Medical Polymers Market By Product (Medical Fibers & Resins [PVC, PP, PE, Polystyrene], Medical Elastomers [SBC, Rubber Latex], Biodegradable Medical Plastics), By Application (Medical Devices & Equipment, Medical Packaging)

Ocean View, DE -- (SBWire) -- 05/22/2020 --Medical Polymers Market report provides in-depth information about Industry overview, top vendors, Key market highlights, drivers, challenges, trends, industry landscape, size and forecast.

The healthcare sector has observed a paradigm shift since the last few years, subject to which Medical Polymers Market will depict a lucrative growth path. Of late, there has been a spur in the prevalence of chronic ailments such as cardiovascular disorders, infections, hypertension, dementia, osteoporosis, and arthritis, thereby boosting global pharmaceutical and healthcare sectors, which are key drivers propelling medical polymers market.

Companies operating in global medical polymers market adopt varied business strategies such as collaborations, R&D investments, and mergers & acquisitions to sustain their position. This industry is highly fragmented and involves the partaking of myriad local medium and large-sized businesses. Major players operating in medical polymers market include Evonik Industries, DuPont, Huntsman, Bayer AG, Dow Chemicals, Celanese Corporation, and Eastman Chemicals. Medical polymers market firms constantly strive to upgrade their product portfolio and improve their service sphere to score an edge over competitors.

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Recently, at K 2016, the world's largest plastics fair, Celanese Corporation showcased their range of reliable, safe, and compliant medical polymers that acknowledge issues such as dosage frequency and patient compliance. These polymers, when incorporated in medical devices & equipment, were designed to depict high performance, distinguishable appearance, and efficient operational ability. With many other companies undertaking similar efforts to develop high grade polymers for easy and safe treatment admission, global medical polymers industry size is set to rise a notch higher.

Global pharmaceutical device market was valued over USD 300 billion in 2015 and is anticipated to register a notable CAGR of more than 6% over the next seven years. U.S. held more than 45% of this share in 2015, subject to which pharmaceutical device industry from the U.S. is estimated to grow remarkably over the next few years. This will significantly propel U.S. medical polymers market as well.

Rising utilization of polymers such as polyphenylsulfone, polyether ether ketone, and polyetherimide in pharmaceutical equipment will also contribute to the growth of medical polymers industry.

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More than 20% of the population in the United States is likely to be above 65 years of age by 2030, and is expected to be susceptible to chronic ailments. Thus, the rapidly growing elderly population will fuel U.S. medical polymers market over 2016-2024.

North America medical polymers industry was valued over USD 4.5 billion in 2015, and will grow noticeably over the years ahead, driven by the rapidly developing medical & pharma sectors, increasing healthcare spending, and public awareness related to health issues. Additionally, this region will witness huge product application in medical packaging and medical devices & equipment sectors, which will fuel North America medical polymers market.

Key players are

BASF SE, Bayer Material Science AG, Celanese Corporation, DSM N.V., E. I. du Pont de Nemours Company, Eastman Chemical, Evonik Industries AG, Exxon Mobil Corporation, The Dow Chemical Company, Huizhou Foryou Medical Device Co. Ltd., Kraton Performance Polymers Inc., Tianjin Plastics Research Institute Co. Ltd., Formosa Plastics Corporation, U.S.A., Shanghai New Shanghua Polymer Material Co. Ltd., Sinopec Beijing Yanshan Company, Ningbo Yonghua Resin Co. Ltd., SINOPEC Shanghai Petrochemical Co. Ltd., SABIC Innovative Plastics, Lubrizol Corporation, Piaoan Group, Victrex Plc, Huntsman Corporation, China Haohua Chemical Group Co., INEOS, Jafron Biomedical Co. Ltd., Solvay SA, WEIGAO Holding Co. Ltd. (WEGO)

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