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The Global Medical Polyoxymethylene (POM) Market size is estimated to grow/decline by USD 2,719.15 million between 2022 and 2027 exhibiting a CAGR of 5.4%. Polyoxymethylene, also known as POM or acetal, is a synthetic thermoplastic polymer that is commonly used in medical devices and equipment such as valves, cannulas, connectors, and other small devices. It has high stiffness and toughness, good resistance to decay and chemicals, and is suitable for use in high-stress applications. POM is used in medical equipment such as surgical instruments, handles, and other applications where strength, durability, and sterilization capabilities are required. It is also biocompatible and is approved by regulatory agencies such as the Food and Drug Administration (FDA).
The growth of the market depends on several factors, including the rising demand for drug contact and delivery applications, the growing demand for minimally invasive surgical procedures, and the growing awareness of the benefits of using high-performance polymers in the healthcare sector.
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Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The rising demand from drug contact and delivery applications is notably driving the Medical POM Market growth. Polyoxymethylene is used extensively for manufacturing medical devices that need frequent cleaning and sterilization. These devices deliver accurate and consistent doses of insulin or medication to patients. The properties of polyoxymethylene, such as high strength and stiffness and low-frictional properties, make it ideal for these applications.
Polyoxymethylene is used for the production of implantable medical devices, which require materials that are biocompatible. It is also used for implantable medical devices owing to its biocompatible and lightweight properties, which make it ideal for applications such as orthopedic implants and dental implants. Polyoxymethylene is also used in drug-delivery systems. Such factors are expected to increase the demand for polyoxymethylene in the healthcare sector, which, in turn, will propel the growth of the medical polyoxymethylene (POM) market during the forecast period.
The emerging applications in tissue engineering are a key trend shaping the medical polyoxymethylene market. Polyoxymethylene is used extensively in engineering thermoplastics due to its mechanical properties, high stiffness, low friction coefficient, and dimensional stability. The development of scaffold materials is an emerging application of polyoxymethylene in tissue engineering. The demand for scaffold materials has increased over the last few decades as they provide a platform for tissue repair and regeneration.
Polyoxymethylene-based scaffold materials have various advantages, such as a high level of biocompatibility. They also have high mechanical strength and can withstand the mechanical stresses and strains that arise during surgical implantation and in-vivo tissue growth. The development of artificial heart valves is another potential application of polyoxymethylene. Polyoxymethylene-based heart valves have high mechanical strength and a low coefficient of friction. These factors are expected to fuel the growth of the Medical POM market during the forecast period.
Stringent regulations on polyoxymethylene are challenging the medical polyoxymethylene market growth. Polyoxymethylene is a versatile engineering plastic that has a wide range of applications in the healthcare sector. Polyoxymethylene is used to make various medical components such as valves, cannulas, connectors, and other small devices. However, it can cause adverse reactions in patients. Polyoxymethylene can cause allergic reactions in some patients, such as mild skin irritation or severe anaphylaxis. Therefore, strict regulations ensure that polyoxymethylene meets specific requirements for biocompatibility in the healthcare sector.
Polyoxymethylene tends to break down over time and releases toxic byproducts such as toxic formaldehyde gas. Its degradation can lead to the release of toxic substances such as formaldehyde and acetaldehyde. The processing methods should be carefully checked to ensure that the finished product meets all necessary requirements. Failure to meet these guidelines can result in a ban on the use of polyoxymethylene in medical applications. Such factors are expected to hinder the adoption of polyoxymethylene, which will negatively impact the growth of the Medical POM Market during the forecast period.
This report extensively covers market segmentation by Type (homopolymer pom and copolymer pom), Application (dialysis machine, handles for surgical instruments, inhalers, and others), and Geography (APAC, North America, Europe, South America, and Middle East and Africa).
The homopolymer POM segment will account for a significant share of market growth during the forecast period. Homopolymer POM is extensively used in the healthcare sector owing to its properties such as high strength, rigidity, and chemical resistance.
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The homopolymer POM segment was valued at USD 4,245.21 million in 2017 and continued to grow until 2021. Medical devices and equipment require frequent sterilization to prevent infections. Homopolymer POM is a popular choice for medical applications such as stethoscopes and spare parts, sphygmomanometers and spares, otoscopes, ophthalmoscopes, pulse oximeters, fetal doppler, and others. Homopolymer POM is also preferred in medical applications for its high dimensional stability, which ensures the accuracy and consistency of medical devices and tools. Its high strength and rigidity make it an ideal material for applications that require durability and resistance to wear and tear. Homopolymer POM has high chemical resistance, which makes it ideal for use in medical equipment that encounters various chemicals and bodily fluids. Such factors are expected to increase the demand for homopolymer POM, which, in turn, will fuel the growth of the Medical POM Market during the forecast period.
Based on application segment, the market is classified into dialysis machine, handles for surgical instruments, inhalers, and others
APAC is estimated to contribute 41% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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APAC is expected to experience significant growth in the global medical polyoxymethylene market during the forecast period. China, India, Australia, Indonesia, and Thailand are some of the major revenue contributors in APAC. The prevalence of chronic diseases, such as diabetes, cancer, heart disease, and respiratory illnesses, is increasing in APAC. Moreover, the region is experiencing a rapid epidemiological transition due to urbanization, industrialization, and changes in lifestyle and dietary habits. These factors have led to a significant rise in the burden of chronic diseases in the region. Therefore, the demand for medical polyoxymethylene has increased. Initiatives for improving healthcare facilities across APAC are also likely to fuel market growth.
In 2020, the COVID-19 pandemic positively impacted the Medical POM Market market in APAC. The pandemic resulted in high demand for dialysis machines, surgical instruments, inhalers, insulin pens, medical strays, and pharmaceutical closures. However, the pandemic negatively impacted the global supply chain, causing disruptions and delays in the procurement of raw materials. In 2021, the initiation of large-scale vaccination drives by the governments led to the lifting of lockdown restrictions and the resumption of business activities. As a result, companies are adopting various strategies, which include expanding their operations and investing in the region. Such factors are expected to drive the growth of the regional medical polyoxymethylene POM market during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Medical Polyoxymethylene (POM) Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Asahi Kasei Corp. - The company offers medical polyoxymethylene POM such as Tenac.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
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.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The medical polyoxymethylene (pom) market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Medical Polyoxymethylene (POM) Market Scope |
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Report Coverage |
Details |
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Page number |
165 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.4% |
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Market growth 2023-2027 |
USD 2,719.15 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
4.91 |
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Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 41% |
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Key countries |
US, China, India, Germany, and UK |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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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. |
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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 forecast period |
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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. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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