The medical elastomers market is projected to grow from USD 5.51 billion in 2017 to USD 7.92 billion by 2022, at a CAGR of 7.5% during the forecast period. Medical elastomers are synthetic rubber or rubber-like polymers which are soft and elastic in nature. These elastomers are used in the manufacturing of medical devices, which are used in the diagnosis, treatment, and prevention of diseases or disorders in the human body. Medical elastomers are used to manufacture catheters, medical tubes, gloves, syringes, medical bags, and implants. The increasing use of these elastomers in the manufacturing of medical devices is expected to fuel the growth of the medical elastomers market.
Get PDF Brochure for Research Insights at: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=191173877
Based on type, the medical elastomers market has been segmented into thermoset and thermoplastic elastomers. The thermoplastic segment is projected to grow at a higher rate than the thermoset segment during the forecast period owing to the increasing use of thermoplastic elastomers in the manufacturing of medical tubes and catheters, which are the dominating applications of medical elastomers. These elastomers possess various properties, such as bio durability, flexibility, biocompatibility, and processability, making them an ideal choice in medical devices applications.
Based on application, the medical elastomers market has been segmented into medical tubes, catheters, gloves, medical bags, implants, syringes, and others. The implants segment is projected to grow at the highest CAGR during the forecast period. The growth of this segment is supported by the increasing use of orthopedic and prosthetic implants. The growing usage of medical tubes in the diagnosis of diseases is expected to increase the demand for medical elastomers.
The key companies operating in the medical elastomers market have adopted various inorganic and organic growth strategies, such as acquisitions, new product launches, mergers, expansions, partnerships, and joint ventures to strengthen their foothold in the market. BASF SE (Germany), DowDuPont (US), Solvay S.A. (Belgium), Eastman Chemical Company (US), and Royal DSM (Netherlands) are some of the leading players operating in the medical elastomers market.
New product launches and expansions were the key growth strategies adopted by the leading players between 2015 and 2017 to enhance their business prospects, increase their global reach, and widen their distribution networks. For instance, in 2015, Solvay S.A. established a fluoroelastomer (FKM) plant in China to fulfill the growing demand for specialty polymers in the country. This development further helped the company strengthen its market position in the medical elastomers market.
If You Want To Know More About Report Before
Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=191173877
DowDuPont (US) is a leading innovation-driven company offering silicone-based medical elastomers. The company has adopted the merger strategy to strengthen its position in the medical elastomers market. In 2017, Dow (US) and DuPont (US) announced their merger of equals, thus forming DowDuPont. This merger enabled the companies to use each other’s resources and increase their effectiveness in the core markets.
Trelleborg AB (Sweden), Kuraray Co., Ltd. (Japan), Teknor Apex (US), Momentive Performance Materials Inc. (US), PolyOne Corporation (US), and Celanese Corporation (US) are some of the other leading manufacturers of medical elastomers.
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their pain points around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 Micro Quadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledge store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
Follow Us: LinkedIn | Twitter | Facebook
Read Our Trending Press Release on Below Blog:
