Medical Polyoxymethylene (POM) Market Size, Share & Trends Analysis Report By Type (Homopolymer POM, Copolymer POM), By Application (Dialysis Machine, Inhalers), By Region, And Segment Forecasts, 2023 - 2030

Medical Polyoxymethylene (POM) Market Size, Share & Trends Analysis Report By Type (Homopolymer POM, Copolymer POM), By Application (Dialysis Machine, Inhalers), By Region, And Segment Forecasts, 2023 - 2030

Medical Polyoxymethylene Market Growth & Trends

The global medical polyoxymethylene market is expected to reach USD 182.92 million by 2030, expanding at 6.50% CAGR from 2023 to 2030, according to a new study by Grand View Research, Inc. The market is predicted to expand significantly in the coming years as demand for medical devices and equipment rises. Polyoxymethylene (POM) is a material that is extensively used in the manufacture of several medical devices such as catheters, surgical instruments, implants, and drug delivery systems.

The growing elderly population and the rise in chronic diseases are also driving market expansion, increasing demand for medical devices and equipment. Furthermore, rising awareness of the benefits of employing POM in medicinal applications, as well as technological advancements, are propelling the market forward.

Several drug delivery device manufacturers are focusing on creating sophisticated products by utilizing high-performance materials with improved physical and mechanical properties, along with advanced functionality and improved aesthetics. It aligns with the key goals of manufacturers like the cost effectiveness and complex requirements of the device. Thus, manufacturers are developing the usage of polyoxymethylene (POM) in medication delivery systems to meet the increasing demand.

The expansion of the medical sector in developing nations such as China, South Korea, and India provides a lucrative potential for the growth of the Asia Pacific medical polyoxymethylene industry. Due to their well-established healthcare infrastructure and rising acceptance of new medical technologies, North America and Europe are also projected to witness significant development. Another element boosting the industry in the region is the easy accessibility and availability of raw materials, combined with cost-effective labor and low production costs.

Medical Polyoxymethylene Market Report Highlights

• Asia Pacific dominated the overall medical polyoxymethylene industry owing to the presence of a strong medical industry base along with the rise in diabetic patients and changes in lifestyle
• Copolymer polyoxymethylene was the largest type segment in 2022 and is also anticipated to dominate the market over the forecast period
• Insulin pen dominated the application segment in the market accounting for over 34.0% in terms of revenue. Insulin pens are getting more prevalent globally due to their ease of use and affordability
• In January 2023, Polyplastics Company Ltd. announced a new acetal material at Pharmapack and MD&M West. The business will utilize its newly developed product DURACON POM (polyoxymethylene or polyacetal) PM series for delivery applications and medication contact

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