Healthcare PMMA Market Future Challenges and Industry Growth Outlook 2024

U.S. Healthcare PMMA Market led the industry demand for North America. It was evaluated at more than $48.1 million for 2015. Large aging population in U.S. along with strict FDA (Food and Drug Administration) rules to reduce use of harmful plastics in medical sector is predicted to favorably influence industry expansion.

Europe Healthcare PMMA Market, dominated by Italy, UK, France, Spain and Germany, is anticipated to record CAGR of about 5% and cross revenue mark of $71 million by end of forecast period. Rising demand for medical equipments like dentures, incubators and desiccators is one of the key factors contributing to the industry growth in the region.

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Global Healthcare PMMA Market size which was evaluated at more than $116 million in 2015 is projected to register a CAGR of higher than 7.6% till the end of forecast period. Shift in trend towards substituting traditional medical polymers like polycarbonate and polyvinyl chloride with high performing harmless polymers is expected to propel industry demand in medical applications. Increasing spending on global healthcare applications coupled with heavy medical equipment sales will produce more avenues for global industry across healthcare segment.

Growth drivers
1. Emergence of PMMA as an alternative to conventional medical polymers
2. Rising prevalence of osteopenia and osteoporosis
3. Increasing application scope in medical devices

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Medical ware was dominant application segment in 2015 and produced more than $52.1 million revenue during that year. Rising occurrence of cataract and myopia owing to rising old age population can promote demand of intraocular lenses fuelling industry demand in medical ware applications.

Pharmaceutical handling segment is projected to record a CAGR of more than 4.1% by 2024 and register maximum growth. Launch of RFID (Radio frequency identification)cabinets in pharmaceutical sector can increase product demand. Rising occurrence of different chronic ailments can favorably influence cabinets demand and propel industry growth in pharmaceutical handling applications.

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Key Healthcare PMMA Market players profiled in report are Evonik Industries, Arkema, Aristech Surfaces, Kydex, Lucite International, Dow Chemical Company, Plaskolite Incorporation and Polyone Corporation.

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