Pune, India, June 28, 2022 (GLOBE NEWSWIRE) -- According to MarketStudyReport, that global medical polymer market size was valued at USD 18.4 million in the year 2021 and is slated to expand at 8% CAGR over the course of the next six years, generating revenues worth USD 31 billion by 2028.
For a clear comprehension, the document splits the market into several segments based on product terrain, application scope, and regions to ascertain the lucrative verticals that are contributing to the overall remuneration by revealing their revenue share and growth rate forecasts for 2022-2028
The report encompasses the insights about the competitive framework as well as entails a list of companies that are indulging in innovative practices to strengthen their position in the industry space and amplify the returns.
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The development of market can be attributed to numerous variables such as flourishing pharmaceutical industry, surging demand from medical sector, and extensive spending in healthcare arena across the world.
For the unversed, medical polymers are commonly used in the fabrication of medical equipment & packaging as additives & injectables to improve the performance and are essential to the modern healthcare system.
Polymers are classified as synthetic and natural based on their source components. Naturally occurring polymers consist of bio-based polymers, natural rubber, and wood. Synthetic polymers include elastomers, fibers, and thermoset & thermoplastic resins.
Moreover, supportive initiatives by government & private organizations through investments for improvements in the pharmaceutical sector to produce technologically advanced equipment to enable the eradication of deadly ailments are further increasing the product uptake.
Besides, focus on developing innovative medical devices, branded medications, and healthcare services is boosting the application of medical polymers in wound care, packaging, and other medical components, which is likely to have a favorable impact on the progress of the business sphere through the review period.
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Additionally, the introduction of biodegradable polymers prompted to have a positive influence on the environment is creating promising opportunities for enterprises in this domain.
On the contrary, strict government laws & regulations are estimated to hamper the growth of worldwide medical polymer market in the forthcoming years.
Regional Overview:
Credible researchers suggest that North America market is poised to register a substantial revenue share during the assessment timeframe, attributed to the widespread awareness of personal healthcare which has pushed the individual healthcare expenditure, combined with the concentration of established players in the region. Moreover, huge demand from end-use industries, and rising research & development investments are anticipated to further propel regional expansion through 2028.
Meanwhile, Asia Pacific is projected to emerge as lucrative avenue for the industry during the research period, owing to the growing prevalence of lifestyle-related disorders like cardiac arrest and diabetes, along with the elevated demand for medical equipment and generic medicines in the region.
Competitive Dashboard:
The established names augmenting the competition in global medical polymer industry are Koninklijke DSM N.V., BASF SE, Arkema S.A., NatureWorks LLC, Exxon Mobil Corporation, Covestro AG, Evonik Industries AG, Celanese Corporation, Dow Inc., and Eastman Chemical Corporation among others.
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Global Medical Polymer Market, By Product (Revenue, USD Billion, 2018-2028)
- Biodegradable Polymers
- Fibers & Resins
- Medical Elastomers
- Others
Global Medical Polymer Market, By Application (Revenue, USD Billion, 2018-2028)
- Cleanroom Supplies
- Medical Device Packaging
- Wound Care
- Medical Components
- BioPharm Devices
- Orthopedic Soft Goods
- Mobility Aids
- Others
Global Medical Polymer Market, Regional Overview (Revenue, USD Billion, 2018-2028)
Europe
- France
- Italy
- Spain
- Germany
- UK
- RoE
Asia Pacific
- India
- Australia
- South Korea
- Japan
- China
- RoAPAC
North America
- U.S.
- Canada
Latin America
- Mexico
- Brazil
Rest of the World
Global Medical Polymer Market, Competitive Dashboard (Revenue, USD Billion, 2018-2028)
- Koninklijke DSM N.V.
- BASF SE
- Arkema S.A.
- NatureWorks LLC
- Exxon Mobil Corporation
- Covestro AG
- Evonik Industries AG
- Celanese Corporation
- Dow Inc.
- Eastman Chemical Corporation
Table of Content:
Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2028 (USD Billion)
1.2.1. Medical Polymer Market, by Region, 2020-2028 (USD Billion)
1.2.2. Medical Polymer Market, by Application,2020-2028 (USD Billion)
1.2.3. Medical Polymer Market, by Product,2020-2028 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Medical Polymer Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Medical Polymer Market Dynamics
3.1. Medical Polymer Market Impact Analysis (2020-2028)
3.1.1. Market Drivers
3.1.1.1. Growth of the medical industry
3.1.1.2. Rise in global healthcare expenditure
3.1.2. Market Challenges
3.1.2.1. Stringent government regulations
3.1.3. Market Opportunities
3.1.3.1. Biodegradable Polymers Use in Medical Application
Chapter 4. Global Medical Polymer Market Industry Analysis
4.1. Porter's 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter's 5 Force Model (2018-2028)
4.2. PEST Analysis
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
4.5. Top investment opportunity
4.6. Top winning strategies
Chapter 5. Risk Assessment: COVID-19 Impact
5.1.1. Assessment of the overall impact of COVID-19 on the industry
5.1.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global Medical Polymer Market, by Application
6.1. Market Snapshot
6.2. Global Medical Polymer Market by Application, Performance - Potential Analysis
6.3. Global Medical Polymer Market Estimates & Forecasts by Application2018-2028 (USD Billion)
6.4. Medical Polymer Market, Sub Segment Analysis
6.4.1. Medical Device Packaging
6.4.2. Medical Components
6.4.3. Orthopedic Soft Goods
6.4.4. Wound Care
6.4.5. Cleanroom Supplies
6.4.6. BioPharma Devices
6.4.7. Mobility Aids
6.4.8. Others
Chapter 7. Global Medical Polymer Market, by Product
7.1. Market Snapshot
7.2. Global Medical Polymer Market by Product, Performance - Potential Analysis
7.3. Global Medical Polymer Market Estimates & Forecasts by Product2018-2028 (USD Billion)
7.4. Medical Polymer Market, Sub Segment Analysis
7.4.1. Fibers& Resins
7.4.2. Medical Elastomers
7.4.3. Biodegradable Polymers
7.4.4. Others
Chapter 8. Global Medical Polymer Market, Regional Analysis
Related Report:
Medical Grade Silicone Market Size, COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 - 2028
The medical grade silicone market is projected to reach a significant valuation by 2028 on account of recent technological advancements in the field of dentistry. In addition, burgeoning product demand in orthopedic and prosthetics applications is estimated to foster industry growth over the forecast timeline. Medical grade silicone is a reliable substance that can be utilized in a variety of healthcare applications and is known for being versatile, non-toxic, and highly durable. Another important characteristic of medical grade silicone is its biological and chemical inertness, which makes it non-reactive to other chemicals and human tissue. Rising demand for plastic and cosmetic surgeries around the world has augmented market uptake in recent years. From the regional spectrum, the Latin America medical grade silicone market accounted for more than 11.5% of the overall industry revenue in 2021 and is set to garner notable gains over the study period. Increasing healthcare expenditure is likely to drive regional market development through the review timeline.
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