(Polymethyl Methacrylate) PMMA Market Size In Healthcare Applications (Medical Ware, Pharmaceutical Handling, Laboratory Ware), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024
Published Date: Aug 2016 | Report ID: GMI693 | Authors: Kunal Ahuja, Kritika Mamtani
PMMA (Polymethyl Methacrylate) Market size in healthcare application was above USD 115 million in 2015 with gains expected at over 7.5%
Get more details on this report - Request Free Sample PDF
Strong trend towards substituting conventional medical based polymers including polycarbonate and PVC with high quality and non-toxic polymers should drive PMMA demand in healthcare applications. Increasing medical expenditure with rise in device sales for patient treatment may create new avenues for PMMA market size across healthcare domain.
Technological innovations along with customized products demand for novel applications may boost PMMA market size for healthcare applications. Arkema has recently introduced Altuglas Lucator, a compound for medical mainframe. REACH & FDA made strict norms regarding high safety and security for consumers to manufacture medical devices using plastics or polymers, which should drive product demand. The National Academies and National Cancer Institute is focused on improving awareness among patients and consultants relating to the hazards associated with petrochemical products usage in healthcare industry.
Rising medical expenditure in BRICS has positively influenced healthcare grade polymethyl methacrylate market size. Global healthcare device market was over USD 350 billion in 2015. Growing geriatric population in the U.S., Japan and Europe should boost in PMMA market size in healthcare applications.
Polymethyl methacrylate is mainly used in healthcare equipment including incubators, cuvettes, laboratory equipment, IV components, orthopaedic devices, desiccators and disposable medical devices due to its UV tolerance, light transmission, transparency and protection from phthalates and lipids characteristics. The compound needs methanol, acetone and ammonia as raw materials. Tight feedstock supply for product manufacturing might pressurize on PMMA market price trend in healthcare applications.
|Base Year:||2015||Market Size in 2015:||115 Million (USD)|
|Historical Data for:||2013 to 2015||Forecast Period:||2016 to 2024|
|Forecast Period 2016 to 2024 CAGR:||7.5%||2024 Value Projection:||235 Million (USD)|
|Pages:||93||Tables, Charts & Figures:||112|
|Geographies covered (20):||U.S., Canada, Mexico, UK, Germany, France, Italy, Russia, China, India, South Korea, Malaysia, Thailand, Indonesia, Australia, Japan, Brazil, South Africa, Saudi Arabia, UAE|
|Segments covered:||In Healthcare Applications and Region|
|Pitfalls & Challenges:||
PMMA Healthcare Market, By Application
PMMA market size from medical ware applications should register over 15 kilo tons by 2024. Rising cataract and myopia occurrence due to increasing old aged population should encourage intraocular glass demand which would drive PMMA market size in medical ware application.
Rising osteoporotic fractures due to growing geriatric population has improved bone adhesive demand. Polymethyl methacrylate is mainly used as bone adhesive in orthopaedic applications. Also, its use in dentures would accompany PMMA market growth. Rising number of birth rate in China and India along with increasing expenditure in healthcare should drive incubators demand which would boost polymethyl methacrylate market size inn healthcare applications.
PMMA market size from laboratory application is estimated to grow at over 5.5%. Rise in ageing population and increase in diagnostics IV would boost polymethyl methacrylate market size. Technological advancement such as tissue and molecular diagnostics particularly in the U.S. should boost product market.
Polymethyl methacrylate market size form pharmaceutical handling applications should register over USD 30 million by 2024. Newly introduced RFID cabinets should boost product demand. Rising occurrence of numerous chronic diseases might increase pharmaceutical cabinet market demand positively, which can drive polymethyl methacrylate market size in healthcare applications.
PMMA Healthcare Market, By Region
APAC, dominated by India and China PMMA market size expects gains at above 10%. China and Japan are involved in technological innovation for manufacturing medical devices which should boosts polymethyl methacrylate market size.
Europe PMMA market size in healthcare applications, led by Germany, UK, France and Italy, was above USD 35 million in 2015. Increasing use of medical devices including desiccators, incubators and implants along growing health hazards concerns should drive Europe polymethyl methacrylate market growth across healthcare domain.
Competitive Market Share
Global PMMA healthcare industry market share is competitive. Some companies operating in this industry are Dow Chemical, Polyone Corporation, Lucite International, Evonik Industries, Arkema, Mitsubishi Rayon, Chi Mei and Sumitomo Chemical. Most manufacturers produce MMA internally for confined consumption and are integrated backwards across the value chain supplying surplus to other healthcare grade polymethyl methacrylate manufacturers.
Companies operating in PMMA based medical devices are Globe Scientific, Thomas Scientific, Dentsply International, Intuitive Surgical Systems, BrandTech Scientific, Bel-Art Products, Duro-Med Industries and Fisher Scientific. They have lower backward integration threat to PMMA manufacturers owing different business fields.
Aristech Surfaces, Plaskolite and Kydex are some other medical polymethyl methacrylate market players. Key polymethyl methacrylate convertors are Modern Plastics, RTP, Emco Industrial, Tap Plastics and Everything Plastics.
Take a free trial of GMIPuse, our report store; designed to provide clients a range of market research services, all on a single platform.Start Your Free Trial
Benefits of Association
Data Coverage & Quality
GMI reports provide the most comprehensive coverage of any focus industry, ensuring a holistic and deep understanding of the market, along with actionable and granular data. We also take pride in our commitment to quality and strive to ensure that our clients get their moneys worth.
Client Trust & Security
GMI maintains strict code of conduct as a business and is committed to ensure that the privacy and trust of our clients are always maintained. As an organization, we also strive to be fully compliant with privacy laws, PCI and information security guidelines.
Our customers rely on us to produce accurate, reliable and timely information. Service orientation is a key mission for us as an organization; our process is guided by the desire to ensure that our clients are provided the best possible solutions in optimal timeframe. GMI stands by its commitment to service, providing timely assistance in both pre-sales and post-sales support for our clients.