Medical Polyoxymethylene (POM) Market by Type, Application, and Geography - Forecast and Analysis 2023-2027

Medical Polyoxymethylene (POM) Market Size 2023-2027

The Global Medical Polyoxymethylene (POM) Market size is estimated to grow by USD 2.71 billion at a CAGR of 5.4% between 2022 and 2027. The market's expansion hinges on several factors, including increased demand for drug contact and delivery applications, the rise in minimally invasive surgical procedures, and growing awareness of high-performance polymers' benefits in healthcare. These trends underscore a shift towards more effective and less invasive medical solutions, driving the adoption of advanced materials in healthcare settings. The demand for high-performance polymers is particularly notable, as they offer superior properties suitable for medical applications. This growing market reflects an industry-wide emphasis on improving patient outcomes and operational efficiencies. As such, the market's trajectory is influenced by a confluence of factors driving innovation and adoption of cutting-edge medical technologies.

What will be the Size of the Market During the Forecast Period?

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Market Segmentation

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).

By Type 

The homopolymer POM segment will account for a significant share of market growth during the forecast period. The market is significantly driven by the healthcare sector, particularly in the production of these devices and equipment. Homopolymer POM, a type of engineering plastic, is preferred due to its high strength, rigidity, and chemical resistance. Its ability to withstand repeated sterilization makes it suitable for applications such as stethoscopes, sphygmomanometers, otoscopes, ophthalmoscopes, pulse oximeters, fetal dopplers, and catheters.

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The homopolymer POM segment was valued at USD 4.24 billion in 2017. The market also extends to aerospace industries, automotive production, consumer goods & appliances, and the electrical & electronics sector. Homopolymer POM is used in bone cement, cranial implants, insulin pens, insulin cartridges, and intraocular lenses. Capacity addition is observed in response to the growing diabetic population and the chronic disease trend. The market is also influenced by environmental awareness, enhanced retention, and gas/vapor permeability. Applications include drug delivery systems, dry powder inhalers, and infusion pumps. The market growth is further driven by the geriatric population, health awareness, and lifestyle changes. The engineering plastics industry utilizes extrusion methods to produce homopolymer POM, which exhibits excellent dimensional stability and high dielectric strength. Such factors are expected to increase the demand for homopolymer POM, which, in turn, will fuel the growth of the Market during the forecast period.

By Application 

Based on application segment, the market is classified into dialysis machine, handles for surgical instruments, inhalers, and others

By Region

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 market during the forecast period. The market in APAC is projected to expand due to its low friction coefficient and suitability for applications. Key contributors to this growth include China, India, Australia, Indonesia, and Thailand. The pharmaceutical sector's expansion in China and India further boosts demand. The increasing geriatric population in Japan and China, with a 7.9% rise in China in 2021, fuels the need for patient care services and devices. POM, a non-toxic porous polymer, is used in medical equipment, surgical instruments, and prosthetics as a metal replacement.

Technological advances in modern technologies, such as tissue engineering and type 1 diabetes treatment, increase the demand for POM's ultra-high modulus and thermal & dimensional stability. These device manufacturers face sterilization limitations and rigidity concerns, but POM's strength and urbanization trends offset these challenges. Thermoplastics like POM play a crucial role in equipment and surgical instruments, with ongoing technological advances and type-specific applications. Therefore, the demand for medical polyoxymethylene has increased. Initiatives for improving healthcare facilities across APAC are also likely to fuel market growth. 

Market Dynamic

The market holds significant importance in the healthcare industry due to its extensive applications in medical devices and consumer goods. Insulin pens, a crucial diabetes management tool for diabetic patients with Type 1 diabetes, are major consumers of POM. This engineering plastic's biocompatibility and non-toxic properties make it suitable for infusion pumps and glucose monitoring devices. Moreover, the aging population and the increasing prevalence of chronic diseases, including diabetes, fuel the demand for medical devices and implants, such as catheters and implants, which utilize POM. The electrical & electronics sector also leverages POM in the manufacturing of equipment, drug delivery systems, and surgical instruments. Environmental awareness and the need for eco-friendly materials have further boosted the adoption of POM in the medical industry. As a result, these device manufacturers continue to invest in research and development to expand the applications of POM in various devices and consumer goods. 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.

Key Market Driver

The rising demand from drug contact and delivery applications is notably driving the market growth. The market encompasses various industries, including healthcare, aerospace, automotive production, and consumer goods & appliances. In healthcare, POM is extensively used due to its resistance to chemical and biological agents. Its applications range from insulin pens and inhalers for diabetes management to catheters, infusion pumps, and surgical instruments. The engineering plastics industry utilizes POM for its high strength, stiffness, and low-frictional properties, making it suitable for producing insulin cartridges, insulin pens, and insulin pen trays.

