Medical Polyoxymethylene (POM) Market Analysis APAC, North America, Europe, South America, Middle East and Africa - US, China, Germany, India, UK - Size and Forecast 2024-2028

Medical Polyoxymethylene Market Size 2024-2028

The medical polyoxymethylene (POM) market size is forecast to increase by USD 2.89 billion at a CAGR of 5.46% between 2023 and 2028.

• The market is witnessing significant growth due to the increasing demand for drug contact and delivery applications. This biocompatible material's unique properties make it an ideal choice for medical devices and implants. Moreover, the emergence of new applications in tissue engineering is expected to boost market growth. One of the primary applications of POM in the medical sector is in the production of prosthetics, where its rigidity and biocompatibility make it an ideal choice. However, stringent regulations on POM production and usage pose a challenge to market players. Compliance with these regulations requires substantial investments in research and development and manufacturing processes. Adherence to these regulations ensures the production of high-quality POM products, ensuring patient safety and enhancing market trust. In summary, the rising demand from drug delivery and tissue engineering applications, coupled with the challenges of regulatory compliance, are shaping the growth trajectory of the Medical POM market.

What will be the Size of the Medical Polyoxymethylene (POM) Market During the Forecast Period?

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• The market encompasses the production and application of this polymer in various medical devices and equipment. POM's unique properties, such as its excellent chemical resistance, biocompatibility, and non-toxicity, make it a preferred choice In the medical industry. Notable applications include insulin pens and infusion pumps for diabetes management, as well as tissue engineering scaffolds and surgical instruments. The increasing prevalence of chronic diseases, particularly diabetes, fuels the demand for medical devices utilizing POM. Furthermore, health awareness campaigns and lifestyle changes drive the adoption of glucose monitoring devices and other consumer goods. In the engineering plastics sector, POM's environmental sustainability and recyclability align with current trends.

• Medical device manufacturers continue to innovate, developing advanced drug delivery systems, catheters, implants, and surgical instruments using POM. The geriatric population's growing need for medical care also contributes to market growth. In addition, POM's versatility extends to the electrical & electronics sector, where it is used in various components and assemblies. Overall, the medical POM market is poised for continued expansion, driven by technological advancements and evolving healthcare needs.

How is this Medical Polyoxymethylene (POM) Industry segmented and which is the largest segment?

The medical polyoxymethylene (pom) industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

• Type
  • Homopolymer POM
  • Copolymer POM
• Application
  • Dialysis machines
  • Handles for surgical instruments
  • Inhalers
  • Others
• Geography
  • APAC
    • China
    • India
  • North America
    • US
  • Europe
    • Germany
    • UK
  • South America
  • Middle East and Africa

By Type Insights

• The homopolymer pom segment is estimated to witness significant growth during the forecast period.

Homopolymer Polyoxymethylene (POM), a type of thermoplastic polymer, holds significant importance In the healthcare sector due to its superior properties. Its high strength, rigidity, and chemical resistance make it an ideal choice for various medical applications. The ability of homopolymer POM to withstand repeated sterilization cycles is a major factor fueling its demand In the healthcare industry. Medical devices and equipment necessitate frequent sterilization to prevent infections, and homopolymer POM's retention of physical properties post-sterilization makes it a preferred material. In the medical device manufacturing sector, homopolymer POM is extensively used In the production of stethoscopes, sphygmomanometers, otoscopes, ophthalmoscopes, pulse oximeters, fetal dopplers, and other medical equipment.

Its excellent dimensional stability ensures the accuracy and consistency of these devices. Additionally, homopolymer POM is employed In the manufacturing of implants, such as cranial implants, bone cement, and prosthetics, due to its biocompatibility and low friction coefficient. The aging population and increasing prevalence of chronic diseases, including diabetes, further boost the demand for homopolymer POM In the healthcare sector. The electrical & electronics sector, automotive production, aerospace industries, and consumer goods & appliances also utilize homopolymer POM for its desirable properties.

