The global medical polyoxymethylene (POM) market size was US$ 199.8 million in 2022 and is anticipated to reach a valuation of US$ 269.2 million by 2031, growing at a compound annual growth rate (CAGR) of 3.37% during the forecast period from 2023 to 2031.
Polyoxymethylene is an engineering plastic used in medical and healthcare applications that is resistant to several cleaning and sanitizing agents and a variety of solvents. High-performance designed polyoxymethylene (POM) is typically generated via ring-opening formaldehyde polymerization and is mostly offered in the form of pellets. Formaldehyde is polymerized to create POM resins, which may then be used to create copolymers and homopolymers by combining them with other monomers. They are well-known for having a variety of mechanical and constructive qualities, making them a good substitute for metal in the manufacture of several medical equipment.
Market Driving Factors
The healthcare sector's growing requirement for sustainable materials owing to the growing environmental awareness drives the global market. POM is widely used in various medical applications due to its high mechanical properties, biocompatibility, and resistance to chemicals and sterilization processes.
The market is likely to increase owing to the expanding medical sector and rising demand for medication contact and delivery applications. One of the most important domestic producers working in the medical sector in Canada is Polyplastics Co., Ltd., along with Westlake Plastics and BASF SE.
The rise in the aging population and increasing chronic disease drive the demand for cutting-edge medical technology. Thus, the medical polyoxymethylene market is anticipated to expand. Additionally, the growing emphasis on medical devices with enhanced mechanical and physical features will fuel market expansion.
Concerns like implant use issues, sterilizing restrictions, and porosity problems may impede market growth. Additionally, this material is liable to fracture and break. This substance is also exceedingly expensive and challenging to create. The material is not suitable for a variety of uses, and it cannot be used as a substitute for metal in many cases.
Segmentation Overview
By Type Insights
In 2022, the copolymer market category held a major share of the global market. They can be used in place of metal in the production of many different medical devices due to their constructive and mechanical properties. The copolymers have numerous processing characteristics, including hardness, strength, stiffness, ultra-high modulus, dielectric strength, low friction coefficient, gas/vapor permeability, and improved retention. These are anticipated to increase demand in the medical sector for copolymer POM.
By Medical Application Insights
The insulin pen segment dominated the global market. A rise in manufacturing and increasing demand for insulin pens will stimulate the growth of the engineering plastics sector, which includes POM. Insulin is injected into diabetics (the majority of whom have type 1 diabetes) using an insulin pen. Additionally, due to their affordability and simplicity of use, the usage of insulin pens is quickly expanding. The insulin pen market in Europe and Japan is expanding at a moderate rate. This is due to the increase in the number of diabetic patients and older people in this region.
Regional Overview
In 2022, Asia Pacific led the global market and generated the highest revenue share. The development of the medical POM industry in the Asia Pacific region has profitable potential due to the increase of the medical sector in developing countries, including China, Japan, South Korea, and India.
The expansion of the medical POM market in this region is mostly attributable to the existence of prominent manufacturers and a solid industrial base. Additionally, the region's market is expanding owing to rising urbanization and chronic disease occurrences. The easy accessibility and availability of raw materials, along with affordable labor and cheap production costs, is another factor driving the industry in the area.
Prominent Companies
Segmentation Outline
The global medical polyoxymethylene (POM) market segmentation focuses on Type, Medical Application, and Region.
By Type
By Medical Application
By Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL MEDICAL POLYOXYMETHYLENE (POM) MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY: MEDICAL POLYOXYMETHYLENE (POM) MARKET
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
3.5 ANALYST TOOLS AND MODELS
4 GLOBAL MEDICAL POLYOXYMETHYLENE (POM) MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS AND TRENDS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE ANALYSIS
