The global medical elastomers market size is expected to reach USD 11.57 Billion in 2028 and register a CAGR of 7.8%, over the forecast period

NEW YORK CITY, NY, UNITED STATES, October 19, 2021 /EINPresswire.com/ -- Major factors driving market revenue growth are increasing requirements for medical devices, increasing global aging population, rapid advancements in thermoplastic elastomer processing technologies, and preference for single-use medical devices. Elastomers are types of natural or synthetic polymers that have elastic properties. Medical elastomers are used to manufacture different medical products.

Medical elastomers are widely used in the manufacturing process of medical tubes, catheters, syringes, implants, and others due to their different physical properties such as design flexibility, durability, biocompatibility, and effective performance. Medical tubes segment accounted for largest revenue share in the global market in 2020. This can be attributed to increasing application of medical tubes in diagnosis and treatment processes of different diseases. Asia Pacific market is expected to register faster revenue CAGR over the forecast period. This can be attributed to increasing aging population, steady advancements in the healthcare sector, and increasing investment by private investors in research and development activities for elastomers

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Some major players in the market include:
BASF SE, DowDuPont, Eastman Chemical Company, Royal DSM, Trelleborg AB, Momentive Performance Materials Inc., Celanese Corporation, PolyOne Corporation, Teknor Apex, and Kuraray Co. Ltd.

The global materials & chemicals industry has gained major momentum over recent years, owing to many favorable factors. Major factors contributing to industry revenue growth include rise in global populace and rapid surge in demand for essential consumer goods including soaps, detergents, personal care & hygiene products, cosmetics, and other consumer products. Other factors driving industry revenue growth are extensive use of raw materials & chemicals in various industries including buildings & construction, agriculture, food & beverage, power & energy, pulp & paper, textile, automotive, and consumer goods industries, rising environmental awareness among consumers worldwide, growing demand for eco-friendly and sustainable materials and chemicals, and rising demand for organic, high-performance chemicals.

Some Key Highlights From the Report:
In August 2021, LG Chem invested USD 2.21 billion in production of eco-friendly materials in South Korea. The company will produce polybutylene adipate terephthalate and polyolefin elastomer for various applications in automotive, wire and cable coatings, films, medical, adhesives, footwear, and foam industries.

Thermoplastic elastomers segment accounted for largest revenue share in the global market in 2020. This can be attributed to rising demand for thermoplastic elastomers for manufacturing catheters, medical tubes, medical bags, and other medical devices.

North America accounted for a significantly large revenue share in the global market in 2020. Rising demand for medical devices such as medical tubes, syringes, catheters, and others, and robust presence of major market players are some key factors driving revenue growth of the market in this region.

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For the purpose of this report, Reports and Data has segmented the medical elastomers market based on product type, technology, end-use, and region:

Product Type Outlook (Revenue, USD Billion; 2018-2028)

Thermoset Elastomers

Thermoplastic Elastomers

Technology Outlook (Revenue, USD Billion; 2018-2028)

Extrusion Tubing

Compression Molding

Injection Molding

Others

End-Use Outlook (Revenue, USD Billion; 2018-2028)

Medical Tubes

Catheters

Syringes

Implants

Others

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Regional Outlook (Revenue, USD Billion; 2018-2028)

North America

Europe

Asia Pacific

Latin America

Middle East & Africa

Key questions answered in the report

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Research Methodology
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Research assumptions Research data including primary and secondary data
Primary data includes breakdown of primaries and key industry insights
Secondary data includes key data from secondary sources

Table Of Content:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2020-2028
Chapter 3. Indicative Metrics
Chapter 4. Medical Elastomers Market Segmentation & Impact Analysis
4.1. Medical Elastomers Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. Increasing awareness for advanced medical facilities
4.2.2.2. Rapid development of Healthcare industry
4.2.3. Market restraints analysis
4.2.3.1. High initial investments
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter’s Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis
4.9. Customer Mapping
4.10. Covid-19 Impact Analysis
4.11. Global Recession Influence
Continue…

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Reports and Data
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