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Medical Engineered Materials Global Market Report 2024 Market Outlook Report 2024-2033 | Size, Trends, Analysis, Insights, Overview
Medical Engineered Materials Market Size
As per the report, the medical engineered materials market size has grown rapidly in recent years. It will grow from $19.59 billion in 2023 to $22.67 billion in 2024 at a compound annual growth rate (CAGR) of 15.7%. The medical engineered materials market size is expected to see rapid growth in the next few years. It will grow to $38.77 billion in 2028 at a compound annual growth rate (CAGR) of 14.4%.
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Rising Chronic Disease Cases Fueling Growth In Medical Engineered Materials Market
The increase in instances of chronic diseases are expected to drive the growth of the medical engineered materials market going forward. Chronic diseases refer to conditions that last a year or more and require ongoing medical attention or limit activities of daily living, or both. The nanoengineered parts can be used to build a miniature replica of a heart chamber and cure heart-related problems. For instance, in January 2023, according to the National Center for Biotechnology Information (NCBI), a US-based National Library of Medicine, there would be 142.66 million people with chronic diseases worldwide by the year 2050, up from 71.522 million in 2020. Therefore, the increasing instances of chronic diseases are driving the growth of the medical engineered materials market.
Product Innovations Transforming The Medical Engineered Materials Market
Major companies operating in the medical engineered materials market are introducing new products to gain a competitive edge in the market. For instance, in May 2022, Celanese Corporation, a US-based specialty materials company launched Celanex MT PBT 2406MT GF20. It is a high-performance material designed for medical devices and various other applications. It offers exceptional strength, stiffness, and noise-free sliding capabilities, making it suitable for Class I, Class II, and Class III medical device applications, as well as automotive, electrical, electronics, industrial machinery, and consumer goods. This tribologically modified PBT+PET grade, reinforced with 20% glass fiber, provides versatile solutions for multiple industries.
The medical engineered materials market covered in this report is segmented -
1) By Type: Medical Plastics, Medical Foams, Medical Films, Medical Adhesives, Medical Elastomer
2) By Application Type: Medical Devices, Medical Disposables, Medical Wearables, Advanced Woundcare
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Major companies operating in the medical engineered materials market include Evonik Industries AG, Covestro AG, BASF SE, Solvay SA, Saudi Basic Industries Corporation, Trelleborg AB, Koninklijke DSM N.V, Celanese Corporation, DuPont de Nemours Inc., Ethicon Inc., Henkel AG & Co. KGaA, Huntsman Corporation, Momentive Performance Materials Inc., Nitto Denko Corporation, Recticel Ltd., De Nederlandse Staatsmijnen, Victrex plc, Ensinger GmbH, RTP Company, Foster Corporation, Zeus Industrial Products Inc., Saint-Gobain SA, Arkema SA, Eastman Chemical Company, Lubrizol Corporation, PolyOne Corporation, Quadrant AG, Rochling Group, DSM Biomedical, Invibio Ltd., Carpenter Technology Corporation, Heraeus Medical Components GmbH, CeramTec GmbH, Morgan Advanced Materials plc, Freudenberg Medical LLC, Synectic Engineering Inc., Medtronic plc, Abbott Laboratories, Johnson & Johnson, Siemens Healthineers AG
Contents of the report:
1. Executive Summary
2. Medical Engineered Materials Market Report Structure
3. Medical Engineered Materials Market Trends And Strategies
4. Medical Engineered Materials Market - Macro Economic Scenario
5. Medical Engineered Materials Market Size And Growth
…..
27. Medical Engineered Materials Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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