Medical Polymer Market Size Worth $79.76 Billion By 2032 | CAGR: 8.5%

The global medical polymer market size is expected to reach USD 79.76 billion by 2032, according to a new study by Polaris Market Research. The report “Medical Polymer Market Share, Size, Trends, Industry Analysis Report, By Product Type (Fibers & Resins, Medical Elastomers, Biodegradable Polymers, and Others), By Application, By Manufacturing Technology and By Region; Segment Forecast, 2024-2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The medical polymer market is growing significantly due to increasing adoption of medical polymer for the customized to cater requirements and wide range of other medical applications. Additionally, increasing merger and acquisition activity to expand product offerings and distribution network is expected to boost the medical polymer market growth during forecast period. For instance, in December 2023, EQT private equity acquired Zeus, a leading supplier of custom polymer components used in the medical procedures.

The increasing demand for bio-compatible materials in the implants, drug delivery systems, & medical devices is expected to fuel the medical polymer market growth. Healthcare providers & patients prioritize these materials to integrate within the body, thereby minimizing risk complications and improving treatment outcomes, as a result biocompatible material demand among healthcare practioners is increasing impacting the medical polymer market growth positively.

Moreover, the increasing partnership between government and major players in order to discover eco-friendly polymers creates significant opportunities for the medical polymer market growth. For instance, in May 2024, the U.S. National Science Foundation (NSF) announced a USD 9.5 Mn research funding project in partnership with the industry partners, called SPEED that will discover new types of superior polymers.

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The regulatory support for more efficient and safer medical materials continues to accelerate the medical polymer market growth, and promotes innovation of medical polymers. For instance, in April 2024, the FDA's Center for Devices and Radiological Health (CDRH) released 2 reports that show the center's commitment to advancing safety and innovation in medical devices.

Increasing import and export activities in order to expand distribution network is expected to boost the medical polymer market growth in forecast period. For instance, according to the U.S. International Trade Commission, in 2021, U.S. imports of disposable surgical and isolation gowns were valued at USD 157 Mn and consisted of approximately 190 Mn units. These significant import figures show the growing market for medical polymers in the future of the U.S. country.

Medical Polymer Market Report Highlights

• The medical elastomers segment is anticipated to witness the highest growth over the study period, due to its versatility in medical applications.
• The biodegradable polymers segment accounted for the largest market share in 2023, owing to the increasing environmental concerns.
• The medical disposable segment is projected to experience a larger revenue share in 2023, due to increasing environmental concerns.
• Asia Pacific is projected to register the fastest growth over the assessment period, attributable to the single-use practices, and safety concerns.
• The global players include NatureWorks, Covestro, Celanese Corporation, Dow Inc., and Philips.

Market Research has segmented the Medical Polymer market report based on product type, application, manufacturing technology, and region:

By Product Type Outlook (Revenue - USD Billion, 2019 - 2032)

• Fibers & Resins
• Medical Elastomers
• Biodegradable Polymers
• Others

By Application Outlook (Revenue - USD Billion, 2019 - 2032)

• Medical Disposable
• Medical Instruments & Devices
• Diagnostic Instruments & Tools
• Other Applications

By Manufacturing Technology Outlook (Revenue - USD Billion, 2019 - 2032)

• Extrusion Tubing
• Compression Moulding
• Injection Moulding
• Others

By Regional Outlook (Revenue - USD Billion, 2019 - 2032)

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
• Latin America
  • Argentina
  • Brazil
  • Mexico
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa

Medical Polymer Market Report Scope