Global Medical Polymer Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 by Product (Fibers & Resins, Medical Elastomers, and Biodegradable Polymers), Processing Method (Blow Fill Seal, Injection Stretch Blow Molding, and Extrusion Blow Moldi

Global Medical Polymer Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 by Product (Fibers & Resins, Medical Elastomers, and Biodegradable Polymers), Processing Method (Blow Fill Seal, Injection Stretch Blow Molding, and Extrusion Blow Molding), Application (Medical Device Packaging, Medical Components, Wound Care, Orthopedic Soft Goods, and Implants), and Region (North America, Europe, Asia Pacific, and Latin America Middle East, and Africa)

Market Overview:

Medical polymer is a material arranged into elastomers, filaments, and saps. Medical grade polymers are an essential part of the new-gen medical and healthcare system. These materials are specifically engineered and manufactured for medical use under global regulatory requirements. Medical-grade polymers are used in manufacturing medical devices, medical packaging, medical wear, cleanroom supplies, mobility aids, implants, wound care, denture-based materials, and others.

According to Ken Research estimates, the Global Medical Polymer Market – which grew from approximately US$ 10 Billion in 2017 to approximately US$ 15 billion in 2022 – is forecasted to grow further into approximately US$ 25 Billion opportunities by 2028, owing to the growing chronic diseases, rising number of patients worldwide, and surging healthcare infrastructure by government active participation and investments.

The medical polymer market is driven by surging chronic diseases such as cancer, diabetes, stroke, and other infectious viruses. According to World Health Organization, stated that nearly 10 million deaths in 2020 are caused by cancer worldwide, the most common cases of cancer were lung, prostate, skin, stomach, colon, and rectum. Globally, more than two third of all death are occurred due to one or more of these five chronic diseases including heart disease, cancer, stroke, diabetes, and chronic obstructive pulmonary diseases. The increasing number of cases due to chronic diseases worldwide, enforcing governments and players to upgrade technology via medical devices or surgeries to cure the disease, which is likely to benefit the medical polymer market.

Government strict rules and restrictions on the usage of polymer material in the healthcare and medical industry, are restraining the growth of the medical polymer market. For instance, the USA Food and Drugs Administration (FDA), stated that numerous types of materials, including metals, polymers, and ceramics, are commonly used in medical devices. FDA is taking active measures to control the quality of raw materials used in medical devices.

COVID-19 has helped in the growth of the medical polymer market. Since the start of the pandemic, the requirement for medicines and other medical products has been rising, it requires special packaging, which helped the medical polymer market to accelerate. As the pandemic is slowing down, it is estimated that the medical polymer market remains significant in the forecasted period, owing to the growing medical conditions and surgeries worldwide.

Scope of the Report:

The medical polymer market is segmented by product, processing method, and application. In addition, the report also covers market size and forecasts for the four regions in the medical polymer markets. The revenue used to size and forecast the market for each segment is US$ billion.

By Product

Fibers & Resins
Medical Elastomers
Biodegradable Polymers
Others

By Processing Method

Blow Fill Seal
Injection Stretch Blow Molding
Extrusion Blow Molding
Others

By Application

Medical Device Packaging
Medical Components
Wound Care
Orthopedic Soft Goods
Implants
Others

By Geography

North America (USA, Canada, Mexico)
Europe (Germany, UK, France, Spain, Italy)
Asia Pacific (China, Japan, South Korea, India, Australia)
LAMEA (Latin America, Middle East, Africa)

Key Players

BASF SE
Evonik Industries AG
Covestro AG
Kraton Corporation
Eastman Chemical Company
SABIC
Celanese Corporation
DSM
Arkema
INEOS

Key Trends

by Market Segment:

By Product:
Fibers & resins segment held the largest market share of the global medical polymer market in 2021, owing to its extensive usage in various applications.
Fibers & resins include multiple sub-segments including polypropylene, polyethylene, polystyrene, and others. Polycarbonate polymer provides high chemical and electrical resistance, which assists them to replace metal and glass in medical products.
Increased usage of resins in numerous medical applications such as spinal implants, cranial injuries, hip, and joint replacements, and others.

By Processing Method:
The extrusion blow molding segment accounted for the largest market share in 2021, owing to the easier and cost-effective process.
Extrusion blow molding is used to create medium to large hollow parts with complex geometries or highly technical equipment such as DEF tanks, HVAC ducts, lawn mower seats, and others.

By Application:
The medical component application segment held the largest market in 2021, owing to an increased usage of polymers in medical equipment and devices.
Polymer and polymer matrix composite helped the healthcare and medical industry to provide quality services, with multiple benefits such as enhanced safety, maintaining sterility, and others.
Suring in the usage of polymer in surgical instruments, diagnostics equipment, medical tubing, molded components, and others.

By Geography:
North America accounted for the largest market share within the global medical polymer market in 2021, owing to the rising geriatric population, and surging government initiatives and programs towards the medical sector.

The rising geriatric population and surging chronic diseases in the region, are likely to fuel the demand in the medical polymer market.
Increasing government initiatives and investment in the medical and healthcare sector, along with the growing home healthcare market are expected to boost the demand for medical devices. Increased demand for medical equipment and devices, is likely to positively impact the medical polymer market.

Competitive Landscape:

The global medical polymer market is significantly competitive with ~100 players which include globally diversified players, and country-niche players as well as a majority number of regional players having their niche in medical polymer manufacturing multiple products for various medical applications.
Regional players held the largest share by competitor type. While large global players constitute about 15%. Some of the major players in the market include BASF SE, Evonik Industries AG, Covestro AG, Kraton Corporation, Eastman Chemical Company, SABIC, Celanese Corporation, DSM, Arkema, INEOS, and others.

