“The report on Medical Polycarbonate Market was recently published by SDKI, which includes the latest market trends, current and future opportunities along with the factors that are driving the growth of the market. This report further encompasses the records for the expansion of the market along with information on the investment opportunities that help the clients to take positive decisions on the parameters for gaining profitable revenues. Moreover, the report also contains identification and investigation of the market structure, in-depth qualitative analysis, restraints & challenges, growth drivers, emerging product trends & market opportunities and Porter’s five forces.
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Medical Polycarbonate Market: Overview
- Polycarbonate offers strong UV protection. It manufactured by polymerization of a monomer containing hydroxyl end groups and phosgene. Led by its high transparency, polycarbonate is employed in the production of eyewear lenses and is often considered a better alternative to glass. Furthermore, polycarbonate is almost four times stronger than fiberglass and has high tensile strength of 70 Mpa.
- Excellent clarity and strength make polycarbonate the resin of choice in the production of devices such as hemodialysis filter membranes, surgical instrument handles, and housings of oxygenator devices. Its other applications include needle-free injection systems, perfusion equipment, blood centrifuge bowls, and stopcocks.
- Based on grade, the global medical polycarbonate market can be bifurcated into lipid-resistant and high-temperature grade. The lipid-resistant grade segment dominated the global medical polycarbonate market in 2019. Leading share of the segment can be ascribed to the excellent ability of lipid-resistant grade polycarbonate to deliver non-water-soluble drugs in IV connector components. Use of this grade also helps in reducing stress cracking of female luer fittings when exposed to lipid emulsions. The cost of high-temperature grade is higher than that of lipid-resistant grade polycarbonate. This is expected to hamper the growth of the segment in near future. However, this grade is extensively used in the production of surgical instruments, clinical lab wares, etc. owing to its ability to withstand flash autoclaving cycles.
Key Growth Drivers of Medical Polycarbonate Market
- Properties of medical polycarbonate such as its excellent clarity, biocompatibility, high impact resistance, and strength make medical polycarbonate an ideal material for the formulation of fluid delivery & IV connection components, renal dialysis products, cardiovascular devices, surgical instruments, and medical packaging, lenses, catheters, syringes, etc. Additionally, medical polycarbonate can replace glass or metal in many products, owing to its broad range of physical properties. This helps in prevention of potentially life-threatening material failures.
- Increase in geriatric population and rise in number of diseases across the globe are anticipated to drive the demand for intravenous components, including stopcocks, y-injection sites, cannulas, check valves, filter housings, male and female luer fittings, and needle-free injection systems in the near future. In turn, this is projected to drive the demand for fluid delivery & IV connection components, thereby boosting the medical polycarbonate market in the near future.
Lucrative Opportunities in Medical Polycarbonate Market
- Established players can invest in R&D activities to develop innovative solutions in order to lower the cost of production of medical polycarbonate
- Manufacturers such as Teijin Ltd, Idemitsu Kosan, LG Chemicals, RTP Company, and Lotte Chemical are engaged in the production of polycarbonate. These are established players in the global polycarbonate market. They can obtain the certification and technology required to enter the medical polycarbonate market.
North America to Dominate Medical Polycarbonate Market
- The medical polycarbonate market in North America is dominated by manufacturers such as Trinseo S.A. and GOEX Corporation. These manufacturers are extensively engaged in new product launches to increase their share in the global medical polycarbonate market. For instance, on February 3, 2020, Trinseo S.A. launched a new wear resistant, high lubricity polycarbonate for medical devices at Pharmapack and MD&M West, the largest medical design & manufacturing events in the world.
- According to the National Kidney Foundation, chronic kidney disease affects an estimated 37 million people in the U.S. About 15% of the adult population and one in three adults in the U.S. is at risk for this disease. Furthermore, according to the U.S. Department of Health & Human Services, heart disease is the leading cause of death for people of most racial and ethnic groups across the country, and one person dies every 37 seconds in the U.S. from cardiovascular disease. These factors are expected to drive the demand for fluid delivery & IV connections components, renal dialysis products, cardiovascular devices and surgical instruments, etc. In turn, this is anticipated to boost the medical polycarbonate market in the near future.
