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Revolutionizing Healthcare Materials: Medical Polycarbonate Market Analyzes Growth Dynamics, Segments, Competitive Landscape, and Future Forecast
Medical Polycarbonate Market
As per the report, the medical polycarbonate market size has grown strongly in recent years. It will grow from $1.31 billion in 2023 to $1.40 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The medical polycarbonate market size is expected to see strong growth in the next few years. It will grow to $1.84 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%.
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Impact Of Increased Prevalence Of Chronic Diseases On The Medical Polycarbonate Market
The increased prevalence of chronic diseases is expected to propel the growth of the medical polycarbonate market going forward. Chronic disease is a long-lasting condition that typically requires ongoing medical attention and can limit daily activities or quality of life. Chronic disease prevalence is rising due to altered habits, inheritance, and exposure to chemicals, toxins, and pollutants in the air. Medical polycarbonate is used in devices and instruments needed for treating, diagnosing, and tracking chronic illnesses. For instance, in January 2023, according to the National Center for Biotechnology Information (NCBI), a US-based medicine library, the number of people aged 50 and above who suffer from one or more chronic illnesses is expected to increase by 99.5% by 2050, from 71.522 million in 2020 to 142.66 million. Therefore, the increased prevalence of chronic diseases drives the medical polycarbonate market.
Innovative Ultra-Durable Polycarbonate Solutions Propel Medical Market Competitiveness
Major companies operating in the medical polycarbonate market are developing innovative products, such as ultra-durable material solutions, specifically designed for the healthcare and life sciences sectors, to gain a competitive edge in the market. Ultra-durable material solutions refer to materials specifically engineered to withstand extreme conditions and stresses without significant degradation or failure. For instance, in February 2023, Covestro AG, a Germany-based manufacturer of polymer materials, launched the Makrolon 3638 polycarbonate, an ultra-durable polycarbonate. This innovative material offers exceptional strength, chemical resistance, and biocompatibility, making it ideal for medical devices and equipment that require prolonged use and sterilization. Its high thermal stability ensures consistent performance under extreme conditions, while its durability reduces the need for frequent replacements, enhancing cost-efficiency and reliability in medical applications.
The medical polycarbonate market covered in this report is segmented -
1) By Grade: Lipid-resistant Grade, High-temperature Grade, Other Grades
2) By Processing Technology: Extrusion, Injection Molding, Blow Molding, Other Processing Technologies
3) By Application: Fluid Delivery And Intravenous (IV) Connection Components, Renal Dialysis Products, Cardiovascular Devices, Surgical Instruments, Other Applications
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Major companies operating in the medical polycarbonate market are Bayer AG, LG Chem Ltd., Saudi Basic Industries Corporation, Asahi Kasei Corporation, Covestro AG, Lotte Chemical Corporation, Evonik Industries AG, Royal DSM N.V., Celanese Corporation, Teijin Limited, Trinseo S.A., Kolon Industries Inc., Avient Corporation, Daicel Corporation, Tekni-Plex Inc., Plaskolite LLC, RTP Company, Mitsubishi Engineering-Plastics Corporation, Chi Mei Corporation, Polyplastics Co. Ltd.
Contents of the report:
1. Executive Summary
2. Medical Polycarbonate Market Report Structure
3. Medical Polycarbonate Market Trends And Strategies
4. Medical Polycarbonate Market - Macro Economic Scenario
5. Medical Polycarbonate Market Size And Growth
…..
27. Medical Polycarbonate Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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