all report title image

Medical polymers are polymers used in the manufacturing of medical products such as medical devices, implants, disposables (gloves and vials), and packaging. These polymers are biocompatible in nature. Engineering plastics, silicone, standard plastics, and HPP are some of the medical polymers used in the manufacturing of medical devices.

The global Medical Polymers market is projected to surpass US$ 32,540.7 million by the end of 2028, in terms of revenue, growing at CAGR of 8.3% during the forecast period (2021 to 2028).

Drivers

Growing demand for home treatment is creating demand for medical disposables. This factor is augmenting the market growth of medical polymers. Surgical gloves, syringes, catheters, and medical fabrics are some of the medical disposables. These disposables are easy to use and user friendly. Thus the rise in demand for home treatment is creating a huge demand for disposable and user friendly products.

The rise in the geriatric population is augmenting healthcare needs, thereby fueling the market growth of the medical polymers. Rising aging population is increasing the prevalence of chronic disease which is escalating the demand for medical products. According to the United Nations, the global population aged 60 years or over numbered 962 million in 2017. The number is projected to reach nearly 2.1 billion by 2050.

North America held dominant position in the Global Medical Polymers Market in 2020, accounting for 43.0% share in terms of volume, followed by Europe and Asia Pacific, respectively. As a result of Growing demand for home treatment for medical disposables around the globe.

Figure 1. Global Medical Polymers Market, Revenue Share (%), By Region, 2020

Medical Polymer  | Coherent Market Insights

Market Restraints

Strict rules and regulations associated with the use of polymers in the healthcare industry are expected to hinder the market growth. For example, the U.S. Food and Drug Administration (FDA) take active measures to control the quality of raw materials used in medical impants and devices.

An environmental concern associated with the disposal of medical polymers as these products do not get degrade and recycle easily and can cause harm to both terrestrial as well as aquatic species. This factor is inhibiting the market growth.

Market Opportunities

The growing use of biodegradable materials in the development of medical implants is expected to provide lucrative market opportunities in the near future. This is attributed to the growing environmental concerns coupled with the strict government policies for the polymers used in the medical industry. Medical implants based biodegradable materials are also low cost and effective alternative of the traditionally used materials in medical implants.

The growing importance of medical elastomers such as styrene block copolymer and rubber latex across the healthcare industry is projected to offer potential opportunities. Also, increasing use of fibers and resins in hip and joint replacements and spinal implants due to their enhanced biocompatibility and lower cost as compared to conventional materials is further projected to foster market growth. 

Figure 2. Global Medical Polymers Market – Opportunity Analysis

Medical Polymer  | Coherent Market Insights

Market Trends

  • Continuous product innovation by key players is a major trend in the market. For instance, in February 2020, Clariant Plastics & Coatings Healthcare Polymer Solutions has announced the development and testing of new polymer materials. The new compounds, marketed under the MEVOPUR brand name covering Clariant’s ‘medical grade’ materials. These products are especially useful in applications like medical catheters.
  • Growing government initiatives towards healthcare sector is one of the industry trend at present. This is attributed to the growing health and wellness trend among consumers. Moreover, increasing use of polymers in place of ceramics, metals, and glasses in the manufacturing of medical devices is another major trend in the market. All these factors are propelling the market growth of the medical polymers.
CMI table icon

Medical Polymers Market Report Coverage

Report Coverage Details
Base Year: 2020 Market Size in 2020: US$ 17,131.7 Mn
Historical Data for: 2017 to 2020 Forecast Period: 2021 to 2028
Forecast Period 2021 to 2028 CAGR: 8.3% 2028 Value Projection: US$ 32,540.7 Mn
Geographies covered:
  • North America
  • Europe
  • Asia Pacific
  • Rest of World
Segments covered:
  • By Product: Fibers and resin (PVC, PP, PE, PS, Others (engineering thermoplastics such as nylon, PET, PA, PC, ABS)), Medical Elastomers (Styrenic Block Copolymer, Rubber latex (NR + Butyl Rubber + Silicone rubber), Others (TPU, TPO, TPV)), and Biodegradable plastics
  • By Applications: Medical devices and equipment’s, Medical packaging, and Others (cardio, tissue culture)
Companies covered:

BASF SE, Bayer MaterialScience AG, Celanese Corporation, DSM N.V., E. I. du Pont de Nemours Company, Eastman Chemical Company, ExxonMobil Corporation, Evonik Industries AG, and The Dow Chemical Company

