Medical Styrenic Polymers Market Size

Medical Styrenic Polymers Market Size

Medical Styrenic Polymers Market size was valued at around USD 3.2 billion in 2019 and will exhibit a growth rate of over 5.7% CAGR from the period of 2020 to 2026.  The demand for styrenic polymers is mainly driven by its rising preference over traditional polymers and metals, owing to growing concerns over environmental threats.

Poly vinyl chloride (PVC) is among the most popular thermoplastic used across medical industry. Moreover, another factor driving the medical styrenic polymers market is the drastic shift from traditionally used metallic devices to polymer based medical devices, owing to its wide advantages over metallic devices. Polymer based medical highly desirable in medical applications mainly due to its design versatility, easy disposability. light weight, cost effectiveness and better aesthetics. This shift in preference is anticipated to positively contribute to the overall market size during the forecast period.

A variety of styrenic polymers such as, SMMA, ABS, SAN, MABS, SBCs, MBS, etc. is employed in medical applications. Polystyrene is among the most common polymer types of styrenic copolymer and constitute a major chunk of the overall medical styrenic polymers market mainly due to several excellent properties such as aesthetics, color stability and melt flow consistency among others. The other most commonly used styrenic polymers are SEBS and ABS.
 

Styrenic polymers are widely used in containers, IV solution bags, packaging, fabrics and other applications such as tubing’s, multiflow devices etc. Medical packaging constitutes a major chunk which accounts for approximately 20% of the total medical styrenic polymers in 2019. Medical packaging includes packaging for pharmaceutical capsules, tablets, liquids, ointments, powders and creams, as well as for overwrapping medical devices via material made up of ABS, polystyrene, SBS, MBS, SEBS, etc. These growing applications of styrenic polymers in medical devices will positively impact the medical styrenic polymers market share throughout the forecast period. However, the high price of styrenic polymers is projected to be a major factor retraining the overall market during the assessment period.