The global medical polymers market is
expected to grow at a CAGR of 8.4% from 2014 to 2020, according to a new report
by Grand View Research. Shifting trends towards substitution of conventional
materials by high performance polymers such as polypropylene and PVC in medical
devices coupled with growing demand for medical equipments from emerging Asian
healthcare market is expected to drive the market over the next five years.
Increasing geriatric population, especially in developed economies is expected
to further support the growth of this industry.
Growing awareness regarding
benefits of using medical polymers with biocide properties is expected to drive
market demand. In addition, increasing popularity of lightweight, low cost,
portable and small devices in healthcare industry is likely to propel industry
expansion.
Browse full research report on Global
Medical Polymers Market: http://www.grandviewresearch.com/industry-analysis/medical-polymers-market
Medical fibers and resins product segment is expected to
grow at a CAGR of over 8% from 2014 to 2020. In addition, increasing
consumption of polyvinyl chloride (PVC), polyethylene (PE), polystyrene (PS)
and polypropylene (PP) will fuel medical polymers industry growth.
Biodegradable plastics are expected to witness significant gains in light of
its mounting utilization in pharmaceutical packaging because of high thermal
and mechanical properties. Its demand is likely to reach 79.5 kilo tons by
2020.
In terms of application, medical
packaging was the second largest application segment in 2013 and is expected to
grow at a CAGR of 6.0% from 2014 to 2020 on account of increasing scope of
flexible packaging in finished goods. Rising demand from various packaging systems
including blood bags, syringes, oral solids and liquids is expected to
stimulate development.
North America dominated the
global market in 2013, accounting for over 40% of the volume share and is
expected to grow substantially on account of technological development and
significant investments in R&D. Moreover, increasing need for advanced
instruments with better performance and higher strength and flexibility, mainly
in the U.S., is likely to spur growth.
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry/plastics-polymers-and-resins
The Dow Chemical Company,
Celanese, and Eastman Chemical Company dominated the global market share in
2013. Other participants include Bayer, Evonik Industries, Victrex, DuPont,
Tianjin Plastics Research Institute Co. Ltd, and Lubrizol Corporation. The key
strategies adopted by major players include product developments and mergers
& acquisitions.
In November 2014, Celanese
Corporation announced the introduction of a medically compliant and
tribologically advanced material, Hostaform MT SlideX POM, which manufactures
healthcare devices with low coefficient of friction and wear. In February 2011,
Bayer MaterialScience announced development of a new polycarbonate resin,
Makrolon, for bone fixation device on account of its high strength, reduction
in complication and low cost.
In June 2011 Eastman Chemical
Company announced plans of acquiring Sterling Chemicals, a petrochemical
company, in a deal worth USD 100 Million. In December 2014, Eastman Chemical
Company announced plans of acquiring a specialty chemical company, Taminco
Corporation.
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
For more information: www.grandviewresearch.com
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