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Medical Polymers Market

Medical Polymers Market

Medical Polymers Market - Global Industry Assessment & Forecast

Number Of Pages # Pages:


Base Year:



Jan - 2022



Report Code:


Segments Covered
  • By Product By Product Medical resins & fibers, Medical elastomers, Biodegradable plastics
  • By Application By Application Medical equipment & devices, Medical packaging, Others
  • By Region By Region North America, Europe, Asia-Pacific, Latin America, Middle East & Africa
Base YearBase Year: 2022
Forecast YearsForecast Years: 2023 - 2030
Historical YearsHistorical Years: 2017 - 2021
Revenue 2022Revenue 2022: USD 17.44 Billion
Revenue 2030Revenue 2030: USD 34.73 Billion
Revenue CAGRRevenue CAGR (2023 - 2030): 9.00%
Fastest Growing Region Fastest Growing Region (2023 - 2030) Asia Pacific
Largest Region Largest Region (2022): North America
Customization Offered
  • Cross-segment Market Size and Analysis for Mentioned Segments Cross-segment Market Size and Analysis for Mentioned Segments
  • Additional Company Profiles (Upto 5 With No Cost) Additional Company Profiles (Upto 5 With No Cost)
  • Additional Countries (Apart From Mentioned Countries) Additional Countries (Apart From Mentioned Countries)
  • Country/Region-specific Report Country/Region-specific Report
  • Go To Market Strategy Go To Market Strategy
  • Region Specific Market Dynamics Region Specific Market Dynamics
  • Region Level Market Share Region Level Market Share
  • Import Export Analysis Import Export Analysis
  • Production Analysis Production Analysis
  • Other Others Request Customization Speak To Analyst
Medical Polymers Market Share

Market Synopsis:

Global Medical Polymers market is valued at USD 17.44 Billion in 2022 and is estimated to reach a value of USD 34.73 Billion by 2030 at a CAGR of 9.00% during the forecast period. Medical Polymers are predicted to see increased demand in the manufacturing of medical devices and equipment, as well as medical packaging. Medical Polymers, often known as medical-grade polymers, are synthetic materials classified as elastomers, fibers, and resins. Medical Polymers are used in medical plastics, medical equipment, and packaging as additives and fillers. Due to the increased demand to combat the COVID-19 pandemic situation around the world, demand is likely to rise. The market is expected to be positively influenced by the increased demand for medical packaging goods for COVID-19. North America is projected to lead the expanding demand because the region includes big healthcare product manufacturers.

Key businesses in the industry are known for their substantial integration at various levels of the value chain. The companies sell their products through dedicated supply networks and offer tailored items based on the application for which they will be utilized. Multiple technological breakthroughs in the production of sophisticated polymers for usage in the healthcare business are affecting the industry. Companies in the market rely on new product development as one of their primary tactics for achieving market expansion, as well as the creation of plastic-based composite materials. Vertical integration across the value chain is also being used by market players to reduce production costs and boost profit margins.

Medical tubes have shrunk in size and thickness as they have become more popular in procedures like angioplasty, endoscopy, and drug delivery. Microtubes are an essential component of surgical tools and suction and fluid delivery devices that operate on the patient's organs and tissues. The medical tubing market is projected to continue very competitively in the future, as businesses in this sector are under enormous pressure to provide high-quality products.

Medical Polymers Market Size, 2022 To 2030 (USD Billion)

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Market Segmentation:

The global Medical Polymers market is segmented on the basis of Product(Medical resins & fibers,Medical elastomers,Biodegradable plastics),Application(Medical equipment & devices,Medical packaging,Others),Region(North America,Europe,Asia-Pacific,Latin America,Middle East & Africa). Based on product, the market is segmented as Medical Resins & Fibres Which Is Further Bifurcated As (Polyvinyl Chloride, Polypropylene, Polyethylene, Polystyrene, Others), Medical Elastomers As (Styrene Block Co-Polymer, Rubber Latex, Others) and Biodegradable Plastics. By application, the market is segmented as Medical equipment & devices, Medical packaging and Others.

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Medical devices are increasingly made of polymers, such as fibers and resins, biodegradable plastics, and elastomers. The surge in demand for medical devices has been fuelled by the growth of the home healthcare industry, which is cheaper than hospital and intensive care. The availability, awareness, price, and adaptability of medical equipment are all major elements influencing the market. As manufacturing operations increase in emerging economies, such as India, medical device sales are likely to skyrocket. The growing desire for better health care facilities, as well as an increase in the number of hospitals, has aided the growth of the medical device industry, driving demand for medical polymers.

In terms of Medical Polymers applications, medical packaging is the second-fastest-growing area. Designing packaging systems for blood bags, oral solids and liquids, syringes, and surgical tools is part of medical packaging. Designing catheters and surgical gloves, which require Medical Polymers due to their flexibility, is also part of pharmaceutical packaging. During the projected period, rising demand for these goods is likely to increase demand for Medical Polymers.

