Medical Elastomers Market - Segmented by Product Type, Application, and Geography - Growth, Trends, and Forecast (2020 - 2025)

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Medical Elastomers Market

The market for medical elastomers is expected to register a significant growth during the forecast period, 2018 to 2023.This notable growth is primarily driven by the rise in demand for safe and halogen-free polymers used in manufacturing medical products.

Rise in Demand for Safe and Halogen-free Polymers Used in Manufacturing Medical Products

Recently, medical applications today are becoming more demanding from both a performance and safety perspective. The medical industry has employed styrenic block copolymers (SBCs), a type of thermoplastic elastomer (TPE), for use in a wide range of medical products. The inherent low toxicity and compliance of TPE make it to comply with medical and food contact regulations in order to become a safe choice for specific materials, like medical tubes, orthopedic gels, patch adhesives, and medical bags. The continued advancement in extrusion and injection-moulding process development of SBCs further drives adoption into new application areas, which ultimately propels the market demand of overall medical elastomers market during the forecast period.

Thermoplastic Elastomers (TPE) Segment to Dominate the Medical Elastomers Market

Among the types, thermoplastic elastomers (TPE) segment is the largest market shareholder of the medical elastomers market. Many medical device companies are trying to proactively address new regulatory dynamics, like implementing strategic initiatives for phthalate-free patient environments, both in the United States and other global regions. TPEs are being viewed as a replacement for PVC in applications where phthalate- or plasticizer-free materials are desired. Globally, IV therapy producers are among the first in the medical device industry to transition from PVC to TPE materials. TPEs also are replacing thermoset rubbers (such as silicone, polyisoprene and butyl rubber) used in elastomeric medical applications, such as septum, stoppers and syringe plungers. This trend of shifting to TPE is gaining momentum and is highly likely to fuel the market growth of the global medical elastomers market in the coming years.

North America to Dominate the Medical Elastomers Market

North America represents the largest regional market with a share of more than 30% of the global medical elastomers market in 2017. This immense demand for medical elastomers is a consequence of the US, being largest hub for medical device manufacturing in the world. In addition, medical tubing operations in North America have further increased the demand for medical elastomers. The large market size coupled with the huge growth of North America is quite instrumental in expansion of the global medical elastomers market.

                                             Medical Elastomers Market

Key Developments in the Medical Elastomers Market

  • May 2018: Teknor Apex Co introduced new medical-grade thermoplastic elastomers for injection molded plunger stoppers at NPE2018: THE PLASTIC SHOW, which is held in between May 7-11 in Orlando, Fla
  • Aug 2017: Hydrogel coating produces more comfortable, enhanced medical elastomers

 Medical Elastomers Market Major Players:

  • Koninklijke DSM N.V.
  • Kuraray Co.Ltd.
  • PolyOne.
  • Kraton Chemical LLC,
  • Dow Corning Corporation (DowDuPont),
  • Colorite (Tekni-Plex),
  • and Teknor Apex, 
  • amongst others.

Reasons to Purchase Medical Elastomers Market Report

  • Identify the current and future prospects of the global medical elastomers market in the developed and emerging markets
  • Analyze various perspectives of the market with the help of Porter’s five forces analysis
  • Information about the growth of the various product segments that are expected to dominate the market
  • Regional analysis of the market
  • Identify the latest developments, market shares, and strategies employed by the major market players
  • 3-month analyst support, along with the Market Estimate sheet (in Excel)

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