Global Market Insights, Inc. has launched a report on Medical Styrenic Polymer Market that elucidates an in-depth synopsis of this business vertical over the forecast period. The report is inclusive of the prominent industry drivers and provides an accurate analysis of the key growth trends and market outlook in the years to come in addition to the competitive hierarchy of this sphere.
Medical Styrenic Polymer Market is expected to surpass USD 4.5 billion; according to a new research report. Rapidly changing industry dynamics to adopt eco-friendly material across medical & healthcare industry is expected to generate promising gains for medical styrenic polymer market in the forecast span. Traditionally, polyvinylchloride (PVC) was widely applicable across medical industry to manufacture instruments & devices to store fluids, blood bags, dialysis solutions, connecting valves & tubes.
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PVC application in healthcare industry has been objected owing to dioxin release which is threatening as it can infect IV fluids and drift into the human body. Prevailing demand for styrenic polymers primarily SBS, ABS, etc. due to its plasticizer free nature which will cause no or less harm to human life and environment will drive the overall medical styrenic polymer market by 2024.
Shifting market forces from metallic instruments to polymer based devices due to plentiful desirable attributes offered by plastic is expected to make prominent influence on medical styrenic polymer market in the forecast span. Conventionally, metal, ceramic, glass, etc. were used across medical & healthcare industry to manufacture medical devices & equipment, packaging, etc. However, technology advancements have accelerated the replacement pace of traditional material with plastics owing to incomparable advantages including design flexibility, light weight, easy disposability, better features and cost effectiveness which will help attain prominent medical styrenic polymer market in the forecast spell. Higher product prices compared to available substitutes in the market is credible to obstruct business by 2024.
In terms of revenue, medical styrenic polymer market for MBS is forecast to rise close to CAGR close to 8% by 2024. Product possess outstanding features including high resistance, good lucidity and excellent stiffness which will help achieve prominent MBS market by 2024.
Medical Styrenic Polymers Market By Product
Medical Styrenic Polymers Market By End-user
- Medical packaging
- Medical containers
- Medical instruments
- IV solution bags
- Medical fabrics
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Medical styrenic polymer market for polystyrene is estimated to rise at a CAGR over 7% in the forecast timespan. Excellent product characteristics including transparency, color variations, etc. will help drive the overall industry share in the forecast spell.
Medical styrenic polymer market for medical instruments comprised approximately 25% of the overall business in 2016. High product demand due to strict legislations formed against conventional polymer material, for instance PVC due to its hazardous implications on human health has led to rising demand for styrenic polymers across medical and healthcare industry. These trends are expected to make significant role to medical instruments segment by 2024.
Medical styrenic polymer market for IV solution bags comprise approximately 10% of the overall industry share in 2016. Product is commonly utilized across medical & healthcare industry to hold life supporting fluids, liquid medicines, etc. for immediate healing effects.
Asia Pacific medical styrenic polymer market is anticipated to grow by CAGR close to 8.5% in the forecast span. Rapidly growing medical & healthcare industry in the region along with persistent need to use non-toxic material for extensive applications across medical industry will help generate significant gains to medical styrenic polymer market during the forecast spell.
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The global medical styrenic polymer market was highly competitive in 2016. Key prominent players are Americas Styrenics, Craton Polymers, Styron, INEOS ABS, Styrolution, SABIC and Chevron.
The above information is provided on a regional and country basis for the following:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- South Africa