- The medical polycarbonate market in Asia Pacific is anticipated to expand at a faster pace than that in other regions in the near future. Rise in support from governments of various countries such as China and India and growth in foreign direct investments in the medical industry are the prominent factors projected to drive the medical polycarbonate market in these countries. Manufacturers of medical polycarbonate in Asia Pacific are expanding their production facilities to meet the rising demand for medical polycarbonate in the medical sector across the region. This is also likely to propel the medical polycarbonate market in Asia Pacific.
Leading Players in Medical Polycarbonate Market
- Major players operating in the global medical polycarbonate market include
- Covestro AG
- Mitsubishi Engineering-Plastics Corporations
- Trinseo S.A.
- Lotte Chemical Corporation
- GOEX Corporation
- Chi Mei Corp
- Covestro AG accounted for major share of the global medical polycarbonate market in 2019. The company is the largest producer of polycarbonate in the world. It also offers a wide range of product offerings for the medical polycarbonate market. Furthermore, Covestro AG is extensively engaged in new product launch and capacity expansion in order to increase its presence across the medical industry. On January 30, 2020, the company announced it had launched three medical-grade polycarbonates for drug delivery and surgical devices. The product lines of polycarbonate are Makrolon M204 LF, Makrolon M402 LF, and Makrolon M404 LF.
Medical Polycarbonate Market – Scope of the Report
The latest study collated and published analyzes the historical and present-day scenario of the global medical polycarbonate market to accurately gauge its potential development. The study presents detailed information about the important growth factors, restraints, and key trends that are creating the landscape for the future growth of the medical polycarbonate market to identify the opportunistic avenues of the business potential for stakeholders. The report also provides insightful information about how the medical polycarbonate market will progress during the forecast period of 2020 to 2030.
The report offers intricate dynamics about the different aspects of the medical polycarbonate market that aids companies operating in the market in making strategic development decisions. The study also elaborates on the significant changes that are highly anticipated to configure the growth of the medical polycarbonate market during the forecast period. It also includes a key indicator assessment to highlight the growth prospects of the medical polycarbonate market, and estimate statistics related to the market progress in terms of value (US$ Thousand) and volume (tons).
The report mentions company profiles of key players that are currently dominating the medical polycarbonate market, wherein, various development, expansion, and winning strategies practiced and executed by leading players have been presented in detail.
Key Questions Answered in the Report on Medical Polycarbonate Market
The report provides detailed information about the medical polycarbonate market on the basis of comprehensive research on various factors that are playing a key role in accelerating the growth potential of the market. Information mentioned in the report answers path-breaking questions for companies that are currently functioning in the market and are looking for innovative ways to create a unique benchmark in the medical polycarbonate industry, so as to help them make successful strategies and take target-driven decisions.
- Which grade is likely to generate the highest revenue by 2030?
- Which processing technology of medical polycarbonate is expected to expand at a rapid pace by the end of 2030?
- Which application is the major consumer of medical polycarbonate?
- How much revenue is the medical polycarbonate market expected to generate by the end of the forecast period?
- How are key market players successfully earning revenue out of the advantages of medical polycarbonate?
- What all companies operate across the globe?
- What are the indicators that are expected to drive the medical polycarbonate market?
- Which regions are likely to provide profitable scope of opportunities for competitors in the medical polycarbonate market?
Research Methodology – Medical Polycarbonate Market
The research methodology adopted by analysts for combining the medical polycarbonate market report is based on detailed primary as well as secondary research. With the help of in-depth insights of the industry-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts of the medical polycarbonate market.
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During the primary research phase, analysts interviewed industry stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on data obtained through the interviews of genuine resources, analysts have emphasized the changing scenario of the medical polycarbonate market.
For secondary research, analysts scrutinized numerous annual report publications, white papers, industry association publications, and company websites to obtain the necessary understanding of the medical polycarbonate market.
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