Medical Fluoropolymers Market Size, Share & Trends Analysis Report By Product (Ethylene Tetrafluoroethylene, Polytetrafluoroethylene, Polyvinylidene Fluoride, Fluoroelastomers), By Application, By Region, And Segment Forecasts, 2022 - 2030

Report Overview

The global medical fluoropolymers market size was estimated at USD 435.5 million in 2021 and is estimated to expand at a compound annual growth rate (CAGR) of 9.2% from 2022 to 2030. The market is expected to expand rapidly, owing to the rising use of fluoropolymers in implants due to their chemical inertness and higher fatigue resistance. The global fluoropolymers industry is one of the most heavily regulated in the world. It is driven by increasing fluoropolymers consumption in construction, automotive, medical devices, and electrical & electronics applications.

Medical fluoropolymers have played a crucial part in the healthcare revolution. With advancements in healthcare technology, medical fluoropolymers have shown to be one of the few flexible materials capable of meeting the industry's shifting demands. Disposable plastic syringes, blood bags, replacement heart valves, and other medical equipment are among the uses for medical fluoropolymers. Another area of healthcare that has evolved greatly as a consequence of the effect of medical fluoropolymers throughout the years is medical tubing. Using fluoropolymer tubes and catheters, doctors may provide more features and usefulness in their healthcare solutions.

Surgical gloves, syringes, insulin pens, IV tubes, catheters, inflatable splints, and other medical tools and devices have all been made with medical fluoropolymers. By eliminating the need to sterilize and re-use, such solutions assist in reducing the spread of harmful diseases. It is also used to develop antimicrobial touch surfaces that kill bacteria and other germs and decreases the spread of diseases. Antimicrobial plastic, in particular, is known for its great efficacy in killing bacteria and its ability to remove pathogens even when surfaces are not cleaned regularly.

Furthermore, medical fluoropolymers may be shaped to meet the needs of a given application; they are also employed to produce novel medical equipment. Because of its capacity to conform to the smallest and most delicate molds, medical polymers are now being utilized in surgical equipment and procedures, as well as items such as new pacemakers, stents, or joint replacement devices, which can assist medical fluoropolymers growth in the market.

The rising economy in the health care sector has always been one of the driving factors for the production of their products. Medical fluoropolymers are gaining importance in the manufacturing of medical devices and medical products on account of their durability, temperature resistance, corrosion resistance, and ability to withstand wear & tear. Increasing demand for fluoropolymers in medical applications, such as syringes, inhalation masks, catheters, and other surgical tools, is expected to further drive the market over the forecast period.

Product Insights

The Polytetrafluoroethylene (PTFE) segment dominated the market and accounted for the largest revenue share of 64.9% in 2021. Application growth in numerous industries such as medical tubing, catheters, medical bags, and drug delivery devices is expected to augment PTFE demand shortly. The global medical fluoropolymer market serves various product types including ethylene tetrafluoroethylene (ETFE), polytetrafluoroethylene (PTFE), polyvinylidene fluoride (PVDF), fluoroelastomers, and others.

Polyvinylidene fluoride (PVDF) fluoropolymer was the second largest product segment of the market by value and volume in 2021. This medical fluoropolymer is gaining popularity due to its increasing demand for medical tubing due to properties such as biocompatibility and lubricity. PVDF has applications in industrial processes and scientific research owing to its membrane forming properties, high thermal stability, and good chemical resistance. Other applications of PVDF include pollutant removal, water treatment, gas separation, and bioethanol recovery. PVDF has application in the fishing industry for manufacturing monofilament fishing lines as an alternative to nylon monofilament due to the good hardness properties offered by the former.

Application Insights

The medical tubing segment dominated the market and accounted for the largest revenue share of 37.1% in 2021. This growth is on account of the high demand for medical device components, trays, medical containers, and monitoring devices. It is widely used in anesthesiology, respiratory equipment, peristaltic pumps, biopsy, check pump functions, and diagnosing congenital heart defects to allow clinicians to administer fluid and devices or allow for gas flow. The industry serves various applications including medical tubing, catheters, medical bags, drug delivery devices, and others.

