Worldwide Medical Polymer Market to 2020 – Industry Survey, Market Size, Competitive Trends: Grand View Research, inc
The global market for medical polymers is expected to reach USD 17.05 billion by 2020, according to a new study by Grand View Research, Inc. Increasing substitution of conventional materials such as glass and metals in medical devices by high performance polymers such as PVC and polypropylene coupled with growing demand for medical devices from the fast developing Asian healthcare market is expected to drive medical polymer demand over the next six years. In addition, growing geriatric population is expected to further boost the demand for polymer based devices in minimally invasive surgeries resulting in increased demand for medical polymers.
Devices and equipments were the largest application markets, accounting for over 2,000 kilo tons of medical polymer demand in 2013. Growing medical tourism due to low cost labor and advanced facilitates in emerging healthcare destinations of India, China, Malaysia and Singapore is expected to have positive impact on the market over the forecast period. Medical polymers are also extensively used in medical packaging applications owing to its superior properties and accounted for 2,271.3 kilo tons of demand in 2013.
The report “Medical Polymers Market Analysis By Product (Resins & Fibers, Elastomers, Biodegradable Plastics), By Application (Devices and Equipments, Packaging) and Segment Forecasts To 2020,” is available now to Grand View Research customers and can also be purchased directly at http://www.grandviewresearch.com/industry-analysis/medical-polymers-market
Further key findings from the study suggest:
• Medical polymer demand was 4,901.1 kilo tons in 2013 and is expected to reach 7,149.8 kilo tons by 2020, growing at a CAGR of 5.6% from 2014 to 2020.
• Fibers & resins were the largest product segment, with demand of 4,254.4 kilo tons in 2013 due to substitution of traditional materials used in devices, equipment and packaging by fibers and resins such as polyvinyl chloride, polypropylene, polyurethane and
Devices and equipments were the largest application markets, accounting for over 2,000 kilo tons of medical polymer demand in 2013. Growing medical tourism due to low cost labor and advanced facilitates in emerging healthcare destinations of India, China, Malaysia and Singapore is expected to have positive impact on the market over the forecast period. Medical polymers are also extensively used in medical packaging applications owing to its superior properties and accounted for 2,271.3 kilo tons of demand in 2013.
The report “Medical Polymers Market Analysis By Product (Resins & Fibers, Elastomers, Biodegradable Plastics), By Application (Devices and Equipments, Packaging) and Segment Forecasts To 2020,” is available now to Grand View Research customers and can also be purchased directly at http://www.grandviewresearch.com/industry-analysis/medical-polymers-market
Further key findings from the study suggest:
• Medical polymer demand was 4,901.1 kilo tons in 2013 and is expected to reach 7,149.8 kilo tons by 2020, growing at a CAGR of 5.6% from 2014 to 2020.
• Fibers & resins were the largest product segment, with demand of 4,254.4 kilo tons in 2013 due to substitution of traditional materials used in devices, equipment and packaging by fibers and resins such as polyvinyl chloride, polypropylene, polyurethane and