With good performance in medical field, the globe market of polymer is expected to grow by 8.4% mainly in medical devices and packaging in a 6-year period from 2014-2020. Then the total value will reach $17 billion, according to the market analysis.
In the past year of 2014, the increase was as expected and Asian medical market emerged to be one of the leading consuming markets of polymer equipment and devices as the demand for higher performance both in quality and degradability is increasing in Asia. Besides the global trend of replacing the traditional material of medical equipment with polymer is going wider and deeper.
In 2014, the consumption of polypropylene and polyvinyl chloride(PVC) doubled in Asian market, and the trend will go on as there is an increase in the demand of such medical equipment and devices. Besides with the speed up of aging, the demand will be further enlarged.
Biocide property, being lighter, cheaper and portable are the main benefits that medical equipment can get from polymer material, which will drive a wide range of substitution. And another large consumption for polymer appears in medical packaging. For the high thermal and mechanical properties, pharmaceutical packaging made of polymer material will increase by about 6% in the same period from 2014 to 2020, along with which, the degradable character of PVC, PE and PP material will expand the demand.
In 2013, about 40% market share of polymer laid in United States where a high requirement on quality and advancement is placed on medical equipment. And the need will continue to increase in American market, whilst a similar situation will also be presented in other markets with the same driven factor.
Before 2014, key suppliers in the field like Dow Chemical Company, Celanese, and Eastman Chemical Company took up majority of the market share by new product developing and acquisition or merge. In the ongoing period, more companies will join to share the pie of polymer market, which will spur a competition and higher quality in related products.
The analysis provides chemical companies a blue print in this field. Small companies can find opportunities in the market and make reasonable arrangement in marketing strategy if they have a mature product line in polymer and its affiliate products.
The report is titled “Medical Polymers Market Analysis By Product (Resins & Fibers, Elastomers, Biodegradable Plastics), By Application (Devices and Equipments, Packaging) and Segment Forecasts To 2020”, and is available at Grand View Search.