Introduction of the Medical Polymers Market Report

Medical polymers can be defined as macromolecules that can be produced from natural as well as synthetic sources and they are used as additives and fillers to medical plastics, which are utilized in medical equipment, pharmaceutical packaging, and other medical process. The medical polymers are utilized in various medical devices including bulb syringes, blood-pressure cuffs, and catheters, bags for intravenous (IV) fluids, oxygen masks, drip chambers, gaskets, cushioning, insulation, bag spouts, caps, and fittings, among others.

To have an edge over the competition by knowing the market dynamics and current trends of “Medical Polymers Market”, request for Sample Report here

Market Dynamic

Key Drivers and Emerging Trends

Growth in the healthcare industry owing to the outbreak of COVID 19 pandemic along with the rise in the expenditure for the production and development of safe medicines, medical tools, and devices; rising availability of home healthcare service; and rising demand for secure medical packaging products are some of the major factors expected to drive the growth of the medical polymers market share. Moreover, introduction of automated method of medical polymer production including machine learning and robotics, and the development of biologically compatible polymers are further expected to provide huge growth opportunities to the market. Furthermore, according to the World Bank, the healthcare expenditure is around 9.8% of the world GDP in 2018 owing to the increasing focus towards the advancements of medical products and devices. This is anticipated to contribute to the increase in the demand for medical polymers over the forecast period.

Restraint in the Medical Polymers Market

However, the complex process of polymer synthesis and, high cost of raw materials are some of the factors expected to hamper the growth of the medical polymers market during the forecast period.

Do you want to know more about the Research process and detailed Methodology, Request Research Methodology of this report

Product – Segment Analysis

Based on the product, biodegradable plastics segment is expected to grow significantly over the forecast period owing to their advantages that includes non-toxic response; metabolized in the body after use; easily processed into the final product; high shelf life; and can be easily sterilized. Moreover, increasing use of biodegradable plastics in tissue engineering, drug delivery system, and in a range of surgical applications, including fracture fixation plates, bone defect fillers, joint replacements, artificial tendons and ligaments and bone cements is further augmenting the market growth.

Application – Segment Analysis

Based on the application, medical packaging is expected to account for a prominent share in the market primarily due to the increasing utilization of plastics and bioplastics in medical devices and pharmaceutical products for enhanced product life and protection from damage and contamination. According to Plastic Oceans International, packaging is one of the largest end-use market segment accounting for over 40% of total plastic usage. This is expected to contribute to the market growth.

In case, any of your pain points areas are not covered in the current scope of this report, Request for Free Customization here

Regional – Segment Analysis:

Based on region, North America is expected to account for a notable share in the market over the forecast period. This is primarily due to increasing government healthcare spending in North America, the growing consumer consciousness towards healthcare, and rising demand for better medical facilities. According to the U.S. Centres for Medicare & Medicaid Services (CMS), U.S. health care spending grew 4.6% in 2019, reaching $3.8 trillion and the health spending accounted for 17.7% of the nation’s Gross Domestic Product. This is expected to support the growth of the market.

Top Market Players

Several leading medical polymers companies operating in the market, include, Evonik Industries AG, Formosa Plastics Corporation, BASF SE, Celanese Corporation, Solvay, Covestro AG, Bayer AG, Koninklijke DSM N.V., Exxon Mobil Corporation, and Dow, Inc. among others. 

Key Developments: 

• In 2019, Evonik Industries AG, launched a bioresorbable portfolio of PLA-PEG copolymers for use in implantable medical device applications. The RESOMER PLA-PEG copolymers match mechanical strength of standard polylactide (PLA) polymers but enable degradation rates up to six times faster. It is designed to enhance device performance and accelerate patient healing for wound closure, paediatric and other applications.

Segments covered in the Report:

The global Medical Polymers market has been segmented on the basis of product, application, and key regions. Based on product, the market is segmented into medical resins & fibres, medical elastomers, and biodegradable plastics. Based on the application, the market is segmented into medical equipment & devices, medical packaging, and others. 

For detailed scope of the “Medical Polymers Market” report request a Sample Copy of the report

Key questions answered in this research report:

• • At what pace is global Medical Polymers Market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Medical Polymers Market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Medical Polymers Market?
  • Which product generated maximum revenues in 2020 and identify the most promising product during the forecast period?
  • What are the various applications of global Medical Polymers Market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2020
Market Forecast Period	2021-2028
Market Revenues Currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Product, By Application, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Evonik Industries AG, Formosa Plastics Corporation, BASF SE, Celanese Corporation, Solvay, Covestro AG, Bayer AG, Koninklijke DSM N.V., Exxon Mobil Corporation, and Dow, Inc. among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Medical Polymers Market by Product

• • Medical Resins & Fibres
  • Polyvinyl Chloride
  • Polypropylene
  • Polyethylene
  • Polystyrene
  • Others
  • Medical Elastomers
  • Styrene block co-polymer
  • Rubber latex
  • Others
  • Biodegradable Plastics

Global Medical Polymers Market by Application

• • Medical Equipment & Devices
  • Medical Packaging
  • Others

Global Medical Polymers Market by Region

• • North America Medical Polymers Market (Option 1: As a part of the free 25% customization)
    • North America Medical Polymers Market by Product
    • North America Medical Polymers Market by Application
    • US Medical Polymers Market All-Up
    • Canada Medical Polymers Market All-Up
  • Europe Medical Polymers Market (Option 2: As a part of the free 25% customization)
    • Europe Medical Polymers Market by Product
    • Europe Medical Polymers Market by Application
    • UK Medical Polymers Market All-Up
    • Germany Medical Polymers Market All-Up
    • France Medical Polymers Market All-Up
    • Spain Medical Polymers Market All-Up
    • Rest of Europe Medical Polymers Market All-Up
  • Asia-Pacific Medical Polymers Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Medical Polymers Market by Product
    • Asia-Pacific Medical Polymers Market by Application
    • China Medical Polymers Market All-Up
    • India Medical Polymers Market All-Up
    • Japan Medical Polymers Market All-Up
    • Rest of APAC Medical Polymers Market All-Up
  • RoW Medical Polymers Market (Option 4: As a part of the free 25% customization)
    • RoW Medical Polymers Market by Product
    • RoW Medical Polymers Market by Application
    • Brazil Medical Polymers Market All-Up
    • South Africa Medical Polymers Market All-Up
    • Saudi Arabia Medical Polymers Market All-Up
    • UAE Medical Polymers Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Medical Polymers Market All-Up

Major Players Operating in the Medical Polymers Market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Evonik Industries AG
  • Formosa Plastics Corporation
  • BASF SE
  • Celanese Corporation
  • Solvay
  • Covestro AG
  • Bayer AG
  • Koninklijke DSM N.V
  • Exxon Mobil Corporation
  • Dow, Inc.