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The medical engineered materials market is forecasted to achieve notable growth in the coming few years with a forecast CAGR (compound annual growth rate) of more than 13%, as per The Business Research Company’s market report!

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The Medical Engineered Materials Market Size In 2022 And Forecast
The global medical engineered materials market is expected to grow from $14.71 billion in 2021 to $16.74 billion in 2022 at a compound annual growth rate (CAGR) of 13.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The market is expected to grow to $27.90 billion in 2026 at a CAGR of 13.6%.

The medical engineered materials market consists of sales of medical engineered products by entities (organizations, sole traders, and partnerships) that are used to integrate key materials science modules with an understanding of medical design.

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Increase In The Instances Of Chronic Diseases Is Driving The Growth Of The Medical Engineered Materials Market
For instance, in June 2020, according to the World Health Organization, a Switzerland-based government agency, chronic disease prevalence is expected to rise by 57% by the year 2020. Further, in June 2021, according to the World Health Organization (WHO), a Switzerland-based government agency, CVDs took the lives of 17.9 million individuals worldwide in 2019, accounting for 32% of all deaths. Heart attacks and strokes were responsible for 85% of these deaths. CVDs were responsible for 38% of the 17 million premature deaths (before the age of 70) caused by noncommunicable diseases in 2019. Therefore, the increasing instances of chronic diseases are driving the growth of the medical engineered materials market.

Competitive Landscape And The Regional Analysis Of The Medical Engineered Materials Market
Major players in the medical engineered materials market are Evonik Industries AG, Covestro AG, BASF SE, Solvay S.A, SABIC, Trelleborg AB, Koninklijke DSM N.V, Celanese Corporation, DuPont de Nemours Inc, Ethicon Inc, Henkel AG & Co. KGaA, Huntsman Corporation, Momentive Performance Materials Inc., Nitto Denko Corporation, and Recticel.

Additionally, as per TBRC’s research – Asia-Pacific was the largest region in the medical engineered materials market in 2021 holding the largest market share and is expected to be the fastest-growing region in the forecast period.

The Medical Engineered Materials Global Market Report 2022  covers regional data on key drivers, opportunities, and strategies for the seven major regions of the world that are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the medical engineered materials market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The report includes market size and forecast market shares for all the regions and countries with respect to the major players of the medical engineered materials market.

Product Innovations – A Key Trend In The Medical Engineered Materials Market
Major companies operating in the market are introducing new innovative products such as polycarbonate resin which is based on certified renewable feedstock to sustain their position in the market.

Medical Engineered Materials Market Segmentation By The Business Research Company

1) By Type: Medical Plastics, Medical Foams, Medical Films, Medical Adhesives, Medical Elastomer

2) By Application Type: Medical Devices, Medical Disposables, Medical Wearables, Advanced Woundcare

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