Medical Polyoxymethylene (POM) Market to grow by USD 2,719.15 million from 2022 to 2027; Rising demand from drug contact and delivery applications boosts the market

NEW YORK, Aug. 10, 2023 /PRNewswire/ -- The medical polyoxymethylene (POM) market is set to grow by USD 2,719.15 million from 2022 to 2027. However, the growth momentum will progress at a CAGR of 5.4% during the forecast period, according to Technavio. The medical polyoxymethylene (pom) market is fragmented, and the companies are seeking strong partnerships with automotive, industrial, and commercial companies to compete in the market. ADDTEK Chemical, Asahi Kasei Corp., Ascend Performance Materials Operations LLC, Avient Corp., BASF SE, Celanese Corp., Daicel Corp., DuPont de Nemours Inc., Ensinger GmbH, Inventro Polymers, Kolon Plastics Inc., LG Chem Ltd., Mitsubishi Chemical Corp., Saudi Basic Industries Corp., Westlake Plastics, Yuntianhua Group Co. Ltd., and Korea Engineering Plastics Co. Ltd. are some of the major market participants -. To know about the company's offerings - Request a sample report

Medical Polyoxymethylene (POM) Market 2023-2027: Scope

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The medical polyoxymethylene (pom) market report covers the following areas:

Medical Polyoxymethylene (POM) Market Size

Medical Polyoxymethylene (POM) Market Trends

Medical Polyoxymethylene (POM) Market Industry Analysis

Porter's Five Forces Analysis

Customer Landscape

The medical polyoxymethylene (POM) market is fragmented, and the degree of fragmentation will accelerate. The rising demand from drug contact and delivery applications will offer immense growth opportunities. However, the stringent regulations on polyoxymethylene will hamper the market growth.

Medical Polyoxymethylene (POM) Market 2023-2027: Drivers & Challenges

DRIVERS

The increasing demand from drug contact and delivery applications drives the medical polyoxymethylene (POM) market growth. One of the main applications of polyoxyethylene is in the manufacturing of medical devices that require constant cleaning and sterilization. There is increasing adoption of polyoxyethylene due to its several properties such as high strength and stiffness and low-frictional properties. Additionally, it is extensively used in the manufacture of implantable medical devices, which needs materials that are biocompatible. Furthermore, there is an increasing preference for polyoxyethylene for orthopedic implants and dental implants due to its biocompatible and lightweight properties. Hence, such factors are expected to drive market growth during the forecast period.

TRENDS

The emerging applications in tissue engineering are a primary trend in the market during the forecast period. One of the main applications of polyoxyethylene includes engineering thermoplastics mainly due to its mechanical properties, high stiffness, low friction coefficient, and dimensional stability. The main emerging trend in the market is the use of polyoxymethylene in tissue engineering. There is increasing demand for scaffold materials over the past decade as they offer a platform for tissue repair and regeneration. Some of the main advantages of polyoxymethylene-based scaffold materials are its high level of biocompatibility as well as high mechanical strength that can withstand the mechanical stresses and strains that arise during surgical implantation and in-vivo tissue growth. Hence, such factors are expected to drive market growth during the forecast period.

CHALLENGES

Stringent regulations on polyoxyethylene are a major challenge hindering the medical polyoxymethylene market growth. There is an increase in the adoption of polyoxyethylene across the hospital sector due to its various applications. Some of the key medical devices which are manufactured using polyoxyethylene include valves, cannulas, connectors, and other small devices. However, there are severe side effects and reactions in patients due to the presence of polyoxyethylene. Some of the key allergic reactions which are caused due to polyoxyethylene include mild skin irritation or severe anaphylaxis. Hence, such factors can negatively impact market growth which in turn can hinder the medical polyoxymethylene market growth during the forecast period.

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Medical Polyoxymethylene (POM) Market 2023-2027: Segment Analysis

Type

Application

Geography

Medical Polyoxymethylene (POM) Market 2023-2027: Segmentation Highlights

The market share growth by the homopolymer POM segment will be significant during the forecast period. There is increasing adoption of the homopolymer POM segment across healthcare sectors due to its several properties such as high strength, rigidity, and chemical resistance. Additionally, there is a growing popularity for homopolymer POM for several medical applications, including stethoscopes and spare parts, sphygmomanometers and spares, otoscopes, ophthalmoscopes, pulse oximeters, fetal doppler, and others. Hence, such factors are expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.

