Medical Polymers Market Overview
Polymers are materials consisting of repetitive units of monomers that are bound together by strong covalent bonds. They are ubiquitous in our daily lives due to their favorable characteristics. Polymers can be divided into various categories, based on their backbone chain, degradation ability, molecular forces, source of origin, structure of monomer chain and morphology.
The global Medical Polymers Market size is estimated to grow from USD 20.80 billion in 2024 to USD 46 billion by 2035, representing a CAGR of 7.3% during the forecast period 2024-2035.
Further, polymers are being employed in the pharmaceutical / medical sector for a myriad of applications, such as pharmaceutical excipients, medical devices (components and coatings), packaging systems for medications, tissue engineering and 3D printing.
Medical Polymers Market Segmentation
Medical Polymers Market focuses on Distribution by Type of Polymer (Thermoplastic Polymers, Elastomers, Thermoset Polymers and Others), Area of Application (Medical Devices, Excipients, Packaging, Others) and Key Geographical Regions (North America, Europe, Asia-Pacific, Latin America, Middle East and North Africa, Rest of the World).
It is important to mention that the manufacturing of pharmaceutical / medical polymers needs to be carried out in a controlled environment with strict adherence to regulatory guidelines in order to maintain the product quality and performance. A variety of novel polymers have also been developed that respond to external stimulus (electric or magnetic field, enzymes, pH, temperature and ultrasound waves), thereby modifying the release of the medication from the dosage form are targeting specific areas in the body. In addition, technological advancements in this domain have led to the development of biodegradable polymers; these polymers are resorbed in the body after fulfilling their function.
Advantages of Pharmaceutical/Medical Polymers include:
- Improved Compatibility : With the biological system to perform the desired action without eliciting any undesirable effects.
- Cost Effective : When compared to substitute materials, such as ceramic, glass and metal.
- Wider Applicability : These polymers can be used for taste masking, solubility enhancement and sustaining drug release.
Driven by the rising demand for novel medical therapeutics and devices, and the ongoing efforts for the development of pharmaceutical polymers / medical polymers having improved biocompatibility and functionality, we believe that the pharmaceutical polymers / medical polymers market is likely to witness a steady growth over the coming years.
Medical Polymers Market Key Companies
Examples of key medical polymer companies include Americhem, Borealis, Celanese, Corel Pharma Chem, Eastman, Henkel, KRAIBURG TPE, Kuraray, Lubrizol Life Science, LyondellBasell, Phon Tech, SEQENS, Sumitomo Chemical, Solvay and Zylog ElastoComp.
The current market landscape features the presence of close to 150 companies that are engaged in the manufacturing of pharmaceutical polymers / medical polymers. Majority of the companies manufacture amino-based polymers including collagen, gelatin, poly-lysines, polyglutamic acid and poly-sarcosines. It is worth mentioning that around 15% of the players develop more than three compositions of pharmaceutical polymers / medical polymers.
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