Medical Fluoropolymers Market Size, Share & Trends Analysis Report By Product (ETFE, PTFE, PVDF, Fluoroelastomers), By Application (Medical Tubing, Catheters, Medical Bags), By Region, And Segment Forecasts, 2023 - 2030

Market Size & Trends

The global medical fluoropolymers market size was valued at USD 475.18 million in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 9.2% from 2023 to 2030. Increasing demand for advanced medical technology and devices and growing healthcare investments in emerging economies are expected to drive the demand for medical fluoropolymers over the forecast period. The U.S. medical fluoropolymers industry is driven by the increasing demand for fluoropolymers in medical applications for manufacturing drainage bags, capsules, tablets, etc. The demand for medical fluoropolymers in various applications, including medical bags, medical tubing, catheters, and drug delivery devices, is expected to grow at a significant rate in the U.S. after the prevailing pandemic ends.

In the U.S., reduced margins and frequent increments in the costs of medical products have impacted health plan formulators and healthcare service providers. This has led the Government of the U.S. to ensure a significant transformation in insurance coverage and healthcare funding in the country through the introduction of the Affordable Care Act (ACA) and Medicaid.

Medical fluoropolymers have played an important role in revolutionizing healthcare. As healthcare technology advances, medical fluoropolymers have proven to be one of the few adaptable materials able to keep up with the changing needs of the industry. Medical-grade fluoropolymers are used in a variety of applications, including disposable plastic syringes, blood bags, novel heart valves, and other medical devices. Medical tubing is another area of healthcare that has seen significant advancements over the years due to the influence of medical fluoropolymers. Physicians can use fluoropolymer tubing and catheters to provide healthcare solutions with more features and functions.

Product Insights

The polytetrafluoroethylene (PTFE) product segment led the market and accounted for more than 65.0% share of the global revenue in 2022. Polytetrafluoroethylene (PTFE) is a synthetic fluoropolymer of tetrafluoroethylene that has numerous applications. PTFE is mainly used for the manufacturing of gaskets, pump interiors, washers, and seals on account of exhibiting chemical resistance and inertness properties. PTFE is expected to increase its application in the manufacturing of chips and encapsulation devices for quartz heaters. The growth of PTFE can be attributed to its easy blending properties with numerous fillers such as carbon graphite, glass bead, and molybdenum disulfide for enhancing certain attributes.

The Ethylene Tetrafluoroethylene (ETFE) is a fluorine-based plastic with enhanced strength and corrosion resistance over a wide temperature range. ETFE is widely used in the chemical, architectural, electrical/electronic, construction, automotive, and healthcare industries due to its unique chemical and physical properties. ETFE offers the best wear resistance, impact toughness, and radiation resistance of any fluoropolymer. ETFE is a melt-processable material and has mechanical qualities that are comparable to completely fluorinated polymers.

Polyvinylidene fluoride is utilized in biomedical sciences as an artificial membrane in immunoblotting due to its chemical resistance property. Owing to this property, PVDF membranes are utilized as membrane filtration devices in the biomedical industry. PVDF coatings exhibit resistance to abrasion and weathering; have high dielectric strength; and offer best-in-class non-flammable and self-extinguishing properties in case of fire.

Application Insights

The medical tubing application segment led the market and accounted for more than 37.0% share of the global revenue in 2022. Medical tubing is designed for several applications such as anesthesiology, respiratory equipment, peristaltic pumps, biopsy, check pump functions, and diagnosing congenital heart defects to allow clinicians to administer fluid & devices or allow for gas flow. These are also used in diagnostic instruments and bio-processing fluid transfers.

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.

The implanted medical device with extended drug delivery has had a significant impact on the development of stand-alone reservoir-based delivery systems. Implant surgery is intrusive and might result in irritation or infection. The use of active therapies in conjunction with medical devices can help to lessen or eliminate the trauma of implantation.

Regional Insights

The North America region dominated the market and accounted for more than 41.0% share of the global revenue in 2022. The medical fluoropolymers industry in North America is projected to witness significant growth in the coming years owing to the increased demand for medical fluoropolymers for developing drug delivery devices, medical tubing, catheters, medical bags, etc. The increase in healthcare infrastructure spending is one of the vital reasons fueling the growth of the medical fluoropolymers industry in North America.

The European market includes key economies of the region including Germany, the U.K., France, and Italy. The market in Europe is expected to witness significant growth as the region is on the cusp of a technological transformation in the healthcare industry for medical devices and products. Governments of different countries in Europe are strongly pushing for a change in their medical ecosystems with the adoption of advanced and effective technologies.

This is expected to propel the growth of the medical fluoropolymers industry in the region in the coming years. European region remains a major contributor to the medical fluoropolymers industry. The European Union (EU) has taken several initiatives that support the growth of its healthcare sector. This sector is continuously expanding through mergers and acquisitions undertaken by key market players, as well as through the establishment of healthcare startups in Europe.

The market in Asia Pacific is anticipated to witness considerable growth in the coming years 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.

Key Companies & Market Share Insights

The market is moving towards consolidation on account of the presence of a large number of global and regional players. Major players have a strong distribution network and product brands in the global market. The ongoing research & development activities in the medical fluoropolymers industry offer several growth and expansion opportunities to market players, which in turn is projected to positively influence the overall market.

Manufacturers are engaged in research and development activities for medical fluoropolymers. For instance, in October 2021, researchers from the University of California, Los Angeles (UCLA) developed a new method for creating medical-grade fluoropolymer films that are highly durable and have excellent mechanical properties. The films can be used in a variety of medical applications, including implantable medical devices and protective coatings. Some prominent players in the global 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 Report Segmentation

This report forecasts volume and revenue growth at global, regional & country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2019 to 2030. For the purpose of 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 Countries