The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies, growth strategies, product innovations, new product launches, investments, and growth in market share, among others Buy the Report

Medical Polyoxymethylene (POM) Market 2023-2027: Key Highlights

CAGR of the market during the forecast period 2023-2027

Detailed information on factors that will assist Medical Polyoxymethylene (POM) Market growth during the next five years

Estimation of the Medical Polyoxymethylene (POM) Market size and its contribution to the parent market

Predictions on upcoming trends and changes in consumer behavior

The growth of the Medical Polyoxymethylene (POM) Market across APAC, North America, Europe, South America, and the Middle East and Africa

Analysis of the market's competitive landscape and detailed information on vendors

Comprehensive details of factors that will challenge the growth of Medical Polyoxymethylene (POM) Market players

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Medical Polyoxymethylene (POM) Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 5.4%

Market growth 2023-2027

USD 2,719.15 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

4.91

Regional analysis

APAC, North America, Europe, South America, and Middle East and Africa

Performing market contribution

APAC at 41%

Key countries

US, China, India, Germany, and the UK

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

ADDTEK Chemical, Asahi Kasei Corp., Ascend Performance Materials Operations LLC, Avient Corp., BASF SE, Celanese Corp., Daicel Corp., DuPont de Nemours Inc., Ensinger GmbH, Inventro Polymers, Kolon Plastics Inc., LG Chem Ltd., Mitsubishi Chemical Corp., Saudi Basic Industries Corp., Westlake Plastics, Yuntianhua Group Co. Ltd., and Korea Engineering Plastics Co. Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents

1 Executive Summary

1.1 Market overview

2 Market Landscape

2.1 Market ecosystem

3 Market Sizing

3.1 Market definition

3.2 Market segment analysis

3.3 Market size 2022

3.4 Market outlook: Forecast for 2022-2027

4 Historic Market Size

4.1 Global medical polyoxymethylene (POM) market 2017 - 2021

4.2 Type Segment Analysis 2017 - 2021

4.3 Application Segment Analysis 2017 - 2021

4.4 Geography Segment Analysis 2017 - 2021

4.5 Country Segment Analysis 2017 - 2021

5 Five Forces Analysis

5.1 Five forces summary

5.2 Bargaining power of buyers

5.3 Bargaining power of suppliers

5.4 Threat of new entrants

5.5 Threat of substitutes

5.6 Threat of rivalry

5.7 Market condition

6 Market Segmentation by Type

6.1 Market segments

6.2 Comparison by Type

6.3 Homopolymer POM - Market size and forecast 2022-2027

6.4 Copolymer POM - Market size and forecast 2022-2027

6.5 Market opportunity by Type

7 Market Segmentation by Application

7.1 Market segments

7.2 Comparison by Application

7.3 Dialysis machine - Market size and forecast 2022-2027

7.4 Handles for surgical instruments - Market size and forecast 2022-2027

7.5 Inhalers - Market size and forecast 2022-2027

7.6 Others - Market size and forecast 2022-2027

7.7 Market opportunity by Application

8 Customer Landscape

8.1 Customer landscape overview

9 Geographic Landscape

9.1 Geographic segmentation

9.2 Geographic comparison

9.3 APAC - Market size and forecast 2022-2027

9.4 North America - Market size and forecast 2022-2027

9.5 Europe - Market size and forecast 2022-2027

9.6 South America - Market size and forecast 2022-2027

9.7 Middle East and Africa - Market size and forecast 2022-2027

9.8 US - Market size and forecast 2022-2027

9.9 China - Market size and forecast 2022-2027

9.10 Germany - Market size and forecast 2022-2027

9.11 India - Market size and forecast 2022-2027

9.12 UK - Market size and forecast 2022-2027

9.13 Market opportunity by geography

10 Drivers, Challenges, and Trends

10.1 Market drivers

10.2 Market challenges

10.3 Impact of drivers and challenges

10.4 Market trends

11 Vendor Landscape

11.1 Overview

11.2 Vendor landscape

11.3 Landscape disruption

11.4 Industry risks

12 Vendor Analysis

12.1 Vendors covered

12.2 Market positioning of vendors

12.3 Asahi Kasei Corp.

12.4 Avient Corp.

12.5 BASF SE

12.6 Celanese Corp.

12.7 Daicel Corp.

12.8 DuPont de Nemours Inc.

12.9 Ensinger GmbH

12.10 Inventro Polymers

12.11 Kolon Plastics Inc.

12.12 Korea Engineering Plastics Co. Ltd.

12.13 LG Chem Ltd.

12.14 Mitsubishi Chemical Corp.

12.15 Saudi Basic Industries Corp.

12.16 Westlake Plastics

12.17 Yuntianhua Group Co. Ltd.

13 Appendix

13.1 Scope of the report

13.2 Inclusions and exclusions checklist

13.3 Currency conversion rates for US$

13.4 Research methodology

13.5 List of abbreviations

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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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