Medical Polyoxymethylene Market: Market Analysis, Future Trends and Opportunities During the Forecast Period 2023-2030
Medical Polyoxymethylene Market |
The Medical
Polyoxymethylene Market was estimated at US$ 199.8 million
in 2022, and from 2023 to 2030, it is predicted to increase at a compound
annual growth rate (CAGR) of 3.37%.
Polyoxymethylene (POM), also known
as polyacetal or acetal, is a high-performance engineering thermoplastic that
belongs to the family of polymeric materials. It is a semi-crystalline polymer
characterized by its excellent mechanical properties, dimensional stability,
low friction coefficient, and resistance to wear and chemicals.
Market Growth
One of the key factors driving the
growth of the medical Medical
Polyoxymethylene Market is the rising need for advanced medical devices and
equipment. POM is widely used in the production of surgical instruments, dental
devices, drug delivery systems, and other medical equipment. Its high strength,
dimensional stability, and resistance to wear and chemicals make it an ideal
choice for these applications. Moreover, POM can withstand repeated
sterilization cycles, including steam autoclaving and gamma radiation, which is
essential in maintaining the sterility of medical devices.
Market Analysis
Additionally, the increasing
geriatric population and the prevalence of chronic diseases have fueled the
demand for medical devices and implants. POM is used in the manufacturing of
joint replacements, orthopedic implants, and prosthetics due to its durability
and biocompatibility. The growing adoption of minimally invasive surgical
procedures has further boosted the demand for POM-based instruments and
devices.
Market Segmentation
By Geographical Factors
In terms of regional analysis,
North America and Europe, Latin America, Aisa,Pacific,Middle East and Africa have been the dominant markets for medical Medical Polyoxymethylene Market owing to
the well-established healthcare infrastructure, technological advancements, and
high healthcare expenditures in these regions. However, emerging economies in
Asia Pacific, Latin America, and the Middle East are witnessing rapid growth in
their healthcare sectors, which presents significant opportunities for the
medical POM market.
By Products
·
Homopolymer POM and copolymer POM, respectively
·
Medical devices such as a dialysis machine, surgical
instrument handles, inhalers, insulin pens, medical trays, and pharmaceutical
closures are examples of medical devices.
Competitive Analysis
Ensinger, Korea Engineering
Plastics Co. Ltd., Celanese Corporation, Daicel Corporation (Polyplastics Co.
Ltd.), DuPont de Nemours Inc., Mitsubishi Chemical Corporation, Westlake
Plastics Company, and Yuntianhua Group Co. Ltd.
Market Growth Drivers
1. Demand for Drug Contact and Delivery Applications: POM is
widely utilized in drug contact and delivery applications within the medical
field. The precise mechanical properties of POM, including dimensional
stability and low friction coefficient, make it suitable for drug delivery
devices such as inhalers, insulin pens, and infusion sets. POM's ability to
withstand repeated sterilization cycles is crucial in maintaining the integrity
and safety of these devices.
2. Expanding Medical Devices Industry: The medical
devices industry is experiencing rapid growth worldwide. Technological
advancements, increasing healthcare investments, and the rising aging
population are driving the expansion of this industry. POM is extensively used
in the production of various medical devices, including surgical instruments,
orthopedic implants, dental devices, and prosthetics.
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