Medical Elastomers Market - Forecast(2021 - 2026)

Report Code: CMR 37696 Report Format: PDF + Excel (Delivery in 48 Hrs)

Medical Elastomers Market Overview

Medical Elastomers Market size is forecast to reach $11.2 billion by 2026, after growing at a CAGR of 6.4% during 2021-2026. In the medical sector, elastomers are used to optimize the function of a wide variety of pharmaceutical, biotech, medical, and life science applications. Moreover, elastomers are also used in the design of medical products where superior performance and safety are needed most. Growing awareness for better medical facilities and rising demand for medical devices incorporating thermoset elastomers and thermoplastic elastomers are driving the market growth. Moreover, the growing consumption of single-use medical devices like medical tubes and medical bags are also driving the Medical Elastomers Industry growth. Furthermore, the surging demand for medical implants among the aging population is also contributing to the growth of the Medical Elastomers market share globally.

COVID-19 Impact

The unprecedented crisis brought by COVID-19 during 2020 continues to have a clear and significant impact on the worldwide workforce, industry, country, and global economy. The pandemic has hindered the Medical Elastomers supply chain, especially the supply of raw material used in producing the medical-grade elastomers. Elastomers are produced using polymer and reinforcing filler. Due to the pandemic, the businesses had to shut down its operation, which leads to the unavailability of raw materials. Moreover, at the peak of the pandemic, the export or import of the elastomers or the raw material had to go through a strict sanitization process and had to stay at docks, and couldn’t be supplied in the market at the time, causing a supply chain disruption, which has also hindered the growth of the market.

Report Coverage

The report: “Medical Elastomers Market – Forecast (2021-2026)”, by IndustryARC, covers an in-depth analysis of the following segments of the Medical Elastomers Industry.
By Material: Thermoset Elastomers (Polybutadiene, Ethylene Propylene Diene Monomer (EPDM), Silicone, Fluorinated Hydrocarbon (FKM), Perfluoro Elastomer (FFKM), Polyisoprene and Others), and Thermoplastic Elastomers (Thermoplastic Polyurethane, Styrenic block copolymers (SBC), Thermoplastic Copolyester, Styrene Ethylene Butylene Styrene (SEBS), and Others).
By Manufacturing Process: Injection Molding, Plastic Molding, Compression Molding, Blow Molding, and Others.
By Application: Medical Parts & Components (Catheter Tips & Sheaths, Orthopedic Inserts, Respirator Mask Gaskets, and Others), Tubing (Single & Multi-Lumen Tubing, Catheter Tubing, Oxygen Tubing, Blood Transport & Delivery Tubing), Films & Bags (Biopharmaceutical Storage, Enteral & Parenteral Nutrition Bags, Therapy Bags, Peritoneal & Dialysis Bags, and Others), Medical Cables & Connecters (Insulation & Jacketing for Cables, Electrical Plugs & Connectors, and Others), and Others (Blood Collection Chambers, Drip Chambers, and Enteral Feeding Systems).
By Geography: North America (US, Canada, and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, and Rest of Europe), APAC (China, Japan, India, South Korea, Australia, and New Zealand, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), and RoW (Middle East and Africa)

Key Takeaways

  • Asia-Pacific region is projected to witness the highest growth due to the growing population and rise in healthcare investments. China, India, Singapore, and South Korea are the key countries contributing to the market growth in the APAC region.
  • Need for huge investment, stringent regulations, and unstable economic conditions are hindering the market's growth.
  • COVID-19 has both positive and negative impacts on the market. Due to growing, COVID-19 cases drive the demand for medical devices and the global lockdown acts as a challenging factor to the market growth.

Medical Elastomers Market Segment Analysis - By Material

Thermoplastic Elastomers segment held the largest share of more than 50% in the Medical Elastomers Market in 2020. Thermoplastic elastomers are used in many major medical application areas like syringes to gaskets & seals, vial caps, and soft-touch cushions for glucose measuring devices due to their high degree of purity, excellent recyclability, and cost-effectiveness. Moreover, thermoplastic elastomers are also replacing latex and PVC materials, as latex can cause an allergic reaction to some individuals, and PVC emits toxic fumes during manufacturing process. Therefore, the wide use and advantages of Thermoplastic elastomers will further drive the Medical Elastomers market growth.

