Press release
Medical Polymers Market To Witness Increasing Revenue Growth During Forecast Period 2022 - 2031 : Fact.MR
As per a new Fact.MR study on medical polymers, the global market is anticipated to surpass a valuation of US$ 9.1 Bn in 2021, expanding at a high CAGR of 8.2% over the forecast period of 2021-2031.According to Fact.MR, a market research and competitive intelligence provider, over the past-half decade, the price of medical propylene has surged at a rapid rate as compared to conventional commodity polypropylene. This is primarily due to exclusive demand for medical polypropylene from the healthcare sector coupled with inelasticity of demand.
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Of the engineering thermoplastics and commodity medical polymers, the latter holds dominance in healthcare devices and pharmaceutical packaging. This is primarily due to ease of production of commodity medical polymers over engineering thermoplastics.
Apart from production feasibility, formability also plays a prime role in driving the sales of commodity medical polymers. Moreover, lower cost of polymer processing and integration have also the paved way for commodity polymers, especially polypropylene.
Medical Polymers Industry Key Segments
Polymer Material
Commodity Polymers
Medical Grade Polypropylene
Medical Grade Polyvinyl Chloride
Medical Grade Polyethylene
LDPE
HDPE
LLDPE
Medical Grade Polyesters
Engineering Thermoplastics
Polyvinyl Pyrrolidone (PVP)
PEEK
Polycarbonate
Others
By Application
Packaging
Injections
Medical Bags
Medical Tubes
Pharmaceutical Blisters and Trays
Microplates
Vials
Blister Packs
Others
Implants
Breast Implants
Orthopedic Implants
Spinal Implants
Others
Medical Wear
Gloves
Face Shields
Masks & Gowns
Others
Medical Devices
Pacemakers
Dental & Orthodontic Devices
Catheters
Contact Lenses
Others
By Processing Method
Blow Fill Seal
Injection Stretch Blow Molding
Extrusion Blow Molding
Others
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Key Takeaways from Market Study
The medical polymers market is estimated to expand 2.2X its current market value by 2031.
Polypropylene dominated the demand pie of commodity polymers with nearly 53% market share in 2020, and is anticipated to gain 30 BPS by 2031-end.
Medical device application growth is set to be at 6.9% CAGR over the period of 2021-2031, and is set to remain the most prominent application among all other segments.
Top 5 players capture nearly 25% of medical polymer sales across the globe.
Medical Polymers: Price Build-up Analysis
Despite high price points and moderate cost of production, manufacturers and distributors control the inventory storage of commodity as well as engineering thermoplastics. This control of storage volume is primarily due to huge cost associated with inventory maintenance and hold up stock, which eventually affects the margins of distributors.
Price build-up is assessed at each and every node, which provides an image of moderate margins for medical grade polymers, owing to extensive cost of inventory storage and moderate to low demand speculation over the product produced.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global medical polymers market, presenting historical market data (2016-2020) and forecast statistics for the period of 2021-2031.
The study reveals essential insights on the basis of by polymer material (commodity polymers (polypropylene, polyvinyl chloride, polyethylene (LDPE, HDPE, LLDPE), polyesters, engineering thermoplastics (polyvinyl pyrrolidone (PVP), PEEK, and polycarbonate, others), by application (packaging(injections, medical bags, medical tube, pharmaceutical blisters and trays, microplates, vials, blister packs, others), Implants (breast implants, orthopedic implants, spinal implants, others), medical wear(gloves, face shields, masks & gowns, others), medical devices (pacemaker, dental & orthodontic devices, catheters, contact lenses, others), by processing method(blow fill seal, injection stretch blow molding, extrusion blow molding, others) and key regions (North America, Latin America, Europe, East Asia, South Asia and Oceania, and the Middle East & Africa).
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