Medical Polymers Market Trends, Future Demands and Forecast by 2031

The global medical polymers market size was US$ 15.9 billion in 2021. The global medical polymers market is forecast to grow to US$ 35.8 billion by 2030 by registering a compound annual growth rate (CAGR) of 9.1% during the forecast period from 2022 to 2030.

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Biodegradable plastic, elastomers like thermoplastic elastomers, and natural & polymers like resins and fibres are all referred to as medical polymers. They are considered suitable for a variety of medical applications due to their superior biocompatibility, low-cost, and lightweight. In the medical business, polymers are widely used in products like surgical instruments, catheters, implants, accessories, and diagnostic systems.

Factors Influencing the Market
The surging demand for medical polymers from the healthcare sector will primarily drive their demand during the study period. The global market for medical polymers will also grow as a result of factors like the steadily increasing need for pharmaceutical devices and the creation of cutting-edge medical technology. Apart from that, the rising prevalence of cardiovascular disease, rising infections, and other illness occurrences will also fuel the growth of the medical polymers market during the study period.
Due to improvements made in engineering plastics like PEEK, PMMA, PET, and ABS, polymers have recently gained popularity in the medical industry. Given that they adhere to safety standards, these plastics are perfect for use in medical equipment. The stability, durability, structural strength, formability, and inertness of ceramics and metals can be matched by engineering plastics used as medical polymers, which are also more lightweight and resource-efficient. Thus, all of these benefits of medical polymers will drive the growth of the market during the study period.
New launches in the sector will contribute to the market growth. For instance, Eastman unveiled its "Tritan MXF," a next-generation copolyester, in 2019. It significantly provides chemical resistance and higher strength and is easy to process. Thus, more such launches in the future will have a profitable impact on the medical polymers market.
On the flip side, fluctuating prices of raw materials may limit the growth of the medical polymers market during the study period.

COVID-19 Impact Analysis
The COVID-19 pandemic has had a long-term positive effect on the medical polymers market. It is majorly due to the rise in healthcare expenditure and growth in the demand for novel drugs and devices. Moreover, governments are investing highly in the healthcare sector as the pandemic has highlighted the need for improved healthcare infrastructure. Thus, the COVID-19 pandemic is expected to have a positive impact on the medical polymers market.

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Regional Analysis
North America accounted for the largest market share in the global medical polymers and is expected to have a notable contribution in the coming years as well. Because of the growing cost of healthcare and the growing public interest in health and fitness, North America will continue to lead the global market for medical polymers. Additionally, the prevalence of chronic diseases and the region's aging population are expected to drive market growth for medical polymers. Further, the region's thriving pharmaceutical packaging companies are expected to amplify the growth of the market in the near future.

Competitors in the Market
• BASF SE
• Bayer Material Science AG,
• Celanese Corporation,
• DSM N.V.,
• E. I. du Pont de Nemours Company,
• Eastman Chemical,
• Evonik Industries AG,
• Exxon Mobil Corporation,
• The Dow Chemical Company,
• Huizhou Foryou Medical Device Co. Ltd.,
• Kraton Performance Polymers Inc.,
• Other Prominent Players

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Market Segmentation
The global medical polymers market segmentation focuses on Product, Application, and Region.
By Product Type
• Medical resins and fibers
• Medical elastomers
• Biodegradable plastics
• Other
By Application
• Medical Devices & Equipment
• Medical Packaging
By Regional Outlook
● North America
o The U.S.
o Canada
o Mexico
● Europe
▪ Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
▪ Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
● Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific

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● Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
● South America
o Brazil
o Argentina
o Rest of South America

Table of Content

Chapter 1: Global Medical Polymers Industry Overview

Chapter 3: Market Dynamics

Chapter 4: Top Company Profiles

Chapter 5: Global Medical Polymers market Competition, by Players

Chapter 6: Global Market Size by Regions

Chapter 7: Global Market Segment by Application

Chapter 8: Global Medical Polymers Industry Segment by Type

Chapter 9: Market Chain, Sourcing Strategy, and Downstream Buyers

Chapter 10: Strategies and key policies by Distributors/Suppliers/Traders

Chapter 11: Key Marketing Strategy Analysis, by Market Vendors

Chapter 12: Market Effect Factors Analysis

Chapter 13: Global Medical Polymers market Size Forecast (2023-2031).

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This release was published on openPR.