Global Medical Elastomers Market is expected to foresee significant growth. Asia Pacific is expected to lead the growth!
- Himanshu Patni
- November 19, 2022
- Medical Elastomers Market, Medical Elastomers Market Analysis, Medical Elastomers Market growth, Medical Elastomers Market Share, Medical Elastomers Market Size, Medical Elastomers Market Trends
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The Global Medical Elastomers Market is expected to register a CAGR of around 7% throughout 2021-2027. Medical grade elastomers are polymers with elastic characteristics that are essential in the production of medical equipment. These elastomers meet worldwide regulatory criteria and are particularly intended to be bio-compatible, i.e. useable in the healthcare industry. Since medical elastomers are durable, flexible, gentle to the touch, and safe for skin contact, they have a wide range of applications and are widely used in IV solution bags, tubes & syringes, and cardiac & orthodontic implants. Moreover, according to WHO, an estimated 17.9 million people died from CVDs in 2019, representing 32% of all global deaths. Of these deaths, 85% were due to heart attack and stroke. Heart failure and other coronary artery problems are treated using cardiovascular implants. The high likelihood of heart disease as a result of changed food habits, sedentary lifestyles, and an aging population has created a global need for cardiovascular implants. Owing to these glaring facts, there is a surge in demand for cardiovascular devices which in turn is also positively influencing the market for medical elastomers as various elastomers are used in different cardiovascular devices.
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Based on type, the market is classified into thermoset and thermoplastic. Thermosets do not melt upon heating. While thermoplastic has low-melting-point and is best suited for applications that use recycled material. The enormous potential is observed for thermoplastics because of their re-molding ability and a growth in demand for catheters, tubes, and medical bags as recycling and sustainability become more popular.
Based on application, the market is categorized into medical tubes, catheters, gloves, syringes, medical bags, implants, and face masks. The medical tubes category held the major share of this market in 2020 due to the growing use of medical tubes in the diagnosis and treatment of diseases.
For a better understanding of the market adoption of the medical elastomer industry, the market is analyzed based on its worldwide presence in the countries such as North America (US, Canada, Rest of North America); Europe (Germany, France, UK, Italy, and Rest of Europe); Asia-Pacific (China, India, Japan, Rest of Asia-Pacific), and Rest of World. Asia-Pacific is expected to show the highest CAGR growth in the medical elastomers market. The major contributors to the growth of this market are China and India. Additionally, growing private and public sector expenditures to strengthen healthcare infrastructure across nations are predicted to raise demand for medical devices, supporting the region’s medical elastomers market expansion. However, biocompatibility concerns about some elastomers, along with tight regulatory regulations throughout the world, may hamper the growth of the medical elastomers market during the projection period.
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Some of the major players operating in the market include BASF SE, DowDuPont, Eastman Chemical Company, Royal DSM, Solvay S.A., Trelleborg AB, Kuraray Co., Ltd., Teknor Apex, Momentive Performance Materials Inc., and Celanese Corporation. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Global medical elastomers market segmentation
Market Insight, by Type
Market Insight, by Application
- Medical tubes
- Medical bags
- Face masks
Market Insight, by region
- North America
- Rest of World
Top Company Profiles
- BASF SE
- Eastman Chemical Company
- Royal DSM
- Solvay S.A.
- Trelleborg AB
- Kuraray Co., Ltd.
- Teknor Apex
- Momentive Performance Materials Inc.
- Celanese Corporation