4.4 VALUE CHAIN ANALYSIS
4.5 MARKET GROWTH AND OUTLOOK
4.5.1 PRICE TREND ANALYSIS
4.5.2 OPPORTUNITY SHARE
5 GLOBAL MEDICAL POLYOXYMETHYLENE (POM) MARKET, BY TYPE
5.1 OVERVIEW
5.2 HOMOPOLYMER POM
5.3 COPOLYMER POM
6 GLOBAL MEDICAL POLYOXYMETHYLENE (POM) MARKET, BY MEDICAL APPLICATION
6.1 OVERVIEW
6.2 DIALYSIS MACHINE
6.3 HANDLES FOR SURGICAL INSTRUMENTS
6.4 INHALERS
6.5 INSULIN PEN
6.6 MEDICAL TRAYS
6.7 PHARMACEUTICAL CLOSURES
6.8 OTHER MEDICAL APPLICATIONS
7 GLOBAL MEDICAL POLYOXYMETHYLENE (POM) MARKET, BY GEOGRAPHY
7.1 OVERVIEW
7.2 NORTH AMERICA
7.2.1 NORTH AMERICA MARKET SNAPSHOT
7.2.2 U.S.
7.2.3 CANADA
7.2.4 MEXICO
7.3 EUROPE
7.3.1 EUROPE MARKET SNAPSHOT
7.3.2 WESTERN EUROPE
7.3.2.1 THE UK
7.3.2.2 GERMANY
7.3.2.3 FRANCE
7.3.2.4 ITALY
7.3.2.5 SPAIN
7.3.2.6 REST OF WESTERN EUROPE
7.3.3 EASTERN EUROPE
7.3.3.1 POLAND
7.3.3.2 RUSSIA
7.3.3.3 REST OF EASTERN EUROPE
7.4 ASIA PACIFIC
7.4.1 ASIA PACIFIC MARKET SNAPSHOT
7.4.2 CHINA
7.4.3 JAPAN
7.4.4 INDIA
7.4.5 AUSTRALIA & NEW ZEALAND
7.4.6 ASEAN
7.4.7 REST OF ASIA PACIFIC
7.5 MIDDLE EAST & AFRICA
7.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
7.5.2 UAE
7.5.3 SAUDI ARABIA
7.5.4 SOUTH AFRICA
7.5.5 REST OF MEA
7.6 SOUTH AMERICA
7.6.1 SOUTH AMERICA MARKET SNAPSHOT
7.6.2 BRAZIL
7.6.3 ARGENTINA
7.6.4 REST OF SOUTH AMERICA
8 GLOBAL MEDICAL POLYOXYMETHYLENE (POM) MARKET COMPETITIVE LANDSCAPE
8.1 OVERVIEW
8.2 COMPANY MARKET RANKING
8.3 KEY DEVELOPMENT STRATEGIES
8.4 COMPETITIVE DASHBOARD
8.5 PRODUCT MAPPING
8.6 TOP PLAYER POSITIONING, 2022
8.7 COMPETITIVE HEATMAP
8.8 TOP WINNING STRATEGIES
9 COMPANY PROFILES
9.1 BASF SE
9.1.1 OVERVIEW
9.1.2 FINANCIAL PERFORMANCE
9.1.3 PRODUCT OUTLOOK
9.1.4 KEY DEVELOPMENTS
9.1.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.2 CELANESE CORPORATION
9.2.1 OVERVIEW
9.2.2 FINANCIAL PERFORMANCE
9.2.3 PRODUCT OUTLOOK
9.2.4 KEY DEVELOPMENTS
9.2.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.3 DAICEL CORPORATION (POLYPLASTICS CO. LTD)
9.3.1 OVERVIEW
9.3.2 FINANCIAL PERFORMANCE
9.3.3 PRODUCT OUTLOOK
9.3.4 KEY DEVELOPMENTS
9.3.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.4 DUPONT DE NEMOURS INC.
9.4.1 OVERVIEW
9.4.2 FINANCIAL PERFORMANCE
9.4.3 PRODUCT OUTLOOK
9.4.4 KEY DEVELOPMENTS
9.4.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.5 ENSINGER
9.5.1 OVERVIEW
9.5.2 FINANCIAL PERFORMANCE
9.5.3 PRODUCT OUTLOOK
9.5.4 KEY DEVELOPMENTS
9.5.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.6 KOREA ENGINEERING PLASTICS CO. LTD
9.6.1 OVERVIEW
9.6.2 FINANCIAL PERFORMANCE
9.6.3 PRODUCT OUTLOOK
9.6.4 KEY DEVELOPMENTS
9.6.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.7 MITSUBISHI CHEMICAL CORPORATION
9.7.1 OVERVIEW
9.7.2 FINANCIAL PERFORMANCE
9.7.3 PRODUCT OUTLOOK
9.7.4 KEY DEVELOPMENTS
9.7.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.8 WESTLAKE PLASTICS COMPANY
9.8.1 OVERVIEW
9.8.2 FINANCIAL PERFORMANCE
9.8.3 PRODUCT OUTLOOK
9.8.4 KEY DEVELOPMENTS
9.8.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.9 YUNTIANHUA GROUP CO. LTD
9.9.1 OVERVIEW
9.9.2 FINANCIAL PERFORMANCE
9.9.3 PRODUCT OUTLOOK
9.9.4 KEY DEVELOPMENTS
9.9.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
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