Extensive Properties And Low Cost As Compared To Alternatives Are Expected To Drive Growth Of The Medical Polymers Market

Polymers have gained traction in the medical field during the last decade, thanks to the development of engineering plastics such as PMMA, PEEK, ABS, and PET. These plastics are suitable for use in medical devices and appliances and meet the necessary safety standards. Furthermore, medical polymers are less expensive than alternatives like glass, ceramics, and metals. Engineering plastics used as medical polymers can rival metals and ceramics in structural strength, stability, inertness, durability, and formability while being lighter and more resource-efficient. Due to their lightweight, cheap cost, durability, and transparency, medical polymers are also utilized for packaging. As a result of the numerous advantages offered by medical polymers, their demand in the medical sector is increasing, supporting the expansion of the medical polymer market.

Encouraging Investment in R&D Are Expected To Drive Growth Of The Medical Polymers Market

The varying price trends of raw materials, which fluctuate due to volatile energy prices, are a major problem for the worldwide medical polymer industry. According to BP data, the average oil price rose to $71/bbl in 2018 from $54/bbl in 2017. As a result, the global medical polymers market is hampered by shifting oil costs. Furthermore, rigorous regulations set by various medical agencies regarding product quality and costs may stifle the expansion of the medical polymers market in the future years.

Patients' growing preference for homecare health treatment, which is both cost-effective and convenient, has resulted in increased demand for medical disposables around the world. Over the forecasted timeframe, this will effectively contribute to achieving a higher market share.

Significant investments and time required for product development

The fabrication of Medical Polymers necessitates a significant financial investment as well as a significant amount of time. Delays in regulatory approvals lengthen the total development process, resulting in a drop in medical product development technology investment. To minimize technical and biocompatibility concerns, which incur additional costs and time, the market is undergoing continual product innovation. Selecting the best polymer for a specific medical application and examining the application areas for each polymer in medical tubing, for example, is critical and necessitates extensive R&D and technical knowledge. Distinct polymers and medical devices have different approval processes, which can take a long period. FDA regulations, for example, are likely to become more intricate and expensive in the future, thereby lengthening the time it takes to approve medical devices.

North America Medical Polymers Market to Grow at the Fastest CAGR

In terms of production and consumption, North America is the largest market for Medical Polymers. The increase of the medical device manufacturing industry as a result of the growing need for better healthcare facilities, the rise of the home health care devices market, and the aging population have all contributed to the regional market's enormous growth. Because of developments in medical technology and an increase in demand for more sophisticated medical instruments, the US accounts for the majority of regional demand and is a key consumer of medical polymers.

Emerging nations, such as India and China, are likely to see significant growth in medical devices as a result of increased knowledge of the advantages of medical polymers over their traditional equivalents, as well as an increase in home healthcare equipment in the region. The Chinese government's increasing expenditure in research and development for the production of medical polymers has also contributed to the region's growth in demand.

Competitive Landscape

Some of the major vendors in the Medical Polymers market are Evonik Industries AG, DSM N.V., BASF SE, Celanese Corporation, Eastman Chemical, Exxon Mobil Corporation, Kraton Performance Polymers Inc., Formosa Plastics Corporation

The Medical Polymers is Segmented as Follows:

Parameter Details
Segments Covered

By Product

  • Medical resins & fibers
  • Medical elastomers
  • Biodegradable plastics

By Application

  • Medical equipment & devices
  • Medical packaging
  • Others

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa

Regions & Countries Covered
  • North America - (U.S., Canada, Mexico)
  • Europe - (U.K., France, Germany, Italy, Spain, Rest Of Europe)
  • Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)
  • Latin America - (Brazil, Argentina, Rest Of Latin America)
  • Middle East & Africa - (GCC Countries, South Africa, Rest Of Middle East & Africa)
Companies Covered
  • Evonik Industries AG
  • DSM N.V.
  • Celanese Corporation
  • Eastman Chemical
  • Exxon Mobil Corporation
  • Kraton Performance Polymers Inc.
  • Formosa Plastics Corporation
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis
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Frequently Asked Question
  • The global Medical Polymers valued at USD 17.44 Billion in 2022 and is expected to reach USD 34.73 Billion in 2030 growing at a CAGR of 9.00%.

  • The prominent players in the market are Evonik Industries AG, DSM N.V., BASF SE, Celanese Corporation, Eastman Chemical, Exxon Mobil Corporation, Kraton Performance Polymers Inc., Formosa Plastics Corporation.

  • The market is project to grow at a CAGR of 9.00% between 2023 and 2030.

  • The driving factors of the Medical Polymers include

    • Extensive properties and low cost as compared to alternatives

  • North America was the leading regional segment of the Medical Polymers in 2022.