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Medical Polymers Market 2019 analysis by trends, top key players & forecast to 2024

Author : Rahul Varpe | Published Date : 2019-05-06 

The ever-growing geriatric population across the globe and the rising awareness regarding efficient medical devices and equipment will also fuel medical polymers market, set to cross a valuation of USD 24 billion by 2024, with a CAGR estimation of 9% 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.

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.

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Global pharmaceutical device market was valued over USD 300 billion in 2015 and is anticipated to register a notable CAGR of more than 6% over the next seven years. U.S. held more than 45% of this share in 2015, subject to which pharmaceutical device industry from the U.S. is estimated to grow remarkably over the next few years. This will significantly propel U.S. medical polymers market as well.

Rising utilization of polymers such as polyphenylsulfone, polyether ether ketone, and polyetherimide in pharmaceutical equipment will also contribute to the growth of medical polymers industry.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

  1. BASF SE
  2. Bayer Material Science AG
  3. Celanese Corporation
  4. DSM N.V.
  5. E. I. du Pont de Nemours Company
  6. Eastman Chemical
  7. Evonik Industries AG
  8. Exxon Mobil Corporation
  9. The Dow Chemical Company
  10. Huizhou Foryou Medical Device Co. Ltd.
  11. Kraton Performance Polymers Inc.
  12. Tianjin Plastics Research Institute Co. Ltd.
  13. Formosa Plastics Corporation, U.S.A.
  14. Shanghai New Shanghua Polymer Material Co., Ltd.
  15. Sinopec Beijing Yanshan Company
  16. Ningbo Yonghua Resin Co. Ltd.
  17. SINOPEC Shanghai Petrochemical Co. Ltd.
  18. SABIC Innovative Plastics
  19. Lubrizol Corporation

Medical polymers industry from medical packaging applications will register a notable growth rate over the next seven years, subject to the production of biodegradable and bio-based polymers for packing medical products and disposables. In addition, the government as well as leading medical organizations have introduced legislations pertaining to the medical disposables and the usage of polymers for packaging, which will propel medical polymers market from medical packaging applications, set to grow at a rate of 9% over 2016-2024.

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Medical devices and equipment on the other hand, accounted for more than 50% of the overall medical polymers industry in 2015. Pertaining to the properties of zero chemical corrosion and ease of application, medical polymers market from medical devices & equipment will grow at a CAGR of 8% over 2016-2024.

Environmental concerns pertaining to medical disposables will positively impact biodegradable medical plastics industry, set to grow at a CAGR of 15% over 2016-2024. The surging development of varied bio-based plastics will also influence medical polymers market size from biodegradable medical plastics.

Nevertheless, manufacturers are constantly focusing on developing innovative, highly graded, cost-effective polymers, which may increase the scope of this market. In addition, the high demand for home-based medical care subject to the rising geriatric population and the prevalence of chronic diseases will drive medical polymers industry over the next seven years.

About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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