Global Medical Elastomers Market was valued at US$ 5.55 Bn in 2017 and is expected to reach US$ 9.97 Bn by 2026, at a CAGR of 7.6% during a forecast period.
The report includes the analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.
Global Medical Elastomers Market, by Type
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data, and projections with a suitable set of assumptions and methodology.
Elastomers are usually thermosets but may also be thermoplastic. The long polymer chains cross-link during curing, i.e., vulcanizing. Temperature effects are also present in the demonstrated elasticity of a polymer. Elastomers that have cooled to a glassy or crystalline phase will have less mobile chains, and consequentially less elasticity, than those manipulated at temperatures higher than the glass transition temperature of the polymer.
Recent trends in the healthcare industry have paved the way for breakthrough innovations in polymer technology. Medical device manufacturers increasingly turn to thermoplastic elastomers for applications that require flexibility or rubber-like elasticity, and they turn to Teknor Apex to deliver high quality, regulatory-compliant TPEs with a proven track record.
Based on the type, the thermoplastic segment of the medical elastomers market is projected to grow at the highest CAGR between 2017 and 2026. Thermoplastic elastomers are being viewed as a replacement for PVC in applications where phthalate- or plasticizer-free materials are desired. Globally, IV therapy producers are among the first in the medical device industry to transition from PVC to TPE materials. TPEs also are replacing thermoset rubbers (such as silicone, polyisoprene, and butyl rubber) used in elastomeric medical applications, such as the septum, stoppers, and syringe plungers.
Based on the application, the medical tubes segment accounted for the largest share of the medical elastomers market in 2017. The demand for application-based elastomers is increasing for medical tubes, as they do not contain harmful latex, PVC, or bisphenol-A. In addition, they are easy to sterilize, recyclable, and flexible, and therefore find large application in Types used in the healthcare industry, such as medical bags, Catheters, and gloves.
The Asia Pacific region is expected to lead the medical elastomers market during the forecast period. The growth of the APAC medical elastomers market is attributed to the region's growing population and increasing healthcare expenditure of various countries, such as India, Indonesia, and China. Additionally, increased investments from private and government sectors to improve the healthcare infrastructure across countries are also expected to create a demand for medical devices, thereby fueling the growth of the medical elastomers market in the region.
The report covers a global and regional level estimation and analysis for the medical elastomers market. The impact of the different market factors, such as drivers, restraints, and opportunities, challenges key issues SWOT analysis, and technology forecasting is also illustrated in the report. The medical elastomers market report covers an in-depth study of the global and regional market and market attractiveness analysis, wherein the application, type, and regional segments are benchmarked based on their growth rate, general attractiveness, and market size.
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Scope of the Global Medical Elastomers Market:
Global Medical Elastomers Market, by Type:
• Thermoset
• Thermoplastic
Global Medical Elastomers Market, by Application:
• Medical Tubes
• Catheters
• Syringes
• Gloves
• Medical Bags
• Implants
Global Medical Elastomers Market, by Region:
• North America
• Europe
• Middle East & Africa
• Asia-Pacific
• South America
Key Players Operating in the Global Medical Elastomers Market:
• BASF SE
• Celanese Corporation
• Dow DuPont Inc.
• Eastman Chemical Company
• Kuraray Co. Ltd.
• Mitsubishi Chemical Corporation
• Momentive Performance Materials Inc.
• Polyone Corporation
• Royal DSM
• RTP Company
• Solvay S.A.
• Teknor Apex
• Trelleborg AB.
• Polymax
• Suzhou Hongshuo
• Koninklijke DSM N.V.
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