Study of Driving factors of Medical Elastomer Market
Medical elastomer refers to the natural or synthetic polymer having elastic properties used for manufacturing medical products. Medical elastomers are of two types, thermoset elastomer, and thermoplastic elastomer. They have several applications such as Implants Syringes, Medical Bags, Gloves, Medical Tubes, and Others. They are extensively used in the manufacturing of cardiovascular devices, prosthetic devices, general medical care products, transdermal therapeutic systems, orthodontics, etc. the extensive use of the elastomers is due to biocompatibility, durability, design flexibility, and favorable performance/ cost ratios.
Drivers of medical elastomer market
The surge in demand for the safe and halogen-free polymers used in manufacturing medical products is boosting the medical elastomers market growth. Growing awareness and adoption of the high-quality healthcare products will also drive the demand for medical elastomers. The shift of medical device manufacturers towards thermoplastic elastomers due to its high flexibility/elasticity is also boosting the market growth.
Hindrances and opportunities
Biocompatibility concerns of some elastomers coupled with the stringent regulatory requirements across the globe might hamper the growth of the medical elastomers market during the given time frame. However, increasing expenditure on medical and healthcare segment is expected to increase the medical elastomers market size.
Geographically, North America has a significant market share of the global medical elastomers market share. The market share is projected on account of the presence of key manufacturers in the region particularly the U.S. Moreover, increasing medical tubing operations have further boosted the market growth in the region. The market of Asia Pacific region is expected to witness rapid growth owing to the growing population and rising healthcare expenditure in the region. The demand for single-use medical devices such as syringes, gloves, and various others is increasing rapidly which is boosting the market growth in the region.
Medical elastomer market analysis by type
Medical elastomers are of two types, thermoset elastomer, and thermoplastic elastomer. The thermoplastic segment of medical elastomers is expected to have a significant market share on account of their several benefits such as low cost, bio durability, biocompatibility, transparency, and high microbial stability. Shift towards thermoplastic elastomers from PVC for using plasticizer-free materials I boosting the growth of the market. Increasing demand of thermoplastic elastomers for elastomeric medical applications, such as septum, stoppers and syringe plungers is boosting its market growth. Medical elastomers market trend is positive due to the shift towards thermoplastic elastomers.
Medical Tubes expected to have a significant market share
The medical and healthcare sector is witnessing rapid growth in the market and the growth of the medical sector demand of medical elastomers has also increased. There are several applications of medical elastomers such as Implants Syringes, Medical Bags, Gloves, Medical Tubes, and Others. Medical tubes out of those segments are expected to have a significant market share on account of its increasing use in diagnosis and treatment of diabetes and cancer. Increasing use of medical elastomers in the manufacturing of medical tubes due to low cost, bio durability, biocompatibility, and easy availability is expected to boost the market growth.