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The homopolymer POM segment was valued at USD 4.43 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

• APAC is estimated to contribute 43% 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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The market is witnessing substantial growth, particularly In the Asia Pacific (APAC) region. APAC was the largest market shareholder in 2023, driven by significant contributions from countries like China, India, Australia, Indonesia, and Thailand. The pharmaceutical industry's expansion in China and India, coupled with an increasing geriatric population, fuels the demand for medical devices and equipment. For instance, the geriatric population in China grew by 14% in 2023, leading to a rise in chronic disease cases. Medical applications of POM span across various industries, including aerospace, automotive production, and consumer goods & appliances. POM's desirable properties, such as high strength, thermal and dimensional stability, low friction coefficient, and non-toxic nature, make it a preferred choice for medical devices and equipment.

Key industries include the engineering plastics industry, electrical & electronics sector, and medical device manufacturers. Technological advances in medical equipment and modern medical technologies further boost market growth. Despite challenges like porosity problems and sterilization limitations, the market continues to expand due to environmental awareness and lifestyle changes. Medical devices that utilize POM include catheters, inhalers, implants, surgical instruments, insulin pens, and infusion pumps. The diabetes population, particularly those with Type 1 diabetes, significantly benefits from POM-based glucose monitoring devices and insulin delivery systems. In summary, the Medical POM market's growth is influenced by demographic shifts, technological advancements, and increasing health awareness.

Market Dynamics

Our medical polyoxymethylene (POM) market researchers analyzed the data with 2023 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.

What are the key market drivers leading to the rise In the adoption of the Medical Polyoxymethylene (POM) Industry?

Rising demand from drug contact and delivery applications is the key driver of the market.

• Medical Polyoxymethylene (POM), also known as Polyformaldehyde or Polyoxymethane, is a versatile copolymer extensively used in various industries, including the healthcare sector. In medical applications, POM's unique properties make it an essential material for manufacturing medical devices, especially those requiring frequent cleaning and sterilization. POM's resistance to chemical and biological agents, coupled with its high strength, rigidity, and low-frictional properties, make it an ideal material for insulin pens and inhalers. These devices, which deliver accurate and consistent doses of insulin or medication to patients, particularly benefit from POM's mechanical properties, ensuring they remain resistant to breakage and operate smoothly and easily.
• Furthermore, POM is also used In the production of surgical instruments due to its biocompatibility, hardness, and thermal and dimensional stability. Its non-toxic nature and enhanced retention make it suitable for applications such as bone cement, cranial implants, catheters, infusion pumps, intraocular lenses, and prosthetics. The medical devices industry's growth, driven by factors like the increasing chronic disease population, health awareness, urbanization, and lifestyle changes, is expected to fuel the demand for POM in medical applications. Additionally, technological advances in medical equipment and modern medical technologies are further expanding the scope of POM usage. However, challenges such as porosity problems, sterilization limitations, and capacity addition In the engineering plastics industry may pose potential obstacles to the growth of the POM market In the medical sector.

What are the market trends shaping the Medical Polyoxymethylene (POM) Industry?

Emerging applications in tissue engineering is the upcoming market trend.

• Medical Polyoxymethylene (POM), a homo polymer, is a versatile engineering plastic extensively used in various industries due to its superior mechanical properties, including high stiffness, low friction coefficient, and excellent thermal and dimensional stability. In the healthcare sector, POM has gained significant attention for its potential in medical applications, particularly in tissue engineering. POM's biocompatibility makes it an ideal material for creating scaffold structures, which provide a platform for tissue repair and regeneration. These scaffolds, also known as 3D structures, have gained prominence in recent decades due to their ability to integrate well with surrounding tissue. The healthcare industry's growing focus on modern medical technologies and environmental awareness has led to an increase in demand for non-toxic materials like POM.
• The geriatric population's expansion, urbanization, and the rise in chronic diseases, such as diabetes, have further fueled the demand for medical devices and equipment made from POM. Some of the medical applications of POM include bone cement, cranial implants, intraocular lenses, surgical instruments, and implant use. Additionally, POM is used in various medical devices, such as catheters, drug delivery systems, insulin pens, insulin pen trays, infusion pumps, and dry powder inhalers. In the aerospace and automotive industries, POM's high strength, dielectric strength, and gas/vapor permeability make it a preferred choice for engineering plastics. Furthermore, the electrical & electronics sector also utilizes POM due to its excellent electrical insulation properties.