The demand for medical fluoropolymers in catheters is dominated by polytetrafluoroethylene (PTFE) owing to its superior properties such as flexibility, clarity, firmness, and pliability. In addition, the enhanced mechanical and thermal properties offered by PTFE as compared to traditional materials such as rubber are expected to open up new avenues for market growth.

Regional Insights

North America dominated the medical fluoropolymers market and accounted for more than 41.0% share of the global revenue in 2021. The market is projected to witness significant growth in the coming years owing to the increased demand for medical fluoropolymers for developing medical tubing, catheters, medical bags, drug delivery device, etc. The increase in health care infrastructure spending is one of the vital reasons fueling the growth of the market in North America.

In North America, Canada is one of the prominent and technologically advanced regional markets for medical fluoropolymers. The growth of the industry in Canada is primarily driven by the surged usage of medical fluoropolymers for developing medical tubing, catheters, medical bags, drug delivery device, etc. The rising demand for these fluoropolymers from the medical industry of the region for tablet and capsule packaging is also expected to lead to the growth of the market in Canada in the coming years.

The demand for medical components is expected to rise in Mexico in the coming years owing to the continuously increasing geriatric population and unhealthy lifestyle of the masses in the country that have led to an increase in instances of cardiovascular diseases, metabolic disorders, and respiratory diseases in the country. With a surge in demand for medical components in Mexico, the demand for medical fluoropolymers is expected to rise at a significant rate in the country over the forecast period.

In Asia Pacific, the market is expected to witness the fastest CAGR during the forecast period, owing to the increasing demand for medical fluoropolymers used for developing medical tubing, catheters, membranes, venous cannula, etc. The demand for the finest medical devices and components from hospitals in major economies of Asia Pacific, including China and India, is increasing owing to the rising healthcare expenditure of these countries.

In addition, the improving service and safety standards in hospitals in Asia Pacific are expected to drive the growth of the market in the region over the forecast period. The growth of the fluoropolymers industry in the Asia Pacific can also be attributed to the increasing usage of high-performance polymers, which offer enhanced chemical stability, improved impact resistance, and durability to medical components such as incubators, containers, syringes, and capillaries produced from them.

Competitive Insights

The global players face acute competition from each other and regional players, who have robust distribution networks and an adequate understanding of suppliers and regulations. Competition between companies is completely based on the product quality offered and the latest technology & innovation implemented in the production of fluoropolymers.

In November 2020, SABIC introduced a new polycarbonate-based CRX copolymer resin, which reduces the premature failure from environmental stress cracking (ESC) in medical equipment housings and devices. Similarly, in June 2020, Eastman Chemical Company introduced recycled co-polyester, namely Tritan, which is made of 50% recycled plastic. This move is intended to increase the usage of recycled plastics. Some prominent players in the medical fluoropolymers market include:

• Daikin Industries, Ltd.

• The Chemours Company

• Solvay SA

• Arkema

• Adtech Polymer Engineering Ltd.

• Dongyue Group Limited

• Saint-Gobain

• W. L. Gore & Associates, Inc.

• Hitachi, Ltd.

• Holscot Fluoropolymers Ltd.

 Medical Fluoropolymers Market Report Scope

Global Medical Fluoropolymers Market Segmentation

This report forecasts revenue and volume growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2019 to 2030. For this study, Grand View Research has segmented the global medical fluoropolymers market report based on product, application, and region:

• Product Outlook (Volume, Kilotons; Revenue, USD Million, 2019 - 2030)

  • Ethylene Tetrafluoroethylene (ETFE)

  • Polytetrafluoroethylene (PTFE)

  • Polyvinylidene Fluoride (PVDF)

  • Fluoroelastomers

  • Others

• Application Outlook (Volume, Kilotons; Revenue, USD Million, 2019 - 2030)

  • Medical Tubing

  • Catheters

  • Medical Bags

  • Drug Delivery Device

  • Others

• Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2019 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • France

    • U.K.

    • Italy

  • Asia Pacific

    • China

    • India

    • Japan

    • South Korea

  • Central & South America

    • Brazil

  • Middle East & Africa

    • GCC