Medical Polymers Market Analysis

Medical Polymers Market Analysis

Medical polymers market share from biodegradable medical plastics segment is expected to grow at more than 10% CAGR through 2032. Owing to their product benefits, such as strong chemical and microbiological resistance, low weight and costs, biodegradable polymers are likely to see significant expansion in medical applications.  The manufacturing of these polymers revolves around less energy compared to traditional plastics, resulting in fewer GHG emissions that harm the planet. Since the material can be molded into exact proportions as per requirement, it calls for high demand in the syringe industry.
 

Based on application, medical packaging segment is projected to showcase more than 8% CAGR through 2032. The stringent need for the effective packaging of medical devices and pharmaceuticals coupled with the increasing hygiene awareness is driving the market growth. Medical polymer barrier packaging and films protect the products from vibration, stress, magnetic fields, and compression. Key regulatory authorities, such as the European FDA and the U.S. F.D.A. are encouraging medical plastics usage in disposables, which is boosting the growth of the medical polymers market.
 

MEA (Middle East and Africa) medical polymers market size is likely to depict over 9% CAGR through 2032. The increasing demand for polymers in medical packaging applications is contributing to industry share in the region. The stringent requirements for effective pharmaceutical and medical device packaging have led to the development of a diverse variety of innovative medical polymer films. Plastics that can withstand radiation sterilization have made way for a wide range of polymer compositions for rigid and semirigid thermoforms, as well as films with thicknesses ranging from 0.5 to 10.0 mil. Such technological advancements are likely to boost the market dynamics in the region.