Medical Polymers Market 2021: Potential growth, attractive valuation make it is a long-term investment | Know the COVID19 Impact | Top Players: Medical Polymers(BASF SE, Bayer AG, Kraton Performance Polymers Inc., Eastman Chemicals Company, SABIC Innovati

The Global Medical Polymers Market accounted for US$ 16.01 billion in 2020 and is estimated to be US$ 32.92 billion by 2030 and is anticipated to register a CAGR of 7.50%. Medical polymer is a biodegradable plastics or elastomers used in healthcare and medical applications. Medical polymers are used in joint replacements, spinal implants, and cranial injuries. Medical grade polymer materials are an essential part of the modern healthcare system. These materials comply with global regulatory requirements and are specifically engineered and manufactured for medical use. In our case, their availability is guaranteed for a longer period than ordinary grades. Common thermoplastic materials used in the manufacturing of medical plastic products include polycarbonate, polypropylene, polyethylene or the formulation of custom polymers to meet specific medical device applications. Both synthetic and natural biodegradable polymers have been used as surgical materials, and these polymers degrade in the body through hydrolysis or enzymes, respectively.
The report “Global Medical Polymers Market, By Product Type (Fibers and Resins, Medical Elastomers, and Biodegradable Medical Polymers), By Application (Medical Devices and Equipment, Medical Packaging, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis, and Forecast till 2030”

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Driver:
Increasing demand for medical polymers in the manufacturing of medical devices and equipment and medical packaging is expected to drive growth. The demand is expected to majorly increase due to the rising demand to tackle the COVID-19 pandemic situation worldwide. The continuously rising demand for medical packaging products for COVID-19 is projected to influence the market positively. The growth of the home healthcare market on account of low costs compared to hospital care and intensive care has resulted in the rise in demand for medical devices.

Restrain:
The market expansion is projected to be hampered by fluctuating raw material prices, strict laws governing new goods, and a lengthy regulatory approval procedure. Players in the market are expected to benefit from R&D to develop advanced plastics, as well as the development of patient-specific implants and 3D printed devices. Furthermore, waste management issues pose a problem.

Key Highlights:
• In 2020, California-based SLA 3D printer manufacturer Nexa3D and global chemical company Henkel have launched a new polymer for 3D printing called xMED412. The polypropylene (PP)-like material combines enhanced strength properties with the biocompatibility of medical-grade materials, potentially making it well-suited to producing medical devices.
• In 2020, Clariant Plastics and Coatings Healthcare Polymer Solutions has completed development and testing of new polymer materials specially formulated to resist degradation caused by exposure to high humidity and temperature.

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Competitive Landscape & their strategies:
The Key players operating in the global medical polymer are BASF SE, Bayer AG, Kraton Performance Polymers Inc., Eastman Chemicals Company, SABIC Innovative Plastics US LLC, The Dow Chemical Company, Tianjin Plastics Research Institute Co. Ltd, Victrex Plc, and Lubrizol Corporation. Prominent players operating in the target market are focusing on the strategic partnerships as well as launching of the products in order to gain competitive edge in the target market.

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About Report:
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.

Explore Extensive Coverage of Prophecy Market Insights Healthcare Industry:

Key questions answered in the report:

• What will the market growth rate of Medical Polymers Market in 2026?
• What are the key factors driving the global Medical Polymers Market?
• Who are the key manufacturers in Medical Polymers Market space?
• What are the market opportunities, market risk and market overview of the Global Medical Polymers market?
• What are sales, revenue, and price analysis of top manufacturers of Medical Polymers Global market?
• What are sales, revenue, and price analysis by types and applications of Medical Polymers Market?
• What are sales, revenue, and price analysis by regions of Medical Polymers market?

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