According to the latest report by IMARC Group, titled “Medical Polymers Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global medical polymers market reached a value of US$ 16.4 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 8% during 2021-2026.We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Medical polymers are widely used for formulating drugs in regenerative medicine and tissue engineering. This can be accredited to their chemical and physical properties, including permeability, versatility, strength, flexibility, biodegradability, biocompatibility, sterilization stability, self-reinforcement, and fatigue, heat, and electrical resistance. They generally comprise bulk materials, coatings, and pharmaceutical nano-carriers. Nowadays, advanced medical polymers with adjusted molecular weight, copolymers and blends, additional bioactive surface functionalization, and crosslinking and crystallization degrees are being introduced by leading manufacturers operating in the industry.
The coronavirus disease (COVID-19) outbreak has increased the need for medical equipment, such as swabs, disposable masks, and personal protective equipment (PPE), to treat patients across the globe. This represents one of the key factors bolstering the market growth. In addition, the rising prevalence of infectious, chronic, and cardiovascular diseases is propelling the adoption of advanced medical devices. This, in confluence with increasing investments in improving healthcare infrastructure by governing agencies of numerous countries, is escalating the demand for new medical polymers to support device development and sustainability.
Medical Polymers Market 2021-2026 Competitive Analysis and Segmentation:
Competitive Landscape with Key Players:
The competitive landscape of the global medical polymers market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- BASF SE
- Celanese Corporation
- Covestro AG
- Eastman Chemical Company
- Evonik Industries AG
- Exxon Mobil Corporation
- Huizhou Foryou Medical Device Co. Ltd.
- Kraton Corporation
- Solvay S.A.
Key Market Segmentation:
The report has segmented the global medical polymers market on the basis of product type, application and region.
Breakup by Product Type:
- Medical Resins and Fibers
- Medical Elastomers
- Biodegradable Medical Polymers
Breakup by Application:
- Medical Equipment and Devices
- Medical Packaging
Breakup by Region:
- North America
- Latin America
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Industry Trends
- Market Drivers and Success Factors
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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