Medical polymers market forecast to grow at healthy rate through 2020 -- K Trade Fair

Medical polymers market forecast to grow at healthy rate through 2020

04.09.2015

The medical polymers market will experience robust growth through 2020 in all geographies, reaching an expected value of $17.05 billion, according to a new business report from Grand View Research (San Francisco, CA). Demand for single-use devices and continuing substitution of metals and glass with lightweight, high-performance polymers coupled with demand for medical technology from an aging population will drive the increased use of plastics in medical devices.

The global medical polymers market was valued at $9.69 billion in 2013, says Grand View Research, and it is forecast to grow at a CAGR of 8.4% through 2020.

Medical resins and fibers was the leading product segment, generating revenues worth $7.04 billion in 2013. Growing demand for low-cost, high-strength and durable materials for various applications including packaging is expected to drive growth.


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