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Medical Polymers Market Size

Report ID: GMI1126
Published Date: Dec 2022
Report Format: PDF

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Medical Polymers Market Size

Medical Polymers Market size was valued at USD 20 billion in 2022 and is expected to observe over 8% CAGR through 2032. Rapid growth of the pharmaceutical devices sector over the past few years has significantly impacted the industry expansion.

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In the current scenario, chronic medical ailments such as infections, cardiovascular issues, generic medical conditions, and other disorders are becoming increasingly prevalent. This has necessitated the development of advanced pharmaceutical devices and sophisticated medical treatments. Medical-grade polymers have established themselves as an essential component of the global healthcare ecosystem. They are employed in a wide range of devices, from surgical tools to implants and catheters. Single-use medical devices are also less likely to transmit healthcare-associated illnesses than reusable equipment as they are radiolucent, allowing light weighting, with minimized stress shielding.

Medical Polymers Market Report Attributes
Report Attribute	Details
Base Year:	2022
Medical Polymers Market Size in 2022:	USD 20 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	8.3%
2032 Value Projection:	USD 45 Billion
Historical Data for:	2018 to 2022
No. of Pages:	320
Tables, Charts & Figures:	529
Segments covered:	Product, Application, and Region
Growth Drivers:	Growing pharmaceutical devices market Increasing geriatric population and consequential medical treatments Changing trends towards home health care treatment
Pitfalls & Challenges:	Inconsistent raw material prices Stringent regulations to govern new products

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Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Market size for medical polymers was valued at USD 20 billion in 2022 and is expected to observe over 8% CAGR through 2032, driven by the rapid growth of the pharmaceutical devices industry.

Medical polymers industry share from biodegradable medical plastics segment is expected to grow at more than 10% CAGR through 2032, as it utilizes less energy than traditional plastics and is better for the environment.

MEA medical polymers size is likely to depict over 9% CAGR through 2032, owing to increasing product demand for medical packaging applications.

Some of the leading medical polymer manufacturers include Bayer Material Science AG, BASF SE, Eastman Chemical, DSM N.V., Celanese Corporation, Evonik Industries AG, The Dow Chemical Company, Exxon Mobil Corporation, Sinopec, Lubrizol Corporation, SABIC Innovative Plastics, Huntsman Corporation, and Solvay SA.