Global Medical Polymers Market By Overview
Polymer is a long chain of repetitive unit of monomer chemically bounded to each other having high molecular weight. Due to polymers high efficient qualities such as biocompatibility, low-mass, and hydrophilic nature are the advantages offered by the medical polymers. Medical polymer is a biodegradable plastics or elastomers used in healthcare and medical applications. Medical polymers are used in joint replacements, spinal implants, and cranial injuries. Medical grade polymer materials are an essential part of the modern healthcare system. These materials comply with global regulatory requirements and are specifically engineered and manufactured for medical use. In our case, their availability is guaranteed for a longer period than ordinary grades. Common thermoplastic materials used in the manufacturing of medical plastic products include polycarbonate, polypropylene, polyethylene or the formulation of custom polymers to meet specific medical device applications. Both synthetic and natural biodegradable polymers have been used as surgical materials, and these polymers degrade in the body through hydrolysis or enzymes, respectively. Natural polymers include proteins, such as collagen, gelatin, albumin and fibrin, and polysaccharides, such as hyaluronic acid, chitosan and chitin. The Global Medical Polymers Market accounted for US$ 16.01 billion in 2020 and is estimated to be US$ 32.92 billion by 2030 and is anticipated to register a CAGR of 7.50%.
Global Medical Polymers Market By Dynamics
Demand for certain packaging methods
Demand for certain packaging methods including blood bags, syringes, and others is the major factor driving growth of the global medical polymers market. Due to rising population there is increasing demand of medication which may further support growth of the target market. Increased awareness of surgeries in people and technologically improved medical facilities is another factor propelling growth of the target market. Rapid technological development and investors significantly focusing on research in order to develop advanced products for high-performance and flexibility are other factors that aid in growth of the target market.
Certain applications in medical field
Certain applications in medical field such as cardio implants and devices, and tissue engineering are expected to surge growth of the global medical polymer market in the near future. Factors such as light weight, low cost, handy, and miniature devices in the healthcare industry and consumer’s preference are the other factors assisting growth of the target market. In addition, growing demand for medical polymers for implants, due to properties such as chemical inertness and longer fatigue resistance is other factor expected to surge growth of the target market.
High cost of raw material
However, high cost of raw material is the major restraint for the global medical polymer market. Moreover, stringent rules and regulation by governing bodies such as U.S. Food and Drug Association (FDA) and European Union (EU), are other factors hampering the growth of the target market.
Global Medical Polymers Market By Segmentation
The global medical polymer market is segmented on the basis of product type, application and region.
Based on product type, the global medical polymer market is divided into fibers and resins, medical elastomers, and biodegradable medical polymers. On the basis of application, the target market is bifurcated into medical devices and equipment, medical packaging, and others. The other application segment is further divided into tissue engineering and coronary stents.
Regional Insights:
On the basis of region, the global medical polymers market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is accounted for largest market share in terms of revenue contribution and is expected to maintain its dominance over the forecast period. This is attributed to the rising demand for medical implants and surgeries. Asia Pacific is projected to witness fastest growth over the forecast period, owing to increasing demand from the healthcare sector in countries in the region. Europe is expected to have moderate growth in the global medical polymer in the near future.
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Attribute |
Details |
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Base year for estimation |
2020 |
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Forecast period |
2020 – 2030 |
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Market representation |
Revenue in USD Million & CAGR from 2020 – 2030 |
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Market Segmentation |
By Product Type: Fibers and Resins, Medical Elastomers, and Biodegradable Medical Polymers By Application: Medical Devices and Equipment, Medical Packaging, and Others |
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Regional scope |
North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
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Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
Detailed Segmentation:
Global Medical Polymers Market, By Region:
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- North America
- North America Medical Polymers Market, By Product Type
- North America Medical Polymers Market, By Application
- North America Medical Polymers Market, By Country
- The U.S.
- Canada
- Europe
- Europe Medical Polymers Market, By Product Type
- Europe Medical Polymers Market, By Application
- Europe Medical Polymers Market, By Country
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
- Asia Pacific
- Asia Pacific Medical Polymers Market, By Product Type
- Asia Pacific Medical Polymers Market, By Application
- Asia Pacific Medical Polymers Market, By Country
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Latin America Medical Polymers Market, By Product Type
- Latin America Medical Polymers Market, By Application
- Latin America Medical Polymers Market, By Country
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Middle East & Africa Medical Polymers Market, By Product Type
- Middle East & Africa Medical Polymers Market, By Application
- Middle East & Africa Medical Polymers Market, By Country
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
- North America
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Global Medical Polymers Market By Key Players
Key players operating in the global medical polymer are BASF SE, Bayer AG, Kraton Performance Polymers Inc., Eastman Chemicals Company, SABIC Innovative Plastics US LLC, The Dow Chemical Company, Evonik Industries AG, Tianjin Plastics Research Institute Co. Ltd, Victrex Plc, and Lubrizol Corporation. Key players are continuously raising the market by adopting different strategies like collaboration, acquisition and releasing new technologies. For instance, Clariant Plastics and Coatings Healthcare Polymer Solutions has completed development and testing of new polymer materials specially formulated to resist degradation caused by exposure to high humidity and temperature.