What challenges does the Medical Polyoxymethylene (POM) Industry face during its growth?

Stringent regulations on polyoxymethylene is a key challenge affecting the industry growth.

• Medical Polyoxymethylene (POM), a homo polymer, holds significant importance in various industries, particularly In the healthcare sector. This copolymer offers desirable properties such as high strength, rigidity, thermal and dimensional stability, low friction coefficient, and excellent dielectric strength, making it an ideal choice for medical applications. In the healthcare sector, POM is extensively utilized In the aerospace industries for producing lightweight components, automotive production for manufacturing engine parts, and In the production of bone cement for orthopedic procedures. Furthermore, it is employed In the manufacturing of catheters, cranial implants, intraocular lenses, surgical instruments, and prosthetics. Moreover, POM is used In the production of medical devices such as insulin pens, insulin pen trays, insulin cartridges, insulin pens, infusion pumps, and drug delivery systems, including dry powder inhalers.
• The increasing diabetic population and the rising awareness of health and chronic diseases, particularly Type 1 diabetes, are driving the demand for these medical devices. Environmental awareness and urbanization have led to the expansion of the engineering plastics industry, including the POM market. However, challenges such as porosity problems and sterilization limitations persist, necessitating capacity addition and technological advances to address these issues. POM's non-toxic nature and enhanced retention make it an attractive alternative to metal replacement in medical applications. The electrical & electronics sector also utilizes POM for various applications due to its excellent electrical insulation properties.

Exclusive Customer Landscape

The medical polyoxymethylene (POM) market forecasting 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 medical polyoxymethylene (POM) market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

Customer Landscape

Key Companies & Market Insights

Companies are implementing various strategies, such as strategic alliances, medical polyoxymethylene (pom) market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence In the industry.

The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

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

Research Analyst Overview

Medical Polyoxymethylene (POM) is a versatile and high-performance copolymer, widely utilized in various industries due to its unique properties. This engineering plastic, also known as polyacetal or polyformaldehyde, offers several advantages that make it an essential component in numerous applications. The medical industry is one of the primary sectors that significantly benefits from the use of POM. Its biocompatibility, non-toxic nature, and excellent mechanical properties make it an ideal material for medical devices and equipment. POM's low friction coefficient, high dielectric strength, and thermal & dimensional stability contribute to its popularity in this field. Medical applications of POM span across various sectors.

Moreover, in the healthcare domain, it is used In the production of catheters, inhalers, insulin pens, insulin pen trays, and infusion pumps. The material's enhanced retention properties make it suitable for use in bone cement, cranial implants, and dental applications. Furthermore, POM is employed In the manufacturing of surgical instruments, prosthetics, and intraocular lenses. The medical devices industry's growth is driven by several factors, including an aging population, increased health awareness, and the rise in chronic diseases. The global diabetes population is on the rise, leading to a rise in demand for glucose monitoring devices and insulin delivery systems. POM's role In these devices is crucial, as its properties contribute to their accuracy, reliability, and user-friendliness.

Furthermore, the automotive and aerospace industries also leverage POM's unique properties for their applications. In the automotive sector, POM is used for manufacturing engine components due to its high strength, rigidity, and excellent resistance to wear and tear. In the aerospace industry, POM's low weight, high strength, and excellent thermal stability make it a preferred material for manufacturing components in aircraft and spacecraft. The electrical & electronics sector benefits from POM's excellent insulation properties, making it an essential material In the production of capacitors, transformers, and other electrical components. Additionally, POM is used In the production of dry powder inhalers due to its low gas/vapor permeability and high porosity.

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What are the Key Data Covered in this Medical Polyoxymethylene (POM) Market Research and Growth Report?

• CAGR of the Medical Polyoxymethylene (POM) industry during the forecast period
• Detailed information on factors that will drive the Medical Polyoxymethylene (POM) market growth and forecasting between 2024 and 2028
• Precise estimation of the size of the market and its contribution of the industry in focus to the parent market
• Accurate predictions about upcoming growth and trends and changes in consumer behaviour
• Growth of the market across APAC, North America, Europe, South America, and Middle East and Africa
• Thorough analysis of the market's competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the medical polyoxymethylene (POM) market growth of industry companies

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