Medical Polymers Market 2017 – 2024; Pharmaceutical industry to drive demand

Medical polymers market is poised to exceed a revenue of 24 billion by 2024, at an annual growth projection of 9% over the period of 2016-2024.

Medical polymers market is witnessing a strong momentum in healthcare sector with the increasing demand for upgraded pharmaceutical devices across the patient base. Growing prevalence of cardiac diseases, especially across geriatric population along with rising deployment of technologically progressed medical treatments is spurring the market demand.

As mentioned above, Global pharmaceutical device market which leaves a linear influence on medical polymers demand is expected to magnify at a speedy rate of 6% in the years ahead. U.S held 45% share of the global pharmaceutical device market in 2015 and is anticipated to be one of the most lucrative zones partaking in medical polymers industry growth.

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U.S. Medical Polymers Market size, by product, 2013 - 2024 (USD Million)

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  1. Medical Polymers Market size & forecast by product & application
  2. Growth drivers, pitfalls & industry challenges
  3. Key Medical Polymers Market growth opportunities & emerging business models
  4. Competitive benchmarking with market share analysis and company profiles

Biodegradable medical plastics, medical fibers &resins, and medical elastomers are the three categories of product prevalent in the industry. Biodegradable plastics medical polymer market will observe a tremendous growth rate of 15% over the forecast span.

Medical polymers market finds a wide array of application in medical packaging and medical devices equipment sectors. Each of these applications will see an immense growth with respect to size and volume since people are rapidly adopting the advanced medical treatments. Medical devices & equipment market is set to register a CAGR of 8% over the period of 2016-2024, having had more than 50% of the overall market share in 2015.

Asia Pacific medical polymers market is poised to show an exponential growth chart with rapidly increasing healthcare infrastructure in China, Bangladesh, India, Pakistan, and Indonesia. The region is anticipated to grow at a rate of 10% over the period of 2016-2024, owing to rising population base and unmet medical needs in these developing countries.

North America Medical polymers industry with revenue worth USD 4.5 billion in 2015, is expected to witness lucrative growth prospects over the coming years. North America medical polymers market is also expected to witness a significant growth roadmap with U.S. being the leading country contributing the maximum share.

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The medical polymers market players are also focusing on significant integration in the value chain and upgradation of product portfolio. Major participants in medical polymers industry include DuPont, Dow Chemical, Evonik Industries, Bayer AG, and Huntsman.

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