Growth Drivers:
  • Increasing prevalence of chronic disease
  • Ageing population
Restraints & Challenges:
  • Strict environmental regulations

Figure 3. Global Medical Polymers Market, Revenue Share (%), By Applications, in 2020

Medical Polymer  | Coherent Market Insights

Key Takeaways of the Graph:

  • The Medical devices and equipment’s held dominant position in the market and accounted for 50.1% share in the Global Medical Polymers Market in 2020. The segment is expected to reach US$ 15,834.2 million in 2028.
  • High demand for medical devices is primarily fuelling market growth of the medical polymers. Medical polymers are biocompatible in nature. Polyether ether ketone is the most commonly used polymers in the healthcare industry for various applications such as structural heart, infection control, neuro-devices, and robotic assistance. Hence, growing demand for medical devices is propelling the market growth of medical polymers.

Global Medical Polymers Market - Impact of Coronavirus (Covid-19) Pandemic

The Covid-19 pandemic has had a positive impact on the Global Medical Polymers Market, The increased demand for critical care systems such as ventilators, thermal scanners, and respirators from original equipment manufacturer (OEM) and medical device/equipment producers is one of the key drivers for the medical plastics business. The demand for medical devices, equipment, and products has increased, which indicates well for the Medical Polymers Market forecast from 2021 to 2028.

Competitive Section

Key players are operating in the Global Medical Polymers Market are BASF SE, Bayer MaterialScience AG, Celanese Corporation, DSM N.V., E. I. du Pont de Nemours Company, Eastman Chemical Company, ExxonMobil Corporation, Evonik Industries AG, and The Dow Chemical Company

Few Recent Developments

  • In June 2019, SIBUR and BASF have collaborated to develop innovative polymer solutions at SIBUR’s PolyLab Research and Development Center in Moscow.
  • In April 2021, Celanese Corporation, a global chemical and specialty materials company, is prioritizing its operations to provide specialty materials used in applications such as ventilators, respirators, and other critical medical equipment and supplies in response to the COVID-19 pandemic in support of the healthcare and medical devices industry.
  • In March 2021, BASF is planned a US $29.56 million investment in its superabsorbent polymer business.

Medical polymers is the term used for the building blocks of most medical devices today. These polymers include a large range of functional components such as elastomeric fibers, polyethylene glycol, plastics, rubber micro particles, polyethylene Teflon, rubber powder, resins, thermoform, silicone, nylon, cement, and rubber composites. Medical polymers are generally classified into synthetic resins, synthetic fibers, and elastomeric fibers. Medical polymers can be used as fillers and additives in a variety of medical plastics, packaging, and devices. They are also used in the manufacturing of surgical gloves and other medical accessories. Some of the most common Medical Polymers include neoprene, polystyrene, polyurethane, polyisocyanurate, polycarbonate, acrylate, polyethylene terephthalate (PET), and polycarbonate plastic.

Market Dynamics

The growing prevalence of chronic disease and increasing investment in healthcare are driving growth of the medical polymer market. Increasing use of advanced medical technologies such as 3D printed implants and customized devices are again fostering growth of the market. Moreover, continuous launch of the innovative product by key players is will further favor the growth of the market. For instance, in February 2020, Clariant announced the launch of a medical polymer compound resistant to hydrolytic degradation caused by exposure to high humidity and temperature.

On the other hand, strict rules & regulation regarding usage of polymer is hampering growth of the market.

Key features of the study:

  • This report provides in-depth analysis of the medical polymers market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2021–2028), considering 2020 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global medical polymers market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
  • Key companies covered as a part of this study include BASF SE, Bayer MaterialScience AG, Celanese Corporation, DSM N.V., E. I. du Pont de Nemours Company, Eastman Chemical Company, ExxonMobil Corporation, Evonik Industries AG, and The Dow Chemical Company
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
  • The global medical polymers market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global medical polymers market

Detailed Segmentation:

