PMMA Healthcare Market size to surpass $235mn by 2024
Published Date: August 8, 2016 Authors: Kunal Ahuja, Shreya Deb
(Polymethyl Methacrylate) PMMA Healthcare Market size is expected to reach USD 235.9 million by 2024; according to a new research report by Global Market Insights, Inc.
Medical polymers have steadily gained penetration in healthcare applications over the past few years owing to shift in trend towards replacing metals. Technology innovation and change in perception towards adoption of high performance polymers has helped to drive PMMA market size growth in healthcare space.
Increasing medical expenditure in BRICS nations should favor polymethyl methacrylate market size growth. It possesses optical clarity & excellent transparency, surface hardness and UV resistance and chemical resistance. PMMA's biocompatibility, reliability, ease of manipulation makes it a preferred choice for dental applications such as cavity fillings.
U.S. PMMA market size dominates the global healthcare application space and may generate over USD 80 million by 2024. Stringent FDA norms to minimize the use of conventional polymers/plastics such as polycarbonate & PVC owing to hazardous contents (phthalates) which can be transferred to human may drive PMMA market share in healthcare applications.
Medical ware applications accounted for a major chunk in the global PMMA healthcare market in 2015 and may register over 16 kilo tons by 2024. Medical ware products include dentures, incubators, bone cements, intraocular lens. Its increasing use as bone cement due increasing prevalence of osteoporotic fractures may drive PMMA market size growth in medical ware applications.
Key raw materials for MMA production include methanol, ammonia and acetone. Supply bottleneck for this particular monomer owing to political unrest in Gulf region may hamper PMMA market price trend in healthcare applications. Development of biobased PMMA may reduce reliance on product derived from petrochemicals and further may help in overcoming price and fulfill supply demand deficit.
Browse key industry insights spread across 93 pages with 93 market data tables &19 figures & charts from the report, “(Polymethyl Methacrylate) PMMA Market Size In Healthcare Applications (Medical Ware, Pharmaceutical Handling, Laboratory Ware), Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, UK, Germany, France, Italy, Russia, China, India, South Korea, Malaysia, Thailand, Indonesia, Australia, Japan, Brazil, South Africa, Saudi Arabia, UAE), Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024” in detail along with the table of contents:
Key insights from the report include:
- (Polymethyl methacrylate) PMMA market size in healthcare applications may register over 35 kilo tons by 2024.
- Laboratory ware market share is set to grow at 6.2% in revenue terms. Growing global geriatric population base and the consequent rise in IV diagnostics globally may positively influence polymethyl methacrylate market size across healthcare applications.
- APAC, led by India and China PMMA market size, is poised to grow at 8% CAGR by 2024. Regional government sanctions to aimed at increasing medical device purchasing budgets coupled with introduction of private and multinational healthcare providers may drive domestic growth.
- Europe PMMA industry may register over USD 70 million revenue by 2024. UK, Germany, Italy, Spain and France are major healthcare markets in this region. In most of Europe, especially Western Europe, the healthcare system primarily depends on government funding.
- Pharmaceutical handling application in APAC is poised to surpass 1.4 kilo tons by 2024. Growing number of cases in chronic diseases and presence of untapped market opportunities in the region may drive industry growth.
- MEA, led by South Africa may grow significantly by 2024. Increasing healthcare expenditure coupled with rise in medical devices industry may have a positive influence in healthcare industry and stimulate PMMA market demand.
- Global (Polymethyl methacrylate) PMMA market share in healthcare industry is competitive. Notable industry participants include Lucite International, Evonik Industries, Polyone Corp and Arkema.
- PMMA healthcare grade is available as sheets, beads or pellets. These are made available through numerous distribution chains via direct marketing, supply agreements and third party distribution.
Global Market Insights has segmented the PMMA industry for healthcare on the basis of application and region:
- Polymethyl Methacrylate (PMMA) Healthcare Application Analysis (Volume, Kilo Tons; Revenue, USD Million, 2013 – 2024)
- Medical ware
- Laboratory ware
- Pharmaceutical Handling
- Polymethyl Methacrylate (PMMA) Healthcare Regional Analysis (Volume, Kilo Tons; Revenue, USD Million, 2013 – 2024)
- North America
- Asia Pacific
- South Korea
- Latin America (LATAM)
- Middle East & Africa (MEA)
- Saudi Arabia
- South Africa
- North America