Medical Polyoxymethylene Market

Medical Polyoxymethylene Market Analysis by Type (Homopolymer, and Copolymer); by Grade (Standard, Weather Resistant, Low VOC, and Others); and by Application [Drug Delivery System (Inhalers, Insulin Pens, Hose Clamp/Clip, Stop Cock/Manifold, and Others), and Medical Devices (Dialysis Machine, Handles for Surgical Instruments, Skin stretchers, Male Circumcision Device, and Others)] – Global Supply & Demand Analysis & Opportunity Outlook 2021-2031

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Report ID: 4680 | Published On: Feb 01, 2023
  1. Introduction
    • Market Definition
    • Market Segmentation
    • Product Overview
  2. Assumptions and Acronyms
  3. Research Methodology
  4. Research Process
    • Primary Research
    • Manufacturers
    • Distributors
    • End Users
    • Secondary Research
    • Market Size Estimation
  5. Executive Summary - Global Advanced Therapy Medicinal Products Market
  6. Analysis of Market Dynamics
  7. Drivers
  8. Trends
  9. Key Market Opportunities for Business Growth
  10. Major Roadblocks for the Market Growth
  11. Regulatory & Standard Landscape
  12. Value Chain Analysis
  13. Potential ATMP Treatment Analysis
  14. Pricing Analysis of Global Advanced Therapy Medicinal Products Market
  15. Use Case Analysis
  16. Pipeline Analysis
  17. Analysis on the Manufacturing Process
  18. Analysis of COVID-19 Impact on the Global Advanced Therapy Medicinal Products Market
  19. Analysis of End-User Market Share of Global Advanced Therapy Medicinal Products
  20. Competitive Positioning
  21. Competitive Landscape
  22. Market Share Analysis of Major Players (%), 2021
  23. Competitive Benchmarking
  24. Novartis AG.
  25. Takeda Pharmaceutical Company Limited
  26. Gilead Sciences, Inc.
  27. Bluebird Bio, Inc
  28. BioMarin Pharmaceutical Inc
  29. Vericel Corporation
  30. Mallinckrodt Pharmaceuticals
  31. UniQure N.V.
  32. JCR Pharmaceuticals Co., Ltd.
  33. Spark Therapeutics, Inc. (Parent Company: Roche)
  34. Kolon TissueGene, Inc.
  35. Global Advanced Therapy Medicinal Products Market Outlook
  36. By Value (USD million)
  37. By Product
  38. CAR-T Therapy, 2021-2031F (USD million)
  39. Gene Therapy, 2021-2031F (USD million)
  40. Cell Therapy, 2021-2031F (USD million)
  41. Tissue Engineered Product, 2021-2031F (USD million)
  42. By Disease
  43. Oncology, 2021-2031F (USD million)
  44. Genetic Disorders, 2021-2031F (USD million)
  45. CNS, 2021-2031F (USD million)
  46. Dermatology, 2021-2031F (USD million)
  47. Others, 2021-2031F (USD million)
  48. By End-User
  49. Hospitals & Clinics, 2021-2031F (USD million)
  50. Research & Academic Institutes, 2021-2031F (USD million)
  51. Global Advanced Therapy Medicinal Products Market by Region
  52. North America, 2021-2031F (USD million)
  53. Europe, 2021-2031F (USD million)
  54. Asia-Pacific, 2021-2031F (USD million)
  55. Latin America, 2021-2031F (USD million)
  56. Middle East & Africa, 2021-2031F (USD million)
  57. North America Advanced Therapy Medicinal Products Market Outlook
  58. By Value (USD million)
  59. By Product
  60. CAR-T Therapy, 2021-2031F (USD million
  61. Gene Therapy, 2021-2031F (USD million)
  62. Cell Therapy, 2021-2031F (USD million)
  63. Tissue Engineered Product, 2021-2031F (USD million)
  64. By Disease
  65. Oncology, 2021-2031F (USD million)
  66. Genetic Disorders, 2021-2031F (USD million)
  67. CNS, 2021-2031F (USD million)
  68. Dermatology, 2021-2031F (USD million)
  69. Others, 2021-2031F (USD million)
  70. By End-User
  71. Hospitals & Clinics, 2021-2031F (USD million)
  72. Research & Academic Institutes, 2021-2031F (USD million)
  73. By Country
  74. US, 2021-2031F (USD million)
  75. Canada, 2021-2031F (USD million)
  76. Europe Advanced Therapy Medicinal Products Market Outlook
  77. By Product
  78. By Disease
  79. By End User
  80. By Country
  81. UK, 2021-2031F (USD Million)
  82. Germany, 2021-2031F (USD Million)
  83. France, 2021-2031F (USD Million)
  84. Italy, 2021-2031F (USD Million)
  85. Spain, 2021-2031F (USD Million)
  86. Russia, 2021-2031F (USD Million)
  87. Netherlands, 2021-2031F (USD Million)
  88. Rest of Europe, 2021-2031F (USD Million)
  89. Asia Pacific Advanced Therapy Medicinal Products Market Outlook
  90. By Product
  91. By Disease
  92. By End User
  93. By Country
  94. China, 2021-2031F (USD Million)
  95. India, 2021-2031F (USD Million)
  96. Japan, 2021-2031F (USD Million)
  97. South Korea, 2021-2031F (USD Million)
  98. Singapore, 2021-2031F (USD Million)
  99. Australia, 2021-2031F (USD Million)
  100. Rest of Asia-Pacific, 2021-2031F (USD Million)
  101. Latin America Advanced Therapy Medicinal Products Market Outlook
  102. By Product
  103. By Disease
  104. By End User
  105. By Country
  106. Brazil, 2021-2031F (USD Million)
  107. Argentina, 2021-2031F (USD Million)
  108. Mexico, 2021-2031F (USD Million)
  109. Rest of Latin America, 2021-2031F (USD Million)
  110. Middle East & Africa Advanced Therapy Medicinal Products Market Outlook
  111. By Product
  112. By Disease
  113. By End User
  114. By Country
  115. GCC, 2021-2031F (USD Million)
  116. Israel, 2021-2031F (USD Million)
  117. South Africa, 2021-2031F (USD Million)
  118. Rest of Middle East & Africa, 2021-2031F (USD Million)

