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3 Key Insights on the US$ 25 Billion Opportunity in the Global Medical Polymer Market: Ken Research

11-22-2022 03:09 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: Ken Research Pvt .Ltd

3 Key Insights on the US$ 25 Billion Opportunity in the Global

Driven by the growing number of diseases, and surging investment in medical infrastructure. The Global Medical Polymer Market is forecasted at approximately US$ 25 Bn by 2028 says Ken Research Study

Medical polymer is a material arranged into elastomers, filaments, and saps. Medical grade polymers are an essential part of the new-gen medical and healthcare system. These materials are specifically engineered and manufactured for medical use under global regulatory requirements. Medical-grade polymers are used in manufacturing medical devices, medical packaging, medical wear, cleanroom supplies, mobility aids, implants, wound care, denture-based materials, and others.

"Ken Research shares 3 key insights on this high-opportunity market from its latest research study."

For more insights on the market intelligence, refer to the link below: -

https://www.kenresearch.com/business-research/global-medical-polymer-market-outlook-2028/

1. Growing Investment in Healthcare Industry Worldwide, is a Driving Factor for This Market.

According to Ken Research Analysis, the global medical polymer market was valued at US$ 10 billion in 2017, it is estimated to be ~US$ 15 billion in 2022 and is forecasted to reach a market size of ~US$ 25 billion opportunities by 2028.

As per Canadian Institute for Health Information, total health spending in Canada is expected to reach US$ 308 billion in 2021. It is anticipated that health spending will represent 12.7% of Canada's gross domestic product (GDP).

The Indian Government is planning to introduce a credit initiative program worth US$ 6.8 billion to boost the country's healthcare infrastructure. The program will allow firms to leverage the fund to expand hospital capacity or medical supplies.

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The growing investment and initiative towards the healthcare industry are likely to boost the medical components, implants, medicine packaging, and others. Furthermore, increased investment in medical devices is likely to boost the medical polymer market.

2. Increasing Geriatric Population, is Likely to Fuel the Medical Polymer Market Growth.

According to The American Geriatric Society, ~30% of the 65-plus patient population will need to be cared for by a geriatrician, and each geriatrician can care for a patient panel of 700 older adults. ~30,000 geriatricians will be needed by 2030 to care for about 21 million older Americans.

As per the USA Department of Economics and Social Affairs, World Population Ageing 2017 publication, stated that the global population aged 60 years or over numbered 962 million in 2017, more than twice as large as in 1980, when there were 382 million older persons worldwide. The number of older people is expected to double again by 2050 when it is projected to reach nearly 2.1 billion.

The rise in the geriatric population requires serious medical conditions and healthcare needs, thereby fuelling the market growth of medical polymers. A rise in the aging population is also surging chronic diseases worldwide, which is escalating the demand for medical devices and products.

3. High Raw Material Prices, is Likely to Hamper the Growth of the Medical Polymer Market.

Enerdata, an energy intelligence company, stated in a report that global crude oil output rose by less than 1% in 2021 after a 7.4% drop in 2020. International oil prices rose by almost 70% in 2021.

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Synthetic polymers like polyethylene (PE), polypropylene (PP), nylon, polyester (PS), polytetrafluoroethylene (PTFE), and epoxy (plastics), are produced from petroleum hydrocarbons. Highly fluctuating prices and lower production of crude oil is a restraining factors for the medical polymer market.

Key Topics Covered in the Report

Snapshot of the Global Medical Polymer Market
Industry Value Chain and Ecosystem Analysis
Market size and Segmentation of the Global Medical Polymer Market
Historic Growth of the Overall Global Medical Polymer Market and Segments
Competition Scenario of the Market and Key Developments of Competitors
Porter's 5 Forces Analysis of the Global Medical Polymer Industry
Overview, Product Offerings, and Strengths & Weaknesses of Key Competitors
COVID-19 Impact on the Overall Global Medical Polymer Market
Future Market Forecast and Growth Rates of the Total Global Medical Polymer Market and by Segments
Market Size of Type / End-Users Segments with Historical CAGR and Future Forecasts
Analysis of the Global Medical Polymer Market
Major Production/Supply and Consumption/Demand Hubs in Each Major Region
Major Continent-wise Historic and Future Market Growth Rates of the Total Market and Segments
Overview of Notable Emerging Competitor Companies within Each Major Continent

Major Players Mentioned in the Report

BASF SE
Evonik Industries AG
Covestro AG
Kraton Corporation
Eastman Chemical Company
SABIC
Celanese Corporation
DSM
Arkema
INEOS

Notable Emerging Companies Mentioned in the Report

Cocoon Biotech
ADBioplastics
BioMed Element
XAMPLA
Cypris Materials

Key Target Audience - Organizations and Entities Who Can Benefit by Subscribing This Report

Medical Polymer Manufacturing Companies
Medical Polymer Marketing Companies
Medical Polymer Material Suppliers
Potential Investors in Medical Polymer Companies
Bio Polymer Manufacturers
Medical Packaging and Component Manufacturers
Consulting Companies in the Chemical and Healthcare Market
Government And Research Organizations Working in the Chemical and Healthcare Industries
Investment Banks Targeting the Chemazical and Healthcare Industry
Medical Machine and Equipment Manufacturers
Medical Plastics Manufacturers
Laboratory Equipment Manufacturers
Healthcare Products Manufacturers
Medical Device Packaging Manufacturers
Plastics Chemical Manufacturers
Organic Polymers Manufacturers
Medical Implant Packaging Manufacturers
Medical Soft Goods Manufacturers
Biopharma Devices Manufacturers
Government Healthcare Departments

Time Period Captured in the Report

Historical Period: 2017-2021
Forecast Period: 2022-2028F

For more insights on the market intelligence, refer to the link below: -

https://www.kenresearch.com/business-research/global-medical-polymer-market-outlook-2028/

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Ken Research Pvt. Ltd.,
Unit 14, Tower B3, Spaze I Tech Business Park, Sohna Road, sector 49 Gurgaon, Haryana - 122001, India

Ken Research is a Market Research and Consulting Firm, based out of India, Indonesia and UAE. Since 2011, we have been assisting clients globally with our Syndicate and Bespoke Market Research and Advisory Services.

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