The development of medical polymer is expected to be huge
The development of medical polymer is expected to be huge
The global medical polymer market is developing robustly and is expected to be worth $17.05 billion by 2020. Due to its lightweight polymer and superior performance, its application in the medical packaging market will be expanded in the next few years.
Famous American market-research firm Grand View, according to Research recently released a report itself instead of the metal, the speeding up of glass material and emerging countries for its strength increasing market demand, the robust global medical polymer in recent years, the expected value of the material will reach $2020 in 17.05 billion.
In addition, market analysts say the acceleration in the pace of the aging of the world, especially in developed countries, will further push up the demand for polymers in medical devices. As a result, the global market for medical polymers is booming.
According to the report, the total consumption of medical polymers in the world in 2013 was about 4.9 million tons, which is expected to exceed 7 million tons in 2020 to 7.15 million tons. Over the next six years, its compound annual growth rate will be 5.6%. In many applications, the total demand of medical devices is 2 million tons in 2013, while the total demand of medical packaging market is 2.2 million tons.
Because of its lightweight and superior performance, its application in the medical packaging market will be expanded in the next few years, the research institute said. Its market demand compound annual growth rate will reach 6% in 2014-2020.
Geographically, North America is currently the largest market for medical polymers. Its total market sales in 2013 topped the list at $4.18 billion. Grand View Research thinks the space for medical polymer markets in the region is still huge.
