According to the latest market research study released by Technavio, the global fluoropolymer market in the healthcare industry is expected to grow at a CAGR of more than 7% during the forecast period 2016-2020.
This market research report by Technavio provides an in-depth analysis of the market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
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Technavio research analysts categorize the global fluoropolymer market in the healthcare industry based on application:
Global fluoropolymer market in the healthcare industry share by application 2015
|
Pharmaceutical Packaging |
38.23% |
|
Medical Devices |
33.64% |
|
Drug Delivery |
17.29% |
|
Others |
10.84% |
Source: Technavio
The top three revenue contributing product segments are discussed below:
Global fluoropolymer market in healthcare industry for pharmaceutical packaging
The global fluoropolymer market in the healthcare industry for pharmaceutical packaging was valued at around USD293 million in 2015 and is estimated to grow at a CAGR of over 7% by 2020. The increasing advancements and developments in the biochemistry has resulted in substantial product innovation which, in turn, will lead to the growth of this market segment. The high requirement for suitable packaging materials is likely to boost the demand for fluoropolymer substances in the pharmaceutical market during the forecast period. These packaging materials should satisfy criteria such as contamination inhibition, product safety, and high shelf life for pharmaceuticals.
“The extensive use of fluoropolymers in the packaging of pharmaceutical products such as medical liquids, tablets, pills, and sprays, will help in the development of the market segment. These materials provide improved moisture barrier properties which are best suited for blister packaging of sensitive items such as pills and powders. These materials help in extending the shelf life of the dry formulations and avoid cross-contamination of materials,” says Swapnil T S, a lead analyst at Technavio for research on plastics, polymers, and elastomers.
Global fluoropolymer market in healthcare industry for medical devices
The global fluoropolymer market in the healthcare industry for medical devices was valued at over USD32 million in 2015 and is estimated to grow at a CAGR of more than 6% by 2020. The replacement of plastic materials for manufacturing of medical devices will lead to the growth of this market segment. Fluoropolymers materials meet the necessary physical and biocompatibility requirements for the next generation medical devices. These materials are used for manufacturing medical devices such as catheters, syringes, sutures, and bio-containment vessels. These substances have chemical and heat resistance, lubricity, and finishing surface properties that are highly suitable for multi-lumen tubing and other devices used in minimally invasive procedures.
Global fluoropolymer market in healthcare industry for drug delivery
The global fluoropolymer market in the healthcare industry for drug delivery was valued at close to USD133 million in 2015 and is estimated to grow at a CAGR of almost 8% by 2020. The low surface energy of fluoropolymer products helps in preventing biofilm formation and thus improves dose consistency resulting in the growth of this market segment. The materials have properties like efficient moisture control and chemical resistance extending the product shelf life and preventing the interaction of drugs with external agents.
The top leading vendors operating in the global fluoropolymer market in the healthcare industry are:
- Asahi Glass
- Solvay
- Honeywell
- Daikin Industries
- Chemours
- 3M
Other prominent vendors in the market include Arkema, Chicago Gasket, Dongyue Group, Flontech USA, Mexichem, NORELL, Saint-Gobain Performance Plastics, W. L. Gore & Associates, and Zeus Industrial Products.
A more detailed analysis is available in the Technavio report titled, ‘Global Fluoropolymer Market in the Healthcare Industry 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Fluorochemicals Market 2016-2020
- Global Fluoropolymer Market 2016-2020
- Global Smart Polymers Market 2016-2020
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