Global Medical Polymer Market is expected to reach ~USD 25 Bn by 2028F: Ken Research
Global Medical Polymer Market By Geography
The Global Medical Polymer market is segmented by geography into North America, Europe, Asia- pacific and LAMEA.
North America accounted for the largest market share within the global medical polymer market in 2022, 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.
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Competition Scenario In Global Medical Polymer Market
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.
What Is The Expected Future Outlook For The Overall Global Medical Polymer Market Across The Globe?
The Global Medical Polymer market was valued at USD ~billion in 2022 and is anticipated to reach USD ~25 billion by the end of 2028, witnessing a CAGR of ~% during the forecast period 2022-2028. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future.
The Global Medical Polymer market is driven by growing chronic diseases, rising number of patients worldwide, and surging healthcare infrastructure by government active participation and investments. However, the market is also constantly being influenced by rapid development in technology, product innovation, and diversification in some countries.
With the increasing collaboration and emergence of new products, the Global Medical Polymer market is changing rapidly. For instance, 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.
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.
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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
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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
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