Industry Forecast

Medical Polymers Market by Application, Product Growth over 2016-2024

Press Release   •   Aug 21, 2017 08:43 EDT

The global Medical Polymers Market share report provides numbers for applications and regional segments of the industry covering historical as well as forecast data for decision makers.

Global Medical Polymers Market is witnessing a strong momentum in healthcare sector with the increasing demand for upgraded pharmaceutical devices across the patient base. Growing prevalence of cardiac diseases, especially across geriatric population along with rising deployment of technologically progressed medical treatments is spurring the market demand.

As mentioned above, Global pharmaceutical device market which leaves a linear influence on medical polymers demand is expected to magnify at a speedy rate of 6% in the years ahead. U.S held 45% share of the global pharmaceutical device market in 2015 and is anticipated to be one of the most lucrative zones partaking in medical polymers industry growth. As per a report by Global Market Insights Inc., “Medical polymers market is poised to exceed a revenue of 24 billion by 2024, at an annual growth projection of 9% over the period of 2016-2024.”

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Reasons to Buy This Report:

1. Medical Polymers Market size & share forecast by product & application 2016-2024

2. Growth drivers, pitfalls & industry challenges

3. Key Medical Polymers Market growth opportunities & emerging business models

4. Competitive benchmarking with market share analysis and company profiles

The differentiating factor of Medical Polymers Market report by Global Market Insights, Inc. when compared with other, similar syndicated research studies includes a 360-degree synopsis of trends for a period of more than 10 years including historic information as well as future outlook.

Biodegradable medical plastics, medical fibers &resins, and medical elastomers are the three categories of product prevalent in the industry. Biodegradable plastics medical polymer market will observe a tremendous growth rate of 15% over the forecast span.

Asia Pacific medical polymers market is poised to show an exponential growth chart with rapidly increasing healthcare infrastructure in China, Bangladesh, India, Pakistan, and Indonesia. The region is anticipated to grow at a rate of 10% over the period of 2016-2024, owing to rising population base and unmet medical needs in these developing countries.

Europe medical polymers industry is set to record a CAGR of 7% over the period of 2016-2024.

Medical polymers market finds a wide array of application in medical packaging and medical devices equipment sectors. Each of these applications will see an immense growth with respect to size and volume due to the fact that people are rapidly adopting the advanced medical treatments. Medical devices & equipment market is set to register a CAGR of 8% over the period of 2016-2024, having had more than 50% of the overall market share in 2015.

Growing government concerns over degradation of polymers have steered the product demand for bio-based and biodegradable polymers for packaging of the medical products. This fact is likely to show a substantial growth track to the global medical polymers market from medical packaging application to register an annual growth rate of 9% over the period of 2016-2024.

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North America, driven by the U.S., will have a significant share of the global medical polymers market owing to its mature medical and pharmaceutical industry. Growing medical expenditure in the region and high awareness regarding health and fitness will boost the demand in the next few years. North America registered more than USD 4.5 billion in 2015 and will grow at a notable rate throughout the forecast period. Europe medical polymers market will witness a slow growth at less than 7% CAGR up to 2024 and will lose its share to Asia Pacific, Latin America, and Middle East & Africa, which will witness a high growth in the coming years.

Rapidly increasing healthcare initiatives in countries such as China, India, Bangladesh, Indonesia, and Pakistan will encourage growth in Asia Pacific. Increasing population coupled with unavailability of proper pharmaceutical facilities in the region will boost the growth at over 10% CAGR in the forecast period.

Global medical polymers market is fragmented with presence of several large and medium level companies. Key market participants include Bayer AG, Evonik Industries, Celanese, DuPont, Dow Chemical, Eastman Chemical, and Huntsman. Bayer and DuPont provide application specific customizations to augment their market share. The companies rely on various strategies including high R&D investments, merger & acquisitions, collaborations, and significant integrations in the value chain.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.