Friday, 4 August 2017

Substitution of traditional materials for medical devices and implants to propel global medical polymers market to 2022

Medical polymers are utilized for a variety of human contact and non-contact applications in the medical industry. These materials are chiefly used in the manufacture of medical implants, devices, disposables (gloves, vials, tools), and packaging. Medical polymers are biocompatible in nature and either remain inert or are easily processed by the human body. Allied Market Research expects medical polymers market to garner US$19,014 mln by 2022, registering a CAGR of 13% during the forecast period 2016-2022.  The growth in investment towards research and development, increase in adoption of medical polymers and development of low cost materials are driving demand for medical polymers in the healthcare industry. Medical polymers are adopted widely across the healthcare industry with significant efforts to commercialize new medical polymers to meet the specification of high end applications. Demand for polymers in healthcare markets is growing significantly owing to a significant upsurge in the demand for medical implants, whereas demand for implants is growing primarily due to increased incidences of chronic diseases and increasing global geriatric population. Demand is witnessing significant growth in all the regions, due to rapid acceptance and adoption of polymers from product designing to final product manufacturing. Although several polymers are biocompatible, not all are approved for commercial use. The key players in the global medical polymers market have adopted various business strategies, such as research and development, product launch, agreement, acquisition, collaboration, expansion, and partnership, to sustain the intense market competition. Large amounts of investments are ongoing to develop implants and devices using various polymers driven by their versatility and stability. This is further expected to increase the adoption of polymers for medical applications and enhance the attractiveness of the medical polymers market for industry participants. Resins such as PEEK and PE, especially ultrahigh molecular weight polyethylene (UHMWPE), possess the maximum market potential in the medical polymer segments. These polymers are gaining popularity owing to their structural strength, bio-inertness, commercial viability, and bio-compatibility. PEEK and UHMWPE find increased usage in medical implants, including orthopaedic and electronic implantable devices. PP, PC, and other resins, including ABS, PMMA, and PET, also show increased utilization in manufacturing medical devices. These engineering thermoplastics exhibit excellent stability, durability, and formability and are preferred over metals and polymer for designing medical devices and implants. PVC is another key segment used for manufacturing medical devices and disposables. PS is used in human-contact applications owing to its non-toxicity and stability. Acrylates are used to produce hydrogels, which are applicable in wound-care, drug delivery, and tissue engineering. Elastomers are mostly used in sealing, packaging, and disposables such as gloves. Biodegradable plastics including PLA, PGA, and PLGA are being developed for use in disposables and packaging applications as substitutes for PE and PP. 

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