Medical Elastomers Market Segment Analysis - By Manufacturing Process

The injection molding segment held the largest share of more than 35% in the Medical Elastomers Market in 2020. The injection molding process can be done with a variety of materials, including thermoset elastomers and polymers. The injection molding process enables the production of high precision complex parts for healthcare and medical applications such as surgical instruments, orthopedics, dental instruments, drug delivery equipment, laboratory equipment, and test tube & other containers. In this process, elastomer compound is continuously supplied into the machine and is injected into the multi-caliber mold through a screw conveyor. When the elastomers compound passes through the nozzle and the sprues, it generates additional friction heat that temporarily reduces the viscosity, supporting optimum mold filling and speeding up the vulcanization process. This process provides various advantages over compression moldings such as high production, low labor costs, and design flexibility. Therefore, the above advantages of injection molding drive its demand in the medical elastomer market.

Medical Elastomers Market Segment Analysis - By Application

The tubing segment held the largest share of more than 25% in the Medical Elastomers Market in 2020. The increasing demand for medical tubes such as single & multi-lumen tubing, catheter tubing, oxygen tubing, blood transport, and delivery tubing in diagnosis treatment in driving the market growth. The increasing prevalence of diseases such as cancer, and cardiovascular that require complex surgical treatment, has increased the demand for minimally invasive procedures, which in turn boosted the demand for elastomers that are ideal for use in catheters and medical tubing. Moreover, medical tubing ensures cost-effectiveness and consumes less time. For example, in urinary catheterization using catheter tubing reduces the time taken for the concerned medical or surgical procedure. Therefore, the growing demand for minimally invasive medical procedures drives the demand for medical tubing in the medical elastomers market.

Medical Elastomers Market Segment Analysis - By Geography

North America held the largest share of more than 40% in the Medical Elastomers market in 2020. Elastomers are widely used in medical applications, due to low toxicity, easy recyclability, and cost-effectiveness. And are used in biomedical applications, such as cardiovascular devices, prosthetic devices, transdermal therapeutic systems, and general medical care products. The increasing demand for medical elastomers in North America can be attributed to the presence of large medical device manufacturing facilities in the region, especially in the United States. The United States has the most advanced medical device sector, due to huge investment in medical research & development. For instance, as per the Research America report, the USA invested $194.2 billion in 2018 which was an increase of 6.4% from 2017. Moreover, the increasing elderly population and growing demand for medical facilities for the treatment of chronic diseases are also driving the growth of the market in this region. Furthermore, the demand for medical tubing has increased in North America for delivering medication, tying off wounds, restricting blood flow, resistance training, and other purposes. Therefore, the advanced medical and healthcare industry coupled with huge investments in the healthcare sector is driving the demand for medical elastomers in the region.

Figure: North America Medical Elastomers Market Revenue, 2020-2026 (US$ Billion)


Medical Elastomers Market Drivers

Rising Chronic, Contagious Diseases and The emergence of COVID-19 is Driving the Market Demand

The growing chronic diseases such as diabetes, cancer, flu, and the rise of COVID-19 among the population are increasing the demand for medical devices, which is driving the demand for elastomers in medical applications. As per Centres for Disease Control & Prevention (CDC), 6 in 10 adults in the United States are suffering from chronic disease. Furthermore, as per National Health Council, 133 million American, which represents 40% of the total population are suffering from chronic disease and is estimated to be 157 million by 2020, which is also contributing towards the demand for medical devices. Medical devices, such as medical tubes, catheters, and syringes are few majorly used medical devices across the globe. And elastomers such as polybutadiene, styrene-ethylene butylene styrene and polyurethane are widely used in the manufacturing of medical devices for their durability, design flexibility, and biocompatibility. Extended working hours, limited physical activity, unhealthy food habits, and lack of immunity are increasing cardiovascular problems, obesity, and high blood pressure among the population, which is also driving the demand for medical devices for diagnosis and prognosis treatment. Whereas, the global outbreak of the COVID-19 further drives the demand for medical devices that in turn propel the market growth. Additionally, owing to the rapidly spreading COVID-19, FDA has been working to facilitate the development and availability of medical products and equipment for use by healthcare providers as expeditiously and safely as possible.

Demand for Safer & Recyclable Polymers in Medical Devices is Driving the Market Growth

Thermoplastic Elastomers (TPEs) have gained immense popularity, due to their high degree of purity and easy recyclability. TPEs are medical-grade raw material and are free of phthalates and latex proteins. TPEs have extremely low extractable and leachable, even when in contact with body fluids. Moreover, TPEs can be reheated and reshaped without releasing any toxic fumes. TPEs can be processed more efficiently and economically, than thermoset rubber, as a result, the old and expired devices can be easily recycled and reduce the cost of production. On the other hand, rising concern about using PVC in medical applications, due to recyclability issues, and incineration is driving the demand for elastomers. As PVC is a chlorinated plastic that forms dioxin during production or when incinerated, and the dioxins that are released can be toxic. Whereas Thermoplastic Elastomers (TPEs) are completely recyclable and can be processed in many ways from injection molding to extrusion, moreover, TPEs are more versatile than PVC. So, therefore, the superior properties of elastomers over PVC and other alternative products are driving the demand for elastomers in medical applications.

