Global medical polymer market to hit $3.5 billion in 2018

PLASTICS & RUBBER WEEKLY

Published: September 18, 2013 12:26 pm ET
Updated: September 18, 2013 12:27 pm ET

Related to this story

Topics Materials, Medical, Materials Suppliers

The value of the global medical polymer market is set to rise by more than half in the next five years, boosted by an aging population and developing markets.

A new report from US research group NanoMarkets estimates that the market will grow from $2.3 billion to more than $3.5 billion, a rise of more than 52 percent, between now and 2018.

According to NanoMarkets implants currently consumer around half of the world's medical polymer production and are expected to account for $1.6 billion in polymer sales by 2018.

Lower in cost and lighter than metallic alternatives such as titanium, medical polymers are proving popular among device manufacturers and the medical profession alike.

Meanwhile sales of polymers destined for diagnostic systems will likely reach around $1.04 billion in 2018.

In vitro diagnostics account for between 50,000 and 60,000 metric tons of specialized and commodity plastics annually, NanoMarkets said.

Leading medical polymers include acrylic, styrenics and polypropylene, while the market is seeing the increased use of more comfortable' material, such as elastomers, to provide a soft-touch feel to products.

More products, perhaps even entire prostheses, will increasingly be made from biodegradable polymers, NanoMarkets added.


Comments

Global medical polymer market to hit $3.5 billion in 2018

PLASTICS & RUBBER WEEKLY

Published: September 18, 2013 12:26 pm ET
Updated: September 18, 2013 12:27 pm ET

Post Your Comments


Back to story


More stories

Image

Two medical device makers add specialty products through acquisitions

July 28, 2014 3:02 pm ET

The medical merger mania continues this summer as two more medical device manufacturers are swallowed up by bigger competitors.    More

Image

Formosa to be compensated for Vietnam riot

July 28, 2014 1:44 pm ET

Taiwan's Formosa Plastics Group will receive $2.39 million from the Vietnamese government and insurance companies for damages suffered during the...    More

Image

Ukraine's Group DF may be forced to sell Crimea-based additives plant

July 28, 2014 10:12 am ET

Group DF, the industrial business of Ukrainian tycoon Dmitry Firtash, may be forced to sell off Eastern Europe's biggest producer of titanium oxide,...    More

Image

DuPont resins help take Nike golf balls 'Fore!'ward

July 25, 2014 1:07 pm ET

It may be difficult to imagine just how much science, not to mention rubber and plastic components, go into a golf ball. But global giant DuPont Co....    More

Image

Bioplastics maker wins government funding

July 25, 2014 12:13 pm ET

Canadian bioplastics maker Solegear Bioplastics Inc. has won $1.6 million in funding from the government-sponsored Western Innovation Initiative (WINN...    More

Market Reports

Plastics Recyclers Data Report & Directory

This exclusive MS Excel database contains all the companies from Plastics News' ranking of top North American Recyclers and Brokers by reprocessed volume and also includes a directory with materials processes, services offered and company contact information. Data is based on primary research by PN editorial staff.

Learn more

2014 Injection Molding Industry Report

GROWTH, OPPORTUNITY IN SIGHT FOR INJECTION MOLDERS IN 2014

In the wake of the economic turbulence earlier in this decade, molders today find themselves in much better shape. Molders are gaining a competitive advantage by investing in people, equipment and seeking inroads into new markets on a global scale.

Growth in the injection molding industry is going to be driven by low financing costs and a continued move to reshore some business.

Learn more

Shale Gas Market - Analysis of North American Region

This report highlights the impact of shale-based natural gas on the North American plastics market and features an in-depth analysis of production trends in the United States during 2013 and a forecast for 2014 and beyond.

Learn more

Upcoming Plastics News Events

September 10, 2014 - September 12, 2014Plastics Caps & Closures 2014

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

More Events