Medical Elastomers Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR (2024 - 2029) | 7.12 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Market Concentration | Low |
Major Players.webp "Medical Elastomers Market Major Players")
*Disclaimer: Major Players sorted in no particular order |
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.
Medical Elastomers Market Trends
This section covers the major market trends shaping the Medical Elastomers Market according to our research experts:
Thermoplastic Elastomers (TPE) Segment to Register Fastest Growth
- Among the types, the thermoplastic elastomers (TPE) segment is the largest market shareholder in the medical elastomers market.
- In the medical industry, Styrenic Block Copolymers (SBCs) are mainly used in medical tubing and film applications. They are also used in the manufacturing of medical bags, wound care, equipment, packaging, and diagnostic products, including surgical drapery, needle shields, dental dams, drip chambers, exercise bands, syringe plunger tips, respiratory equipment, orthopedic parts, medical patches, and others.
- Thermoplastic polyurethanes (TPU) are long-chain linear polymers, which allow the polyurethane to be melted to form parts, and then the parts are solidified. The usage of TPU in medical applications is consistently increasing, owing to its high-performance characteristics, resistance to chemicals and oils, improved mechanical properties, and enhanced durability.
- Polyvinyl chloride (PVC) is a linear, thermoplastic, mostly amorphous polymer. Plasticized Polyvinyl Chloride (PVC-P) or flexible PVC is used for medical applications as it offers various properties when plasticized, including flexibility, strength, transparency, kink resistance, scratch resistance, gas permeability, biocompatibility, ease of bonding with common solvents or adhesives, and stability during gamma, ethylene oxide, or E-beam sterilization, among others.
- In the medical industry, TPVs are used in the manufacturing of O-rings, soft touch grips, peristaltic pump tubes, syringe tips, bottle droppers, stop seals and gaskets, valves, diaphragms, and tubing for various medical devices. They are also used in the medical industry as a gasket on syringe plungers.
Due to the aforementioned factors, the demand for thermoplastic elastomers in the global medical industry is likely to affect the market.
Asia-Pacific Region to Dominate the Market
- In the Asia-Pacific region, China and India are two major economies that are expected to dominate the market.
- China has doubled the amount, it had been pouring into public hospitals in the last five years, to USD 38 billion. It aims to raise the healthcare industry's value to USD 2.3 trillion by 2030, more than twice its size now.
- Furthermore, the Chinese government has started policies to support and encourage domestic medical device innovation providing opportunities for the market studied. The 'Made in China 2025' initiative improves industry efficiency, product quality, and brand reputation, which will spur the development of domestic medical device manufactures and will increase competitiveness.
- China is the second-largest healthcare market in the world. However, the country imports technologically high-end implants from advanced economies. The public hospitals in the country are leading consumers of medical devices in the country. In 2021, the public expenditure done on healthcare was 1.92 trillion yuan.
- In India, in late 2021, the Union Health Minister announced various plans of the Indian government to improve healthcare facilities in the country. The government plans to invest INR 64,180 crore in healthcare sector over the next six years in the country. The government plans to strengthen the existing 'National Health Mission' by developing capacities of primary, secondary, and tertiary healthcare systems and institutions for detection and cure of new and emerging diseases.
- The increasing demand from various medical applications due to the COVID-19 outbreak is estimated to drive the market for medical elastomers during the forecast period.
Medical Elastomers Industry Overview
The global medical elastomer market is fragmented in nature with the dominance of a few large players and the existence of many local players. Some of the major players in the market include (not in any particular order) BASF SE, Celanese Corporation, DOW, Solvay, and DuPont, among others.
Medical Elastomers Market Leaders
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DOW
-
BASF SE
-
Solvay
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Celanese Corporation
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DuPont
*Disclaimer: Major Players sorted in no particular order
Medical Elastomers Market News
- Feb 2022 : Celanese announced to acquire thermoplastics and elastomers units of DuPont's business segment (Mobility and Materials). This acquistion will expand the Celanese's product portfolio and production capacities in terms of thermoplastics and elastomers which inturn will reflect in increase in supply of medical elastomers.
