Medical Polymers Market Penetrative insights & latest trends over 2016-2024

The healthcare sector has observed a paradigm shift since the last few years, subject to which Medical Polymers Market will depict a lucrative growth path. Of late, there has been a spur in the prevalence of chronic ailments such as cardiovascular disorders, infections, hypertension, dementia, osteoporosis, and arthritis, thereby boosting global pharmaceutical and healthcare sectors, which are key drivers propelling medical polymers market. The ever-growing geriatric population across the globe and the rising awareness regarding efficient medical devices and equipment will also fuel medical polymers industry, set to cross a valuation of USD 24 billion by 2024, with a CAGR estimation of 9% over 2016-2024.

Global Market Insights has a new study based report titled " Medical Polymers Market Size By Product (Medical Fibers & Resins [PVC, PP, PE, Polystyrene], Medical Elastomers [SBC, Rubber Latex], Biodegradable Medical Plastics), By Application (Medical Devices & Equipment, Medical Packaging), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, South Africa, GCC), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024".

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The report offers all-inclusive analysis of:

1 Market structure
2 Factors restraining market growth
3 Market growth drivers
4 Opportunities and challenges
5 Market estimations and forecast for projected period

Companies operating in global medical polymers market adopt varied business strategies such as collaborations, R&D investments, and mergers & acquisitions to sustain their position. This industry is highly fragmented and involves the partaking of myriad local medium and large-sized businesses. Major players operating in medical polymers market include Evonik Industries, DuPont, Huntsman, Bayer AG, Dow Chemicals, Celanese Corporation, and Eastman Chemicals. Medical polymers market firms constantly strive to upgrade their product portfolio and improve their service sphere to score an edge over competitors.

Recently, at K 2016, the world’s largest plastics fair, Celanese Corporation showcased their range of reliable, safe, and compliant medical polymers that acknowledge issues such as dosage frequency and patient compliance. These polymers, when incorporated in medical devices & equipment, were designed to depict high performance, distinguishable appearance, and efficient operational ability. With many other companies undertaking similar efforts to develop high grade polymers for easy and safe treatment admission, global medical polymers industry size is set to rise a notch higher.

The Medical Polymers Market Report Consists of,

1. Methodology and Scope
2. Executive Summary
3. Medical Polymers Market Industry Insights

3.1 Industry segmentation
3.2. Industry size, forecast and growth expectations, 2016 - 2024
3.3. Industry ecosystem analysis
3.4. Raw material insights
3.5. Technology insights

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3.6. Regulatory framework
3.7. Industry dynamics
3.8. Key growth opportunities
3.9. Porter's analysis
3.10. Company market share, 2015
3.11. PESTEL analysis
3.14. Regional price trends

4. Medical Polymers Market Product Insights

Medical polymer market products include medical fibers & resins, medical elastomers, and biodegradable medical plastics. Fibers and resins include polyvinyl chloride (PVC), polypropylene (PP), polyethylene (PE), polystyrene (PS) and other thermoplastics. This segment generated over USD 8 billion for the global medical polymers market in 2015 and will grow at over 8% CAGR, on the account of advanced technologies to fine tune implant capabilities and improve the biocompatibility, along with rising awareness about health and hygiene in the developing regions.

Rising environmental concerns about medical disposables will have a noteworthy influence on the global biodegradable medical plastics in the forecast timespan. This product segment will likely grow at more than 15% CAGR in the overall medical polymers market up to 2024 owing to the development of various bio-based plastics. Medical elastomers segment has been further classified into styrene block copolymer, rubber latex, and other thermoplastic elastomers.

5. Medical Polymers Market Application Insights

Medical polymers market has also been segmented on the basis of uses into devices and equipment, packaging, and other specific applications such as in tissue culture, cardiovascular diseases, etc. Devices and equipment application accounted for over half of the global medical polymers market size in 2015 and will witness more than 8% CAGR up to 2024. Easy cleaning methods and negligible chemical corrosion of medical polymers will steer the product demand throughout the forecast span.

Development of bio based and engineered biodegradable polymers for packaging of medical products as well as medical disposables will flourish the packaging application of the global medical polymers market. Medical packaging will also rise substantially owing to the mandatory disposal norms. This segment will witness a CAGR more than 9% in the forecast span.

6. Medical Polymers Market Regional Insights

North America, driven by the U.S., will have a significant share of the global medical polymers market owing to its mature medical and pharmaceutical industry. Growing medical expenditure in the region and high awareness regarding health and fitness will boost the demand in the next few years. North America registered more than USD 4.5 billion in 2015 and will grow at a notable rate throughout the forecast period. Europe medical polymers market will witness a slow growth at less than 7% CAGR up to 2024 and will lose its share to Asia Pacific, Latin America, and Middle East & Africa, which will witness a high growth in the coming years.

Rapidly increasing healthcare initiatives in countries such as China, India, Bangladesh, Indonesia, and Pakistan will encourage growth in Asia Pacific. Increasing population coupled with unavailability of proper pharmaceutical facilities in the region will boost the growth at over 10% CAGR in the forecast period.

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7. Competitor Profiles

Global medical polymers market is fragmented with presence of several large and medium level companies. Key market participants include Bayer AG, Evonik Industries, Celanese, DuPont, Dow Chemical, Eastman Chemical, and Huntsman. Bayer and DuPont provide application specific customizations to augment their market share. The companies rely on various strategies including high R&D investments, merger & acquisitions, collaborations, and significant integrations in the value chain.

About Global Market Insights, Inc.:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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