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West European Market for Medical Plastics

As per the recent Market Research carried out by “Frost & Sullivan”, USA, West European market for polymers in medical devices will grow by an average of 8.6% a year from €602 million in 2011 to €1,075.4 million in 2018, boosted by the increasing replacement of other materials by polymers in medical devices.

Medical Polymers

The research covered a range of product segments including polyvinyl chloride (PVC), silicones, styrenes, thermoplastic elastomers and engineering and high performance polymers such as PEEK and PTFE.

As per Frost & Sullivan research analyst Tridisha Goswami , “A rapidly greying population with its attendant healthcare needs will have a positive impact on the medical devices market and, by extension, on polymers used in such equipment reinforced by the uptake of increasingly sophisticated equipment by the healthcare industry and the growing importance of portable, impact-resistant medical devices that can be used in homecare settings.”

Already, polymers with higher chemical and impact resistance, superior mechanical and thermal properties have become the material of choice for most medical applications like medical tubing, wound care, adhesives and lubricants.

The healthcare industry is exhibiting increased interest in miniaturisation, homecare and aesthetics. Polymers which have exceptional durability, flexibility and strength, and which can also be produced in a range of colours, meet such demands.

In comparison with other sectors, such as automotive and construction, polymers in healthcare is a low-volume market. However, according to the analysis, it offers opportunities for higher margins and, moreover, is less tied to GDP growth.

“It has to be noted though that governmental pressure to lower healthcare costs are likely to limit profit margins of polymer suppliers,” cautioned Goswami. “The market is highly regulated and product development is expensive and time consuming.”

Despite being low-volume, the market is defined by high competition and innovation. Efforts to advance polymer functionality and diversify the application base will help companies establish their presence in the market.

“Competition is intense and market participants have to diversify their product lines and be a one-stopsolution for all healthcare material needs,” advised Goswami. “Manufacturers should focus on developing novel, high quality products that meet the particular needs of varied applications.”

( Ref: )

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