PUBLISHER: The Business Research Company | PRODUCT CODE: 1668390
PUBLISHER: The Business Research Company | PRODUCT CODE: 1668390
A medical polymer is a chemical substance characterized by molecules linked in extended, repetitive chains. Their unique properties make them adaptable for a variety of medical applications. These polymers are tailored to meet the specific requirements of the healthcare industry, including attributes such as biocompatibility, stability, and resistance to various environmental factors.
The main products within the category of medical polymers include fibers and resins, medical elastomers, biodegradable polymers, and others. Fibers consist of chemically stable polymers arranged in a sequence of monomers. They find applications in various areas, including medical components, orthopedic soft goods, wound care, cleanroom supplies, biopharma devices, and more. These products are utilized across different end-user industries, including hospitals and clinics, ambulatory surgical centers, research and academic institutes, and others.
The medical polymers market research report is one of a series of new reports from The Business Research Company that provides medical polymers market statistics, including medical polymers industry global market size, regional shares, competitors with a medical polymers market share, detailed medical polymers market segments, market trends and opportunities, and any further data you may need to thrive in the medical polymers industry. The medical polymers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The medical polymers market size has grown strongly in recent years. It will grow from$24.37 billion in 2024 to $26.69 billion in 2025 at a compound annual growth rate (CAGR) of 9.5%. The growth in the historic period can be attributed to rise in minimally invasive procedures, advancements in surgical techniques, increased aging population, focus on infection prevention, expanding applications in drug delivery
The medical polymers market size is expected to see rapid growth in the next few years. It will grow to $40.81 billion in 2029 at a compound annual growth rate (CAGR) of 11.2%. The growth in the forecast period can be attributed to increasing demand for biocompatible materials, rapid expansion of healthcare infrastructure, shift towards home healthcare, focus on sustainable and eco-friendly materials, technological integration in healthcare, rising incidence of chronic diseases. Major trends in the forecast period include recyclable and sustainable polymers, personalized implantable polymers, collaboration for polymer research, polymer coatings for medical devices, polymeric materials in wearable medical devices.
The anticipated increase in demand for medical devices is expected to drive the growth of the medical polymer market in the coming years. Medical devices encompass a wide range of products, including instruments, apparatuses, machines, appliances, implants, and materials designed for medical applications. Medical polymers are crucial for the development and manufacturing of these devices due to their lightweight and cost-effective properties. For example, in July 2024, MedTech Europe, a Belgium-based organization focused on medical equipment manufacturing, reported that the growth rate of the European medical devices sector reached 11.4% in 2022, a notable increase from 2.9% in 2021. Consequently, the rising demand for medical devices is a significant driver of the medical polymer market's growth.
The growing prevalence of chronic diseases is expected to further accelerate the growth of the medical polymer market. Chronic diseases are defined as health conditions that persist for a year or more and require ongoing medical care or significantly impact daily activities. Examples include heart disease, cancer, obesity, and diabetes. Medical polymers are utilized in treating chronic diseases through the production of implants, drug delivery systems, and durable medical devices, thanks to their biocompatibility and long-term stability, which enhance treatment effectiveness and patient quality of life. For instance, the National Center for Biotechnology Information (NCBI) projects that by 2050, the number of individuals aged 50 and older with at least one chronic condition will increase by 99.5%, rising from 71.522 million in 2020 to 142.66 million. Thus, the rising prevalence of chronic diseases is propelling the growth of the medical polymer market.
Innovation in medical polymer materials is a prominent trend in the medical polymer market. Companies in this sector are actively developing innovative materials to maintain their competitive edge. For example, in September 2024, Americhem Inc., a US-based plastics manufacturing firm, introduced its ColorRx Medical Grade Polymers product line. This launch responds to the evolving demands of the European healthcare market by providing reliable, high-quality, and sustainable polymer solutions. The initiative addresses the increasing need for premium polymer materials in medical devices, enabling clients to create cutting-edge products that meet the strict requirements of medical settings, including precise material selection, custom compound design, and consistent color throughout production.
Major players in the medical polymer market are also focused on creating advanced polyolefin material solutions to improve the performance, safety, and biocompatibility of medical devices. These advanced polyolefin solutions are innovative products derived from polyethylene or polypropylene materials, offering superior performance and versatility across various industries. For instance, in May 2022, Avient Corporation, a US-based provider of specialized and sustainable material solutions, launched new bio-based Mevopur medical-grade polymer solutions. These new offerings, which include color and additive concentrates as well as ready-to-use formulations made with bio-based polycarbonate, ABS, or styrenic polymers, can assist pharmaceutical packaging manufacturers and medical device producers in reducing their carbon footprint.
In April 2023, Formerra, a US-based distributor of performance materials, acquired Total Polymer Solutions (TPS) for an undisclosed sum. This acquisition aims to bolster Formerra's position in the healthcare market. Additionally, the merger will enhance the company's ability to serve European customers more effectively, leveraging TPS's streamlined supply chain management and quicker go-to-market capabilities. Total Polymer Solutions is known for manufacturing custom injection molded plastics.
Major companies operating in the medical polymers market include Arkema S.A., BASF SE, Celanese Corporation, Covestro AG, Eastman Chemical Company, Evonik Industries AG, Exxon Mobil Corporation, Formosa Plastics Corporation, Foryou Medical, Kraton Corporation, Saudi Basic Industries Corporation, Solvay SA, Dow Inc., Koninklijke DSM N.V., Lubrizol Corporation, NatureWorks LLC, Trinseo plc, Bayer AG, China Petroleum & Chemical Corporation, PolyOne Corporation, Huntsman Corporation, Americhem Inc., Borealis AG, Corel Pharma Chem Private Limited, Henkel AG & Co. KGaA, Kuraray Co. Ltd., LyondellBasell Industries Holdings B.V., Sumitomo Chemical Co. Ltd., KRAIBURG TPE GmbH & Co. KG, Lakril Technologies
North America was the largest region in the medical polymers market in 2024. Asia-Pacific is expected to be the fastest-growing region in the global medical polymers market report during the forecast period. The regions covered in the medical polymers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the medical polymers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The medical polymer market consists of sales of packaging materials, medical devices, implantable materials, and drug delivery systems. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Medical Polymers Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on medical polymers market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for medical polymers ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The medical polymers market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.