Global Medical Elastomers Market was valued at USD 6.6 billion in 2019 and is Expected to Reach USD 10.0 billion by 2025, Observing a CAGR of 7.2% during 2020–2025

Published Date: Nov, 2019

The global medical elastomers market was valued at USD 6.6 billion in 2019 and is expected to reach USD 10.0 billion by 2025, growing at a CAGR of 7.2% during 2020-2025. The availability of multiple types of elastomers in the medical elastomers market makes it a very competitive market, where manufacturers need to constantly invest in the market in order to attain a competitive edge by expanding their product portfolio, new product development, and others. Also, survival of new entrants is tough, as it is capital intensive market and also highly regulated.

Medical tubes category held the largest share in the medical elastomers market in 2019

On the basis of application, the medical elastomers market is categorized into medical tubes, catheters, syringes, gloves, medical bags, implants, and others. Of all these, medical tubes segment held the largest share in the market in 2019, as it allows softening without plasticizers and helps in the PVC free production of medical tubes. The demand of medical tubes is increasing in the diagnosis and treatment of disease, resulting in the increase of medical elastomers market growth.

However, the implants application is projected to grow at the highest CAGR in the coming years, which is attributed to the increasing demand for prosthetic implants and orthopedic implants.

Geography Insight

Asia-Pacific is expected to lead the medical elastomers market in the coming years, due to the expanding medical industry in the region. The medical industry in countries such as China and India are rapidly growing, primarily due to growing population, which is increasing the demand of medical devices, equipment, and others in the region. According to export.gov, in 2016, the Chinese medical device industry registered a growth of 20.1% as compared to 2015. The growth was majorly fueled by the hospital procurements to meet the need of the growing population.

Competitive Insight

Some of the key players operating in the medical elastomers market are BASF SE, DowDuPoint Inc., Solvay SA, Royal DSM, Eastman Chemical Company, Celanese Corporation, Polyone Corporation, Trelleborg AB, Kuraray Co., Ltd., RTP Company, and Foster Corporation.

Key Takeaway from the Report:

  • Among all the types, thermoplastic elastomers segment captures larger market share in 2019.
  • Of all the application, medical tubes application category accounted for the foremost share in 2019.

The Report Offers:

  • Historical market estimate for the years 2015–2019 and forecast for the years 2020–2025
  • Insight on current market trends, market dynamics, key opportunities and major challenges in the industry
  • Market insights by in-depth segmentation with industry dynamics.
  • Competitive analysis and benchmarking of the industry leaders and their product offerings
  • Profiles of leading players and innovators, their financial overview and product portfolio
  • Analysis of key industry trends and recent developments
  • Value chain analysis and distribution channel analysis with opportunity assessment
  • Market share analysis of major players

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The report provides the market value for the base year 2019 and a yearly forecast till 2025 in terms of revenue (USD Million). The report segments the global medical elastomers market on the basis of type, application, and region.

Global Medical Elastomers Market Coverage

Type Insight and Forecast 2015 – 2025

  • Thermoplastic
  • Thermoset

Application Insight and Forecast 2015 – 2025

  • Medical Tubes
  • Catheters
  • Syringes
  • Gloves
  • Medical Bags
  • Implants

Geographical Segmentation

Medical Elastomers Market by Region

North America

  • By Type
  • By Application
  • By Country – U.S., Canada, and Mexico

Europe

  • By Type
  • By Application
  • By Country – Germany, U.K., France, Italy, Spain, and Rest of Europe

Asia-Pacific (APAC)

  • By Type
  • By Application
  • By Country – China, Japan, India, South Korea, Singapore, and Rest of Asia-Pacific

Rest of the World (RoW)

  • By Type
  • By Application
  • By Country – Brazil, South Africa, Saudi Arabia, and Other Countries
Our Industry
Global Medical Elastomers Market was valued at USD 6.6 billion in 2019 and is Expected to Reach USD 10.0 billion by 2025, Observing a CAGR of 7.2% during 2020–2025