The global medical elastomers market is forecast to reach USD 10.48 Billion by 2026, according to a new report by Reports and Data. The growing popularity of the use of plastic materials for medical devices is one of the major factors contributing to the growth of the market. The ever increasing demand for high-quality healthcare facilities in various countries will also govern the demand for elastomers in the healthcare sector.
Elastomers are available in a wide range of durometer ranges and offer excellent heat and chemical resistance. Elastomer tubing is resistant to many environmental factors such as UV radiation, chemicals, temperature, and x-rays. Their use in medical applications is driven by the fact they resist adhering to body tissue and do not support microbial growth. They can be sterilized with a variety of methods with minimal performance degradation or changes in mechanical properties.
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Further key findings from the report suggest
- Among the technology, the injection molding accounts for the largest market share of ~37% in the year 2018 and is forecasted to grow with the highest rate of 7.7% during the forecast period. Injection molding can be done with a variety of materials, including thermoset elastomers and polymers. The technology provides advantages of fast production, low labor costs, design flexibility, high-output production, and others.
- Thermoplastic elastomers are forecasted to grow with the highest rate of 7.6% during the forecast period. Thermoplastic materials have the potential to be recyclable as they can be molded, extruded, and reused. Depending on the environmental conditions, these materials have outstanding thermal properties and material stability when exposed to a broad range of temperatures and non-polar materials. They consume less energy to produce, can be colored easily by most dyes, and allow economic quality control.
- The Asia Pacific region held the largest market share of ~30% in the year 2018 and is anticipated to witness the highest CAGR of 7.7% during the forecast period, owing to the region’s rapid expenditure in medical facilities, particularly in China, India, and Japan.
- The rapid growth in the demand for technology will contribute to the growth of the market in the region. The rising population, growing industrialization, and urbanization, coupled with the expanding chemicals & materials, construction, food processing, and other industries in the region will also escalate the growth of the market. The healthcare sectors in China and India will result in a large number of new hospital construction projects and thus increasing the demand for medical and surgical equipment.
- Key participants include DowDuPoint Inc., BASF SE, Royal DSM, Solvay SA, Celanese Corporation, Eastman Chemical Company, Trelleborg AB, Polyone Corporation, RTP Company, Kuraray Co., Ltd., and Foster Corporation, among others.
- The companies have adopted various strategies, including mergers, acquisitions, and partnerships to hold ongoing trails and come up with new developments in the market.
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For this report, Reports and Data have segmented into the global medical elastomers market on the basis of product type, technology, end-use, and region:
Product Type Outlook (Volume, Kilo Tons and Revenue, USD Million; 2016-2026)
- Thermoset Elastomers
- Thermoplastic Elastomers
Technology Outlook (Volume, Kilo Tons and Revenue, USD Million; 2016-2026)
- Extrusion Tubing
- Compression Molding
- Injection Molding
End-Use Outlook (Volume, Kilo Tons and Revenue, USD Million; 2016-2026)
- Medical Tubes
Regional Outlook (Volume, Kilo Tons and Revenue, USD Million; 2016-2026)
- North America
- Asia Pacific
- Latin America
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Table of Contents
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018-2026
Chapter 3. Indicative Metrics
Chapter 4. Medical Elastomers Market Segmentation & Impact Analysis
4.1. Medical Elastomers Market Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
22.214.171.124. Popularity of the use of plastic materials for medical devices
126.96.36.199. Growing demand for high quality healthcare facilities
188.8.131.52. Rising investments in the healthcare industry
184.108.40.206. Rise in the level of disposable income in developing nations
4.2.3. Market restraints analysis
220.127.116.11. Stringent regulations
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter’s Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis
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