ALBANY, New York, August 27, 2013 /PRNewswire/ --
According to a new report published by Transparency Market Research "Medical Polymers, Resins and Fibers (PVC, PP, PE, PS), Elastomers (SBC, Rubber Latex), Biodegradable Plastics Market for Devices, Equipment, Packaging and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2012 - 2018," the global medical polymers demand was 4,391.0 kilo tons in 2011 and is expected to reach 6,411.7 kilo tons in 2018, growing at a CAGR of 5.6% from 2012 to 2018. In terms of revenue, the market was valued at USD 8.4 billion in 2011 and is grow at a CAGR of 8.4% from 2012 to 2018.
Browse the full report at http://www.transparencymarketresearch.com/medical-polymers-market.html
Increase in life expectancy leading to increased demand for healthcare treatment is expected to be the key driver for the medical polymers market. It is estimated that by 2050, over 16% of the global population would be over 65 years of age. This would result in higher demand for home healthcare treatment as the above-mentioned populations is the key segment for the market. Home healthcare directly impacts the sale of medical disposables, which are increasingly being made from polymers owing to reduced cost and superior performance. The development and use of biodegradable plastic in medical industry is also expected to be a key feature responsible for the development of the market over the forecast period.
Fibers and resins dominated the medical polymers market and accounted for over 85% of global consumption in 2011. PVC and PP were the highest consumed resins accounting for over 55% of the segment sale in 2011. However, engineering thermoplastics like PC and ABS are expected to have the fastest growth in the resins and fibers segment, growing at a CAGR of over 8% from 2
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