Global medical polymers market to reach USD 22.31B in 2023

The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032.

The Business Research Company’s medical polymers global market Report 2023 identifies the increase in demand for medical devices is expected to boost the growth of the medical polymer market going forward. Medical devices are instruments, apparatuses, machines, appliances, implants, materials, or any similar product designed for medical practice. Medical polymers form an essential part of developing and manufacturing medical devices because of their low cost and lightweight properties.

The global medical polymers market size is expected to grow from $20.28 billion in 2022 to $22.31 billion in 2023 at a compound annual growth rate (CAGR) of 10%. The Russia-Ukraine war disrupted the chances of global economic recovery from the Covid-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global medical polymers market size is expected to reach $32.38 billion in 2027 at a CAGR of 9.7%.

Major players in the medical polymers market are Arkema S.A., BASF SE, Celanese Corporation, Covestro AG, Eastman Chemical Company, Evonik Industries AG, Exxon Mobil Corporation, Formosa Plastics Corporation, Foryou Medical, Kraton Corporation, Saudi Basic Industries Corporation, Solvay, Dow Inc., DSM-Firmenich, Lubrizol Corporation, NatureWorks LLC, and Trinseo.

A key trend in the medical polymers market includes the Innovation in medical polymer material is a key trend gaining popularity in the medical polymer market. Companies operating in the medical polymer market are developing innovative medical polymer materials to sustain their position in the market.

The Business Research Company’s “Global medical polymers market report 2023” provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better. Business Research Company