Medical Elastomers Market Challenges

High Investment and Environmental Concern

The major challenge for the Medical Elastomers Market is a requirement of continuous investment for developing a new product, which helps in diagnosing and treating diseases, without harming the patient itself. Developing a new product needs continuous R&D, and need of sophisticated technology, for which a huge investment is required. Therefore, the above factors are restraining the growth of Medical Elastomers. Whereas, disposal of elastomer-based devices proves to be one of the major concerns for the environmental agencies, as the disposal emits a lot of hazardous compounds into the environment. Disposal of these materials can be done either through incineration or through landfills, either of which would create an environmental hazard. The burning of elastomers results in emissions of carbon monoxide and hydrogen cyanide, both of which are harmful to the environment.

Medical Elastomers Market Landscape

  • Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Medical Elastomers Market report. Major players in the Medical Elastomers Market are BASF SE, DuPont de Nemours, Inc., Solvay S.A., Eastman Chemical Co., Celanese Corp., Avient Corp., Trelleborg AB, Kuraray Co., Ltd., RTP Co., and Teknor Apex Co., and among others.

Acquisitions/Technology Launches

  • In April 2020, Teknor Apex Co. developed a new series of thermoplastic elastomers (TPEs) Medalist MD-30000 Series, which has excellent adhesion to engineering plastic substrates while meeting stringent requirements for use in medical device applications. This new launch will expand Teknor Apex portfolio and will further drive the market growth.
  • In January 2019, Trelleborg AB, acquired U.S.-based, and privately-owned, Sil-Pro, LLC. Sil-Pro is a manufacturer of silicone and thermoplastic components and assemblies for medical devices. This acquisition expands Trelleborg capabilities for medium volume silicone products and expands its manufacturing footprint, which will further drive the markets.

