Global Medical Polymers Market 2017-2021
About Medical Polymers
Polymers are composed of many repeated subunits of monomer. Polymers find a wide range of applications in the medical industry, including implants, diagnostic systems, and accessories. Medical polymers are lighter in weight as compared with other counterparts such as metals and thus, are preferred for lightweight applications. In addition, biodegradable polymers also eliminate the need for repeated surgery in case of implants for removing the implanted device. The global medical polymers market is anticipated to grow at CAGR of 8.15% during the forecast period.
Technavio’s analysts forecast the global medical polymers market to grow at a CAGR of 8.15% during the period 2017-2021.Covered in this report
The report covers the present scenario and the growth prospects of the global medical polymers market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of medical polymers for applications such as implants, diagnostic systems, and hospital accessories.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Medical Polymers Market 2017-2021
Technavio recognizes the following companies as the key players in the global medical polymers market: Celanese, Covestro, Dow Chemical, Eastman Chemical, and Evonik
Other Prominent Vendors in the market are: Borealis, DSM, DuPont, ExxonMobil, Huizhou Foryou Medical Devices, Kraton Performance Polymers, and Victrex
Commenting on the report, an analyst from Technavio’s team said: “Biodegradable plastics are widely used for packaging applications; however, their use is increasing in other applications also including the medical industry. Biodegradable plastics are preferred in implants as these have outcome and performance advantages over alternatives such as drugs. Bioplastics eliminate the need for the second surgery for the removal of the device, thus, reducing the total treatment time of the patient. Removal of a metal-based implant sometimes leads to refracture. This can be avoided by using biodegradable polymers as they prevent such refractures.”
According to the report, open spinal surgeries can cause retraction of the muscles that can damage the soft tissues, which results in post-operative pain and longer recovery period. This led to the shift from open spinal procedures to MI methods for the implantation of devices since 2005. Polymers find various applications in MI spine surgeries. For instance, hydrogel is used for increasing the disc volume. Hydrogel increases the disc diameter and acts as a water-binding agent. The benefits of MI spinal surgeries, particularly of MI lumbar fusion and facet fixation, have led many people to undergo these procedures, fueling the demand for medical polymer use in MI spine surgeries.
Further, the report states that healthcare reforms and reduction in medical expenditure have resulted in a decline in reimbursements being offered for spinal implant procedures. Insurers do not offer reimbursement coverage for all types of spinal surgeries, including MI spine procedures. For instance, insurance companies have implemented stringent policies for the approval of coverage for lumbar spine fusion surgeries.
Celanese, Covestro, Dow Chemical, Eastman Chemical, Evonik, Borealis, DSM, DuPont, ExxonMobil, Huizhou Foryou Medical Devices, Kraton Performance Polymers, Victrex.
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