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Medical Polymers Market

Polypropylene to Hold Exclusive Dominance in Medical Polymers on Back of Production Feasibility and Downstream Formability, Opines Fact.MR

Published : 27 Oct 2021 Industry: Chemical & Materials

As per a new Fact.MR study on medical polymers, the global market is anticipated to surpass a valuation of US$ 9.1 Bn in 2021, expanding at a high CAGR of 8.2% over the forecast period of 2021-2031.

According to Fact.MR, a market research and competitive intelligence provider, over the past-half decade, the price of medical propylene has surged at a rapid rate as compared to conventional commodity polypropylene. This is primarily due to exclusive demand for medical polypropylene from the healthcare sector coupled with inelasticity of demand.

Of the engineering thermoplastics and commodity medical polymers, the latter holds dominance in healthcare devices and pharmaceutical packaging.  This is primarily due to ease of production of commodity medical polymers over engineering thermoplastics.

Apart from production feasibility, formability also plays a prime role in driving the sales of commodity medical polymers. Moreover, lower cost of polymer processing and integration have also the paved way for commodity polymers, especially polypropylene.

Key Takeaways from Market Study

  • The medical polymers market is estimated to expand 2.2X its current market value by 2031.
  • Polypropylene dominated the demand pie of commodity polymers with nearly 53% market share in 2020, and is anticipated to gain 30 BPS by 2031-end.
  • Medical device application growth is set to be at 6.9% CAGR over the period of 2021-2031, and is set to remain the most prominent application among all other segments.
  • Top 5 players capture nearly 25% of medical polymer sales across the globe.

“Inelastic nature of market to provide bundle of opportunities for manufacturers to cash-in on,” says a Fact.MR analyst.

Medical Polymers: Price Build-up Analysis

Despite high price points and moderate cost of production, manufacturers and distributors control the inventory storage of commodity as well as engineering thermoplastics. This control of storage volume is primarily due to huge cost associated with inventory maintenance and hold up stock, which eventually affects the margins of distributors.

Price build-up is assessed at each and every node, which provides an image of moderate margins for medical grade polymers, owing to extensive cost of inventory storage and moderate to low demand speculation over the product produced.

More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global medical polymers market, presenting historical market data (2016-2020) and forecast statistics for the period of 2021-2031.

The study reveals essential insights on the basis of by polymer material (commodity polymers (polypropylene, polyvinyl chloride, polyethylene (LDPE, HDPE, LLDPE), polyesters, engineering thermoplastics (polyvinyl pyrrolidone (PVP), PEEK, and polycarbonate, others), by application (packaging(injections, medical bags, medical tube, pharmaceutical blisters and trays, microplates, vials, blister packs, others), Implants (breast implants, orthopedic implants, spinal implants, others), medical wear(gloves, face shields, masks & gowns, others), medical devices (pacemaker, dental & orthodontic devices, catheters, contact lenses, others), by processing method(blow fill seal,  injection stretch blow molding, extrusion blow molding, others) and key regions (North America, Latin America, Europe, East Asia, South Asia and Oceania, and the Middle East & Africa).

About the Chemicals and Materials Division at Fact.MR

Expert analysis, actionable insights, and strategic recommendations of the highly seasoned chemicals and materials team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million-plus data points, the team has analysed the chemicals and materials industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.

For more information, refer to our market research report or contact the PR author.

Yash Pathak

Fact.MR

Client Research Partner – Chemicals and Materials

E-mail: yash@factmr.com       

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Medical Polymers Market is Expected to Witness Proliferating Demand for Medical Grade Polypropylene during 2021-2031