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Medical Polymers Market Overview
Polymers are materials consisting of repetitive units of monomers that are bound together by strong covalent bonds. They are ubiquitous in our daily lives due to their favorable characteristics. Polymers can be divided into various categories, based on their backbone chain, degradation ability, molecular forces, source of origin, structure of monomer chain and morphology.
The global medical polymers market size is estimated to grow from USD 20.80 billion in 2024 to USD 46 billion by 2035, representing a CAGR of 7.3% during the forecast period 2024-2035.
Medical Polymers Market Segmentation
Medical Polymers Market focuses on Distribution by Type of Polymer (Thermoplastic Polymers, Elastomers, Thermoset Polymers and Others), Area of Application (Medical Devices, Excipients, Packaging, Others) and Key Geographical Regions (North America, Europe, Asia-Pacific, Latin America, Middle East and North Africa, Rest of the World).
The pharmaceutical polymers / medical polymers market is highly fragmented, featuring the presence of established companies, as well as emerging start-ups. Around 35% of the companies engaged in this domain are headquartered in Asia-Pacific; of these, majority are mid-sized players (53%), followed by small firms (27%). Presently, around 85 companies engaged in this domain manufacture synthetic polymers; this can be attributed to the several benefits offered by them, including resistance to chemicals, high flexibility, reasonable strength and versatility. Further, majority (75%) of the players manufacture thermoplastic polymers for the pharmaceutical / medical domain.
Medical Polymers Market Key Companies
Examples of key medical polymer companies include Americhem, Borealis, Celanese, Corel Pharma Chem, Eastman, Henkel, KRAIBURG TPE, Kuraray, Lubrizol Life Science, LyondellBasell, Phon Tech, SEQENS, Sumitomo Chemical, Solvay and Zylog ElastoComp.
In pursuit of building a competitive edge, stakeholders are actively upgrading their existing capabilities to enhance their manufacturing capabilities and comply with the evolving industry benchmarks.
The increasing traction in the field of Pharmaceutical Polymers / Medical Polymers is evident from number of partnerships inked between stakeholder companies in the recent past. The maximum number of partnerships in the pharmaceutical / medical polymers domain were recorded 12 each in 2020 and 2022 . Product development agreements emerged as a prominent type of partnership model being adopted by stakeholders engaged in this domain. In terms of intercontinental collaborations, maximum number of deals (23%) were signed between companies based in Europe and North America. Further, the maximum number of local as well as international agreements have been signed by companies based in the US.
DELT analysis is an analytical framework that is used to evaluate the environment in which an organization operates / wishes to enter. The analysis is used to review strategic planning processes which can aid the organization to mitigate the upcoming risks. In addition, the analysis can be deployed to invent strategies that can influence financing decisions in order to increase profitability. The primary purpose of this analysis is to develop a better understanding of the offerings of different pharmaceutical polymer / medical polymer manufacturers and establish an understanding of the current industry benchmark.
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