Advent of 3D Printed Devices and Development of Patient-Specific Implants to Proliferate Medical Polymer Industry | UnivDatos Market Insights
NOIDA, India, Sept. 21, 2022 /PRNewswire/ -- According to a new report published by UnivDatos Markets Insights, the Medical Polymer Market was valued around USD 16 billion in 2020 and is expected to grow at a CAGR of over 8% during 2021-2027. The analysis has been segmented into Type (Commodity Polymer, Engineering Polymer, and High-Performance Polymer); Structure (Amorphous and Crystalline); Application (Medical Disposables, Prosthetics, Medical Instruments & Tools, Drug Delivery, and Others); Region/Country.
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The Medical Polymer market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Medical Polymer market. The Medical Polymer market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the Medical Polymer market at the global and regional levels.
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The demand for the medical polymer is increasing on account of the rising demand for advanced medical technology in implants, growing demand for artificial organs, smart inhalers, precision medicines, rising preference for the minimally invasive devices or surgical procedures and rise in the need for robotic assistance in surgical procedures. In the recent few years, the number of injuries due to accidents is also increasing which high demands the use of prosthetics products, further boosting the growth of the medical polymer market. As per the WHO 2021, around 1.3 million people die each year due to road traffic crashes and around 20 to 50 million more people suffer non-fatal injuries, with many experiencing a disability due to their injury. These medical plastics are highly used in prosthetics, providing a life-changing solution for physically disabled people. Further, rising investment in the healthcare sector in developing economies in order to improve the healthcare infrastructure and the rising geriatric population which are looking for safe and advanced procedures is likely to propel the market of medical polymer.
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The global Medical Polymer market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
- Based on type, the market is categorized into commodity polymer, engineering polymer, and high-performance polymer. Among these, the high-performance polymer is likely to showcase robust growth owing to the increasing adoption of these polymers in prosthetics, medical devices, and drug delivery devices applications due to their resilience against a majority of body substances and are highly heat resistant and inert, thereby which makes them ideal for medical devices that come into direct contact with blood and tissue.
- Based on structure, the market is categorized into amorphous and crystalline. Of both, crystalline is like to showcase a substantial share during the forecast period. This can be attributed to the presence of several high-performance polymers in this segment which are getting widespread acceptance in the healthcare industry for medical device and prosthetics applications like PEEK and PTFE.
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Medical Polymer Market Geographical Segmentation Includes:
- North America (United States, Canada, and Rest of North America)
- Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)
- Asia-Pacific (China, Japan, India, Australia, and the Rest of Asia-Pacific)
- Rest of the World
North America accounted for a prominent share in the medical polymer market on account of the presence of a highly diversified medical devices market and it offers a wide range of products for the diagnosis and treatment of patients, ranging from medical catheters to implants and vascular grafts. Moreover, the high investment in R&D and the development of high-quality products using advanced technology are also expected to propel market growth. The innovations, for example, stent technologies, biomarkers, neuro-stimulators, robotic assistance, and implantable electronic devices in the medical device, further drive the market growth. In November 2019, Cardiology devices developer Baylis Medical has launched one of the smallest 2-French (2F) EPstar fixed electrophysiology catheters in the North American market to reach different areas of the heart to perform procedure mapping.
The major players targeting the market include
- BASF SE
- Celanese Corporation
- Evonik Industries AG
- Solvay S.A.
- Arkema S.A.
- The Lubrizol Corporation
- The Ensinger Group
- Covestro AG
- Victrex plc.
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Medical Polymer Market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
- What are the latest trends, new patterns, and technological advancements in the Medical Polymer market?
- Which factors are influencing the Medical Polymer market over the forecast period?
- What are the global challenges, threats, and risks in the Medical Polymer market?
- Which factors are propelling and restraining the Medical Polymer market?
- What are the demanding global regions of the Medical Polymer market?
- What will be the global market size in the upcoming years?
- What are the crucial market acquisition strategies and policies applied by global companies?
We understand the requirement of different businesses, regions, and countries, we offer customized reports as per your requirements of business nature and geography. Please let us know If you have any custom needs.
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Medical Polymer Market Report Coverage
Accelerate at a CAGR of over 8%
Market size 2020
USD 16 billion
North America, Europe, APAC, Rest of World
Major contributing region
North America to Dominate the Medical Polymer Market
Key countries covered
United States, Canada, Germany, United Kingdom, Spain, Italy, France, China, Japan, India, and Australia
SABIC, BASF SE, Celanese Corporation, Evonik Industries AG, Solvay S.A., Arkema S.A., The Lubrizol Corporation, The Ensinger Group, Covestro AG, and Victrex plc
Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Legal & Regulatory Framework; Demand and Supply Side Analysis; Competitive Landscape; Company Profiling
By Type; By Structure; By Application; By Region/Country
UnivDatos Market Insights (UMI) is a passionate market research firm and a subsidiary of Universal Data Solutions. We believe in delivering insights through Market Intelligence Reports, Customized Business Research, and Primary Research. Our research studies are spread across topics across the world, we cover markets in over 100 countries using smart research techniques and agile methodologies. We offer in-depth studies, detailed analysis, and customized reports that help shape winning business strategies for our clients.
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