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How has the medical engineered materials market grown over the years?

The market size for medical engineered materials has seen a quick expansion in the past few years. It is projected to rise from $22.12 billion in 2024 to $25.43 billion in 2025, exhibiting a robust compound annual growth rate (CAGR) of 15.0%. Factors such as an aging population, regulatory compliance, infection control, materials for implants, and tissue engineering have played a significant role in the historical growth of this market.

What Is the forecasted market size and growth rate for the medical engineered materials market?

The market size for medical engineered materials is predicted to experience a swift expansion in the upcoming years, reaching a valuation of $43.79 billion by 2029 with a Compound Annual Growth Rate (CAGR) of 14.6%. Several factors, such as the worldwide readiness for health crises, advancements in 3D printing and additive manufacturing, innovative coatings, nanomedicine, and tailored medicine, contribute to this growth in the projected period. The forecast period is also expected to witness significant trends including developments in nanotechnology, the rise of biodegradable and resorbable materials, the surge of bioactive and smart materials, the demand for sustainable and eco-friendly materials, and progress in medical technology.

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What are the major factors driving growth in the medical engineered materials market?

The escalation in cases of protracted illnesses is forecasted to fuel the expansion of the medical engineered materials sector. These illnesses are typically ailments that persist for a year or longer and necessitate continuous healthcare or impose restrictions on daily activities, or both. The usage of nanoengineered components to construct a small-scale duplicate of a heart chamber for the treatment of heart conditions is an example. According to future predictions by the National Center for Biotechnology Information (NCBI), a US National Library of Medicine, it is expected that by 2050, the global population suffering from chronic diseases would have risen to 142.66 million, nearly doubling the 71.522 million in 2020. Consequently, the surge in chronic illness cases is propelling the growth of the market for medical engineered materials.

What key areas define the segmentation of the global medical engineered materials Market?

The medical engineered materials market covered in this report is segmented –

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

Subsegments:

1) By Medical Plastics: Polyethylene (PE), Polyvinyl Chloride (PVC), Polycarbonate (PC), Polypropylene (PP)

2) By Medical Foams: Polyurethane Foams, Polyethylene Foams, Silicone Foams

3) By Medical Films: Thermoplastic Films, Biodegradable Films, Adhesive Films

4) By Medical Adhesives: Epoxy Adhesives, Cyanoacrylate Adhesives, Silicone Adhesives

5) By Medical Elastomers: Silicone Elastomers, Thermoplastic Elastomers (TPE), Polyurethane Elastomers

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What are the top market players propelling the growth of the medical engineered materials industry?

Major companies operating in the medical engineered materials market include Evonik Industries AG, Covestro AG, BASF SE, Solvay SA, Saudi Basic Industries Corporation, 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, Recticel Ltd., Victrex plc, Ensinger GmbH, RTP Company, Foster Corporation, Zeus Industrial Products Inc., Saint-Gobain SA, Arkema SA, Eastman Chemical Company, Lubrizol Corporation, PolyOne Corporation, Quadrant AG, Rochling Group, DSM Biomedical, Invibio Ltd., Carpenter Technology Corporation, Heraeus Medical Components GmbH, CeramTec GmbH, Morgan Advanced Materials plc, Freudenberg Medical LLC, Synectic Engineering Inc., Medtronic plc, Abbott Laboratories, Johnson & Johnson, Siemens Healthineers AG

What are the key trends shaping the future of the medical engineered materials market?

Major firms in the medical engineered materials market are launching new products to strengthen their competitive position. For example, in May 2022, Celanese Corporation, a specialty materials company based in the US, introduced Celanex MT PBT 2406MT GF20. This high-performance material, designed for medical devices among other uses, stands out due to its excellent strength, rigidity, and silent sliding properties. Thus, it meets the needs of Class I, Class II, and Class III medical device applications, as well as sectors like automotive, electrical, electronics, industrial machinery, and consumer products. This PBT+PET grade, enhanced with 20% glass fiber, delivers flexible solutions for numerous industries.

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What regions are dominating the medical engineered materials market growth?

Asia-Pacific was the largest region in the medical engineered materials market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the medical engineered materials market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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