LONDON–(BUSINESS WIRE)–The global medical polymers market size is poised to grow by USD 7.47 billion during 2020-2024, progressing at a CAGR of about 8% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
The rising prevalence of spinal disorders, such as spondylitis, spinal stenosis, spinal tumor, osteoporosis, degenerative diseases, scoliosis, and herniated disc, is increasing the demand for spinal implants. Medical polymers such as Low-density PE (LDPE) and high-density PE (HDPE) are used in spinal implants. These polymers offer high tensile strength, high crystallinity, and other properties. The rising prevalence of spinal disorders will increase the demand for spinal implants, which, in turn, will drive the medical polymers market during the forecast period.
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Report Highlights:
- The major medical polymers market growth came from the fiber and resins segment in 2019, and is expected to witness the fastest growth during the next five years.
- North America was the largest medical polymers market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. This is attributed to factors such as the rising number of spinal implants and the growth of the pharmaceutical packaging industry.
- The global medical polymers market is fragmented. BASF SE, Biomerics LLC, Celanese Corp., DuPont de Nemours Inc., Evonik Industries AG, Foster Corp., Innovative Polymer Compounds Ltd., Kraton Corp., Solvay SA, and The Lubrizol Corp. are some of the major market participants. To help clients improve their market position, this medical polymers market forecast report provides a detailed analysis of the market leaders.
- As the business impact of COVID-19 spreads, the global medical polymers market 2020-2024 is expected to have neutral growth. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.
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Rising Demand for Pharmaceutical Packaging will be a Key Market Trend
Global pharmaceutical packaging vendors are gaining growth opportunities due to the increase in R&D spending and the introduction of new drugs by pharmaceutical manufacturers. Many pharmaceutical packaging vendors are adopting organic and inorganic growth strategies to utilize the available market opportunities. Pharmaceutical packaging companies use various medical polymers for manufacturing packaging products. Some of the polymer-based pharmaceutical packaging products are sterile plastic packaging systems for human blood and blood components, plastic packaging systems for aqueous solutions, bags for parenteral solutions, infusion dry powder and metered-dose inhalers, and others. Thus, the rising demand for pharmaceutical packaging will drive the growth of the market.
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Medical Polymers Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist medical polymers market growth during the next five years
- Estimation of the medical polymers market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the medical polymers market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of medical polymers market vendors
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Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 – 2024
Five Forces Analysis
- Five force summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Product
- Market segments
- Comparison by Product
- Fibers and resins – Market size and forecast 2019-2024
- Medical elastomers – Market size and forecast 2019-2024
- Biodegradable medical polymers – Market size and forecast 2019-2024
- Market opportunity by Product
Market Segmentation by Application
- Market segments
- Comparison by Application
- Implants – Market size and forecast 2019-2024
- Diagnostic systems – Market size and forecast 2019-2024
- Hospital accessories – Market size and forecast 2019-2024
- Market opportunity by Application
Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- North America – Market size and forecast 2019-2024
- APAC – Market size and forecast 2019-2024
- Europe – Market size and forecast 2019-2024
- South America – Market size and forecast 2019-2024
- MEA – Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Vendor landscape
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- BASF SE
- Biomerics LLC
- Celanese Corp.
- DuPont de Nemours Inc.
- Evonik Industries AG
- Foster Corp.
- Innovative Polymer Compounds Ltd.
- Kraton Corp.
- Solvay SA
- The Lubrizol Corp.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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