The medical polymers market report is an in-depth research of the industry size, share, trends, growth drivers and forecasts, as well as the end application, net consumption volume and value, the supply, production, pricing structure during 2014 – 2022.
The research report titled “Medical Polymers Market by Type (PVC, Polypropylene, Polyethylene, Polystyrene, Polycarbonate, PEEK, Hydrogel, Styrenic block copolymer, Rubber latex, Biodegradable, PLA, and Others), by Application (Surgical Instruments, Diagnostic Equipment, Orthopedic Implants, Electronic Implants, Dental Implants, Disposables, Packaging and Others) – Global Opportunity Analysis and Industry Forecast, 2014 – 2022” is an exhaustive analysis of the global medical polymers market. The report is segmented based on the type of polymers and their application areas. Expert analysts study the impact of current consumer and industry trends that drive the growth of the market at present. Careful estimations and data analysis tools are used to extract quantitative and qualitative market forecasts for the period between 2016 and 2022.
According to the findings of the report, the global medical polymers market is expected to register a CAGR of 13.0% during the forecast period. As a result of which, the net market size is expected to reach worth $19,014 million by the end of 2022. The bioresorbable plastics (PGA) market is expected to register the highest CAGR of 17.1% along the forecast period. As projected, resins will continue its previous dominance over the other market segments in terms of revenue throughout the duration. In 2015 alone, resins were accountable for around 80% of the medical polymers market shares. Among the sundry application areas identified for the medical polymers, the device segment accounts for around 50% of the total consumption volume around the globe.
Based on the different types of products offered, the medical polymers market report is further categorized for a more detailed introduction. The broader types such as resins, elastomers, and biodegradable plastics. These include PVC, Polypropylene, Polyethylene, Polystyrene, Polycarbonate, PEEK, Hydrogel, Styrenic block copolymer, Rubber latex, Biodegradable, and PLA. As mentioned earlier, the resins lead the way in terms of demand and consumption volumes and the global share in revenue. The market for resins is expected to find further growth opportunities given the recent research progress made with advanced polymers. These have emerged with the possibility of replacing the traditional medical devices and equipment with high-quality alternatives.
Based on the application segments, the medical polymers market report has been broadly divided into medical devices, disposables, implants, and packaging material. In further segmentation, analysts present a deeper understanding of the market channels for the surgical instruments, diagnostic equipment, orthopedic implants, electronic Implants, and dental Implants among others. The devices segment, as discussed earlier holds the major market share in terms of consumption. It is evident that technology offerings, such as polymer laminate, has a major influence in the increased implementation of advanced medical polymers in the industry. Within the device segment, analysts describe the huge revenue contribution from the diagnostic equipment sector. Following up next, is the disposables segment, which is observed to register highest growth throughout the study period. The estimated CAGR for disposables will be around 14.2% during 2016 – 2022.
The global medical polymer market research report goes on to discuss the competitive scenario created by the presence of existing companies in this segment. The evident competition is further intensified due to the entry of new companies with their innovative products. Despite the high fragmentation that is observed within the global industry, the leading companies enjoy the advantage of a vast product portfolio, established supply & demand channels, along with a huge research and development investment capacities. At present, they focus on strategic business expansion activities to maintain their competitive edge and market position. These strategies include partnerships, mergers, acquisitions, collaborations, joint ventures, portfolio expansion, and investments. Portfolio expansion embraces product research and development activities and the high investments made in that direction. The key companies that operate in the market are profiled in the report for their operations, product portfolio, financial perormance, and geographical presence. These include Eastman Chemical Company, Evonik Industries AG, The Dow Chemical Company, Formosa Plastics Corporation USA, Arkema SA, BASF SE, Covestro AG, DSM N.V., Solvay S.A, and Celanese Corporation.