progress in the business environment, so as to offer the best opinion to our clients.

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