New York, United States , Sept. 07, 2023 (GLOBE NEWSWIRE) -- The Global Medical Polyoxymethylene Market Size is to grow from USD 57.25 Billion in 2022 to USD 83.13 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 3.8% during the forecast period.
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Medical polyoxymethylene (POM), also known as acetal or polyacetal, is a versatile polymer gaining popularity in the healthcare industry. It exhibits excellent mechanical properties, biocompatibility, and chemical resistance, making it suitable for various medical applications. Medical POM is extensively used in the production of medical devices, surgical instruments, and implantable components due to its high strength, low friction coefficient, and dimensional stability. It offers superior resistance to sterilization methods like steam, ethylene oxide, and gamma irradiation, ensuring the safety and reliability of medical devices. With its biocompatible nature and resistance to body fluids, medical POM is a promising material that enhances the development of advanced medical technologies and improves patient outcomes.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on, "Global Medical Polyoxymethylene Market Size, Share, and COVID-19 Impact Analysis, By Type (Homopolymer POM and Copolymer POM), By Application (Dialysis Machine, Handles for Surgical Instruments, Inhalers, Insulin Pen, Medical Trays, Pharmaceutical Closures, and Others), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032." Get Detailed Report Here:
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The homopolymer POM segment is expected to grow at a CAGR of around 3.7% during the forecast period
Based on the type, the global medical polyoxymethylene market is segmented into homopolymer POM and copolymer POM. The homopolymer POM segment is expected to witness growth in the forecast period. Homopolymer POM is a type of POM that is composed of a single monomer. It offers excellent mechanical properties, such as high tensile strength and stiffness, making it suitable for a wide range of applications. The increasing demand for medical devices, surgical instruments, and implantable components, coupled with the need for materials with high mechanical performance, is driving the growth of the homopolymer POM segment. Its dimensional stability, chemical resistance, and biocompatibility make it a preferred choice in the healthcare industry. Additionally, advancements in manufacturing technologies and cost-effectiveness further contribute to the anticipated growth of the homopolymer POM segment in the forecast period.
The inhalers segment is expected to grow at a CAGR of around 3.5% during the forecast period
Based on the application, the global medical polyoxymethylene market is segmented into dialysis machine, handles for surgical instruments, inhalers, insulin pen, medical trays, pharmaceutical closures, and others. The inhalers segment is anticipated to experience significant growth in the forecast period within the Medical Polyoxymethylene (POM) market. This growth can be attributed to increasing prevalence of respiratory diseases, such as asthma and chronic obstructive pulmonary disease (COPD), is driving the demand for inhalation therapy. Inhalers provide a convenient and effective method for delivering medication directly to the lungs. POM's desirable properties, including high strength, dimensional stability, and biocompatibility, make it an ideal material for inhaler production. Additionally, the rising adoption of dry powder inhalers (DPIs) and metered-dose inhalers (MDIs) in the treatment of respiratory conditions further fuels the growth of the inhalers segment. The advancements in inhaler technologies and the focus on patient-centric designs also contribute to the expected growth in this segment.
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North America is predicted to grow at a higher CAGR of around 4.1% over the projected period
Based on region, North America is expected to experience higher growth in the forecast period in the Medical Polyoxymethylene (POM) market. This growth can be attributed to several factors, the region has a well-established healthcare infrastructure and a high demand for advanced medical technologies, driving the adoption of POM in medical applications. The presence of key market players, research and development facilities, and technological advancements in North America contribute to the market's growth potential. Additionally, increasing investments in the healthcare sector, favorable government policies, and a focus on innovation further support the growth of the Medical POM market in North America. These factors, combined, position the region for higher growth in the forecast period.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Some of the major players in the global medical polyoxymethylene market include Dow, Celanese Corporation, DuPont, Polyplastics Co. Ltd., Asahi Kasei Corporation, Jet-Hot, Inc., Mitsubishi Engineering-Plastics Corporation, SABIC, Avient Corporation, Innovative Plastics LLC, CLARIANT, Korea Engineering Plastics Co. Ltd., SPI Performance Coatings, China National Bluestar (Group) Co. Ltd., ICD High Performance Coatings, and EverCoat Industries Sdn Bhd and Among Others.
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Market Segment
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global medical polyoxymethylene market based on the below-mentioned segments:
Medical Polyoxymethylene Market, By Type
- Homopolymer POM
- Copolymer POM
Medical Polyoxymethylene Market, By Application
- Dialysis Machine
- Handles for Surgical Instruments
- Inhalers
- Insulin Pen
- Medical Trays
- Pharmaceutical Closures
- Others
Medical Polyoxymethylene Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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