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Inflation and Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.


In The News

  •  Previously reported in December 2020, Korea Engineering Plastics Co. (KEP), a joint venture held equally by Celanese Corporation and Mitsubishi Gas Chemical Firm, Inc. (MGC), has undergone the restructuring Celanese Corporation, a worldwide chemical and specialty materials company, has declared is complete.

  • Mitsubishi Chemical Corporation said that it has chosen to raise the yearly manufacturing capacity of SoarnoL ethylene vinyl alcohol copolymer (EVOH) resin at its consolidated subsidiary Noltex L.LC by 3,000 tonnes to 41,000 tonnes.


Global Medical Polyoxymethylene Market Definition

Polyoxymethylene (POM) is an engineering plastic extensively used in medical and healthcare applications that is resistant to a variety of cleaning and sanitizing agents as well as a variety of solvents. High-performance designed polyoxymethylene (POM) is typically generated via ring-opening formaldehyde polymerization and is mostly offered in the form of pellets. Formaldehyde is polymerized to create POM resins, which may then be used to create copolymers and homopolymers by combining it with other monomers.

They are well-known for having a variety of construction and mechanical properties that make them a good substitute for metal in the manufacture of a number of medical devices. A wide range of medical specialties, including joint reconstruction, traumatology, spinal treatments, and many more, have been included in the application fields.

POM has a reputation for offering machining characteristics that are similar to those of metals, including thermal and dimensional stability, ultra-high modulus, improved strength, hardness, and rigidity, low friction coefficient, low gas/vapor permeability, dielectric strength, and better retention qualities at high temperatures.


Global Medical Polyoxymethylene Market: Key Insights 

Base Year 

2021

Forecast Year 

2022-2031

CAGR 

6.40%

Base Year Market Size (2021) 

USD 79.81 Million

Forecast Year Market Size (2031) 

USD 147.77 Million

Regional Scope 

  • North America (U.S., and Canada) 
  • Latin America (Mexico, Argentina, Rest of Latin America) 
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific) 
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) 
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of Middle East and Africa) 


Global Medical Polyoxymethylene Market Size, Forecast, and Trend Highlights Over 2021-2031

The global medical polyoxymethylene market is estimated to garner a revenue of USD 147.77 million by the end of 2031 by growing at a CAGR of 6.40% over the forecast period, i.e., 2022 - 2031. Further, the market generated a revenue of USD 79.81 million in the year 2021. The growth can be attribute to rise in prevalence of diabetes all around the world. A total of 537 million individuals (20-79 years old) worldwide have diabetes. By 2030, there would be 643 million diabetics worldwide, and by 2045, there would be 783 million, according to the international diabetes federation. Hence owing to this, the demand for insulin pen treatment is expected to increase. For instance, in the United States, there were 27, 860,691 visits for insulin treatment between 2016 and 2020. Treatment visits with insulin pens grew from 36.1% in 2016 to 58.7% in 2020.