Additionally, POM is used in bone cement, implants, intraocular lenses, and cranial implants. The capacity addition in the engineering plastics industry is driven by the increasing chronic disease population, particularly the geriatric population, and the growing health awareness. The electrical & electronics sector also utilizes POM due to its dielectric strength and gas/vapor permeability. The market for POM is expected to grow significantly due to the increasing diabetes population, lifestyle changes, and environmental awareness. Extrusion methods are commonly used in the production of POM products. Such factors are expected to propel the growth of the market during the forecast period.

Significant Market Trends

The emerging applications in tissue engineering are a key trend shaping the market.  The application of polyoxymethylene (POM) has gained significant traction in various industries due to its superior mechanical properties and biocompatibility. In the healthcare sector, POM is increasingly used in scaffold materials for tissue engineering. This material offers benefits such as high biocompatibility, hardness, and gas/vapor permeability. POM finds applications in several medical devices, including catheters, inhalers, implants, and insulin delivery systems.

The automotive and aerospace industries, consumer goods and appliances, and the electrical & electronics sector also utilize POM due to its excellent mechanical properties and environmental awareness. In the healthcare domain, POM is used in bone cement, cranial implants, and intraocular lenses. The growing population of chronic disease patients, particularly those with diabetes, fuels the demand for POM-based medical devices. Capacity addition through extrusion methods and the development of copolymers further enhance the potential uses of POM in the medical field. Lifestyle changes and health awareness also contribute to the increasing demand for POM in various medical applications. These factors are expected to fuel the growth of the market during the forecast period.

Major Market Challenge

Stringent regulations on polyoxymethylene are challenging the market growth. The market faces a significant challenge due to stringent regulations governing its use, particularly in healthcare. While POM is versatile and used in various sectors, including aerospace, automotive, consumer goods, and electronics, its application in medical components such as catheters, connectors, and implants is particularly sensitive.

Regulations are strict due to potential adverse reactions, especially in patients with chronic diseases like diabetes or in the geriatric population. These reactions, ranging from mild skin irritation to severe anaphylaxis, necessitate careful compliance and monitoring in the production and use of POM in medical devices. Such factors are expected to hinder the adoption of polyoxymethylene, which will negatively impact the growth of the market during the forecast period.

Key Market Customer Landscape

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 Market Customer Landscape

Key Market Companies

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.

Segment Overview

The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2023 to 2027, as well as historical data from 2017 to 2021 for the following segments. 

• Type Outlook 
  • Homopolymer POM
  • Copolymer POM
• Application Outlook 
  • Dialysis machine
  • Handles for surgical instruments
  • Inhalers
  • Others
• Region Outlook 
  • North America
    • The U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa
  • South America
    • Argentina
    • Brazil
    • Chile

Market Analyst Overview

The market is a significant sector in the healthcare industry, utilizing Polyoxymethylene (POM) for various medical applications. POM is a thermoplastic polyester resin, known for its excellent chemical resistance, biocompatibility, and good processability. In the medical field, POM is extensively used in manufacturing medical devices such as catheters, Infusion pump, syringes, Injection, Non toxic material, and implants. Its biocompatibility makes it an ideal material for long-term implantation, ensuring patient safety and comfort. Moreover, its chemical resistance property protects the devices from degradation, ensuring their durability and longevity. The demand is increasing due to the growing aging population, rising prevalence of chronic diseases, and the increasing adoption of minimally invasive surgical procedures. 

 

Additionally, the advancements in medical technology and the development of new medical devices are expected to further fuel the growth of the Medical POM market. The market for Medical POM is expected to grow at a steady pace due to the increasing demand for medical devices and implants. The market is driven by factors such as the rising prevalence of chronic diseases, Diabetic patient, the increasing aging population, and the growing adoption of minimally invasive surgical procedures. Furthermore, the development of new medical devices and the advancements in medical technology are expected to provide significant opportunities for the growth of the Medical POM market.

Market Scope
Report Coverage	Details
Page number	165
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 5.4%
Market growth 2023-2027	USD 2.71 billion
Market structure	Fragmented
YoY growth 2022-2023(%)	4.91
Regional analysis	APAC, North America, Europe, South America, and Middle East and Africa
Performing market contribution	APAC at 41%
Key countries	US, China, India, Germany, and UK
Competitive landscape	Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks
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.
Market dynamics	Parent market analysis, Market Forecasting, 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 the market forecast period
Customization purview	If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting of the market between 2023 and 2027
• Precise estimation of the size of the market size and its contribution to the parent market
• Accurate predictions about upcoming market trends and analysis and changes in consumer behavior
• Growth of the market industry across Europe, North America, APAC, South America, and Middle East and Africa
• Thorough market growth analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive market analysis and report on the factors that will challenge the market research and growth of market companies

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