Medical Polyoxymethylene (POM) Market Size, Share, Report 2023-2032
The global medical polyoxymethylene (POM) market was estimated at USD 0.15 billion in 2022 and it is expected to surpass around USD 0.28 billion by 2032, poised to grow at a CAGR of 6.54% from 2023 to 2032. The medical polyoxymethylene (POM) market in the United States was accounted for USD 19.3 million in 2022.
Key Pointers
Report Scope of the Medical Polyoxymethylene (POM) Market
| Report Coverage | Details |
| Revenue Share of Asia Pacific in 2022 | 37% |
| Revenue Forecast by 2032 | USD 0.28 billion |
| Growth Rate from 2023 to 2032 | CAGR of 6.54% |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Market Analysis (Terms Used) | Value (US$ Million/Billion) or (Volume/Units) |
| Companies Covered | Dow; Celanese Corporation; DuPont; Polyplastics Co. Ltd.; Asahi Kasei Corporation; Jet-Hot, Inc.; Mitsubishi Engineering-Plastics Corporation; SABIC; Avient Corporation; CLARIANT; Korea Engineering Plastics Co. Ltd.; SPI Performance Coatings; China National Bluestar (Group) Co. Ltd; ICD High Performance Coatings; EverCoat Industries Sdn Bhd. |
The growing need for sustainable materials in the healthcare industry, spurred by increased environmental awareness is expected to create demand for medical POM over the forecast period. Owing to its superior mechanical qualities, biocompatibility, and resilience to chemicals and sterilization procedures, POM is widely employed in a variety of medical applications. The medical POM industry is predicted to expand significantly in the coming years as demand for medical devices and equipment rises. It is extensively used in the manufacture of medical devices such as surgical instruments, catheters, implants, and drug delivery systems.
Furthermore, the growing geriatric population and the rise in chronic diseases have led to increased demand for medical devices and equipment. Furthermore, technological advances, the expansion of the medical device sector, increasing urbanization, and economic growth are projected to boost the market throughout the forecast period.
The U.S. is one of the largest medical device producers across the region, and the market is expected to grow over the forecast period. This is attributed to the well-established healthcare infrastructure and the rising usage of modern medical technologies. Capacity addition and plant expansion by medical companies in the country are further expected to augment the demand for medical POM.
The expanding medical sector, on account of rising demand from drug contact and delivery applications, is also anticipated to fuel the growth of the market in the medical industry. Polyplastics Co., Ltd.; Westlake Plastics; and BASF SE are among the key domestic manufacturers operating in the medical industry in Canada.
Furthermore, the growth in demand for sustainable materials in the healthcare business is being boosted by the development of awareness about environmental issues. To lessen their environmental impact, medical device manufacturers are using recycled POM into their products. These factors are likely to propel the market in the country.
Application Insights
The insulin pen dominated the product segment in medical polyoxymethylene (POM) market. The surge in demand for insulin pens, as well as an increase in manufacturing, are predicted to fuel the expansion of the engineering plastics industry, including POM. An insulin pen is used to inject insulin into diabetic individuals (most of whom have type 1 diabetes). Furthermore, the use of insulin pens is rising rapidly due to their ease of use and low cost.
Additionally, the use of insulin pens is increasing as the incidence of diabetes people increases. Due to their qualities to endure continuous use and other handling procedures, medical POM is often used in the manufacture of insulin pens. Furthermore, the ability of medical POM to retain its shape despite exposure to varying temperatures and pressures assures optimal pen operation and the prevention of damage or leakage to the insulin cartridge, resulting in the use of insulin pens.
Furthermore, the integration of properties possessed by such thermoplastics makes them beneficial for usage in a wide range of applications, including dry powder inhalers and metered dose inhalers (MDIs). The market for medicinal polyoxymethylene (POM) is predicted to expand as demand for inhalers rises.