  • Global Medical polymers  Market, By Product Type:
    • Fibers and resin
      • PVC
      • PP
      • PE
      • PS
      • Others (engineering thermoplastics such as nylon, PET, PA,PC, ABS)
    • Medical Elastomers
      • Styrenic Block Copolymer
      • Rubber latex (NR + Butyl Rubber + Silicone rubber)
      • Others (TPU,TPO,TPV)
    • Biodegradable plastic
  • Global Medical polymers Market, By Applications
    • Medical devices and equipment’s
    • Medical packaging
    • Others (cardio, tissue culture)
  • Global Medical polymers  Market, By Region:
    • North America
      • By Product Type:
        • Fibers and resin
          • PVC
          • PP
          • PE
          • PS
          • Others (engineering thermoplastics such as nylon, PET, PA,PC, ABS)
        • Medical Elastomers
          • Styrenic Block Copolymer
          • Rubber latex (NR + Butyl Rubber + Silicone rubber)
          • Others (TPU,TPO,TPV)
        • Biodegradable plastic
      • By Applications:
        • Medical devices and equipment’s
        • Medical packaging
        • Others (cardio, tissue culture)
    • Latin America
      • By Product Type:
        • Fibers and resin
          • PVC
          • PP
          • PE
          • PS
          • Others (engineering thermoplastics such as nylon, PET, PA,PC, ABS)
        • Medical Elastomers
          • Styrenic Block Copolymer
          • Rubber latex (NR + Butyl Rubber + Silicone rubber)
          • Others (TPU,TPO,TPV)
        • Biodegradable plastic
      • By Applications:
        • Medical devices and equipment’s
        • Medical packaging
        • Others (cardio, tissue culture)
    • Europe
      • By Product Type:
        • Fibers and resin
          • PVC
          • PP
          • PE
          • PS
          • Others (engineering thermoplastics such as nylon, PET, PA,PC, ABS)
        • Medical Elastomers
          • Styrenic Block Copolymer
          • Rubber latex (NR + Butyl Rubber + Silicone rubber)
          • Others (TPU,TPO,TPV)
        • Biodegradable plastic
      • By Applications:
        • Medical devices and equipment’s
        • Medical packaging
        • Others (cardio, tissue culture)
    • Asia-Pacific
      • By Product Type:
        • Fibers and resin
          • PVC
          • PP
          • PE
          • PS
          • Others (engineering thermoplastics such as nylon, PET, PA,PC, ABS)
        • Medical Elastomers
          • Styrenic Block Copolymer
          • Rubber latex (NR + Butyl Rubber + Silicone rubber)
          • Others (TPU,TPO,TPV)
        • Biodegradable plastic
      • By Applications:
        • Medical devices and equipment’s
        • Medical packaging
        • Others (cardio, tissue culture)
    • Middle East & Africa
      • By Product Type:
        • Fibers and resin
          • PVC
          • PP
          • PE
          • PS
          • Others (engineering thermoplastics such as nylon, PET, PA,PC, ABS)
        • Medical Elastomers
          • Styrenic Block Copolymer
          • Rubber latex (NR + Butyl Rubber + Silicone rubber)
          • Others (TPU,TPO,TPV)
        • Biodegradable plastic
      • By Applications:
        • Medical devices and equipment’s
        • Medical packaging
        • Others (cardio, tissue culture)
  • Company Profiles
    • BASF SE*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
  • Bayer MaterialScience AG
  • Celanese Corporation
  • DSM N.V.
  • I. du Pont de Nemours Company
  • Eastman Chemical Company
  • ExxonMobil Corporation
  • Evonik Industries AG
  • The Dow Chemical Company

 “*” marked represents similar segmentation in other categories in the respective.

Frequently Asked Questions

The market for Global Medical Polymers Market is forecast to surpass US$ 32,540.7 million by 2028 witnessing a CAGR of 8.3% between 2021 and 2028.
Increasing ageing population is creating demand for healthcare need this in turn propelling growth of the market.
The Applications segment is the leading component segment in the market
Strict environmental regulation regarding the usage of medical polymers is expected to hinder growth of the market.
Major players operating in the market include, BASF SE, Bayer MaterialScience AG, Celanese Corporation, DSM N.V., E. I. du Pont de Nemours Company, Eastman Chemical Company, ExxonMobil Corporation, Evonik Industries AG, and The Dow Chemical Company
North America region is expected to hold dominant position in the market over the forecast period. The growth of the market in the region is driven by growing demand for home treatment for medical disposables around the globe.

Related Reports

EXISTING CLIENTELE

Joining thousands of companies around the world committed to making the Excellent Business Solutions.

View All Our Clients
trusted clients logo