Medical polymer materials are an essential part of the modern healthcare system. These materials comply with regulatory agencies worldwide, and are specifically engineered and manufactured for medical use. A polymer is a molecule, made from joining together many small molecules called monomers. Medical polymers have major application in procedures such as joint replacement, orthopedic implants, and dental implants. The most used polymer for manufacturing of medical devices such as syringes is Polyvinyl chloride (PVC), because of its properties such as versatility, availability, and low price. Medical polymers are biocompatible in nature and either remain inert or are easily processed by the human body.
Medical Polymer Market-Drivers
Technology advancement in medical polymer is expected to drive growth of the medical polymer market over the forecast period, owing to increase demand of Sponge-like polymer for spinal injury. For instance, according to the American Chemical Society (ACS), in 2016, scientists from The Mayo Clinic developed biodegradable polymer grafts which surgically placed in the damaged vertebrate, can grow into the right size and shape to fix the spinal column.
Increasing demand for packaging materials for blood bags and syringes is expected to facilitate the medical polymer market growth in the near future. PVC is a widely preferred material for the packaging of blood bags and the main reason behind using PVC material which have certain permeability to oxygen for blood platelets.
Medical Polymer Market-Restraints
Varying cost of raw materials is a major factor restraining growth of the medical polymer market. Moreover, the price of raw materials is impacted by variations in the price of crude oil which is used in the process of manufacturing polymers.
Medical Polymer Market-COVID-19 Impact Analysis
The coronavirus pandemic is expected to make a positive impact on the global medical polymer market world-wide. As the demand for disposable consumables has increased to meet the COVID-19 infected patients’ unmet need for treatment, the production of hospital equipment and consumables also been increased by the manufacturers, which in turn increased the demand for medical polymers market in the medical device industry.
Medical Polymer Market-Regional Analysis
On the basis of region, the medical polymer market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is expected to dominate the medical polymer market over the forecast period, owing to increasing prevalence of joint replacement surgeries. For instance, according to the National Center for Biotechnology Information (NCBI), 2015 report, around 7 million people
Europe is expected to witness significant growth over the forecast period, owing to implementation of stringent regulations and guidelines in the region. For instance, according to the European Union Medical Device Regulation which was implemented in 2017, all medical devices shall be designed and manufactured in a way that make them safe and effective.
Medical Polymer Market-Competitive Landscape
Key players operating in medical polymer market include Bayer AG, Evonik Industries, Celanese, DuPont, Dow Chemical, Eastman Chemical, Huntsman, Lubrizol, Ensinger, Trinseo, BASF, Arkema, Biomerics, and DSM.
Medical Polymer Market-Taxonomy
The medical polymer market is segmented on the basis of product type, application, and region.
By Product Type
- Polyvinyl Chloride
- Rubber Latex
- Surgical Instrument
- Diagnostic Equipment
- Orthopedic Implants
- Dental Implants
- North America
- Latin America
- Asia Pacific
- Middle East