Medical polymers are biocompatible in nature and either remain inert or are easily processed by the human body.
Medical polymers market are chemical compounds either single or mixture formed with the polymerization reaction. These materials are primarily used for the manufacturing of medical implants, devices, disposables, and packaging.
The medical polymers market is highly regulated and the landscape facilitates growth opportunities for the manufacturers. Government regulations play a major role in the development of medical polymer market.
The initiatives taken by the government facilitates the growth of the medical polymer market. In the recent years, wide variety of medical polymers have been approved in the U.S.
(FDA approval), Europe (CE mark approval), and few parts of Asia as well (MHLW approval). Medical polymers require a pre-market approval and are classified under class I (includes surgical instruments), class II (includes medical instruments), class III (includes implants), and class IV (includes pacemakers) devices.
Regulatory agencies are highly concerned about the safety and efficacy of all classes and take their screening procedures at length. The stringency of these procedures therefore not only delays the launch of a device that can be highly beneficial, but also increases the expenses incurred by the manufacturers to meet the regulatory policies proposed by agencies such as the FDA and CE.
Medical polymers are classified broadly into resins, elastomers, and biodegradable plastics. Key resins that are widely utilized include polyvinyl chloride (PVC), polypropylene (PP), polyethylene (PE), polystyrene (PS), polycarbonate (PC), polyetheretherketones (PEEK), hydrogel (acrylate), acrylonitrile butadiene styrene (ABS), polymethyl methacrylate (PMMA), and polyethylene terephthalate (PET).
Major elastomers employed in the medical industry include styrenic block copolymer (SBC), rubber latex thermoplastics polyurethane (TPU), and thermoplastics olefins (TPO). Frequently used biodegradable plastics include polylactic acid (PLA) and polyglycolic acid (PGA).
The market for medical polymers market is largely fragmented and comprises major industry participants such as Arkema SA, BASF SE, Covestro AG, DSM N.V., Eastman Chemical Company, Evonik Industries AG, and Solvay S.A. The market dominance of these companies is characterized by their vast product portfolio for medical polymers, high investment in R&D, and strong distribution network.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides an extensive analysis of the current and emerging market trends and dynamics in the world medical polymers market.
- Geographically, the medical polymers market is analyzed based on various regions such as North America, Europe, Asia-Pacific, and LAMEA. It also includes country analysis of major countries in each geographic region.
- This study evaluates competitive landscape and value chain to interpret the competitive environment across various geographies.
- Comprehensive analysis of factors that drive and restrict the growth of the world medical polymers market is provided.
- Exhaustive analysis of the world medical polymers market by type predicts the major material used currently along with the ones that would gain prominence in the future.
- Extensive analysis of the market is conducted by following key product positioning and monitoring the top competitors within the framework.
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