This growth is attributed to the increasing healthcare expenses in emerging economies, and rising geriatric population increasing need of advanced medical technologies and devices. Also, innovations for minimally invasive surgical procedures is increasing demand for medical engineered materials globally.
New York, April 08, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Medical Engineered Materials Market by Type, Application And Region - Global Forecast to 2025" - https://www.reportlinker.com/p06058047/?utm_source=GNW
Advancements in the designing of medical electronic components is also among the major drivers of the medical engineered materials comsumption.
Medical Plastics accounted for the largest share in total medical engineered materials market
Medical plastics is the largest type among other medical engineered materials used in the manufacture of medical devices and disposables.Medical plastics can be classified as plastics used to manufacture medical disposables, medical instruments & tools, and drug delivery devices.
Growing healthcare infrastructure in emerging economies and increasing instances of chronic diseases are expected to drive the medical devices market, which, in turn, is likely to propel the demand for medical plastics.
Medical disposables accounted for the largest market share
The medical disposables segment accounted for the largest share in the overall market in 2019. Medical disposables can be defined as products, which are designed for single-use applications. Increased incidences of chronic diseases, changing lifestyle of the middle-income group, demand for better healthcare facilities, and an increase in the aging population are the major drivers for the market
APAC is the largest and faststed growing medical engineered materials market globally
APAC was the largest market for medical engineered materials in 2019.Growth in APAC is primarily attributed to the fast-paced expansion of the economies, such as China, India, Indonesia, Thailand, Australia, and Malaysia.
The region has become an attractive location for pharmaceutical drug production and medical equipment manufacturing companies. The major drivers for the medical devices sector in APAC are the change in reforms regarding value-based care in existing systems, ecosystem partnership across the value-chain, increasing R&D, and digitalization of the healthcare system.
Extensive primary interviews were conducted in the process of determining and verifying sizes of several segments and subsegments of the medical engineered materials market gathered through secondary research.
The breakdown of primary interviews has been given below.
• By Company Type: Tier 1 – 25%, Tier 2 – 50%, and Tier 3 – 25%
• By Designation: C Level Executives – 20%, Director Level – 30%, Others – 50%
• By Region: North America – 20%, APAC – 25%, Europe – 30%, Middle East & Africa – 10%, South America-15%.
The key players in this market are Evonik (Germany), Covestro (Germany), BASF (Germany), Solvay (Belgium), SABIC (Saudi Arabia), Trelleborg AB (Sweden), DSM (Netherlands), Celanese (US), and DuPont (US). These players have adopted strategies of investment & expansion, merger & acquisition, agreement & collaboration, partnership, and new product launch to strengthen their market positions.
This report covers the Medical Engineered materials market and forecasts its market size until 2025.The market has been segmented based on type, form, end-use industry, and region.
The report also provides detailed information on company profiles and competitive strategies adopted by the key players to strengthen their positions in the market.The report also provides insights into the driving and restraining factors in the Medical Engineered materials market, along with opportunities and challenges across these industries.
It also includes profiles for top manufacturers in the market.
Reasons to Buy the Report
The report is expected to help market leaders/new entrants in the following ways:
1. This report segments the Medical Engineered materials market and provides the closest approximations of overall market size for its segments across different verticals and regions.
2. This report is expected to help stakeholders understand the pulse of the market and provide information on key drivers, restraints, challenges, and opportunities influencing the growth of the market.
3. This report is expected to help stakeholders obtain an in-depth understanding of the competitive landscape of the market and gain insights to improve the position of their businesses. The competitive landscape section includes detailed information on strategies, such as new product launch, acquisition, and expansion.
Read the full report: https://www.reportlinker.com/p06058047/?utm_source=GNW
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