Global Medical Polyoxymethylene Market Size Graph

Further, there has been growth in medical industry which is also estimated to boost the growth of the market. This growth in medical industry is further booming demand for healthcare and medical devices. Additionally, POM has a significant history in the medical industry, notably as an implantable substance. The use of polyoxymethylene in tissue engineering is made possible by its properties, including excellent dimensional stability and thermal stability that enable steam sterilization. This is anticipated to influence the market potential for the expansion of the global medical polyoxymethylene market. Moreover, POM is an appropriate material for tissue culture since it significantly inhibited hematopoietic stem cells' ability to grow and form colonies, whether it was used as a growth substrate or as a medium-wetted component. Consequently, this is expected to create a huge opportunity for the market for medical polyoxymethylene to expand.


Global Medical Polyoxymethylene Market Size Graph
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Global Medical Polyoxymethylene Market: Growth Drivers and Challenges 

Growth Drivers

  • Growing Prevalence of Hospital Care-Associated Infections (HCAIs)

In developed countries, seven patients out of every 100 hospitalized patients and ten patients out of every 100 patients in developing nations contract an HCAI. 10 Additional research from high-income nations revealed that 5%-15% of hospitalized patients develop HCAIs, which could influence patients confined to intensive care units by 9% to 37%. Hospital-associated infections (HCAIs) may arise as a direct result of medical or surgical treatment or indirectly from contact with a healthcare environment. Up to 20% of all surgical patients experience a serious infection at the surgical site or wound. Hence the use of polyyoxymethylene medical instruments are expected to have huge demand in the market. 

  • Rise in Use of Pen Insulin

In the US, the use of insulin pens climbed to 59% between June 2020 and June 2021, while it was predicted to reach 93.6% in Europe, according to an IQVIA® analysis.

  • Surge in Investment in Medical Devices Industry

Foreign investments in the medical equipment sector surged 98% year over year in FY20, from USD 151.87 million to USD 301.01 million.

  • Significant Growth in the Cases of Cardiovascular Disease

According to the World Health Organization, estimation, 17.9 million deaths worldwide in 2019 were attributable to CVDs, or 32% of all fatalities. Heart attack and stroke deaths accounted for 85% of these fatalities.

  • Advancements in Technology

The Mitsubishi Engineering-Plastics Corporation's Iupital 05 Series is a new polyacetal that reduces the formation of formaldehyde. Formaldehyde odors, which are a problem in molding and subsequent processing, would be eliminated by the Iupital 05 Series, which is made to enhance working conditions.

Challenges

  • Availability of Substitutes - It is projected that the development of new plastics appropriate for medical devices, such as PEEK and PC, would hamper the growth of the market under consideration. Some manufacturers, such as Ensinger, prefer to employ polyphenylsulfone (PPSU) and polyetheretherketone (PEEK), which offer somewhat higher performance levels, for use in medical devices owing to their superior physical, chemical, and biocompatible qualities. Therefore, the presence of alternatives hinders market expansion.
  • Frequent Changes in Price of Raw Material
  • Strict Regulation in Order to Protect Environment from the Harmful Thermoplastics


Global Medical Polyoxymethylene Market Segmentation

The global medical polyoxymethylene market is segmented and analyzed for demand and supply by application into drug delivery system, and medical devices. Out of which, the medical devices segment is anticipated to garner the largest revenue by the end of 2031. Further, the medical devices segment is sub-segmented into dialysis machine, skin stretchers, male circumcision device, cruciate ligament operation device, infusion pump and rack system, and others. Out of these, the skin stretchers segment is anticipated to grow with the highest CAGR of 6.78% over the forecast period. However, the dialysis machine sub-segment is expected to garner the second highest revenue of USD 14.80 million by the end of 2031, up from a revenue of USD 7.74 million in the year 2021. The growth of the segment can be attributed to the rising cases of kidney malfunctioning and related diseases. Nearly 786,000 Americans have end-stage renal disease (ESRD), with about 70% receiving dialysis and 30% receiving a kidney transplant, according to a research from the National Institute of Diabetes and Digestive and Kidney Diseases. Between 2008 and 2018, the number of patients receiving home dialysis doubled. Hence this growth in kidney malfunctioning is expected to boost the use of dialysis machine. Since, various top manufacturers employ polyoxymethylene as an appropriate raw material for making dialysis machines as it provides important attributes such as high mechanical strength and stiffness, outstanding dimensional stability and more, this segment is expected to boost the market growth. However, the drug delivery system segment is expected to grow with a highest CAGR of 6.55% over the forecast period.

