Medical Polymer Market Growth Forecast to 2030

In 2021, the medical polymer market generated $17,842.5 million, and it is expected to reach $36,035.3 million in 2030, advancing at a rate of 8.1% from 2021 to 2030, ascribed to the market proliferation, and rise in the expenditure on healthcare. Moreover, North America captures the massive market share, accounting for 41.8%, led by the surge of healthcare facilities and advancements in medical technology. The rise in the U.S. population is also expected to increase the demand for hip and knee implants, dental base materials, and tooth implants further increasing the demand for medical-grade polymers.

Europe is the next-significant contributor to the medical polymer market, attributed to favorable reimbursement and growing political support for medical devices. In addition to this, the upgradation in the medical device directives is expected to enhance the medical products with technological advancements and increased safety. It is thus expected to result in a market boost, causing a significant rise in the demand for the project.