The medical engineered materials global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Medical Engineered Materials Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The medical engineered materials market size has grown rapidly in recent years. It will grow from $19.59 billion in 2023 to $22.67 billion in 2024 at a compound annual growth rate (CAGR) of 15.7%. The growth in the historic period can be attributed to aging population, regulatory compliance, infection control, materials for implants, tissue engineering.
The medical engineered materials market size is expected to see rapid growth in the next few years. It will grow to $38.77 billion in 2028 at a compound annual growth rate (CAGR) of 14.4%. The growth in the forecast period can be attributed to global health preparedness, 3d printing and additive manufacturing, advanced coatings, nanomedicine, personalized medicine. Major trends in the forecast period include nanotechnology, biodegradable and resorbable materials, bioactive and smart materials, sustainability and eco-friendly materials, advancements in medical technology.
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Scope Of Medical Engineered Materials Market
The Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Medical Engineered Materials Market Overview
Market Drivers –
The increase in instances of chronic diseases are expected to drive the growth of the medical engineered materials market going forward. Chronic diseases refer to conditions that last a year or more and require ongoing medical attention or limit activities of daily living, or both. The nanoengineered parts can be used to build a miniature replica of a heart chamber and cure heart-related problems. For instance, in January 2023, according to the National Center for Biotechnology Information (NCBI), a US-based National Library of Medicine, there would be 142.66 million people with chronic diseases worldwide by the year 2050, up from 71.522 million in 2020. Therefore, the increasing instances of chronic diseases are driving the growth of the medical engineered materials market.
Market Trends –
Major companies operating in the medical engineered materials market are introducing new products to gain a competitive edge in the market. For instance, in May 2022, Celanese Corporation, a US-based specialty materials company launched Celanex MT PBT 2406MT GF20. It is a high-performance material designed for medical devices and various other applications. It offers exceptional strength, stiffness, and noise-free sliding capabilities, making it suitable for Class I, Class II, and Class III medical device applications, as well as automotive, electrical, electronics, industrial machinery, and consumer goods. This tribologically modified PBT+PET grade, reinforced with 20% glass fiber, provides versatile solutions for multiple industries.
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
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Regional Insights –
Asia-Pacific was the largest region in the medical engineered materials market in 2023. 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.
Key Companies –
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., De Nederlandse Staatsmijnen, 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
Table of Contents
- Executive Summary
- Medical Engineered Materials Market Report Structure
- Medical Engineered Materials Market Trends And Strategies
- Medical Engineered Materials Market – Macro Economic Scenario
- Medical Engineered Materials Market Size And Growth
…..
- Medical Engineered Materials Market Competitor Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
- Appendix
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