Recent Developments Related to Major Players

In July 2021, Celanese Corporation announced an expansion of its Florence, Kentucky research and development center with the addition of a Pharmaceutical Drug Delivery Feasibility Lab.
In February 2020, Clariant launches a medical polymer compound resistant to hydrolytic degradation.
In April 2018, BASF has started up a new production line for its high-temperature resistant thermoplastic Ultrason (Polyarylsulfone) at its site in Yesou, Korea.

Conclusion

The global medical polymer market witnessed significant growth during the period 2017-2021, owing to the increasing number of chronic diseases, and growing geriatric populations worldwide. The growth rate is expected to remain significant during the forecast period.
Though the market is significantly competitive with ~100 participants, the majority of regional players dominate the market share by type, and global players hold a significant market share.

Note:

This is an On-Demand/Planned report, so the figures quoted here for a market size estimate, forecast, growth, segment share, and competitive landscape are based on initial findings and might vary slightly in the actual report. Also, any required customizations can be covered to the best feasible extent for Pre-booking clients, and the report delivered within a maximum of two working weeks

Key Topics Covered in the Report

Snapshot of the Global Medical Polymer Market
Industry Value Chain and Ecosystem Analysis
Market size and Segmentation of the Global Medical Polymer Market
Historic Growth of the Overall Global Medical Polymer Market and Segments
Competition Scenario of the Market and Key Developments of Competitors
Porter’s 5 Forces Analysis of the Global Medical Polymer Industry
Overview, Product Offerings, and Strengths & Weaknesses of Key Competitors
COVID-19 Impact on the Overall Global Medical Polymer Market
Future Market Forecast and Growth Rates of the Total Global Medical Polymer Market and by Segments
Market Size of Type / End-Users Segments with Historical CAGR and Future Forecasts
Analysis of the Global Medical Polymer Market
Major Production/Supply and Consumption/Demand Hubs in Each Major Region
Major Continent-wise Historic and Future Market Growth Rates of the Total Market and Segments
Overview of Notable Emerging Competitor Companies within Each Major Continent

Major Players Mentioned in the Report

BASF SE
Evonik Industries AG
Covestro AG
Kraton Corporation
Eastman Chemical Company
SABIC
Celanese Corporation
DSM
Arkema
INEOS

Notable Emerging Companies Mentioned in the Report

Cocoon Biotech
ADBioplastics
BioMed Element
XAMPLA
Cypris Materials

Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report

Medical Polymer Manufacturing Companies
Medical Polymer Marketing Companies
Medical Polymer Material Suppliers
Potential Investors in Medical Polymer Companies
Bio Polymer Manufacturers
Medical Packaging and Component Manufacturers
Consulting Companies in the Chemical and Healthcare Market
Government And Research Organizations Working in the Chemical and Healthcare Industries
Investment Banks Targeting the Chemical and Healthcare Industry
Medical Machine and Equipment Manufacturers
Medical Plastics Manufacturers
Laboratory Equipment Manufacturers
Healthcare Products Manufacturers
Medical Device Packaging Manufacturers
Plastics Chemical Manufacturers
Organic Polymers Manufacturers
Medical Implant Packaging Manufacturers
Medical Soft Goods Manufacturers
Biopharma Devices Manufacturers
Government Healthcare Departments

Time Period Captured in the Report

Historical Period: 2017-2021
Forecast Period: 2022-2028F

Frequently Asked Questions

What is the Study Period of this Market Report?

The Global Medical Polymer Market is covered from 2017–2028 in this report, including a forecast for 2022-2028.

What is the Future Growth Rate of the Global Medical Polymer Market?

The Global Medical Polymer Market is expected to witness a CAGR of ~9% over the next six years.

What are the Key Factors Driving the Global Medical Polymer Market?

Surging healthcare and medical infrastructure development and the growing diseases and infectious viruses worldwide is likely to fuel the growth in the medical polymer market.

Which is the Largest Product Segment within the Global Medical Polymer Market?

The fibers & resins product segment held the largest share of the global medical polymer market in 2021.

Who are the Key Players in the Global Medical Polymer Market?

BASF SE, Evonik Industries AG, Covestro AG, Kraton Corporation, Eastman Chemical Company, SABIC, Celanese Corporation, DSM, Arkema, INEOS.

Key Topics Covered in the Report

Snapshot of the Global Medical Polymer Market
Industry Value Chain and Ecosystem Analysis
Market size and Segmentation of the Global Medical Polymer Market
Historic Growth of the Overall Global Medical Polymer Market and Segments
Competition Scenario of the Market and Key Developments of Competitors
Porter’s 5 Forces Analysis of the Global Medical Polymer Industry
Overview, Product Offerings, and Strengths & Weaknesses of Key Competitors
COVID-19 Impact on the Overall Global Medical Polymer Market
Future Market Forecast and Growth Rates of the Total Global Medical Polymer Market and by Segments
Market Size of Type / End-Users Segments with Historical CAGR and Future Forecasts
Analysis of the Global Medical Polymer Market
Major Production/Supply and Consumption/Demand Hubs in Each Major Region
Major Continent-wise Historic and Future Market Growth Rates of the Total Market and Segments
Overview of Notable Emerging Competitor Companies within Each Major Continent

Please Note: It will take 5-7 business days to complete the report upon order confirmation.