Technavio's global smart polymers industry analysis predicts that the market will grow at a CAGR of around 20% by 2020. Smart polymers have promising applications in the biomedical field as conveyance systems of therapeutic agents, actuators systems, bio-separation devices, cell culture support systems, sensors, or tissue engineering frameworks. Recently, these polymers have come up with new application areas including medicinal diagnostics, pharmaceuticals, implants, and treatments sectors. They have properties like adaptability and compatibility that make them valuable in medical treatments involving the immune system. Manufacturers are formulating new polymeric materials that assist in biosensor designing, drug delivery systems, tissue engineering systems, wound treatment, and other metabolically controllable systems. Having enormous potential across different applications, the smart polymers market will witness rapid growth in the coming years.
The Americas is the major revenue contributing region in the smart polymers market and is likely to occupy more than 45% of the overall market revenue by 2020. Much of the region’s growth can be attributed to the growing focus on temperature and pH-sensitive polymers. With the governments trying to improve public healthcare systems, the demand for such smart polymers will increase significantly in the region’s medical industry. The smart polymers market in the region is anticipated to grow at a high CAGR of more than 22% during the predicted period.
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The increased consumption of smart polymers in different biomedical applications has opened up several opportunities for the market vendors as the market is projected to grow at a fast pace during the forecast period. The key players hold a very strong position in the market due to their vast geographical reach, product innovations, R&D, pricing, and quality. To sustain themselves in the intensely competitive market environment, vendors are focusing on maintaining a strong distribution network and formulation of application-specific finished smart polymer products. The entry of chemical giants in the market will intensify the competitive scenario in the market during the forecast period.
Leading vendors in the market are -
Segmentation by application and analysis of the smart polymers market
Smart drug delivery systems
The smart drug delivery systems will continue to dominate the smart polymers market during the forecast period and are envisaged to hold more than 38% of the total market share. There is growing demand for smart polymers in drug delivery that adjust their physicochemical properties due to small changes in environmental conditions and offer advanced techniques in dosage. Some of the recent innovations in this area include actively-controlled drug release, self-regulating or controlled delivery systems, capturing protein drugs in a polymer lattice without using organic solvents, and injectable in situ drug spot. The growing use of smart polymers as lattices in pharmaceutical dose formulations will boost the growth prospects for smart drug delivery systems segment in the coming years.
Segmentation by type and analysis of the smart polymers market
Polymers of natural origin
Polymers with dual stimuli-responsiveness
Light-sensitive smart polymers
Phase-sensitive smart polymers
Magnetic-sensitive smart polymers
Thermosensitive polymers demonstrate sensitivity to temperature and change their properties accordingly. These smart polymers are mainly used in medication delivery systems and biomaterials. These polymer systems appear monophasic below a specific temperature and biphasic above it. They are known to exhibit lower critical solution temperature. This kind of smart polymers has the most number of applications owing to their exceptional sensitive balance between the hydrophobic and hydrophilic groups in their structure.
Key questions answered in the report include
What will the market size and the growth rate be in 2020?
What are the key factors driving the global smart polymers market?
What are the key market trends impacting the growth of the global smart polymers market?
What are the challenges to market growth?
Who are the key vendors in the global smart polymers market?
What are the market opportunities and threats faced by the vendors in the global smart polymers market?
Trending factors influencing the market shares of the Americas, APAC, and EMEA.
What are the key outcomes of the five forces analysis of the global smart polymers market?
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