Medical polymers market benefits from aging population

Global demand for medical polymers will expand by 5.6%/yr from 2012 to 2018 with revenue to grow even faster, expanding by 8.4%/yr over the same time frame.  A key driver, according to the report's publisher, Transparency Market Research, is the fact that more than16% of the global population will be over 65 years of age by 2050.

In 2011, the market was valued at $8.4 billion, with 4,391.0 kilo tons of demand.  That demand is forecast to hit 6,411.7 kilo tons in 2018. Much of those plastics will be used in disposable devices, which will see their market expand in correlation with the aging population.

"The home healthcare directly impacts the sale of medical disposables, which are increasingly being made from polymers owing to reduced cost and superior performance," the report stated, adding that this trend could also benefit the development and use of biodegradable plastics. "[Biodegradable plastics] in the medical industry are also expected to be a key feature responsible for the development of the market." In light of this, and due to the relatively weak penetration today, biodegradable plastics are expected to witness exponential growth over the forecast period, according to Transparency.

Polyolefins in the lead, ETPs grow the fastest
The report said that fibers and resins dominated the medical polymers market, accounting for more than 85% of global consumption in 2011. PVC and PP were the highest consumed resins, accounting for more than 55% of sales in 2011. However, engineering thermoplastics, including PC and ABS, are expected to have the fastest growth going forward, expanding at a CAGR of more than 8% from 2012 to 2018. Elastomers including SBC, TPU, TPO, liquid silicone rubber, and TPV, were the second largest consumed product segment for the market, with consumption over 550 kilo tons in 2011.