Medical Styrenic Block Copolymers (SBC) Market Size By Product (SBS, SIBS, SEBS), By Application (Tubing, Medical Bags, Equipment's, Packaging & Diagnostics Products, Wound Care), Industry Analysis Report, Regional Outlook, Application Development Potenti

Medical Styrenic Block Copolymers (SBC) Market Size By Product (SBS, SIBS, SEBS), By Application (Tubing, Medical Bags, Equipment's, Packaging & Diagnostics Products, Wound Care), Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2023 - 2032

The global medical styrenic block copolymers (SBC) market is expected to expand positively through 2032 owing to the rapid boost in the medical & healthcare industry.

The medical and healthcare industry in Asia Pacific has experienced impressive expansion recently. This is largely credited to the growing prevalence of chronic illnesses as well as lifestyle disorders, including diabetes, cholesterol, blood pressure, obesity, and heart disease, among others, as a result of changing consumer lifestyles, rapidly increasing work pressure, a shift to a physically inactive lifestyle, and inaccurate consumption habits. Rise in the intake of processed and ready-to-eat food as well as excessive alcohol, cigarette, and tobacco use by the general population is further anticipated to propel medical industry expansion in the region, influencing the market trends.

The medical styrenic block copolymers (SBC) market has been bifurcated in terms of product, application, and region.

Based on product, the styrene isoprene butadiene (SIBS) segment is slated to amass $60 million in valuation by 2032. Researchers are looking for innovative medical uses of SIBS such as use in artificial heart valves to replace tissue valves and in ocular implants to cure glaucoma. Such trends are foreseen to enhance the product demand, thus impelling the market valuation over the ensuing years.

With respect to application, the medical bags segment is poised to garner sizable market expansion over the review timeline. PVC-made medical bags are prone to contaminate IV fluids, which could then spread throughout a person's body and harm their health. As a result, thermoplastic elastomers such as styrenic block copolymers are being employed more frequently in place of PVC. Additionally, plasticizer-free thermoplastic elastomers like SBC hurt the environment. These factors are expected to foster the need for styrenic block copolymer-made medical bags.

Meanwhile, the others segment is set to witness strong growth through the forthcoming years driven by the increased focus on minimizing the use of PVC due to growing environmental concerns.

From the regional outlook, the Middle East & Africa medical styrenic block copolymers industry is projected to hold more than $25 million in revenue by 2032. The need for medical packaging products is rising as a result of the nation's escalating import of technologically advanced and creative medical devices and equipment. This can be credited to a significant rise in invasive procedures, clinics, and government investments in the healthcare system. Over the projection period, it is predicted that increased use of medical packaging in the region will hasten the rise of SBC, positively impacting the industry growth curve.