Published Date : Jul 10, 2017
ALBANY, New York, July 10, 2017: The global fluoropolymer market in the healthcare industry is anticipated to grow at a CAGR of 7.19% during the period from 2016-2020, states a new report published by MarketResearchReports.biz. The report is titled “Global Fluoropolymer Market in Healthcare Industry 2016-2020.” The demand for fluoropolymers is increasing in the healthcare market on account of their superior characteristics including smoother surface, weldability, less amount of creep, improved penetration resistance, less porous surface, and better high voltage insulation. Fluoropolymers are being increasingly adopted by the healthcare sector as plastics are unable to meet the stringent biocompatibility and physical necessities of advanced medical devices and drugs. Fluoropolymers are used as substitute bones for nose, skull, ear, hip and knee parts as they have properties such as inertness, low coefficient of friction, and high resistance to heat and chemical.
According to the report, the improved recyclability has brought with it, environmental friendliness of fluoropolymers and this is anticipated to have improved the popularity of fluoropolymers in the healthcare sector. By geography, the market is led by Asia Pacific. The region will witness a high growth in the market on account of the abundant presence of raw materials which are required for the manufacturing of fluoropolymers. Countries such as India, Japan, South Korea, and China are key revenue generators for the Asia Pacific fluoropolymer market. The developed pharmaceutical and healthcare industry in Japan is also an important factor boosting the demand for fluoropolymers in the healthcare industry.
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The global fluoropolymer market is consolidated with a very limited number of players. However, this has created intense competition among those few players. Players in the market are focused on research and development activities so as to achieve product improvements and expanding product portfolio. Players are competing with each other on the basis of price. New entrants face several obstacles while entering in the market. On the basis of product, the market is expected to be led by the PTFE segment as it has several applications in the healthcare sector such as medical devices, packaging, and biological membranes.
By application, the global fluoropolymer market is segmented into medical devices, pharmaceutical packaging, and drug delivery. There is a high demand for suitable packaging materials which offer product safety, protection from contamination, and high shelf life for drugs. On account of the moisture barrier properties of fluoropolymers, they are used in the packaging of pills, powders, and other sensitive pharmaceuticals and thus help in the extending of shelf life of these dry formulations. Some of the fluoropolymers used for packaging are FEP, PFA, and PCTFE.
The report profiles key players operating in the global fluoropolymer market such as Asahi Glass, Daikin Industries, Solvay, Chemours, Honeywell, and 3M
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