Type Insights
The copolymer segment dominated the market with more than 64% share of the global revenue in 2022. Due to their constructive and mechanical capabilities, make them a suitable material to replace metal in the construction of a variety of medical devices. The copolymers possess several processing properties, as well as qualities such as thermal & dimensional stability, hardness, strength, ultra-high modulus, rigidity, dielectric strength, low friction coefficient & gas/vapor permeability, and enhanced retention. These are expected to create demand for copolymer POM in the medical industry.
Homo-polymer POM possesses characteristics including high strength, durability, hardness, great impact & wear resistance making it suitable for medical applications. However, its combustion gases are very toxic, making it harmful to the environment, and thus, restraining the usage of homo-polymer POM.
In addition, several ongoing R&D activities to expand the medical application scope in the production of medical devices such as insulin pen, trays, inhalers, surgical instruments, and others is expected to boost the medical POM industry. Efficient production and utilization of raw materials, easy customization of complex medical devices, and low weight are likely to augment the demand for polyoxymethylene in the global medical industry over the forecast period.
Regional Insights
Asia Pacific dominated the global market and accounted for over 37% share of the global revenue in 2022. The expansion of the medical sector in developing nations such as China, Japan, South Korea, and India provides the lucrative potential for the growth of the Asia Pacific medical POM industry.
The presence of a strong industrial foundation, as well as the presence of key manufacturers, is primarily accountable for the growth of the medical POM market in this region. Furthermore, increased urbanization, as well as increased incidences of chronic diseases are boosting market expansion in the region. Another element boosting the industry in the region is the simple accessibility and availability of raw materials, combined with inexpensive labor and low production costs.
Moreover, growth in medical device production, high standard of living, and growing aging population are significantly contributing toward growth for POM in the medical industry across North America. Well-developed infrastructure along with the presence of renowned medical device manufacturers propelling the development of the medical industry in this region, which in turn is creating application scope for the market in this region.
Medical Polyoxymethylene (POM) Market Segmentations:
By Type
By Application
By Regional
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Medical Polyoxymethylene (POM) Market
5.1. COVID-19 Landscape: Medical Polyoxymethylene (POM) Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Medical Polyoxymethylene (POM) Market, By Type
8.1. Medical Polyoxymethylene (POM) Market, by Type, 2023-2032
8.1.1. Homopolymer POM
8.1.1.1. Market Revenue and Forecast (2020-2032)
8.1.2. Copolymer POM
8.1.2.1. Market Revenue and Forecast (2020-2032)
Chapter 9. Global Medical Polyoxymethylene (POM) Market, By Application
9.1. Medical Polyoxymethylene (POM) Market, by Application, 2023-2032
9.1.1. Dialysis Machine
9.1.1.1. Market Revenue and Forecast (2020-2032)
9.1.2. Handles for Surgical Instruments
9.1.2.1. Market Revenue and Forecast (2020-2032)
9.1.3. Inhalers
9.1.3.1. Market Revenue and Forecast (2020-2032)
9.1.4. Insulin Pen
9.1.4.1. Market Revenue and Forecast (2020-2032)
9.1.5. Medical Trays
9.1.5.1. Market Revenue and Forecast (2020-2032)
9.1.6. Pharmaceutical Closures
9.1.6.1. Market Revenue and Forecast (2020-2032)
9.1.7. Others
9.1.7.1. Market Revenue and Forecast (2020-2032)
Chapter 10. Global Medical Polyoxymethylene (POM) Market, Regional Estimates and Trend Forecast
