Medical Polymers Market Report Size with Valuable Insights, Share, Growth Survey, and Leading Top Competitors from 2023-2030 | BASF SE, Bayer MaterialScience AG, Celanese Corporation

The global medical polymers market is projected to surpass US$ 20.12 Bn by the end of 2030, in terms of revenue, growing at CAGR of 10.0% during the forecast period (2023 to 2030)- as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Medical polymers are widely used in various medical applications such as medical devices, medical packaging, medical equipment and tools, and medical fibers & resins. These polymers exhibit properties such as durability, flexibility and biocompatibility that make them suitable for a variety of medical applications.

Market Dynamics:

The medical polymers market is driven by rising demand from medical devices industry. Medical devices such as surgical instruments, drug delivery devices, implants, and others extensively use polymers owing to their lightweight and durable properties. In addition, growing need for advanced healthcare infrastructure and increasing aging population globally has augmented the demand for medical devices, subsequently fueling the market growth of medical polymers. Advancements in polymer technology has led to development of novel biodegradable and bioabsorbable polymers that can dissolved or metabolized by the body. These new polymers have applications in sutures, stents, and scaffolds for tissue engineering.

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Top Companies Covered In This Report:

★ BASF SE
★ Bayer MaterialScience AG
★ Celanese Corporation
★ DSM N.V.
★ E. I. du Pont de Nemours Company
★ Eastman Chemical Company
★ ExxonMobil Corporation
★ Evonik Industries AG
★ The Dow Chemical Company

*Disclaimer: Major Players are sorted in no particular order.

Detailed Segmentation:

By Product Type:

★ Fibers and resin
★ Medical Elastomers
★ Biodegradable plastic

By Applications:

★ Medical devices and equipment's
★ Medical packaging
★ Others (cardio, tissue culture)

Key Region/Countries are Classified as Follows:

◘ North America (United States, Canada, and Mexico)
◘ Europe (Germany, France, UK, Russia, and Italy)
◘ Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
◘ South America (Brazil, Argentina, Colombia, etc.)
◘ The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)

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Major Drivers of Increased Demand for Lightweight Materials in Medical Devices:

The demand for lightweight medical devices that reduce procedural invasiveness continues to grow strongly. Medical device manufacturers are increasingly adopting engineering polymers in place of metals to design medical devices that are easier for physicians and patients to use. Polymers allow for the creation of smaller, more flexible catheters, guidewires, and other interventional tools that occupy less space and cause less discomfort when navigating through the body. The shift to less invasive procedures drives significant growth in demand for advanced polymer solutions.

Growing Preference for Minimally Invasive Surgical Procedures:

Minimally invasive surgery (MIS) such as laparoscopic procedures are now the standard of care for many conditions previously treated through open surgeries. MIS techniques result in less postoperative pain, shorter hospital stays, and faster recovery times for patients. To enable these benefits, medical device innovators rely on high-performance engineering thermoplastics and elastomers to miniaturize devices and instruments while maintaining strength, flexibility and other critical attributes. The broad adoption of MIS globally will persist as a major factor supporting medical polymer market expansion.

Risk of Supply Chain Disruptions Due to Dependency on Offshore Manufacturing:

While global sourcing of raw materials and outsourced contract manufacturing increase business efficiencies, it also exposes medical device OEMs to risks of supply chain disruptions from economic or political instability in supplier countries. The COVID-19 pandemic highlighted vulnerabilities from offshoring as travel restrictions and factory shutdowns disrupted the manufacture and shipping of medical plastics. Stronger inventory management practices and diversification of supply partners partially mitigate this challenge. Nonetheless, over-reliance on overseas markets and transportation remains a constraint for the medical polymers industry.

Opportunities in Development of Bioresorbable Polymer Devices:

Bioresorbable polymers offer a compelling value proposition for applications that do not require permanent implantable materials. Temporary stents, sutures, fixation devices and drug-eluting applications represent a huge potential market for bioresorbable resins and composites. These materials are non-toxic, harmless to living tissue, and gradually absorb harmlessly into the body over time after fulfilling their purpose. Significant investments into research and commercialization of bioabsorbable technologies promise to fuel new areas of long-term growth for medical-grade polymer suppliers.

Trend Toward Personalized, 3D Printed Medical Devices:

Additive manufacturing or 3D printing is gaining traction in medical applications as a tool for rapid custom device design and production. Complex geometries that were previously too costly to produce through conventional means can now be easily fabricated through 3D printing, unlocking opportunities for personalized implants, prosthetics and customized surgical guides. This emerging technology is a natural fit with high-performance engineering thermoplastics and elastomers commonly used in medical device polymer formulations. As 3D printing further advances, it may drive new material requirements and encourage further materials innovation within the medical polymers industry.

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Key Questions Answered in This Report on Medical Polymers Market

• How much revenue will the global Medical Polymers Market generate by the end of the forecast period?

• What regions currently contribute the maximum share to the overall global market?

• What are the indicators expected to drive the global Medical Polymers Market?

• Which region is likely to be a lucrative market during the forecast period?

• What are the essential strategies incorporated by key stakeholders in the global Market to expand their geographical presence?

• What are the major advancements witnessed in the global Medical Polymers Market?

• This report answers these questions and more about the global Market, aiding major stakeholders and key players in making the right decisions and strategizing for the advancement of their business.

Some of the Major Points of TOC cover:

Chapter 1: Techniques & Scope

1.1 Definition and forecast parameters
1.2 Methodology and forecast parameters
1.3 Information Sources

Chapter 2: Latest Trends Summary

2.1 Regional trends
2.2 Product trends
2.3 End-use trends
2.4 Business trends

Chapter 3: Medical Polymers Market Insights

3.1 Market fragmentation
3.2 Market landscape
3.3 Vendor matrix
3.4 Technological and Innovative Landscape

Chapter 4: Medical Polymers Market, By Region

Chapter 5: Company Profiles

5.1 Company Overview
5.2 Financial elements
5.3 Product Landscape
5.4 SWOT Analysis
5.5 Systematic Outlook

Chapter 6: Assumptions and Acronyms

Chapter 7: Research Methodology

Chapter 8: Contact (Continue . . .)

Contact Us:

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About Us:

Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

This release was published on openPR.