Table of Contents
Historical Data, Premium Insights, Market Dynamic, Analysis and Projection, By Product, Analysis and Projection, By Application, Analysis and Projection, By End-Use, Analysis and Projection, By Regional Analysis, Competitive Landscape, Company Profiles, Market Revenue, Sale & Price Analysis
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According to a research report published by Spherical Insights & Consulting, The Global Medical Engineered Materials Market Size is Expected to Grow from USD 21.10 Billion in 2023 to USD 73.34 Billion by 2033, at a CAGR of 13.27% during the forecast period 2023-2033.
Browse key industry insights spread across 210 pages with 110 Market data tables and figures & charts from the report on the Global Medical Engineered Materials Market Size, Share, and COVID-19 Impact Analysis, By Type (Medical Plastics, Medical Foams, Medical Films, Medical Elastomers, and Medical Adhesives), By Application (Medical Device, Disposables, Medical Wearables, and Advanced Wound Care), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.
The global medical engineered materials market involves the production and commercialization of biomaterials designed to interact with biological systems. These materials are used in various medical applications, including implants, prostheses, medication delivery systems, regenerative medicine, and medical devices. These materials offer specific chemical, biological, mechanical, and physical qualities to match the biological environment. Key categories include composites, metals, polymers, natural materials, and ceramics. Medical devices and equipment are crucial for diagnostic, procedural, and surgical applications. The demand for medical engineered materials is driven by demographic changes like the aging population and new disease strains. The global aging population's growth significantly impacts product design and manufacture. The demand for comfortable design is also increasing among the elderly population. New materials like soft-touch TPEs and overmolding are expected to drive demand for medical engineered materials in the forecast period. The Indian government has introduced the INR 500 Cr Medical Devices Clinical Studies Support Scheme to boost domestic manufacturing, reduce import reliance, and fund clinical studies, bolstering India's global medical technology market position. However, government control over medical device prices, regulations, and time-consuming approval processes restrains the medical engineered materials market, reducing profit margins and restructuring costs for manufacturers and suppliers.
The medical plastics segment accounted for the largest share in 2023 and is expected to grow at a significant CAGR during the forecast period.
Based on the type, the medical engineered materials market is classified into medical plastics, medical foams, medical films, medical elastomers, and medical adhesives. Among these, the medical plastics segment accounted for the largest share in 2023 and is expected to grow at a significant CAGR during the forecast period. Medical plastics are crucial for healthcare applications, including instrument production and diagnostic equipment. The market for medical devices is expected to grow due to emerging nations' expanding healthcare infrastructure and the rise in chronic illness cases, thereby increasing demand for medical plastics.
The disposables segment accounted of the largest market share in 2023 and is expected to grow at a significant CAGR during the forecast period.
Based on the application, the medical engineered materials market is divided into medical device, disposables, medical wearables, and advanced wound care. Among these, the disposables segment accounted for the largest share in 2023 and is expected to grow at a significant CAGR during the forecast period. Medical disposables are medical instruments designed for temporary or temporary disposal. They are sought after for their low cost, ease of processing, biocompatibility, and sterilizability. The market is driven by rising chronic disease incidences, changing lifestyles of middle-income individuals, demand for better healthcare facilities, and an aging population.
North America is estimated to hold the largest share of the medical engineered materials market over the forecast period.
North America is estimated to hold the largest share of the medical engineered materials market over the forecast period. Rising chronic illness prevalence, an aging population, and the increased use of sophisticated biomaterials are all factors contributing to the market's expansion in North America.
Europe is predicted to have the fastest CAGR growth in the medical engineered materials market over the forecast period. Leading medical device manufacturers, advantageous government regulations, and an increase in R&D efforts pertaining to engineered biomaterials in the region are all factors contributing to the European market's expansion.
Company Profiling
Major key players in the medical engineered materials market include Evonik Industries AG, Covestro AG, BASF SE, Solvay, SABIC, Trelleborg AB, DSM, Celanese Corporation, DuPont de Nemours Inc., and Others.
Recent Development
Key Target Audience
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the medical engineered materials market based on the below-mentioned segments:
Global Medical Engineered Materials Market, By Type
Global Medical Engineered Materials Market, By Application
Global Medical Engineered Materials Market, By Regional Analysis
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