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1. Medical Elastomers Market- Market Overview
    1.1 Definitions and Scope
2. Medical Elastomers Market - Executive Summary
    2.1 Market Revenue, Market Size and Key Trends by Company
    2.2 Key Trends by Material
    2.3 Key Trends by Manufacturing Process
    2.4 Key Trends by Application
    2.5 Key trends by Geography
3. Medical Elastomers Market – Comparative analysis
        3.1.1 Market Share Analysis- Major Companies
        3.1.2 Product Benchmarking- Major Companies
        3.1.3 Top 5 Financials Analysis
        3.1.4 Patent Analysis- Major Companies
        3.1.5 Pricing Analysis (ASPs will be provided)
4. Medical Elastomers Market - Startup companies Scenario Premium Premium
    4.1 Major startup company analysis:
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Product portfolio
        4.1.4 Venture Capital and Funding Scenario
5. Medical Elastomers Market – Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing business index
    5.3 Successful venture profiles
    5.4 Customer Analysis – Major companies
6. Medical Elastomers Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Market Opportunities
    6.4 Porters five force model
        6.4.1 Bargaining power of suppliers
        6.4.2 Bargaining power of customers
        6.4.3 Threat of new entrants
        6.4.4 Competitive Rivalry
        6.4.5 Threat of substitutes
7. Medical Elastomers Market – Strategic Analysis
    7.1 Value/Supply Chain Analysis
    7.2 Opportunity Analysis
    7.3 Product/Market Life Cycle
    7.4 Distributor Analysis – Major Companies
8. Medical Elastomers Market – By Material (Market Size -$Million/Billion)
    8.1 Thermoset Elastomers
        8.1.1 Polybutadiene 
        8.1.2 Ethylene Propylene Diene Monomer (EPDM)
        8.1.3 Silicone
        8.1.4 Fluorinated Hydrocarbon (FKM)
        8.1.5 Perfluoro Elastomer (FFKM)
        8.1.6 Polyisoprene
        8.1.7 Others
    8.2 Thermoplastic Elastomers
        8.2.1 Thermoplastic Polyurethane
        8.2.2 Styrenic block copolymers (SBC)
        8.2.3 Thermoplastic Copolyester
        8.2.4 Styrene Ethylene Butylene Styrene (SEBS)
        8.2.5 Others
9. Medical Elastomers Market – By Manufacturing Process (Market Size -$Million/Billion)
    9.1 Injection Molding
    9.2 Plastic Intrusion
    9.3 Compression Molding
    9.4 Blow Molding
    9.5 Others
10. Medical Elastomers Market – By Application (Market Size -$Million/Billion)
    10.1 Medical Parts & Components
        10.1.1 Catheter Tips & Sheaths
        10.1.2 Orthopedic Inserts
        10.1.3 Respirator Mask Gaskets
        10.1.4 Others
    10.2 Tubing
        10.2.1 Single & Multi-Lumen Tubing
        10.2.2 Catheter Tubing
        10.2.3 Oxygen Tubing
        10.2.4 Blood Transport & Delivery Tubing
    10.3 Films & Bags
        10.3.1 Biopharmaceutical Storage
        10.3.2 Enteral & Parenteral Nutrition Bags
        10.3.3 Therapy Bags
        10.3.4 Peritoneal & Dialysis Bags
        10.3.5 Others
    10.4 Medical Cables & Connecters
        10.4.1 Insulation & Jacketing for Cables
        10.4.2 Electrical Plugs & Connectors
        10.4.3 Others
    10.5 Others
        10.5.1 Blood Collection Chambers
        10.5.2 Drip Chambers
        10.5.3 Enteral Feeding Systems
11. Medical Elastomers Market - By Geography (Market Size -$Million/Billion)
    11.1 North America
        11.1.1 U.S
        11.1.2 Canada
        11.1.3 Mexico
    11.2 Europe
        11.2.1 UK
        11.2.2 Germany
        11.2.3 France
        11.2.4 Italy
        11.2.5 Netherlands
        11.2.6 Spain
        11.2.7 Russia
        11.2.8 Belgium
        11.2.9 Rest of Europe
    11.3 Asia-Pacific
        11.3.1 China
        11.3.2 Japan
        11.3.3 India
        11.3.4 South Korea
        11.3.5 Australia and New Zealand
        11.3.6 Rest of APAC
    11.4 South America
        11.4.1 Brazil
        11.4.2 Argentina
        11.4.3 Colombia
        11.4.4 Chile
        11.4.5 Rest of South America
    11.5 Rest of the World
        11.5.1 Middle East
            11.5.1.1 Saudi Arabia
            11.5.1.2 U.A.E
            11.5.1.3 Israel
            11.5.1.4 Rest of the Middle East
        11.5.2 Africa
            11.5.2.1 South Africa
            11.5.2.2 Nigeria
            11.5.2.3 Rest of Africa
12. Medical Elastomers Market – Entropy
    12.1 New Product Launches
    12.2 M&As, Collaborations, JVs and Partnerships
13. Medical Elastomers Market – Market Share Analysis Premium
    13.1 Market Share at Global Level - Major companies
    13.2 Market Share by Key Region - Major companies
    13.3 Market Share by Key Country - Major companies
    13.4 Market Share by Key Application - Major companies
    13.5 Market Share by Key Product Type/Product category - Major companies
14. Medical Elastomers Market – Key Company List by Country Premium Premium
15.Medical Elastomers Market Company Analysis - Business Overview, Product Portfolio, Financials, and Developments
    15.1 Company 1
    15.2 Company 2
    15.3 Company 3
    15.4 Company 4
    15.5 Company 5
    15.6 Company 6
    15.7 Company 7
    15.8 Company 8
    15.9 Company 9
    15.10 Company 10 and More
"*Financials would be provided on a best-efforts basis for private companies