The global medical polyoxymethylene market is also segmented and analyzed for demand and supply by grade into standard, weather resistant, low VOC, reinforced, special grade, and others. Amongst these segments, the standard segment is anticipated to hold the second largest revenue of USD 36.60 Million by the end of 2031, up from a revenue of USD 19.08 Million in the year 2021. However, weather resistant segment is anticipated to grow at a highest CAGR of 7.03% over the forecast period, backed by growth in number of surgeries which is further boosting demand for surgical instruments. Many reusable surgical instruments are sterilized using heat, which calls for a polymer with weather-resistant qualities to endure such high temperatures. The weather-resistant grade gives polymeric materials the ability to survive the activities of extreme ambient agents (solar radiation, heat, oxygen, moisture, industrial gases, and so on) without substantial shift in their exterior form and functional capabilities (mechanical, dielectric, and others). Hence, these advantages are provided by polyoxymethylene copolymers.

Our in-depth analysis of the global medical polyoxymethylene market includes the following segments:

By Type

  • Homopolymer 
  • Copolymer  

By Grade

  • Standard 
  • Weather Resistant 
  • Low VOC 
  • Reinforced 
  • Special Grade 
  • Others  

By Application

  • Drug Delivery System  
  • Inhalers 
  • Insulin Pens 
  • Hose Clamp/Clip 
  • Stop Cock/Manifold 
  • Others  
  • Medical Devices 
    •  Dialysis Machine
    • Handles for Surgical Instruments
    • Skin Stretchers
    • Male Circumcision Device
    • Cruciate Ligament Operation Device
    • Infusion Pump and Rack System
    • Others 


Global Medical Polyoxymethylene Market Regional Synopsis 

The Asia Pacific medical polyoxymethylene market, amongst the market in all the other regions, is projected to hold the largest market revenue of USD 56.03 million by the end of 2031, growing at a highest CAGR of 6.73% over the forecast period. Moreover, in the year 2021, the market in this region garnered a revenue of USD 29.31 million. The growth of the market in this region can be attributed to upsurge in industrialization, and expanding healthcare sector. Further, growing prevalence of diabetes is also estimated to boost the market growth in this region. For instance, India has about 16% of all diabetes patients worldwide, earning it the moniker "Diabetes Capital of the World." India has close to 70 million diabetics in 2022, and by the year 2045, that figure is projected to rise to about 134 million.

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Top Featured Companies Dominating the Global Medical Polyoxymethylene Market

    Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global medical polyoxymethylene market that are included in our report are BASF SE., Celanese Corporation, Polyplastics Co. Ltd, DuPont de Nemours Inc, Ensinger, Korea Engineering Plastics Co. Ltd, Mitsubishi Chemical Corporation, Westlake Plastics Company, Asahi Kasei Corporation, PolyOne Corporation, and others.


Key Questions Answered in the Report

1) What are the major factors driving the growth of the global medical polyoxymethylene market?

Ans: The major factors driving the growth of the market are growing prevalence of hospital care-associated infections (HCAIs), rise in use of pen insulin, surge in investment in medical devices industry, and others.

2) What would be the CAGR of global medical polyoxymethylene market over the forecast period?

Ans: The market is anticipated to attain a CAGR of 6.40% over the forecast period, i.e., 2022 – 2031.

3) What are the challenges affecting the global medical polyoxymethylene market growth?

Ans: trict regulation in order to protect environment from the harmful thermoplastics, availability of substitutes, and changes in price of raw material are some of the major factors estimated to hinder the growth of the market.

4) Which region will provide more business opportunities for growth of global medical polyoxymethylene market in future?

Ans: The market in Asia Pacific is projected to hold the largest market share by the end of 2031 and provide more business opportunities in the future.

5) Who are the major players dominating the global medical polyoxymethylene market?

Ans: The major players in the market are BASF SE., Celanese Corporation, Polyplastics Co. Ltd, and more.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the medical polyoxymethylene market?

Ans: The market is segmented by type, grade, application, and by region.

8) Which segment captures the largest market size in application in the medical polyoxymethylene market?

Ans: The medical devices segment is anticipated to garner the largest market size by the end of 2031 and display significant growth opportunities.

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