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The global pharmaceutical polymers / medical polymers market is estimated to be worth USD 20 billion in 2023 and is expected to grow at compounded annual growth rate (CAGR) of 7.3% during the forecast period 2023-2035. Polymers represent a versatile class of materials composed of multiple simple chemical units, commonly known as monomers. Polymers are classified as natural and synthetic polymers based on raw materials. Some examples of synthetic polymers include thermoplastic polymers, elastomers, and fibers, whereas naturally occurring polymers include natural rubber, bio-based polymer and wood. It is worth highlighting that polymers are economical, highly durable, resistant to chemicals, possess considerable strength and light-weight in nature. As a result, polymers are used in various industries, including automotive, agriculture, construction, electronics, medical and textile. Specifically, medical grade polymers play a crucial role in the development and manufacturing of drug formulations (to enhance the solubilization of poorly soluble drugs, improve stability or encapsulate the drug to mask their unpleasant taste), sustained release drug delivery systems (to control the release of drug over time or target specific tissues) and medical devices (such as artificial joints, biosensors, dental implants, microfluidic devices, orthopedic implants and stents). Pharmaceutical polymers / medical polymers have also played a significant role in the domain of tissue engineering, as they are useful in the creation of scaffolds that can be employed to repair damaged tissues and wound care. Further, medical grade polymers are used in 3D bioprinting to develop hydrogels / bioinks for soft tissue generation and other supporting structures. Driven by the significant advancements in this industry and rising demand for novel therapies and medical devices, the global pharmaceutical polymers / medical polymers market is likely to witness substantial market growth during the forecast period.
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The Pharmaceutical Polymers / Medical Polymers Market - Distribution by Type of Polymer (Thermoplastic Polymers, Elastomers, Thermoset Polymers and Others), Area of Application (Medical Devices, Excipients, Packaging and Others) and Key Geographical Regions (North America, Europe, Asia-Pacific, Latin America, and Middle East and North Africa): Industry Trends and Global Forecasts, 2023-2035 market report features an extensive study of the current market landscape, market size and future opportunities for the pharmaceutical polymer / medical polymer companies, during the given forecast period. Further, the market report highlights the efforts of several stakeholders engaged in this rapidly emerging segment of the pharmaceutical industry. Key takeaways of the pharmaceutical polymer / medical polymer market report are briefly discussed below.
Owing to various benefits, including light weight, high durability and inertness, economical, and ease in manufacturing, medical grade polymers are widely adopted across the pharmaceutical and medical device industry for various high end applications. It is worth highlighting that there is a growing demand for biodegradable polymers in healthcare markets owing to a significant upsurge in the demand for medical implants and other medical devices.
Over the years, technological advancements in the medical polymers market have led to the development of novel, functional biodegradable polymers and smart polymers (also known as stimuli-responsive polymers or intelligent materials). In recent years, polymers have also been modified to exhibit antibacterial properties, thereby, promoting their use in catheters and wound dressings to prevent infections. Another key trend observed in the pharmaceutical polymers / medical polymers industry is recycling of polymer-based products in order to lower the production costs, optimize the usage of resources, reduce the waste generated and create a sustainable environment. In November 2022, Solvay, an advanced polymer manufacturer, entered into an agreement with Ostium to enable the mechanical recycling of end-of-life single-use surgical instruments molded in glass-fiber reinforced Ixef® polyarylamide (PARA) from Solvay’s portfolio of specialty polymers. The continuous advancements in medical polymers industry and growing demand for novel medical grade polymers is expected to drive the pharmaceutical polymers / medical polymers market growth during the forecast period.
The current landscape of pharmaceutical polymer / medical polymer companies feature a mix of close to 150 large, mid-sized and small companies, which have the required expertise to produce polymers for the biopharma / medical industry. Majority of the players are focused on the manufacturing of amino-based polymers, followed by those having the capabilities to produce polysaccharide-based polymers. It is worth highlighting that 60% of the medical polymer companies manufacture synthetic polymers. Further, medical grade polymers are poised to play a significant role in shaping up the future market landscape, by enabling the development of new therapeutic modalities and medical devices that were previously considered unattainable.
Currently, several partnerships have been inked by various industry and non-industry players engaged in the development of medical grade polymers. It is worth highlighting that partnership activity within this industry has increased at a CAGR of around 15%, between 2019 and 2022. Majority of the agreements related to pharmaceutical / medical polymers were observed to be focused on product development, representing nearly 30% of the total partnerships. Further, most of the intercontinental, as well as intracontinental deals have been inked by players based in Europe. For instance, in May 2022, Arkema forged an agreement with Foster / Mednet for the supply of Arkema’s High Performance Polymers, including Pebax® MED, Rilsan® MED, Rilsamid® MED, Rilsan® Clear MED and Kynar® MED products for medical applications, in all countries in Europe, Middle East and Africa.
