Market Size of Medical Elastomers Industry
| Study Period | 2019 - 2029 |
| Market Volume (2024) | 3.50 Million tons |
| Market Volume (2029) | 4.94 Million tons |
| CAGR (2024 - 2029) | 7.12 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
Major Players.webp)
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Medical Elastomers Market Analysis
The Medical Elastomers Market size is estimated at 3.5 Million tons in 2024, and is expected to reach 4.94 Million tons by 2029, growing at a CAGR of 7.12% during the forecast period (2024-2029).
The market was negatively impacted by COVID-19 in 2020. The nationwide lockdowns and stringent social distancing mandates led to supply chain disruptions across different segments of the market. However, the market is expected to grow steadily owing to increasing investments in healthcare.
- The demand for safe, halogen-free polymers and the shift in the medical industry toward wearable health devices and medical tools that can talk to each other from the outside are the main things driving the market.
- Decreasing usage of single-use devices and the increasing prices of silicone are the factors that may slow down the market's growth. The medical elastomer industry is moving toward sustainable and green projects as environmental awareness grows.
- The development of bio-based thermoplastic elastomers is the key market opportunity.
Asia-Pacific dominated the market across the globe, with the largest consumption in countries such as China, India, etc.