LIST OF TABLES

1.Global Medical Elastomers Market By Type Market 2019-2024 ($M)
1.1 Thermoset Elastomers Market 2019-2024 ($M) - Global Industry Research
1.1.1 Silicone Market 2019-2024 ($M)
1.2 Thermoplastic Elastomers Market 2019-2024 ($M) - Global Industry Research
1.2.1 Thermoplastic Polyurethane Market 2019-2024 ($M)
1.2.2 Styrene Block Copolymers Market 2019-2024 ($M)
2.Global Medical Elastomers Market By Type Market 2019-2024 (Volume/Units)
2.1 Thermoset Elastomers Market 2019-2024 (Volume/Units) - Global Industry Research
2.1.1 Silicone Market 2019-2024 (Volume/Units)
2.2 Thermoplastic Elastomers Market 2019-2024 (Volume/Units) - Global Industry Research
2.2.1 Thermoplastic Polyurethane Market 2019-2024 (Volume/Units)
2.2.2 Styrene Block Copolymers Market 2019-2024 (Volume/Units)
3.North America Medical Elastomers Market By Type Market 2019-2024 ($M)
3.1 Thermoset Elastomers Market 2019-2024 ($M) - Regional Industry Research
3.1.1 Silicone Market 2019-2024 ($M)
3.2 Thermoplastic Elastomers Market 2019-2024 ($M) - Regional Industry Research
3.2.1 Thermoplastic Polyurethane Market 2019-2024 ($M)
3.2.2 Styrene Block Copolymers Market 2019-2024 ($M)
4.South America Medical Elastomers Market By Type Market 2019-2024 ($M)
4.1 Thermoset Elastomers Market 2019-2024 ($M) - Regional Industry Research
4.1.1 Silicone Market 2019-2024 ($M)
4.2 Thermoplastic Elastomers Market 2019-2024 ($M) - Regional Industry Research
4.2.1 Thermoplastic Polyurethane Market 2019-2024 ($M)
4.2.2 Styrene Block Copolymers Market 2019-2024 ($M)
5.Europe Medical Elastomers Market By Type Market 2019-2024 ($M)
5.1 Thermoset Elastomers Market 2019-2024 ($M) - Regional Industry Research
5.1.1 Silicone Market 2019-2024 ($M)
5.2 Thermoplastic Elastomers Market 2019-2024 ($M) - Regional Industry Research
5.2.1 Thermoplastic Polyurethane Market 2019-2024 ($M)
5.2.2 Styrene Block Copolymers Market 2019-2024 ($M)
6.APAC Medical Elastomers Market By Type Market 2019-2024 ($M)
6.1 Thermoset Elastomers Market 2019-2024 ($M) - Regional Industry Research
6.1.1 Silicone Market 2019-2024 ($M)
6.2 Thermoplastic Elastomers Market 2019-2024 ($M) - Regional Industry Research
6.2.1 Thermoplastic Polyurethane Market 2019-2024 ($M)
6.2.2 Styrene Block Copolymers Market 2019-2024 ($M)
7.MENA Medical Elastomers Market By Type Market 2019-2024 ($M)
7.1 Thermoset Elastomers Market 2019-2024 ($M) - Regional Industry Research
7.1.1 Silicone Market 2019-2024 ($M)
7.2 Thermoplastic Elastomers Market 2019-2024 ($M) - Regional Industry Research
7.2.1 Thermoplastic Polyurethane Market 2019-2024 ($M)
7.2.2 Styrene Block Copolymers Market 2019-2024 ($M)

LIST OF FIGURES

1.US Medical Elastomers Market Revenue, 2019-2024 ($M)
2.Canada Medical Elastomers Market Revenue, 2019-2024 ($M)
3.Mexico Medical Elastomers Market Revenue, 2019-2024 ($M)
4.Brazil Medical Elastomers Market Revenue, 2019-2024 ($M)
5.Argentina Medical Elastomers Market Revenue, 2019-2024 ($M)
6.Peru Medical Elastomers Market Revenue, 2019-2024 ($M)
7.Colombia Medical Elastomers Market Revenue, 2019-2024 ($M)
8.Chile Medical Elastomers Market Revenue, 2019-2024 ($M)
9.Rest of South America Medical Elastomers Market Revenue, 2019-2024 ($M)
10.UK Medical Elastomers Market Revenue, 2019-2024 ($M)
11.Germany Medical Elastomers Market Revenue, 2019-2024 ($M)
12.France Medical Elastomers Market Revenue, 2019-2024 ($M)
13.Italy Medical Elastomers Market Revenue, 2019-2024 ($M)
14.Spain Medical Elastomers Market Revenue, 2019-2024 ($M)
15.Rest of Europe Medical Elastomers Market Revenue, 2019-2024 ($M)
16.China Medical Elastomers Market Revenue, 2019-2024 ($M)
17.India Medical Elastomers Market Revenue, 2019-2024 ($M)
18.Japan Medical Elastomers Market Revenue, 2019-2024 ($M)
19.South Korea Medical Elastomers Market Revenue, 2019-2024 ($M)
20.South Africa Medical Elastomers Market Revenue, 2019-2024 ($M)
21.North America Medical Elastomers By Application
22.South America Medical Elastomers By Application
23.Europe Medical Elastomers By Application
24.APAC Medical Elastomers By Application
25.MENA Medical Elastomers By Application
26.BASF SE, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.Dowdupont, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Solvay S.A., Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.Royal DSM, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.Eastman Chemical Company, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.Trelleborg AB, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.Teknor Apex, Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.Momentive Performance Materials Inc., Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.Celanese Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
35.Polyone Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)