The fibers and resins sector accounted for the largest market share of medical polymers market and is estimated
to lead the overall market in the coming years. This may be because of rising use in numerous applications like
hip and joint replacements, spinal implants, and cranial injuries. In addition, in 2016 the sector accounted for
86.7% of overall revenue. Moreover, medical elastomers are estimated to grow at fastest pace in the coming
years, as raised replacement of outdated materials like glass, metals, and ceramics.
The market may be categorized based on applications like medical packaging, medical equipment & devices,
and others that could be explored in foremost period. The medical equipment & devices sector is estimated to
grow at fastest pace with significant market share in the coming years. This may be because of growing
population, high consumer spending on healthcare mainly in developed countries, and occurrence of chronic
diseases. Also, medical packaging is projected to grow at highest CAGR of 7.8% in terms of revenue in the
upcoming years, as high demand in pharmaceutical packaging and designing packaging systems.
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Globally, North America accounted for the largest market share of medical polymers industry and is estimated
to lead the overall market in the coming years. The reason behind the overall market growth could be presence
of key manufacturers to develop innovative products like pH- and temperature-sensitive polymers, developed
healthcare infrastructure, and rising use of highly innovative techniques. The United States is a major consumer
of Medical Polymers in this region.
Instead, Europe and the Asia Pacific are also estimated to have a positive influence on the future growth. Europe
is the second largest region with significant market share. However, Asia Pacific is estimated to grow at fastest
pace with the highest CAGR in the foremost period. The aspects that may be ascribed to the growth comprise
government initiatives and favorable policies and raised investment towards research & development sector.
The developing countries like India and China are the major consumers of medical polymers market in this
region.
The key players of medical polymers industry are Evonik, Celanese, Eastman Chemical, Covestro, Dow Chemical,
Borealis, Victrex, DSM, Kraton Performance Polymers, DuPont, Huizhou Foryou Medical Devices, and
ExxonMobil. These players are concentrating on inorganic growth to sustain themselves amongst fierce
competition. As such, mergers, acquisitions, and joint ventures are the need of the hour.
Market Segment:
Medical Polymers Product Outlook (Volume, Kilotons; Revenue, USD Million; 2012 - 2020)
• Medical resins & fibers