Medical Polymers Market Size, Share and Industry Analysis Report By Product (Medical Fibers & Resins [PVC, PP, PE, Polystyrene], Medical Elastomers [SBC, Rubber Latex], Biodegradable Medical Plastics) and Application (Medical Devices & Equipment, Medical

Medical Polymers Market Size, Share and Industry Analysis Report By Product (Medical Fibers & Resins [PVC, PP, PE, Polystyrene], Medical Elastomers [SBC, Rubber Latex], Biodegradable Medical Plastics) and Application (Medical Devices & Equipment, Medical Packaging), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Price Trend, Competitive Market Share & Forecast, 2023 - 2032

Global Medical Polymer Market will witness robust growth through 2032, primarily owing to the changing trends toward home care treatment. Besides, an increase in geriatric population is resulting in an upsurge in medical treatment which will also fuel the market progression between 2023 and 2032.

The key competitors in the industry are working towards strengthening their foothold in the medical polymer market by entering into joint ventures, acquisitions, and expanding their portfolios. For instance, in December 2022, Oechsler, a global polymer technology group announced expanding its production capabilities for medical products. The firm added that it will also be adding its cleanroom capacity by 50% at its Ansbach headquarter along with Romania and Mexico sites.

To cite another instance, Trelleborg acquired EirMed LLC in April 2022 to cater to the medical and healthcare industry in the U.S. In October 2022, the firm also revealed that it has finalized the acquisition of Minnesota Rubber & Plastics. The latest acquisition would enable Trelleborg to expand its capability and material portfolio.

Overall, the medical polymer market has been bifurcated in terms of product, application, and region.

On the basis of product, the market is likely to be characterized by the medical elastomers segment, which will grow at over 8% CAGR through 2023-2032. Medical elastomers have a high level of purity, are highly cost-effective, and are recyclable as well, which will drive the demand for this segment.

Based on application, the medical devices and equipment segment will grow at a considerable rate over the next ten years. There is a range of polymers such as TVC, rubber latex, and SBC, that are used as tubing, thermostat rubber, bags, and adhesive gloves in the medical industry. The increasing demand for the application of such products will drive the segment’s growth.

In the regional context, the medical polymer market in the Asia Pacific region will witness substantial growth by 2032. This growth will be accredited to the expanding population and increasing healthcare spending in the APAC economies. Besides, an increasing demand for medical polymers has been noticed in the region, and to cater to this demand firms are increasing their product range as well.

For instance, in December 2020, Avient Corporation, an imminent specializer of sustainable material services and solutions announced equipping its facility in Singapore with a new production line to meet the growing demand for specialty pre-colored Mevopur™ polymers in the region.