Global Medical Polymer Market is Expected to growing at a CAGR of 5.6% from 2014 to 2020
The global market for medical polymers (http://www.grandviewresearch.com/industry-analysis/medical-polymers-market) is expected to reach USD 17.05 billion by 2020, according to a new study by Grand View Research, Inc. Increasing substitution of conventional materials such as glass and metals in medical devices by high performance polymers such as PVC and polypropylene coupled with growing demand for medical devices from the fast developing Asian healthcare market is expected to drive medical polymer demand over the next six years. In addition, growing geriatric population is expected to further boost the demand for polymer based devices in minimally invasive surgeries resulting in increased demand for medical polymers.
Devices and equipments were the largest application markets, accounting for over 2,000 kilo tons of medical polymer demand in 2013. Growing medical tourism due to low cost labor and advanced facilitates in emerging healthcare destinations of India, China, Malaysia and Singapore is expected to have positive impact on the market over the forecast period. Medical polymers are also extensively used in medical packaging applications owing to its superior properties and accounted for 2,271.3 kilo tons of demand in 2013.
For the purpose of this study, Grand View Research has segmented the global medical polymer market on the basis of product, application and region:
• Medical Polymer Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)
• Resins & Fibers
• Polyvinyl chloride
• Others (Nylon, PET, PA, PC, ABS)
• Styrene block copolymer
• Rubber latex
• Others (TPU, TPO, TPV)
• Biodegradable Plastics
• Medical Polymer Applications Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)
• Medical Devices & Equipments
• Medical Packaging
• Others (Cardio, Tissue Culture)
• Medical Polymer Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)
• North America
• Asia Pacific
View Full Report with TOC @ http://www.grandviewresearch.com/industry-analysis/medical-polymers-market
The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.