Medical Grade Ultra High Molecular Weight Polyethylene Market - Forecast(2024 - 2030)

Medical Grade Ultra High Molecular Weight Polyethylene Market Overview

Medical Grade Ultra High Molecular Weight Polyethylene Market size is forecast to reach US$2.2 billion by 2027, after growing at a CAGR of 9.1% during 2022-2027. When compared to other thermoplastics, the Medical Grade UHMWPE Market is known for its high resistivity and impact strength. The medical sector is being driven by the growing elderly population, which is likely to boost worldwide market growth over the forecast period. For instance, according to the World Ageing Population report, there were roughly 703 million persons aged 65 and up in the world in 2019. Over the next three decades, the number of people aged 65 and up is predicted to more than treble, reaching 1.5 billion by 2050. According to the above-mentioned source, Eastern and South-Eastern Asia comprise the largest part of the older population, followed by Europe and North America. As a result of the growing elderly community, health and long-term care cost is predicted to rise, influencing medical grade ultra-high molecular weight polyethylene market growth, as it is widely used in ankle replacement, orthopaedic implants, surgical suture, medical textiles, knee replacement.

COVID-19 Impact

There is no doubt that the COVID-19 lockdown has significantly reduced manufacturing, and production activities which in turn, has resulted in the country-wise shutdown of manufacturing sites, shortage of labor, and the decline of supply and demand chain all over the world, thus, affecting the market. There is a lack of treatment options. Covid-19 has disrupted the supply chain, resulting in crucial medical device shortages all across the world. And thus, affected the medical grade ultra-high molecular weight polyethylene market.

Report Coverage

The report: “Medical Grade Ultra High Molecular Weight Polyethylene Market– Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the Medical Grade Ultra High Molecular Weight Polyethylene Industry.

By Type: Low Range, Medium Range, High Range.
By Application: Total Hip Replacement, Knee Replacement, Shoulder Replacement, Ankle Replacement, Small Joints, Surgical Suture, Medical textiles, and others.
By Geography: North America (USA., Mexico, and Canada), Europe (UK, Germany, Italy, France, Netherlands, Belgium, Spain, Denmark, Rest of Europe), APAC (China, Japan, South Korea, India, Australia, and New Zealand and Rest of Asia Pacific), South America (Brazil, Argentina, Colombia, Rest of South America) and RoW (Middle East and Africa).

Key Takeaways

• The global Medical Grade UHMWPE Market is expected to develop significantly over the forecast period, owing to improvements in infrastructure, high-quality medical services, an increase in surgical operations, and an increase in diseases like osteoarthritis.
• This material is abrasion-resistant and corrosive, as well as lightweight, with a low coefficient of friction and high strength. These characteristics have led to the widespread use of Medical Grade Ultra-High Molecular Weight Polyethylene (UHMWPE) in medical applications.
• PET fibers are being phased out in place of UHMWPE fibers, allowing for smaller device sizes. Such advancements in R&D are projected to assist the entire market's growth.

Figure: North America Medical Grade Ultra High Molecular Weight Polyethylene Market Revenue, 2021-2027 (US$ Billion)

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Medical Grade Ultra High Molecular Weight Polyethylene Market Segment Analysis – By Type

Ultra High Molecular Weight Polyethylene molecular weight that is roughly ten times that of HDPE resins. UHMWPE has exceptional mechanical qualities because of its extremely high molecular weight, including strong abrasion resistance, impact strength, and low coefficient of friction. Because of these unique characteristics, the product can be employed in high-performance applications such as ankle replacement, orthopaedic implants, surgical suture, medical textiles, knee replacement. The molecular weight and average particle size of UHMWPE grades are sold in powder form and the molecular weight is in the low (3 million g/mol), medium (5 million g/mol), or high (12 million g/mol) range. Based on the application the range and sizes vary.

Medical Grade Ultra High Molecular Weight Polyethylene Market Segment Analysis – By Application

Hip replacement dominated the Medical Grade Ultra High Molecular Weight Polyethylene market in 2021 and is forecasted to grow at a CAGR of 9.4% during the forecast period. The surgeon cuts the front of the knee to expose the kneecap during a total hip replacement. The surgeon then moves it to the side so he can access the knee behind it. Bone marrow and skin bone edges that have been damaged are cut. The restrictions are precisely measured and made to meet the installation's replacement. Because of its efficacy and adaptability, ultra high molecular weight polyethylene is used in hip replacement surgery. This trend is driven by a growing geriatric population, changing lifestyles, and a lack of fitness. Over the next eight years, this trend is likely to enhance overall demand.

