Medical polymers market research report 2016-2024

Medical Polymers Market - Competitive Market Share &
Forecast, 2016 – 2024: Global Market Insights, Inc.
Medical polymers market has also been segmented on the basis of uses into devices and equipment,
packaging, and other specific applications such as in tissue culture, cardiovascular diseases, etc.
Medical Polymers Market size is slated to cross USD 24 billion by 2024; as per a new research report
by Global Market Insights, Inc.
Rapidly enhancing pharmaceutical devices demand owing to the prevalence of heart diseases,
infections, or general illness and technological advancements in the treatment process will steer the
global medical polymers market growth in upcoming years. Increasing health awareness among
developed nations will also support the industry throughout the forecast spell.
Pharmaceutical device industry generated over USD 300 billion in 2015, of which U.S. had a
major share of around 45%. U.S. recorded over 6,500 pharmaceutical device manufacturers
by 2015 and the growing demand in the country as well as export demand in the emerging
economies will escalate the Medical Polymers market growth in coming years. Growing
application of polymers including polysulfone, polyphenylsulfone, polyether-ether-ketone or
PEEK, and polyetherimide in pharmaceutical devices will propel the overall medical
polymers market growth.
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Browse key industry insights spread across 180 pages with 256 market data tables & 16
figures & charts from the report, “Medical Polymers Market Size By Product (Medical Fibers
& Resins [PVC, PP, PE, Polystyrene], Medical Elastomers [SBC, Rubber Latex],
Biodegradable Medical Plastics), By Application (Medical Devices & Equipment, Medical
Packaging), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK,
France, Spain, Italy, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico,
South Africa, GCC), Growth Potential, Price Trends, Competitive Market Share & Forecast,
2016 – 2024” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/medical-polymers-market
Increasing global geriatric population will also be a significant medical polymers market
driver owing to their growing medical needs. Population over the age of 65 years increased
from 7.6% of global population in 2010 to around 8.3% in 2015 and will increase owing to
pharmaceutical developments and increasing geriatric care units. The American Geriatrics
Society has predicted the U.S. geriatric population to reach 20% of total population by 2030.
Ubiquity of chronic disorders such as cardiac diseases, calcium deficiencies, arthritis, etc. will
likely have a positive influence on global Medical Polymers market in the forecast span.
Medical polymers market will also be driven by the growing home-based private healthcare
demand. The ease and affordability of private healthcare systems along with factors
including commotions in public facilities, chronic or contagious diseases, and elderly
patients will enhance the home-based healthcare industry in the upcoming years. In 2015,
the global home-based private healthcare industry generated more than USD 200 billion
and it will grow by CAGR over 8% up to 2024.
Key insights from the Medical Polymers Market include:
Medical fibers & resins will be a noteworthy product segment and generated more than
USD 8 billion in 2015. Polypropylene based fibers & resins will likely grow at a significant
rate owing to its chemical inertness, light weight, and favorable mechanical properties.
Overall medical fibers & resins will flourish at more than 8% CAGR up to 2024.
Developments and preferences of bio-based polymers for environmental sustainability will
characterize the growth of biodegradable medical plastics. This segment will likely register a
CAGR over 15% in the overall medical polymers market in the forecast spell. Medical
packaging applications will be a fast-growing segment owing to mandatory sterilization and
medical disposable regulations.
Regional medical polymers market growth will be focused around the emerging economies
in Asia Pacific, Latin America, and Middle East & Africa, owing to rapidly increasing medical
awareness and government initiatives. Asia Pacific Medical Polymers will register more than
10% CAGR in the forecast timespan.
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Raw material price volatility will hinder the medical polymers market growth in the forecast
spell. Petrochemical based raw materials prices are dependent on the global crude oil
prices, which is highly fluctuating in nature. Strict norms about volatile organic compound
(VOC) content in the polymers may also restrain the medical polymers market. End products
are based on superior biocompatibility with various product blends, and the expensive
manufacturing technologies will restrain the entry of new market participants. Medical
polymers market competitive landscape is fragmented in nature with the presence of
various major manufacturing companies.
Related Report:
https://www.gminsights.com/industry-analysis/medical-polymers-market
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