A recent report published by Infinium Global Research on medical polymers market provides in-depth analysis of segments and sub-segments in the global as well as regional medical polymers market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional medical polymers market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global medical polymers market. According to the report, the global medical polymers market is projected to grow at a CAGR of 9.17% over the forecast period of 2019-2025.
Development of polymers has opened new doors to many of the end-use industries such as packaging, electronics, automobile, medical, pharmaceutical, consumer goods, food and beverage, and others. Polymers have superior physical and chemical properties as compared to other materials such as paper, metal, ceramics, and others. They have found a significant application in the medical vertical. Polymers are used for the packaging of medical products, in medical devices, implants, and others. The medical polymers market is highly competitive and consolidated in nature, where only a few players in the market have command over a large part of market share. The key market players including BASF SE, Bayer Material Science AG, Celanese Corporation, DSM N.V., E. I. du Pont de Nemours Company, Eastman Chemical, and others are focusing on new product developments and develop plastic-based composite materials to expand their business.
The flourishing medical devices market is majorly driving the medical polymers market. Medical polymers have found its application in the medical devices industry owing to their enhanced properties. This increases the demand for medical polymers. Moreover, the growing demand for home healthcare treatment is expanding the demand for medical polymers. Furthermore, the rise in the geriatric population is supporting the growth of the medical polymers market. However, the fluctuation in raw material prices is the major restraining factor for the growth of the medical polymers market. Nevertheless, the development of smart polymers is expected to offer lucrative opportunities for the key players in the medical polymers market.
In terms of region, North America held the highest market share, dominating the global medical polymers market. The dominance of North America attributed to the high prevalence of chronic diseases and better reimbursement situation in this region. Moreover, the advantages such as low-cost, enhanced performance over ceramic and metals boost the growth of the medical polymers market. While the Asia Pacific is expected to witness the highest growth rate among the other regions owing to the growing medical tourism and rise in government initiatives to support research and development activities in the field of polymers and medicine.
The report on global medical polymers market covers segments such as product and application. On the basis of product, the sub-markets include medical fibers and resins, medical elastomers, and biodegradable medical plastics. On the basis of application, the sub-markets include medical devices and equipment, medical packaging, and other applications.
The report provides profiles of the companies in the market such as BASF SE, Bayer Material Science AG, Celanese Corporation, DSM N.V., E. I. du Pont de Nemours Company, Eastman Chemical, Formosa Plastics Corporation, The U.S.A., Huizhou Foryou Medical Device Co. Ltd., Dow Chemical Company, Sinopec Beijing Yanshan Company, and Other Companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of medical polymers market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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