The medical polycarbonate from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Medical Polycarbonate Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The medical polycarbonate market size has grown strongly in recent years. It will grow from $1.31 billion in 2023 to $1.40 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to increased demand for personal protective equipment, increased prevalence of chronic diseases, increasing demand for durable and lightweight materials, rise in the number of diseases, and stringent regulatory standards.
The medical polycarbonate market size is expected to see strong growth in the next few years. It will grow to $1.84 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to rising investments in research and development for novel medical applications, growing preference for biocompatible materials, increased number of cardiovascular diseases, increased number of surgeries, and expanding healthcare infrastructure in emerging economies. Major trends in the forecast period include technological advancements, strategic collaborations, factory expansion, adoption of additive manufacturing for customized medical devices, and integration of polycarbonate in next-generation wearable health technologies.
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Scope Of Medical Polycarbonate Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Medical Polycarbonate Market Overview
Market Drivers –
The increased prevalence of chronic diseases is expected to propel the growth of the medical polycarbonate market going forward. Chronic disease is a long-lasting condition that typically requires ongoing medical attention and can limit daily activities or quality of life. Chronic disease prevalence is rising due to altered habits, inheritance, and exposure to chemicals, toxins, and pollutants in the air. Medical polycarbonate is used in devices and instruments needed for treating, diagnosing, and tracking chronic illnesses. For instance, in January 2023, according to the National Center for Biotechnology Information (NCBI), a US-based medicine library, the number of people aged 50 and above who suffer from one or more chronic illnesses is expected to increase by 99.5% by 2050, from 71.522 million in 2020 to 142.66 million. Therefore, the increased prevalence of chronic diseases drives the medical polycarbonate market.
Market Trends –
Major companies operating in the medical polycarbonate market are developing innovative products, such as ultra-durable material solutions, specifically designed for the healthcare and life sciences sectors, to gain a competitive edge in the market. Ultra-durable material solutions refer to materials specifically engineered to withstand extreme conditions and stresses without significant degradation or failure. For instance, in February 2023, Covestro AG, a Germany-based manufacturer of polymer materials, launched the Makrolon 3638 polycarbonate, an ultra-durable polycarbonate. This innovative material offers exceptional strength, chemical resistance, and biocompatibility, making it ideal for medical devices and equipment that require prolonged use and sterilization. Its high thermal stability ensures consistent performance under extreme conditions, while its durability reduces the need for frequent replacements, enhancing cost-efficiency and reliability in medical applications.
The medical polycarbonate market covered in this report is segmented –
1) By Grade: Lipid-resistant Grade, High-temperature Grade, Other Grades
2) By Processing Technology: Extrusion, Injection Molding, Blow Molding, Other Processing Technologies
3) By Application: Fluid Delivery And Intravenous (IV) Connection Components, Renal Dialysis Products, Cardiovascular Devices, Surgical Instruments, Other Applications
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Regional Insights –
North America was the largest region in the medical polycarbonate market in 2023. The regions covered in the medical polycarbonate market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the medical polycarbonate market are Bayer AG, LG Chem Ltd., Saudi Basic Industries Corporation, Asahi Kasei Corporation, Covestro AG, Lotte Chemical Corporation, Evonik Industries AG, Royal DSM N.V., Celanese Corporation, Teijin Limited, Trinseo S.A., Kolon Industries Inc., Avient Corporation, Daicel Corporation, Tekni-Plex Inc., Plaskolite LLC, RTP Company, Mitsubishi Engineering-Plastics Corporation, Chi Mei Corporation, Polyplastics Co. Ltd.
Table of Contents
1. Executive Summary
2. Medical Polycarbonate Market Characteristics
3. Medical Polycarbonate Market Trends And Strategies
4. Medical Polycarbonate Market – Macro Economic Scenario
5. Global Medical Polycarbonate Market Size and Growth
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32. Global Medical Polycarbonate Market Competitive Benchmarking
33. Global Medical Polycarbonate Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Medical Polycarbonate Market
35. Medical Polycarbonate Market Future Outlook and Potential Analysis
36. Appendix
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