GLEN ALLEN, Va., March 3, 2016 /PRNewswire/ -- According to a new report from industry analyst firm n-tech Research, the global market for medical polymers will grow to over $2.9 billion in revenue in 2021. The report titled, "Worldwide Medical Polymer Markets 2016-2025" identifies the current and future opportunities in the medical polymers space and provides guidance on the technical and regulatory framework in which these opportunities are arising.
Details about the report are available at: http://ntechresearch.com/market_reports/worldwide-medical-polymer-markets-2016-2025
About the Report:
This new report provides deep strategic insight into how the polymer industry can generate new business revenues in medical and healthcare applications. These perspectives are backed up with numerous forecasts in both revenues and volume (Kg) terms. The report also sets out n-tech's views on which polymers are likely to do best in the market.
The report reviews the markets for medical polymers used for medical applications, including developing implants, diagnostic systems, and hospital labware, It also provides an analysis of the current technical trends in medical polymers including polymer production and evaluation for clinical approval, as well as a deeper understanding of key medical products and their future.
The report also profiles the relevant activities of major companies manufacturing medical polymers and insight into the geographical distribution of the medical polymer market including details of national regulatory requirements for countries where sophisticated medical polymers are widely used. Firms discussed in the report include, Celanese, Covestro, Dow Corning, DowDupont, DSM, Eastman Chemical, Evonik, Solvay and many others.
From the Report:
- Implants currently consume about half the medical polymers produced and are expected to account for around $1.7 billion in polymer sales by 2021. Polymers have been penetrating the implant market because they are lower cost and lighter weight than metal alternatives, such as titanium. But they also benefit from aging population and enabling technologies, especially medical imaging.
- Similar trends are driving the markets for polymers used in diagnostic systems will reach more $1 billion in 2021. Diagnostic technologies are an inevitable part of health management programs today and currently most diagnostic procedures are rapid, multi-assays in which plastics have become indispensable. The growth prospects in this sector are thus especially strong.
- Medical polymer revenues are spread over a large range of polymers. By far the biggest contributor to revenues is PMMA, which will generate $745 million in 2021. PS/styrenics, LDPE and PEEK are also important commercial medical polymers – combined, these four types of polymer will account for 54 percent of the medical polymer market by 2021. The report also identifies some high margin markets.
- The last decade has also seen the rise of biodegradable polymers and n-tech believes that current trend indicate that, entire prostheses soon will be developed from these materials. While they will not be used to manufacture diagnostic products, biodegradable polymers will be incorporated into implants and even some clinical labware. There is also some additional interest in discovering new biodegradable polymers for medical applications, but investment in this area is limited due to the need to complete extensive long-term studies in order to validate new materials.
n-tech Research is the rebrand of NanoMarkets LC Our firm is a recognized leader in industry analysis and forecasts for advanced materials markets. See
http://www.ntechresearch.com for a full listing of the firm's reports and other services.
SOURCE n-tech Research