Medical Engineered Materials Market Size and Forecast 2024-2033|Evonik Industries AG, Covestro AG, BASF SE, Solvay SA, Saudi Basic Industries Corporation

Overview and Scope

Medical engineered materials refer to a material that is engineered to specific or custom requirements to engage with biological systems in a therapeutic or diagnostic manner for medical purposes. It is generally a link between science, technology, and medicine and is also known as biomaterials. The medical engineered materials are used to integrate key materials science modules with an understanding of medical design.

Sizing and Forecast

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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Segmentation & Regional Insights

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

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.

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Major Driver Impacting Market Growth

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.

Key Industry Players

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

The medical engineered materials market report table of contents includes:

1. Executive Summary

2. Medical Engineered Materials Market Characteristics

3. Medical Engineered Materials Market Trends And Strategies

4. Medical Engineered Materials Market – Macro Economic Scenario

5. Global Medical Engineered Materials Market Size and Growth

26. South America Medical Engineered Materials Market

27. Brazil Medical Engineered Materials Market

28. Middle East Medical Engineered Materials Market

29. Africa Medical Engineered Materials Market

30. Medical Engineered Materials Market Competitive Landscape And Company Profiles

Top Major Players: