The Polypropylene Polymers Market is set to expand 2.5x by 2031, driven by the rising demand for home healthcare devices and medical polymers.
According to the latest Fact.MR analysis, the global Commodity polymers market size was valued at US$ 8.19 Bn in 2020 and is projected to reach US$ 20.1 Bn by 2031. With growing scope of medical polymers applications in the medical field, the overall market is projected to surge at 8.2% CAGR between 2021 and 2031.
Medical polymers are lightweight, they offer better biocompatibility, and are available at low cost which makes them ideal for application in packaging of various medical devices.
Increasing prevalence of chronic diseases is pushing the sales of medicines and medical devices. As medical polymers form an important component of medical devices and packaging, the market is slated to witness strong growth in the future.
The rising demand for home healthcare devices is creating demand for Polypropylene polymers. People are showing keen interest in purchasing various medical devices suitable for home healthcare setting to minimize the hospital charges and reduce the threat of infection. This will improve the sales of medical polymers in the coming years.
Manufacturers are continuously investing in research and development to produce better and sustainable LDPE polymers. This has encouraged application of medical polymers in plastic surgeries and implants.
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According to Fact.MR, commodity medical polymers are highly sought-after in healthcare industry. These polymers offer various advantages such as flexibility, compatibility, durability, light weight, and ease of fabrication. Hence, consumption of commodity polymers will reach around 5.3 MMT in 2021. The study forecasts the consumption of medical polymers to grow in the future.
Advancements in engineered polymers are anticipated to increase their scope for application in medical devices, implant, and packaging during the assessment period.
Regionally, North America dominates the medical polymers market and will account for around one-third of global demand in 2021. Growth in the region is attributable to the flourishing home healthcare devices market, high prevalence of chronic diseases, and presence of leading packaging and medical device companies.
“COVID-19 pandemic has exposed gaps in healthcare systems across the world. It has put countries under immense pressure to bring changes in their healthcare setups. As a result, governments around the world have started investing heavily to strengthen their healthcare infrastructure. This is expected to accelerate the growth of medical polymers market during the forecast period,” says the Fact.MR analyst.
Key Takeaways from Polypropylene Polymers Market Survey
Key Drivers
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Competitive Landscape
Key companies operating in the medical polymers market are using various strategies such as research and development activities, mergers, acquisitions, new product launches and establishment of new facilities to expand their business.
Some of the prominent players operating in the medical polymers market profiled by Fact.MR are:
More Insights on the Global Polyethylene Polymers Sales Outlook
Fact.MR provides an unbiased analysis of medical polymers market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the global demand for medical polymers with a detailed segmentation on the basis of:
Polymer Material
Application
Processing Method
Region
Key Questions Covered in the LDPE Medical Polymers Market Outlook Report
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The article discusses the growth of the Polypropylene Polymers Market, driven by increased demand for home healthcare devices.
How is the demand for medical polymers changing? It is expected to grow significantly due to their application in medical devices and packaging.
What regions are leading in medical polymers demand? North America and Europe are key regions due to advanced healthcare infrastructure.
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