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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