Global Medical Polymers Market Type (PVC, Polypropylene, Polyethylene, Polystyrene, Polycarbonate, PEEK, Hydrogel, Styrenic block copolymer, Rubber latex, Biodegradable, PLA, and Others), By Application (Surgical Instruments, Diagnostic Equipment, Orthopedic Implants, Electronic Implants, Dental Implants, Disposables, Packaging and Others)- Global Opportunity Analysis and Industry Forecast, 2020 – 2030

Medical Polymers Market held USD 17.5 billion in 2020 and is to grow with a CAGR of 8% from 2020-2030. Medical polymers are used in the medical industry for a number of human touch and contactless applications. Such products are primarily used in medical instruments, appliances, disposables (gloves, vials, tools) and manufacturing of packaging materials. Medical polymers are naturally biocompatible and either remain inert or are absorbed easily by the human body. Growing innovation in research and development, growing the use of medical polymers and emerging low-cost materials drive medical polymers market demand in the healthcare sector.

Market Dynamics and Factors:

Due to high adoption of polymers for implants due to superior fatigue resistance and chemical inertia there will be an elevating global medical polymer market growth. The increase in demand for high strength & low weight plastic materials, it is expected to drive the medical polymer market size. The medical polymer market is likely to register growth due to the production of composites and advanced polymers used in components such as handles, catheters and syringes for surgical instruments, which will be a major global medical polymers market trend. Being a key component in the manufacture of medical equipment & devices and packaging materials, the increasing demand for polymers has resulted in the medical polymers market growth over the past few years. The market for these polymers is likely to be driven by a rise in domestic and advanced product production, resulting in the growing medical polymers market size.                                               

Market Segmentation:

Depending upon the market type, the global medical polymers industry is segmented into PVC, polyethylene, polystyrene, polypropylene, PEEK, hydrogel, styrenic block copolymer, polycarbonate, biodegradable, rubber latex, pla, and others. On the basis of application, the market is bifurcated into the diagnostic equipment, surgical instruments, electronic implants, dental implants, packaging, orthopedic implants, disposables and others. Geographic classification includes regions comprising Asia-Pacific, Europe, North America, and RoW.

Geographic Analysis:

North America is projected to be the largest market powered by increasing chronic disease prevalence coupled with growing insurance coverage. The awareness of these products' health benefits, a low-cost advantage over metals and ceramics, and improved efficiency of these tools and equipment are also expected to fuel medical polymers market share. As a result of the increase in medical tourism, emerging economies like India and China are projected to see a significant growth of healthcare products, thus these regions will be holding a major medical polymers market share, during the forecast period Increasing Chinese government support through increased investments in research and development to manufacture these goods has also contributed to the region's surge in medical polymers market demand.

Competitive Scenario:

The key players of global medical polymers industry are Celanese Corporation, BASF SE, DSM N.V., E.I.du Pont de Nemours Company, Bayer Material Science AG,  Exxon Mobil Corporation,  Eastman Chemical,The Dow Chemical Company,  SINOPEC Shanghai Petrochemical Co. Ltd., Huizhou Foryou Medical Device Co. Ltd., Formosa Plastics Corporation, U.S.A., Sinopec Beijing Yanshan Company,  Kraton Performance Polymers Inc., Evonik Industries AG, Ningbo Yonghua Resin Co. Ltd., Shanghai New Shanghua Polymer Material Co. Ltd., SABIC Innovative Plastics, Lubrizol Corporation and Piaoan Group

Medical Polymers Market Report Scope