Medical Polymers Market Size, Revenue, Trend & Regional Forecast 2018-2024 By Top Players - Evonik Industries, Bayer AG, DuPont, Dow Chemical, Eastman Chemical, Huntsman, Celanese
North America medical polymers industry size worth over USD 4.5 billion in 2015, will grow lucratively over the coming timeframe, driven by rising medical spending across this region. Additionally, growing awareness about fitness and health will generate heavy revenue for the North America medical polymers market. U.S. is likely to be a major revenue contributor.
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Medical Polymers Market size is slated to cross USD 24 billion by 2024; as per a new research report by Global Market Insights, Inc. Rapidly enhancing pharmaceutical devices demand owing to the prevalence of heart diseases, infections, or general illness and technological advancements in the treatment process will steer the global medical polymers market growth in upcoming years. Increasing health awareness among developed nations will also support the industry throughout the forecast spell.
Medical Polymers Market, by Product
• Medical fibers & resins
• Polyvinyl chloride (PVC)
• Polypropylene (PP)
• Polyethylene (PE)
• Polystyrene (PS)
• Medical elastomers
• Styrene block copolymer
• Rubber latex
• Biodegradable medical plastics
Medical Polymers Market By Application
• Medical devices & equipment
• Medical packaging
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Medical polymers industry from medical packaging applications will register a notable growth rate over the next seven years, subject to the production of biodegradable and bio-based polymers for packing medical products and disposables. In addition, the government as well as leading medical organizations have introduced legislations pertaining to the medical disposables and the usage of polymers for packaging, which will propel medical polymers market from medical packaging applications, set to grow at a rate of 9% over 2016-2024.
Medical devices and equipment on the other hand, accounted for more than 50% of the overall medical polymers industry in 2015. Pertaining to the properties of zero chemical corrosion and ease of application, medical polymers market from medical devices & equipment will grow at a CAGR of 8% over 2016-2024.
Environmental concerns pertaining to medical disposables will positively impact biodegradable medical plastics industry, set to grow at a CAGR of 15% over 2016-2024. The surging development of varied bio-based plastics will also influence medical polymers market size from biodegradable medical plastics.
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The market is fragmented with the manufacturing focus shifting toward the emerging regions such as Latin America and Asia Pacific, on account of the heavy demand across these regions. Evonik Industries, Bayer AG, DuPont, Celanese, Dow Chemical, Huntsman Corporation, and Eastman Chemical are some of the noteworthy industry participants in the medical polymers market.
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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