Home Healthcare Medical Engineered Materials Market
medical engineered materials market

Medical Engineered Materials Market Share, Size, Trends, Industry Analysis Report, By Type (Elastomers, Plastics, Foams, Others); By Application; By Region; Segment Forecast, 2021 - 2028

  • Published Date: Oct 2021
  • Pages: 111
  • Format: PDF
  • Report ID: PM2127
  • Base Year: 2020
  • Historical Data: 2016 - 2019

Report Summary

The global medical engineered materials market size was valued at USD 15.86 billion in 2020 and is expected to grow at a CAGR of 12.9% during the forecast period. The medical engineered materials market is experiencing growth due to the rising population and the growing need to enhance patient experience.

Market sizeKnow more about this reportrequest for sample pages

Medical engineered materials include adhesives, elastomers, foams, and plastics, among others. There is continuous innovation in these materials to enhance the quality and longevity of healthcare equipment. These materials are chemical, temperature, and corrosion resistant for development of safe and effective devices.

Medical engineered materials are used to manufacture disposables, wearables, equipment, surgical instruments, and implants. The greater need for reducing healthcare-associated infections (HAIs), adopting portable technologies, and improving healthcare regulations has boosted the demand for medical engineered materials across the globe.

Industry Dynamics

Growth Drivers
The global medical engineered materials market is driven by rising healthcare expenditure, increasing geriatric population, and rising cases of lifestyle diseases. Globally, significant investments are being made in the healthcare industry to improve infrastructure and develop technologically advanced devices. The growing popularity of minimally invasive procedures further supports the market growth for engineered materials.

Changing consumer lifestyles, rising awareness of diseases such as cancer and diabetes, and growing demand from developing countries are just a few of the factors driving the market for engineered materials. Governments across the globe are introducing strict healthcare regulations, encouraging market players to develop effective and patient-friendly medical devices.

The adoption of plastics for the development of equipment has increased due to their lightweight, durability, and cost-efficiency. Healthcare grade polypropylene and medical-grade polycarbonate are polymers used in a wide range of applications such as surgical tools, MRI casings, pill casings, internal implants, catheters, and joint replacements, among others.

Medical plastics are easy to sterilize and offer superior safety. They are used for the transportation of biohazardous waste as they are non-permeable and shatterproof. The adoption of 3D printing for development of equipment has increased the market demand for engineered plastics. They are used for implants and prosthetics owing to greater freedom of customization and hypoallergenic property.

The market demand for medical engineered materials has increased during the pandemic. There has been a significant rise in the use of masks, PPE kits, and gloves during the pandemic. The fear of contracting the disease has encouraged consumers of all ages to use physical protection against the virus.

The shortage of disposables and wearables has urged organizations to boost production and enhance infrastructure. Healthcare facilities are in dire need of face shields, respirators, infrared thermometers, gowns, and goggles. The requirement for ventilators and ventilator accessories, oxygen concentrators, and blood glucose meters has increased, supporting the sale of medical plastics, medical films, and medical elastomers.

Report Segmentation

The market is primarily segmented on the basis of type, application, and region.

By Type

By Application

By Region

  • Elastomers
  • Plastics
  • Foams
  • Others
  • Disposables
  • Adhesives
  • Devices
  • Wearable
  • Others
  • North America (U.S., Canada)
  • Europe (Germany, UK, France, Italy, Spain, Netherlands, Austria)
  • Asia Pacific (China, India, Japan, South Korea, Indonesia, Malaysia)
  • Latin America (Brazil, Mexico, Argentina)
  • Middle East & Africa (Saudi Arabia, South Africa, Israel, UAE)

Know more about this reportrequest for sample pages

Insights by Type

On the basis of type, the engineered materials market is segmented into elastomers, plastics, foams, and others. There has been a high market demand for plastics during the forecast period. Medical plastics are used for the development of test equipment, surgical instruments, catheters, and implants. They offer high performance, are lightweight, and lower costs.

Some plastic surfaces also offer antimicrobial properties and repel or kill microbes. Medical-grade plastics are utilized in the development of prosthetics through injection molding. Highly customized, lightweight, and durable prosthetics are designed by leading manufacturers using medical engineered plastics.

Insights by Application

The application segment of healthcare engineered materials has been divided into disposables, adhesives, devices, wearable, and others. The disposables segment dominated the global market in 2020 owing to greater market demand for surgical instruments, diagnostic disposables, and accessories, among others. These are developed for single-use due to concerns regarding the spread of diseases. These products are cost-effective and easy to process.

Geographic Overview

Asia Pacific healthcare engineered materials is expected to grow at a significant rate during the forecast period. Increasing population, rising cases of lifestyle-associated diseases, and improving healthcare infrastructure have increased the region's demand for engineered materials in healthcare.

Growing research & development activities and technological advancements in 3D printing and medical manufacturing are some factors attributed to the growth of this region. The outbreak of COVID-19 has significantly increased the demand for disposables and devices such as ventilators to care for critically ill patients in the region.

Competitive Landscape

The leading players in the medical engineered materials industry include 3M Company, Arkema, BASF SE, Celanese Corporation, Covestro AG, DSM, DuPont, Eastman Chemical Company, Ethicon Inc., Evonik Industries AG,Henkel AG & Co. KGaA, Huntsman Corporation, Koninklijke DSM N.V., Nitto Denko, SABIC, Sekisui Chemical, Solvay S.A., Teknor Apex Company, Trelleborg AB, Trinseo.

To expand their customer base and strengthen their market presence, these companies are expanding their presence across various geographies and entering new markets in developing regions. To meet rising consumer demands, companies are also introducing new innovative products to the engineered materials market.

Medical Engineered Materials Market Report Scope

Report Attributes

Details

Market size value in 2020

USD 15.86 billion

Revenue forecast in 2028

USD 44.62 billion

CAGR

12.9% from 2021 - 2028

Base year

2020

Historical data

2016 - 2019

Forecast period

2021 - 2028

Quantitative units

Revenue in USD million/billion and CAGR from 2021 to 2028

Segments covered

By Type, By Application, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Key Companies

3M Company, Arkema, BASF SE, Celanese Corporation, Covestro AG, DSM, DuPont, Eastman Chemical Company, Ethicon Inc., Evonik Industries AG,Henkel AG & Co. KGaA, Huntsman Corporation, Koninklijke DSM N.V., Nitto Denko, SABIC, Sekisui Chemical, Solvay S.A., Teknor Apex Company, Trelleborg AB, Trinseo.

Key Take-Away
Polaris Market Research
Medical Engineered Materials Market | Growth, Share, Size, Report 2028