Global Medical Polymers Demand is Expected to Reach 6,411.7 kilo tons in 2018: Transparency Market Research
ALBANY, New York, August 27, 2013 /PRNewswire/ --
According to a new report published by Transparency Market Research "Medical Polymers, Resins and Fibers (PVC, PP, PE, PS), Elastomers (SBC, Rubber Latex), Biodegradable Plastics Market for Devices, Equipment, Packaging and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2012 - 2018," the global medical polymers demand was 4,391.0 kilo tons in 2011 and is expected to reach 6,411.7 kilo tons in 2018, growing at a CAGR of 5.6% from 2012 to 2018. In terms of revenue, the market was valued at USD 8.4 billion in 2011 and is grow at a CAGR of 8.4% from 2012 to 2018.
Browse the full report at http://www.transparencymarketresearch.com/medical-polymers-market.html
Increase in life expectancy leading to increased demand for healthcare treatment is expected to be the key driver for the medical polymers market. It is estimated that by 2050, over 16% of the global population would be over 65 years of age. This would result in higher demand for home healthcare treatment as the above-mentioned populations is the key segment for the market. Home healthcare directly impacts the sale of medical disposables, which are increasingly being made from polymers owing to reduced cost and superior performance. The development and use of biodegradable plastic in medical industry is also expected to be a key feature responsible for the development of the market over the forecast period.
Fibers and resins dominated the medical polymers market and accounted for over 85% of global consumption in 2011. PVC and PP were the highest consumed resins accounting for over 55% of the segment sale in 2011. However, engineering thermoplastics like PC and ABS are expected to have the fastest growth in the resins and fibers segment, growing at a CAGR of over 8% from 2012 to 2018. Medical Elastomers such as SBC, TPU, TPO, Silica Rubber and TPV among others were the second largest consumed product segment for the market and recorded consumption of over 550 kilo tons in 2011. In spite of its small market size, biodegradable plastics are expected to witness exponential growth over the forecast period.
Medical polymers are used in applications such as medical devices and equipment, packaging, cardiology stents and tissue engineering. Medical devices and equipment was the most dominant application segment for medical polymers in 2011 accounting for nearly 50% of the global volume. Medical packaging was the second largest application segment in 2011 and is expected to witness the fastest growth over the forecast period owing to substitution of conventional materials such as glass by PVC, PP and engineering thermoplastics.
North America was the largest consumer of medical polymers and consumed over 1,800 kilo tons in 2011. North America and Europe are expected to remain dominant markets for medical polymers over the next six years owing to the negligible impact of economic downturn on the medical industry in these regions. Asia Pacific is expected to be the fastest growing market over the forecast period majorly due to the shift in manufacturing activities from western countries to countries such as India and China.
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Some of the key participants profiled in the report include DuPont, BASF, Bayer Material Sciences, Eastman Chemicals, Dow Chemicals, Kraton and Evonik among others. The report gives a comprehensive view of the medical polymer market in terms of volume and revenue. In addition, the report includes current demand analysis and forecast for each product in North America, Europe, Asia Pacific and Rest of the World. The report comprises of the following segments:
Medical Polymers Market: Product Segment Analysis
Medical Resins and Fibers
Medical Elastomers
Biodegradable Plastics
The product segments have been further analyzed based on the materials used in various medical applications.
Medical Resins and Fibers
Polyvinyl chloride (PVC)
Polypropylene (PP)
Polyethylene (PE)
Polystyrene (PS)
Others (Engineering thermoplastics such as ABS, PC, PET)
Medical Elastomers
Styrene Block Copolymer (SBC)
Rubber latex
Others (TPU, TPV, TPO)
Medical Polymers Market: Application Analysis
Medical Devices and Equipment
Medical Packaging
Others (Tissue engineering, cardio stents)
The report provides a cross-sectional analysis of all the above product segments with respect to the following regions:
North America
Europe
Asia Pacific
Rest of the World (RoW)
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