What Is The Current and Historic Market Size Analysis Of The Medical Engineered Materials Market?
The medical engineered materials market has seen considerable growth due to a variety of factors.
• The market size for medically engineered materials has seen a swift expansion in the past few years. The projections illustrate a growth from $22.12 billion in 2024 to $25.43 billion in 2025, showing a compound annual growth rate (CAGR) of 15.0%.
The surge in growth during the historical period can be ascribed to factors like the aging population, regulatory compliance, infection control, implant materials, and tissue engineering.
What Are The Predictions for The Medical Engineered Materials Market Size In The Coming Years?
The medical engineered materials market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of medical engineered materials is anticipated to witness considerable expansion in the coming years, with projections estimating its value to reach $43.79 billion by 2029, growing at a compound annual growth rate (CAGR) of 14.6%.
This projected growth during the forecast period can be linked to several factors including the global preparedness for health, the application of 3D printing and additive manufacturing, the use of advanced coatings, the rise of nanomedicine, and the influence of personalized medicine. Furthermore, the emergence of several trends will also have a notable impact on the market throughout the forecast period. Such trends encompass the integration of nanotechnology, the use of biodegradable and resorbable materials, the development and use of bioactive and smart materials, the transition toward sustainable and eco-friendly materials, coupled with the advancements in medical technology.
Which Key Drivers Are Propelling The Medical Engineered Materials Market's Growth?
The surge in occurrences of long-term health conditions is predicted to propel the expansion of the medical engineered materials market. These chronic diseases are those that persist for a year or more, necessitating regular medical care or restricting activities of daily living. Nanoengineered components can construct a scaled-down model of a heart chamber to remedy heart-related issues. For example, the National Center for Biotechnology Information (NCBI), part of the US National Library of Medicine, projected in January 2023 that the number of people globally with chronic diseases would escalate to 142.66 million by 2050, a significant leap from 71.522 million in 2020. Thus, the escalating occurrences of long-term diseases are fueling the growth of the medical engineered materials market.
What Are The Key Segments Within The Global Medical Engineered Materials Market?
The medical engineered materials market covered in this report is segmented –
1) By Type: Medical Plastics, Medical Foams, Medical Films, Medical Adhesives, Medical Elastomer
2) By Application Type: Medical Devices, Medical Disposables, Medical Wearables, Advanced Woundcare
Subsegments:
1) By Medical Plastics: Polyethylene (PE), Polyvinyl Chloride (PVC), Polycarbonate (PC), Polypropylene (PP)
2) By Medical Foams: Polyurethane Foams, Polyethylene Foams, Silicone Foams
3) By Medical Films: Thermoplastic Films, Biodegradable Films, Adhesive Films
4) By Medical Adhesives: Epoxy Adhesives, Cyanoacrylate Adhesives, Silicone Adhesives
5) By Medical Elastomers: Silicone Elastomers, Thermoplastic Elastomers (TPE), Polyurethane Elastomers
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How Are New Trends Impacting The Size Of The Medical Engineered Materials Market?
Prominent companies in the medical engineered materials market are unveiling innovative products to maintain a dominant position in the market. For instance, Celanese Corporation, a specialty materials company originating from the US, launched the Celanex MT PBT 2406MT GF20 in May 2022. This is a superior material specifically designed for use in medical devices and various other sectors. It boasts superb strength, rigidity, and silent sliding capabilities, making it ideal for use in Class I, Class II, and Class III medical device applications. Further, it can also be employed in the automotive, electrical, electronics, industrial machinery, and consumer goods sectors. This PBT+PET grade that has been tribologically modified and reinforced with a 20% glass fiber presents a universal solution to a range of industries.
Who Are the Key Players in the Medical Engineered Materials Market?
Major companies operating in the medical engineered materials market include:
• Evonik Industries AG
• Covestro AG
• BASF SE
• Solvay SA
• Saudi Basic Industries Corporation
• Trelleborg AB
• Koninklijke DSM N.V
• Celanese Corporation
• DuPont de Nemours Inc.
• Ethicon Inc.
• Henkel AG & Co. KGaA
• Huntsman Corporation
• Momentive Performance Materials Inc.
• Nitto Denko Corporation
• Recticel Ltd.
• Victrex plc
• Ensinger GmbH
• RTP Company
• Foster Corporation
• Zeus Industrial Products Inc.
• Saint-Gobain SA
• Arkema SA
• Eastman Chemical Company
• Lubrizol Corporation
• PolyOne Corporation
• Quadrant AG
• Rochling Group
• DSM Biomedical
• Invibio Ltd.
• Carpenter Technology Corporation
• Heraeus Medical Components GmbH
• CeramTec GmbH
• Morgan Advanced Materials plc
• Freudenberg Medical LLC
• Synectic Engineering Inc.
• Medtronic plc
• Abbott Laboratories
• Johnson & Johnson
• Siemens Healthineers AG
What are the Regional Insights into the Medical Engineered Materials Market?
Asia-Pacific was the largest region in the medical engineered materials market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the medical engineered materials market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
