Medical Polymers Market Size, Product Launch, Major Companies, Revenue Analysis, Till 2035

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.

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.

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. Further, polymers are being employed in the pharmaceutical / medical sector for a myriad of applications, such as pharmaceutical excipients, medical devices (components and coatings), packaging systems for medications, tissue engineering and 3D printing.

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).

Stakeholders are actively upgrading their existing capabilities to enhance their manufacturing capabilities and comply with the evolving industry benchmarks in Medical Polymers Market focused on several relevant parameters, such as, considering company's size and overall experience in the industry and source of polymer, number of type of polymer, biodegradability of polymer and number of application areas.

Within North America, pharmaceutical polymer / medical polymer manufacturers that have received a higher score include (arranged in decreasing order of competitiveness score) JenKem Technology, Kraton, NOF America, Poly-Med, Polyzen and Trinseo. Amongst these players, Jenkem Technology manufactures multiple compositions of pharmaceutical polymers / medical polymers, including amino-based polymer (poly-lysines), polyester (polycaprolactone, polyglycolide / polyglycolic acid, polylactic acid, poly(lactic-co-glycolic acid) and polyether (polyethylene glycol (PEG)). It is worth mentioning that the company manufactures high quality activated PEG polymers, PEG co-polymers and monodisperse PEGs, from laboratory to commercial scale, under ISO 9001 and ISO 13485 certified quality management system. Further, Kraton claims to manufacture thermoplastic polymers as well as elastomers; specifically, the styrenic block copolymers manufactured by the firm offer improved processability and flexibility and are environment friendly and recyclable.

Driven by the ongoing pace of efforts for the development of novel and economical medical-grade polymers, the market is anticipated to witness a steady growth in the coming decade. Our estimates suggest that, in 2023, the maximum revenue generated in this domain is likely to be driven by thermoplastic polymers; this trend is unlikely to change in the foreseen future as well.

Presently, 48% of the sales revenues is generated by polymers being used in the development of medical devices, followed by 23% by polymers being used as excipients in drug formulations. It is worth mentioning that, in 2023, North America and Europe are likely to capture around 80% of the overall share in this domain. Further, the market in Asia-Pacific is anticipated to grow at a relatively faster pace (9.2%), during the given period.

Medical Polymers Market Leading 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.

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