Medical Engineered Materials Market Size Worth $62.50 Billion By 2032 | CAGR: 13.9%

The global Medical Engineered Materials market size is expected to reach USD 62.50 billion by 2032, according to a new study by Polaris Market Research. The report “Medical Engineered Materials Market Share, Size, Trends, Industry Analysis Report, By Type (Medical Foams, Medical Plastics, Medical Adhesives, Medical Elastomer, Medical Films); By Application; By Region; Segment Forecast, 2023 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The market is experiencing notable advantages due to the swift uptake of 3D printing or additive manufacturing technologies, enabling the production of intricate and customized engineered biomaterials, implants, prosthetics, and organ models. Specifically, 3D bioprinting allows for the precise layer-by-layer deposition of biomaterials and living cells, facilitating the creation of intricate tissues and organs. Companies are harnessing 3D printing to design implants and devices tailored to the unique structures of individual patients. The ability for customization and on-demand manufacturing plays a pivotal role in the widespread adoption of 3D printing in the realm of engineered biomaterials, expanding its applications.

The market is experiencing substantial advancements in crafting porous tissue engineering scaffolds through the utilization of sophisticated biomaterials, serving as a significant trend propelling the market growth. The strategic design of scaffolds, featuring controlled biodegradability, porosity, interconnectivity, and optimized surface chemistry, is instrumental in facilitating tissue regeneration. Innovations such as electrospinning play a crucial role in producing nanofiber and microfiber scaffolds that closely mimic the extracellular matrix. Companies are integrating cells, growth factors, peptides, and other components into these scaffolds to engineer functional living tissues and organs. The continual expansion in scaffold design and fabrication technologies paints a positive picture for future growth prospects.

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Additionally, a study published in the National Library of Medicine in June 2021 highlighted the significant impact of coronary artery disease (CAD) on global health. CAD alone is responsible for approximately 610,000 deaths annually, accounting for an estimated one in four deaths and making it the foremost cause of mortality in the United States. With the incidence of CAD rising, there is a growing demand for effective Medical Engineered Materials devices to address this pressing medical need. Consequently, this factor is projected to drive the demand for Medical Engineered Materialss throughout the forecast period.

Medical Engineered Materials Market Report Highlights

• The Medical disposables category held the leading market share throughout the forecast period. Within the market, medical plastics stand as the most extensive segment, playing a crucial role in various healthcare applications, including the manufacturing of medical devices, tools, and diagnostic equipment, thereby contributing significantly to the overall market size. The growth of healthcare infrastructure in emerging economies and the increasing incidence of chronic diseases are expected to boost the medical devices market, thereby generating heightened demand for medical plastics.
• In 2022, the Medical Plastics segment claimed the highest revenue share. Within the market, medical plastics stand as the most extensive segment, playing a pivotal role in various healthcare applications. Their application extends to the production of medical devices, tools, and diagnostic equipment, making a substantial contribution to the overall market size. The growth of healthcare infrastructure in emerging economies and the increasing incidence of chronic diseases are expected to fuel the medical devices market, thereby generating heightened demand for medical plastics.
• In 2022, Asia Pacific emerged as the leading market. The healthcare engineered materials market in the Asia Pacific region is expected to witness significant growth in the forecast period. The region's increasing population, a surge in lifestyle-related diseases, and improvements in healthcare infrastructure have contributed to the heightened demand for engineered materials in the healthcare sector.
• The global key market players include B. Braun Melsungen AG, BASF SE, Celanese Corporation, Covestro AG, DSM, DuPont de Nemours Inc., Eastman Chemical Company, Evonik Industries AG, Huntsman Corporation, Johnson & Johnson, Medtronic PLC, Nitto Denko Corporation, SABIC, Sekisui Chemical Co., Ltd., Smith & Nephew PLC, Solvay, Teknor Apex Company, Trelleborg AB, WL Gore & Associates Inc., Zimmer Biomet Holdings Inc..

Polaris Market Research has segmented the Medical Engineered Materials market report based on type, application, and region:

Medical Engineered Materials, Type Outlook (Revenue - USD Billion, 2019 - 2032)

• Medical Foams
• Medical Plastics
• Medical Adhesives
• Medical Elastomer
• Medical Films

Medical Engineered Materials, Application Outlook (Revenue - USD Billion, 2019 - 2032)

• Advanced wound care
• Medical disposables
• Medical wearables
• Medical devices

Medical Engineered Materials, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia

• Latin America

• Argentina
• Brazil
• Mexico

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa

Medical Engineered Materials Market Report Scope