Medical Grade Polypropylene Polymers Market to Expand by 2.5x as Demand for Home Healthcare Devices Skyrockets

iCrowd Newswire
23 Nov 2021, 19:03 GMT+10

According to the latest Fact.MR analysis, the global medical Grade Polypropylene polymers market size was valued at US$ 8.19 Bn in 2020 and is projected to reach US$ 20.1 Bn by 2031. With growing scope of medical polymers applications in the medical field, the overall market is projected to surge at 8.2% CAGR between 2021 and 2031.

Medical polymers are lightweight, they offer better biocompatibility, and are available at low cost which makes them ideal for application in packaging of various medical devices.

Increasing prevalence of chronic diseases is pushing the sales of medicines and medical devices. As medical polymers form an important component of medical devices and packaging, the market is slated to witness strong growth in the future.

The rising demand for home healthcare devices is creating demand for medical polymers. People are showing keen interest in purchasing various medical devices suitable for home healthcare setting to minimize the hospital charges and reduce the threat of infection. This will improve the sales of medical Grade Polyester polymers in the coming years.

Manufacturers are continuously investing in research and development to produce better and sustainable medical polymers. This has encouraged application of medical polymers in plastic surgeries and implants.

Request a report sample to gain compressive insights at

https://www.factmr.com/connectus/sample?flag=S&rep_id=1801

According to Fact.MR, commodity medical polymers are highly sought-after in healthcare industry. These polymers offer various advantages such as flexibility, compatibility, durability, light weight, and ease of fabrication. Hence, consumption of commodity polymers will reach around 5.3 MMT in 2021. The study forecasts the consumption of medical polymers to grow in the future.

Advancements in engineered polymers are anticipated to increase their scope for application in medical devices, implant, and packaging during the assessment period.

Regionally, North America dominates the medical polymers market and will account for around one-third of global demand in 2021. Growth in the region is attributable to the flourishing home healthcare devices market, high prevalence of chronic diseases, and presence of leading packaging and medical device companies.

"COVID-19 pandemic has exposed gaps in healthcare systems across the world. It has put countries under immense pressure to bring changes in their healthcare setups. As a result, governments around the world have started investing heavily to strengthen their healthcare infrastructure. This is expected to accelerate the growth of medical polymers market during the forecast period," says the Fact.MR analyst.

Key Takeaways from Medical Grade Polypropylene Polymers Market Survey

Demand for medical polymers is forecast to increase by 2x in the U.S. during the forecast period.

Europe medical polymers market is projected to expand at a CAGR of 7.9% between 2021 and 2031.

Medical polymers demand in China is slated to grow by a CAGR of 9.9% over the forecast period.

Sales of medical polymers in India are anticipated to increase at 6.4% CAGR between 2021 and 2031.

In terms of polymer material, commodity medical grade polymers segment accounts for a massive share of 87% in 2021.

Based on application, medical devices segment is expected to surge at 6.9% CAGR through 2031.

Key Drivers

Growing demand for medical polymers for manufacturing medical devices, equipment and packaging is primarily driving the medical polymers market.

Increasing spending on medical items such as medicines and medical devices is fueling the demand for medical polymers.

Rising trend of using recycled polymers is positively impacting the growth of the market.

Medical polymers market witnessed rapid growth during the COVID-19 pandemic as demand for medical products such as personal protective equipment (PPE) and masks skyrocketed.

To gain in-depth insights on Medical Grade Polyvinyl Chloride Polymers Market, request methodology at

https://www.factmr.com/connectus/sample?flag=RM&rep_id=1801

Competitive Landscape

Key companies operating in the medical polymers market are using various strategies such as research and development activities, mergers, acquisitions, new product launches and establishment of new facilities to expand their business.

In October 2021, Avient Corporation, a premium provider of specialized and sustainable material solutions and services, launched two new sustainable polymer solutions for medical and pharmaceutical applications.

In July 2021, Trelleborg Healthcare & Medical announced that its experts will exhibit advanced polymer solutions for healthcare and medical applications at MD&M West in Anaheim, California, on August 10 and 12. The company will unveil its latest capability to help healthcare and medical customers expedite their product development process. The new offerings will help to minimize production cost, quicken development time and ensure superior quality products.

In February 2020, Clariant launched new medical polymer materials, specially formulated to resist degradation caused by exposure to high humidity and temperature. The new compounds, marked under the MEVOPUR brand name covering Clariant's medical grade materials, are expected to be useful in applications such as catheters.

Some of the prominent players operating in the medical polymers market profiled by Fact.MR are:

LyondellBasell

Lotte Chemical Corporation

LG Chem

Exxon Mobil Corp

Hyosung Corporation

SABIC

Ineos

Total Plastics

Sinopec

Formosa Plastics

SIBUR

More Insights on the Global Medical Grade Polyethylene Polymers Sales Outlook

Fact.MR provides an unbiased analysis of medical polymers market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the global demand for medical polymers with a detailed segmentation on the basis of:

Polymer Material

Commodity Polymers

Medical Grade Polypropylene

Medical Grade Polyvinyl Chloride

Medical Grade Polyethylene

LDPE

HDPE

LLDPE

Medical Grade Polyesters

Engineering Thermoplastics

Polyvinyl Pyrrolidone (PVP)

PEEK

Polycarbonate

Others

Application

Packaging

Injections

Medical Bags

Medical Tubes

Pharmaceutical Blisters and Trays

Microplates

Vials

Blister Packs

Others

Implants

Breast Implants

Orthopedic Implants

Spinal Implants

Others

Medical Wear

Gloves

Face Shields

Masks & Gowns

Others

Medical Devices

Pacemakers

Dental & Orthodontic Devices

Catheters

Contact Lenses

Others

Processing Method

Blow Fill Seal

Injection Stretch Blow Molding

Extrusion Blow Molding

Others

Region

North America

Latin America

Europe

East Asia

South Asia

Oceania

Middle East Africa

Key Questions Covered in the Medical Grade Polyesters Polymers Market Outlook Report

The report offers insight into medical polymers demand outlook for 2021-2031

The market study also highlights projected sales growth for medical polymers market between 2021 and 2031

Medical polymers market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry

Medical polymers market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others

Reasons to choose Fact.MR:

Exhaustive research regarding the market to offer A to Z information.

Digital technologies to provide innovative business solutions to the clients.

24/7 availability of services.

Interaction with suppliers, vendors, and service providers for precise market landscape.

Reports tailored as per the requirements of the client

Explore Fact.MR's Coverage on the Chemicals and Materials Domain:

Bio-succinic Acid Market – Forecast, Trend, Analysis & Competition Tracking – Global Market Insights 2020 to 2030

Surge Suppression IC Market –Forecast, Trend Analysis & Competition Tracking – Global Review 2021 to 2031

Liquid Propellants Market – Forecast, Trend Analysis & Competition Tracking – Global Review 2021 to 2031

About Us:

Market research and consulting agency with a difference! That's why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we'll be an able research partner.

Contact:US Sales Office:11140 Rockville PikeSuite 400Rockville, MD 20852United StatesTel: +1 (628) 251-1583

Corporate Headquarter:Unit No: AU-01-H Gold Tower (AU),Plot No: JLT-PH1-I3A,Jumeirah Lakes Towers,Dubai, United Arab EmiratesEmail: [email protected]Visit Our Website: https://www.factmr.com

Tags: Medical Polymers Business