Global Medical Polymers Market By Company Profile
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- BASF SE
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Bayer AG
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- BASF SE
- Kraton Performance Polymers Inc.
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- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Eastman Chemicals Company
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- SABIC Innovative Plastics US LLC
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- The Dow Chemical Company
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Evonik Industries AG
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Tianjin Plastics Research Institute Co. Ltd
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Victrex Plc
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Lubrizol Corporation
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
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Global Medical Polymers Market By Table of Contents
- Research Objective and Assumption
- Preface
- Research Objectives
- Study Scope
- Years Considered for the study
- Assumptions
- Abbreviations
- Research Methodology
- Research data
- Primary Data
- Primary Interviews
- Primary Breakdown
- Key data from Primary Sources
- Key Thickness Insights
- Secondary Data
- Major Secondary Sources
- Secondary Sources
- Market Estimation
- Top-Down Approach
- Approach for estimating Market Share by Top-Down Analysis (Supply Side)
- Bottom-Up Approach
- Approach for estimating market share by Bottom-up Analysis (Demand Side)
- Market Breakdown and Data Triangulation
- Research Assumptions
- Market Purview
- Executive Summary
- Key Findings—Global Outlook for Medical Polymer Strategies
- Key Questions this Study will Answer
- Market Snippet, By Product Type
- Market Snippet, By Application
- Market Snippet, By Region
- Opportunity Map Analysis
- Executive Summary—3 Big Predictions
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Market Trends
- DR Impact Analysis
- PEST Analysis
- Porter’s Five Forces Analysis
- Opportunity Orbit
- Market Investment Feasibility Index
- Macroeconomic Factor Analysis
- Market Dynamics
- Global Medical Polymers Market, By Product Type, 2020 – 2030, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
- Y-o-Y Growth Analysis (%), 2020 – 2030
- Segment Trends
- Fibers and Resins
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Medical Elastomers
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Biodegradable Medical Polymers
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- 2020 – 2030
- Overview
- Global Medical Polymers Market, By Application, 2020 – 2030, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
- Y-o-Y Growth Analysis (%), 2020 – 2030
- Segment Trends
- Medical Devices and Equipment
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Medical Packaging
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Others
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Overview
- Global Medical Polymers Market, By Region, 2020 – 2030, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
- Y-o-Y Growth Analysis (%), 2020 – 2030
- Regional Trends
- North America
- Market Size and Forecast (US$ Mn), By Product Type, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Application, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
- U.S.
- Canada
- Europe
- Market Size and Forecast (US$ Mn), By Product Type, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Application, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
- UK
- France
- Germany
- Russia
- Italy
- Rest of Europe
- Asia Pacific
- Market Size and Forecast (US$ Mn), By Product Type, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Application, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
- India
- Japan
- South Korea
- China
- Rest of Asia Pacific
- Latin America
- Market Size and Forecast (US$ Mn), By Product Type, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Application, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Market Size and Forecast (US$ Mn), By Product Type, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Application, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
- GCC
- Israel
- South Africa
- Rest of Middle East
- Overview
- Competitive Landscape
- Heat Map Analysis
- Market Presence and Specificity Analysis
- Company Profiles
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- BASF SE
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- Company Overview
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- BASF SE
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- Product Portfolio
- Key Highlights
- Financial Performance
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- Bayer AG
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- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
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- Kraton Performance Polymers Inc.
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- Company Overview
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- Kraton Performance Polymers Inc.
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- Product Portfolio
- Key Highlights
- Financial Performance
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- Eastman Chemicals Company
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- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
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- SABIC Innovative Plastics US LLC
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- Company Overview
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- SABIC Innovative Plastics US LLC
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- Product Portfolio
- Key Highlights
- Financial Performance
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- The Dow Chemical Company
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- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
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- Evonik Industries AG
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- Company Overview
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- Evonik Industries AG
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- Product Portfolio
- Key Highlights
- Financial Performance
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- Tianjin Plastics Research Institute Co. Ltd
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- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
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- Victrex Plc
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- Company Overview
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- Victrex Plc
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- Product Portfolio
- Key Highlights
- Financial Performance
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- Lubrizol Corporation
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- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
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The Last Word
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- Future Impact
- About Us
- Contact
FAQs
The global medical polymer market is segmented on the basis of product type, application and region.
Demand for certain packaging methods including blood bags, syringes, and others is the major factor driving growth of the global medical polymers market.
North America is accounted for largest market share in terms of revenue contribution and is expected to maintain its dominance over the forecast period.
Key players operating in the global medical polymer are BASF SE, Bayer AG, Kraton Performance Polymers Inc., Eastman Chemicals Company, SABIC Innovative Plastics US LLC, The Dow Chemical Company, Evonik Industries AG, Tianjin Plastics Research Institute Co. Ltd, Victrex Plc, and Lubrizol Corporation.