Medical Grade Ultra High Molecular Weight Polyethylene Market Segment Analysis – By Geography

North America dominated the market with a share of 32% in 2021 and is growing at a CAGR of 9% during the forecast period 2022-2027, owing to its healthy economy and well-developed health-care infrastructure, and this trend is likely to continue in the projection term. Each year, the United States spends a considerable portion of its GDP on healthcare. According to a recent estimate by the Organization for Economic Co-operation and Development (OECD), healthcare costs approximately 18 percent of GDP in 2018. According to a 2019 analysis from the University of Pennsylvania, more than 120,000 patients in the United States are awaiting transplantation and replacements. Furthermore, according to an article published in the US Pharmacist in February 2020 titled "Prevalence of Cardiovascular Disease in Adults," 30.3 million adults (12.1 percent) in the United States were diagnosed with cardiovascular disorders in 2018. Therefore, the increasing elderly population and prevalence of these diseases are driving medical grade ultra-high molecular weight polyethylene market growth.

Medical Grade Ultra High Molecular Weight Polyethylene Market Drivers

Increasing Joint Infection and Osteoarthritis are Creating Demand for UHMWPE in Medical Sector

Knee replacement and related surgeries are becoming more common as arthritis, joint infection, and implant loosening become more common. UHMWPE is used in ankle replacement, orthopaedic implants, surgical suture, medical textiles, knee replacement due to its superior characteristics and adaptability. Over the forecast period, the total growth in replacement operations is expected to move the Medical Market forward. The increased demand for automated claims and process management is driving the market for Medical Grade Ultra-High Molecular Weight Polyethylene in Healthcare. Due to the growing customer base for large enterprises, medical grade ultra-high molecular weight polyethylene (UHMWPE) is predicted to develop at a quick rate. Around the world, the proportion of people aged 65 and up has risen, as has the duration of life expectancy. This is predicted to have a big impact on the healthcare system and, as a result, on the global UHMWPE market's growth. According to the International Diabetes Federation, roughly 463 million persons aged 20 to 79 had diabetes in 2019, with the number expected to climb to 700 million by 2045. According to Arthritis-India, osteoarthritis (OA) affects about 4-6 percent of the adult population and is one of the top five chronic diseases in India. By 2025, the country is expected to see an endemic of osteoarthritis, with about 80 percent of the 65 and older population suffering from joint wear and tear. Therefore, these factors are complementing medical-grade UHMWPE market growth.

Excellent Properties of UHMWPE over Other Materials

Over the forecast period, demand is likely to be driven by the material's effectiveness in medical implants due to its exceptional features such as strong impact strength, low reactivity, and good flexibility. UHMWPE is a polymer with long chains that allow it to transfer load easily, making it ideal for implantation applications. The material is very flexible and has high impact resistance. When compared to metals, the material is lighter. Because of its self-lubricating and low absorption qualities, UHMWPE is preferred over other materials. UHMWPE is employed in the orthopaedic industry because of its high chemical resistance, electrical insulating and good dielectric capabilities, and excellent sound dampening characteristics. All of these characteristics have boosted demand for UHMWPE in medical applications recently, and this trend is projected to continue in the future.

Medical Grade Ultra High Molecular Weight Polyethylene Market Challenges

Complexity of Medical Grade UHMWPE and the Reduction in Global Commodity Prices are Affecting the Market

The market is still in its early stages, and it is hampered by factors such as organizational structure changes associated with the adoption of Medical Grade Ultra-High Molecular Weight Polyethylene (UHMWPE) and a lack of understanding of how to integrate business processes with Medical Grade Ultra-High Molecular Weight Polyethylene. Furthermore, the growing complexity of Medical Grade Ultra-High Molecular Weight Polyethylene, the recent breakout of COVID-19, and the reduction in global commodity prices have all had a negative influence on Medical Grade Ultra-High Molecular Weight Polyethylene in the Market globally.

Medical Grade Ultra High Molecular Weight Polyethylene Market Industry Outlook

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Medical Grade Ultra High Molecular Weight Polyethylene Market. The key players in the Medical Grade Ultra High Molecular Weight Polyethylene Market include

1. Honeywell
2. DSM N.V.,
3. LyondellBasell Industries
4. Celanese Corporation
5. Braskem S.A
6. Asahi Kasei Corporation.

Acquisitions/Technology Launches

• In July 2019, DSM has announced the acquisition of ICD, a Chinese UHMW PE fiber pioneer. DSM will gain complementary production and technical capabilities as a result of its acquisition of the majority of ICD's shares, which will boost the company's position in the UHMWPE market.
• In July 2019, Dyneema Purity Black fiber, the first black medical-grade UHMW PE fiber, has been launched by DSM. The fiber structures will be 15 times stronger than steel, with a low profile, great pliability, and biocompatibility.

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