Global Medical Polymer Market expected to record a CAGR of ~9% during the forecast period (2017-2028): Ken Research

What Is The Size Of Global Medical Polymer Industry?

Global Medical Polymer market is growing at a CAGR of ~% in 2017-2022 and is expected to reach ~USD 25 Bn by 2028.

The Medical Polymer Market is largely driven by growing chronic diseases, rising number of patients worldwide, and surging healthcare infrastructure by government active participation and investments.

The medical polymer market is driven by surging chronic diseases such as cancer, diabetes, stroke, and other infectious viruses. According to World Health Organization, stated that nearly 10 million deaths in 2020 are caused by cancer worldwide, the most common cases of cancer were lung, prostate, skin, stomach, colon. The increasing number of cases due to chronic diseases worldwide, enforcing governments and players to upgrade technology via medical devices or surgeries to cure the disease, which is likely to benefit the medical polymer market.

COVID-19 has helped in the growth of the medical polymer market. Since the start of the pandemic, the requirement for medicines and other medical products has been rising, it requires special packaging, which helped the medical polymer market to accelerate. As the pandemic is slowing down, it is estimated that the medical polymer market remains significant in the forecasted period, owing to the growing medical conditions and surgeries worldwide.

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Global Medical Polymer Market By Product Type

The Global Medical Polymer market is segmented by Product type into Fibers & Resins, Medical Elastomers, Biodegradable Polymers and Others.

Fibers & resins segment held the largest market share of the global medical polymer market in 2022, owing to its extensive usage in various applications.

Fibers & resins include multiple sub-segments including polypropylene, polyethylene, polystyrene, and others. Polycarbonate polymer provides high chemical and electrical resistance, which assists them to replace metal and glass in medical products.

Increased usage of resins in numerous medical applications such as spinal implants, cranial injuries, hip, and joint replacements, and others.

Global Medical Polymer Market By Processing Method

The Global Medical Polymer market is segmented by Processing Method into Blow Fill Seal, Injection Stretch Blow Molding, Extrusion Blow Molding and Others.

The extrusion blow molding segment accounted for the largest market share in 2022, owing to the easier and cost-effective process.

Extrusion blow molding is used to create medium to large hollow parts with complex geometries or highly technical equipment such as DEF tanks, HVAC ducts, lawn mower seats, and others.

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Global Medical Polymer Market By Application

The Global Medical Polymer market is segmented by Application into Medical Device Packaging, Medical Components, Wound Care, Orthopedic Soft Goods, Implants and Others.

The medical component application segment held the largest market in 2022, owing to an increased usage of polymers in medical equipment and devices.

Polymer and polymer matrix composite helped the healthcare and medical industry to provide quality services, with multiple benefits such as enhanced safety, maintaining sterility, and others.

Suring in the usage of polymer in surgical instruments, diagnostics equipment, medical tubing, molded components, and others.

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

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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 Chemical 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 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 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.

This release was published on openPR.