10.1. North America
10.1.1. Market Revenue and Forecast, by Type (2020-2032)
10.1.2. Market Revenue and Forecast, by Application (2020-2032)
10.1.3. U.S.
10.1.3.1. Market Revenue and Forecast, by Type (2020-2032)
10.1.3.2. Market Revenue and Forecast, by Application (2020-2032)
10.1.4. Rest of North America
10.1.4.1. Market Revenue and Forecast, by Type (2020-2032)
10.1.4.2. Market Revenue and Forecast, by Application (2020-2032)
10.2. Europe
10.2.1. Market Revenue and Forecast, by Type (2020-2032)
10.2.2. Market Revenue and Forecast, by Application (2020-2032)
10.2.3. UK
10.2.3.1. Market Revenue and Forecast, by Type (2020-2032)
10.2.3.2. Market Revenue and Forecast, by Application (2020-2032)
10.2.4. Germany
10.2.4.1. Market Revenue and Forecast, by Type (2020-2032)
10.2.4.2. Market Revenue and Forecast, by Application (2020-2032)
10.2.5. France
10.2.5.1. Market Revenue and Forecast, by Type (2020-2032)
10.2.5.2. Market Revenue and Forecast, by Application (2020-2032)
10.2.6. Rest of Europe
10.2.6.1. Market Revenue and Forecast, by Type (2020-2032)
10.2.6.2. Market Revenue and Forecast, by Application (2020-2032)
10.3. APAC
10.3.1. Market Revenue and Forecast, by Type (2020-2032)
10.3.2. Market Revenue and Forecast, by Application (2020-2032)
10.3.3. India
10.3.3.1. Market Revenue and Forecast, by Type (2020-2032)
10.3.3.2. Market Revenue and Forecast, by Application (2020-2032)
10.3.4. China
10.3.4.1. Market Revenue and Forecast, by Type (2020-2032)
10.3.4.2. Market Revenue and Forecast, by Application (2020-2032)
10.3.5. Japan
10.3.5.1. Market Revenue and Forecast, by Type (2020-2032)
10.3.5.2. Market Revenue and Forecast, by Application (2020-2032)
10.3.6. Rest of APAC
10.3.6.1. Market Revenue and Forecast, by Type (2020-2032)
10.3.6.2. Market Revenue and Forecast, by Application (2020-2032)
10.4. MEA
10.4.1. Market Revenue and Forecast, by Type (2020-2032)
10.4.2. Market Revenue and Forecast, by Application (2020-2032)
10.4.3. GCC
10.4.3.1. Market Revenue and Forecast, by Type (2020-2032)
10.4.3.2. Market Revenue and Forecast, by Application (2020-2032)
10.4.4. North Africa
10.4.4.1. Market Revenue and Forecast, by Type (2020-2032)
10.4.4.2. Market Revenue and Forecast, by Application (2020-2032)
10.4.5. South Africa
10.4.5.1. Market Revenue and Forecast, by Type (2020-2032)
10.4.5.2. Market Revenue and Forecast, by Application (2020-2032)
10.4.6. Rest of MEA
10.4.6.1. Market Revenue and Forecast, by Type (2020-2032)
10.4.6.2. Market Revenue and Forecast, by Application (2020-2032)
10.5. Latin America
10.5.1. Market Revenue and Forecast, by Type (2020-2032)
10.5.2. Market Revenue and Forecast, by Application (2020-2032)
10.5.3. Brazil
10.5.3.1. Market Revenue and Forecast, by Type (2020-2032)
10.5.3.2. Market Revenue and Forecast, by Application (2020-2032)
10.5.4. Rest of LATAM
10.5.4.1. Market Revenue and Forecast, by Type (2020-2032)
10.5.4.2. Market Revenue and Forecast, by Application (2020-2032)
Chapter 11. Company Profiles
11.1. Dow
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. Celanese Corporation
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. DuPont
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. Polyplastics Co. Ltd.
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. LTE Scientific
11.5. Asahi Kasei Corporation
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. Jet-Hot, Inc.
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. Mitsubishi Engineering-Plastics Corporation
11.7.1. Company Overview
11.7.2. Product Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
11.8. SABIC
11.8.1. Company Overview
11.8.2. Product Offerings
11.8.3. Financial Performance
11.8.4. Recent Initiatives
11.9. Avient Corporation
11.9.1. Company Overview
11.9.2. Product Offerings
11.9.3. Financial Performance
11.9.4. Recent Initiatives
11.10. CLARIANT
11.10.1. Company Overview
11.10.2. Product Offerings
11.10.3. Financial Performance
11.10.4. Recent Initiatives
Chapter 12. Research Methodology
12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions
Chapter 13. Appendix
13.1. About Us
13.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers