- Lipid Resistant Grade segment to chart notable growth over the forecast period
- North America to be at the forefront of growth in the medical polycarbonate market
- Growing geriatric population, increase in incidence of chronic illnesses to drive growth
ALBANY, New York, May 13, 2020 /PRNewswire/ -- From 2020 to 2030, the global medical polycarbonate market is set to grow at a respectable pace of CAGR (Compound Annual Growth Rate) of 3.5%. This will help the market worth grow from approximately USD 1 billion in the year 2019 to USD 1.5 billion in 2030.
Transparency Market Research states, "One of the biggest uses of medical polycarbonates is seen in the development of lightweight and unobtrusive medical devices. This is also the reason that the material is acting as boon for medical professional dealing with ongoing pandemic. Owing to shortage of PPE, one-piece 3D face shields are saving the day for them currently."
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Key Findings of Global Medical Polycarbonate Market Study:
- Excellent capability to deliver non-water-soluble drugs in IV to help lipid resistant sub-segment in the grade category to chart notable growth over the forecast period
- This is also known to reduce stress cracking, thereby contributing to notable demand generation in this segment of the market
- North America to dominate the global medical polycarbonate market, region-wise
Get an in-depth view of the leading trends operating in Medical Polycarbonate Market (Grade: Lipid-resistant Grade and High-temperature Grade; Processing Technology: Extrusion, Injection Molding, and Blow Molding; and Application: Fluid Delivery & IV Connection Components, Renal Dialysis Products, Cardiovascular Devices, Surgical Instruments, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 – 2030 at https://www.transparencymarketresearch.com/medical-polycarbonate-market.html
Key Drivers of Growth in Global Medical Polycarbonate Market:
As per Transparency Market Research, the global medical polycarbonate market is on an upward growth trajectory owing to numerous reasons. The list includes its perfect fit for the medical industry, owing to favorable properties such as high biocompatibility, superior strength and clarity, and high impact resistance. Besides, it is worth pointing out here, that it is a good substitute to metal and glass as it reduces chances of life threatening material failures. Other important factors are outlined below:
World over, population is ageing rapidly; by 2050, one in every six people would be aged 65 and above
- Incidence of chronic illness is on a steep upward curve owing to poor lifestyle choices, hectic and stressful schedules, etc.
- In North America and Europe, one in every four people will be aged 65 and above by 2050
- The United States of America has witnessing six in every ten people suffering from a chronic illness
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Regional Analysis of Global Medical Polycarbonate Market:
- North America to top regional charts of global medical polycarbonate market over the forecast period
- Presence of top manufacturers such as GOEX Corporation and Trinseo S.A. supporting North American dominance
- Increase in incidence of chronic illnesses to contribute positively to this growth by generating demand for surgical instruments, fluid delivery and IV components, and so on
- A notable growth rate would be observed in the Asia Pacific (APAC) region over the forecast period
- Government support to be a major factor of growth; India and China to be at the forefront of growth in APAC
Analyze medical polycarbonate market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study
Competitive Landscape of Global Medical Polycarbonate Market:
The global medical polycarbonate market has a decent number of players occupying its vendor landscape. However, the top few players hold a sizeable share of the market. Renowned names include Covestro AG, Mitsubishi Engineering-Plastics Corporations, SABIC, Trinseo S.A., Lotte Chemical Corporation, GOEX Corporation, and Chi Mei Corp, among others.
A variety of strategies are often deployed by top players, who are known for their active and proactive measures, used to strengthen their market position. Names like Covestro AG are known for product offerings – improvement and new launches. The company is also involved in expanding capacity.
Recently, three medical grade polycarbonates were launched by it for surgical devices and drug delivery. Product lines are Makrolon M204 LF, Makrolon M402 LF, and Makrolon M404 LF.
Global Medical Polycarbonate Market: Segmentation
Medical Polycarbonate Market, by Grade
- Lipid-resistant Grade
- High-temperature Grade
Medical Polycarbonate Market, by Processing Technology
- Injection Molding
- Blow Molding
Medical Polycarbonate Market, by Application
- Fluid Delivery & IV Connection Components
- Renal Dialysis Products
- Cardiovascular Devices
- Surgical Instruments
- Others (including Medical Packaging, Lenses, Catheters, and Syringes)
Medical Polycarbonate Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
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