Global Medical Polymer Market worth $37.39 billion by 2030
According to a research report published by Spherical Insights & Consulting, the Global Medical Polymer Market Size to grow from USD 18.4 billion in 2021 to USD 37.39 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 8.2% during the forecast period. Medical-grade polymers are expected to be in high demand due to factors like rising medical sector demand. Polymers are divided into synthetic and natural polymers based on the raw materials used. Wood, bio-based polymers, and natural rubber are naturally occurring polymers. Conversely, thermoset and thermoplastic resins, elastomers, and fibres are examples of manufactured polymers.
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Browse key industry insights spread across 209 pages with 129 market data tables and figures & charts from the report “Global Medical Polymer Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Resins, Biodegradable Polymers, Medical Elastomers, Fibers and Others) By Application (Tooth Implants, Mobility Aids, Cleanroom Supplies, Wound Care, BioPharma Devices, Medical Components, Dental Implants and Others) and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa) Analysis and Forecast 2021 – 2030.“ in detail along with the table of contents. https://www.sphericalinsights.com/reports/medical-polymer-market
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On credit portfolios, the COVID-19 epidemic has had a negative effect. The enormous growth has hampered the solvency of customers and business in unemployment and interruption of economic activity. Central banks have adopted a proactive strategy of injecting money into the market by decreasing interest rates and implementing asset purchase programmes. With persistent geopolitical tensions, global trade battles, and sporadic hurricanes and earthquakes, managing and monitoring credit, market, liquidity, and operational risk across financial markets was challenging enough. Chief risk officers and their teams have had to reevaluate outdated methods and assumptions used to manage and monitor risk due to the present pandemic crisis. The global repercussions of COVID-19 have demonstrated the significance of interconnection in international cooperation. As a result, many governments have been hurrying to find, assess, and buy trustworthy AI-powered solutions.
The resins segment to account for the largest market size during the forecast period
Based on product type, the medical polymer market is categorized into resins, biodegradable polymers, medical elastomers, fibers and others. The resins segment to account for the largest market size during the forecast period. The increased demand for resins is due to their toughness, strength, optical clarity etc. The resin segment can replace the metal and glass devices used in the medical field due to its outstanding properties.
The wound care segment to hold a higher CAGR during the forecast period.
Based on application, the medical polymer market is categorized into tooth implants, mobility aids, cleanroom supplies, wound care, biopharma devices, medical components, dental implants and others. The wound care segment to hold a higher CAGR during the forecast period. The demand for wound care segments is increasing because chronic wounds are becoming more prevalent with age, diabetes is becoming more prevalent, and the geriatric population is growing which is triggering the growth of the wound care sector and ultimately contributing a large share in the growth of the medical polymer market.
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North America is estimated to account for the highest market share in 2022.
The Global Medical Polymer Market has been segmented into five major regions: North America, Europe, Asia-Pacific, South America, The Middle East and Africa. North America is expected to be the largest market. The increasing demand for packaging in the pharmaceutical sector is responsible for the abrupt growth of the medical polymer market. Asia Pacific to hold a higher CAGR during the forecast period.
Major Global Medical Polymer Market vendors include Evonik Industries AG, Huizhou Foryou Medical Devices Co. Ltd., Nature Works LLC, SIBUR, INEOS, LG Chem, Dow Inc., Arkema, Exxon Mobil Corporation, Eastman Chemical Corporation, Lotte Chemical Corporation, Total Plastics, and Hyosung Corporation.
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