Medical Elastomers Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
-
4.1 Drivers
- 4.1.1 Rise in Demand for Safe and Halogen-free Polymers
- 4.1.2 Other Drivers
-
4.2 Restraints
- 4.2.1 Decreasing Usage of Single-Use Devices
- 4.2.2 Increases Prices of SIlicone
- 4.3 Industry Value Chain Analysis
-
4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Consumers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
5. MARKET SEGMENTATION
-
5.1 Type
- 5.1.1 Thermoplastic Elastomer
- 5.1.1.1 Styrenic Block Copolymers (SBC)
- 5.1.1.2 Thermoplastic Polyurethane (TPU)
- 5.1.1.3 Plasticized Polyvinyl Chloride (PVC)
- 5.1.1.4 Thermoplastic Vulcanizate (TPV)
- 5.1.1.5 Other Thermoplastic Elastomers
- 5.1.2 Thermoset Elastomer
- 5.1.2.1 Silicones
- 5.1.2.1.1 Liquid silicone rubber (LSR)
- 5.1.2.1.2 High consistency rubber (HCR)
- 5.1.2.1.3 Other Silicones
- 5.1.2.2 Natural Rubber (Latex)
- 5.1.2.3 Butyl Rubber
- 5.1.2.4 Other Thermoset Elastomers
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5.2 Application
- 5.2.1 Medical Tubes
- 5.2.2 Catheters
- 5.2.3 Syringes
- 5.2.4 Non-wovens and Films
- 5.2.5 Gloves
- 5.2.6 Medical Bags
- 5.2.7 Implants
- 5.2.8 Other Applications
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5.3 Geography
- 5.3.1 Asia-Pacific
- 5.3.1.1 China
- 5.3.1.2 India
- 5.3.1.3 Japan
- 5.3.1.4 South Korea
- 5.3.1.5 Rest of Asia-Pacific
- 5.3.2 North America
- 5.3.2.1 United States
- 5.3.2.2 Canada
- 5.3.2.3 Mexico
- 5.3.3 Europe
- 5.3.3.1 Germany
- 5.3.3.2 United Kingdom
- 5.3.3.3 Italy
- 5.3.3.4 France
- 5.3.3.5 Rest of Europe
- 5.3.4 South America
- 5.3.4.1 Brazil
- 5.3.4.2 Argentina
- 5.3.4.3 Rest of South America
- 5.3.5 Middle-East and Africa
- 5.3.5.1 Saudi Arabia
- 5.3.5.2 South Africa
- 5.3.5.3 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share (%)**/Ranking Analysis
- 6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
- 6.4.1 Arkema Group
- 6.4.2 AVANTOR Inc.
- 6.4.3 Avient
- 6.4.4 BASF SE
- 6.4.5 Biomerics
- 6.4.6 Celanese Corporation
- 6.4.7 Covestro AG
- 6.4.8 DOW
- 6.4.9 DSM
- 6.4.10 DuPont de Nemours inc.
- 6.4.11 Eastman Chemical Company
- 6.4.12 ExxonMobil Corporation
- 6.4.13 Foster Corporation
- 6.4.14 Hexpol AB
- 6.4.15 Kraton Corporation
- 6.4.16 Kuraray Co.Ltd.
- 6.4.17 Momentive
- 6.4.18 Romar
- 6.4.19 RTP Company
- 6.4.20 Solvay
- 6.4.21 Sumitomo Rubber Industries Ltd.
- 6.4.22 Tekni-Plex
- 6.4.23 Teknor Apex
- 6.4.24 The Rubber Group
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Introduction of Bio-based Thermoplastic Elastomer in Market
Medical Elastomers Industry Segmentation
Elastomers are major of two types - thermoset elastomers and thermoplastic elastomers. The thermoset elastomers cannot be melted and retain their structure while thermoplastic elastomers can be melted to mold into different shapes. The medical elastomer market is segmented by type into thermoplastic elastomer and thermoset elastomer. On basis of application, the market is segmented into medical tubes, catheters, syringes, non-wovens and films, gloves, medical bags, implants, and other applications. The report also covers the market sizes and forecasts for Medical Elastomers Market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done based on volume (in kilo tons).
| Type | Thermoplastic Elastomer | Styrenic Block Copolymers (SBC) | |
| Thermoplastic Polyurethane (TPU) | |||
| Plasticized Polyvinyl Chloride (PVC) | |||
| Thermoplastic Vulcanizate (TPV) | |||
| Other Thermoplastic Elastomers | |||
| Type | Thermoset Elastomer | Silicones | Liquid silicone rubber (LSR) |
| High consistency rubber (HCR) | |||
| Other Silicones | |||
| Type | Thermoset Elastomer | Natural Rubber (Latex) | |
| Butyl Rubber | |||
| Other Thermoset Elastomers | |||
| Application | Medical Tubes | ||
| Catheters | |||
| Syringes | |||
| Non-wovens and Films | |||
| Gloves | |||
| Medical Bags | |||
| Implants | |||
| Other Applications | |||
| Geography | Asia-Pacific | China | |
| India | |||
| Japan | |||
| South Korea | |||
| Rest of Asia-Pacific | |||
| Geography | North America | United States | |
| Canada | |||
| Mexico | |||
| Geography | Europe | Germany | |
| United Kingdom | |||
| Italy | |||
| France | |||
| Rest of Europe | |||
| Geography | South America | Brazil | |
| Argentina | |||
| Rest of South America | |||
| Geography | Middle-East and Africa | Saudi Arabia | |
| South Africa | |||
| Rest of Middle-East and Africa |
Medical Elastomers Market Research FAQs
How big is the Medical Elastomers Market?
The Medical Elastomers Market size is expected to reach 3.50 million tons in 2024 and grow at a CAGR of 7.12% to reach 4.94 million tons by 2029.
What is the current Medical Elastomers Market size?
In 2024, the Medical Elastomers Market size is expected to reach 3.50 million tons.
Who are the key players in Medical Elastomers Market?
DOW, BASF SE, Solvay, Celanese Corporation and DuPont are the major companies operating in the Medical Elastomers Market.
Which is the fastest growing region in Medical Elastomers Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Medical Elastomers Market?
In 2024, the Asia-Pacific accounts for the largest market share in Medical Elastomers Market.
What years does this Medical Elastomers Market cover, and what was the market size in 2023?
In 2023, the Medical Elastomers Market size was estimated at 3.27 million tons. The report covers the Medical Elastomers Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Medical Elastomers Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Medical Elastomers Industry Report
Statistics for the 2024 Medical Elastomers market share, size and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports. Medical Elastomers analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
