How will the Medical Engineered Materials Market Grow over the Forecast Period?
The medical engineered materials market size has seen significant growth, expanding from $22.12 billion in 2024 to an anticipated $25.43 billion in 2025 at a Compound Annual Growth Rate (CAGR) of 15.0%. This growth can be attributed to factors such as an aging population, increased regulatory compliance, infection control, the use of materials for implants, and advances in tissue engineering. Further, the market size is expected to accelerate rapidly, reaching $43.79 billion in 2029 at a CAGR of 14.6%. Key market drivers during this period will include global health preparedness, advancements in 3D printing and additive manufacturing, nano-medicine, and personalized medicine. Noteworthy trends include nanotechnology, biodegradable and resorbable materials, bioactive and smart materials, eco-friendly materials, and advancements in medical technology.
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What are the Key Driving Factors for the Medical Engineered Materials Market?
An increase in instances of chronic diseases will fuel the growth of the medical engineered materials market. Chronic diseases have long-term impacts and often require consistent medical attention. Conditions such as heart-related problems can benefit from nano-engineered parts used to construct miniature replicas of heart chambers. According to the National Center for Biotechnology Information (NCBI), the number of individuals with chronic diseases is expected to almost double by 2050, from 71.522 million in 2020 to 142.66 million.
Which are the Key Segments in the Medical Engineered Materials Market?
1) By Type: Medical Plastics, Medical Foams, Medical Films, Medical Adhesives, Medical Elastomer
2) By Application Type: Medical Devices, Medical Disposables, Medical Wearables, Advanced Wound Care.
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Who are the Major Players in the Medical Engineered Materials Market?
Prominent 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, and Momentive Performance Materials Inc., among others.
What are the Emerging Trends in the Medical Engineered Materials Market?
Companies in the medical engineered materials market are innovating to maintain a competitive edge. For instance, in May 2022, Celanese Corporation launched Celanex MT PBT 2406MT GF20, a high-performance material ideal for medical devices and various applications. The material offers exceptional strength, stiffness, and sliding capabilities suitable for Class I, II, and III medical device applications.
Which Region Holds the Largest Market Share in the Medical Engineered Materials Market?
Asia-Pacific was the largest region in the medical engineered materials market in 2024 and is forecasted to maintain this lead over the forecast period. This report also provides in-depth analysis for regions including Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
What Does The Medical Engineered Materials Market Report 2025 Offer?
Medical engineered materials are custom-engineered substances that engage with biological systems for therapeutic or diagnostic purposes, often bridging the gap between science, technology, and medicine. The Medical Engineered Materials Market research report from The Business Research Company offers crucial insights into market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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