Additionally, there have been mergers and acquisitions in the medical polymers market. In 2015, US based Polymers Group Inc. changed its name to Avintiv Inc. and was acquired by Berry Plastics in July 2015. At the time of the acquisition, the thermoplastic polymer manufacturer was generating 12% of its revenues from serving the healthcare industry . The acquirer, Berry Plastics, is a plastic packaging manufacturer.
The global market for pharmaceutical polymers / medical polymers is estimated to be worth USD 20 billion in 2023. Driven by the indubitably rising need for economical, biodegradable and eco-friendly medical grade polymers, the pharmaceutical polymers / medical polymers market is anticipated to grow at a CAGR of 7.3% during the forecast period. Within medical polymers market, medical plastics market is a fast growing segment. Specifically, in terms of type of polymer, the market is anticipated to be primarily driven by thermoplastic polymers. Further, in the near future, close to 75% of the market share is likely to be represented by players based in North America and Europe.
Examples of key medical polymer companies (the complete list of players is available in the full report) include Americhem, Borealis, Celanese, Corel Pharma Chem, Eastman, Henkel, KRAIBURG TPE, Kuraray, Lubrizol Life Science, LyondellBasell, Phon Tech, SEQENS, Sumitomo Chemical, Solvay and Zylog ElastoComp.
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Several recent developments have taken place in the field of medical polymers. We have outlined some of these recent initiatives below. These developments, even if they took place post the release of our market report, substantiate the overall market trends that have been outlined in our analysis.
The study presents an in-depth analysis of the various firms / organizations that are engaged in this domain, across different segments as defined in the below table:
Key Report Attributes | Details | |
Forecast Period |
2023 – 2035 |
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Type of Polymer |
Thermoplastic Polymers, Elastomers, Thermoset Polymers, Others |
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Area of Application |
Medical Devices, Excipients, Packaging, Others |
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Key Geographical Regions |
North America, Europe, Asia-Pacific, Latin America, Middle East and North Africa, Rest of the World |
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Key Companies Profiled |
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Customization Scope |
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PowerPoint Presentation |
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The research report presents an in-depth analysis, highlighting the capabilities of various stakeholders in this market, across different geographies. Amongst other elements, the market report includes:
One of the key objectives of this market report was to estimate the current market size, opportunity and the future growth potential of the pharmaceutical polymers / medical polymers market, over the forecast period. We have provided informed estimates on the likely evolution of the market for the forecast period, 2023-2035. Our year-wise projections of the current and future opportunity have further been segmented based on relevant parameters, such as type of polymer (thermoplastic polymers, elastomers, thermoset polymers and others), area of application (medical devices, excipients, packaging and others) and key geographical regions (North America, Europe, Asia-Pacific, Latin America, and Middle East and North Africa). In order to account for future uncertainties associated with some of the key parameters and to add robustness to our model, we have provided three market forecast scenarios, namely conservative, base and optimistic scenarios, representing different tracks of the industry’s evolution.
The opinions and insights presented in the report were influenced by discussions held with senior stakeholders in the industry. The report features detailed transcripts of interviews held with the following industry stakeholders:
All actual figures have been sourced and analyzed from publicly available information forums and primary research discussions. Financial figures mentioned in this report are in USD, unless otherwise specified.
Answer: Pharmaceutical polymers / medical polymers are commonly used as binders, disintegrants, coatings, drug carriers, stabilizers, taste masking agents and release controlling agents.
Answer: Some commonly used polymers in the pharmaceutical / medical sector include polyethylene, polyethylene glycol, polyglycolic acid, dextran and gelatin.
Answer: At present, close to 150 companies claim to manufacture different compositions of polymers, for a wide range of pharmaceutical / medical applications.
Answer: The global medical polymers market is estimated to be worth USD 20 billion in 2023.
Answer: The global pharmaceutical polymers / medical polymers market is expected to grow at a CAGR of ~7.5% from 2023 to 2035.
Answer: Specifically, in terms of type of polymer, majority share of the market is likely to be captured by thermoplastic polymers.
Answer: At present, North America captures around 50% of the global pharmaceutical polymers / medical polymers. However, the pharmaceutical polymers / medical polymers market in Asia Pacific is anticipated to grow at a relatively faster pace (9.1%), in the long term.
Answer: Currently, the medical devices segment dominates the pharmaceutical polymers / medical polymers market. However, the market is anticipated to be driven by polymers used as excipients in drug formulations, in the foreseen future.
Answer: Product development agreements, acquisitions and distribution agreements are the most common types of partnerships inked by stakeholders in the pharmaceutical polymer / medical polymer industry.