MEDICAL POLYOXYMETHYLENE MARKET ANALYSIS

Medical Polyoxymethylene MarketSize and Trends

The global medical polyoxymethylene (POM) market size was valued at US$ 199.8 million in 2022 and is anticipated to witness a compound annual growth rate (CAGR) of 3.37% from 2023 to 2030. The increasing population with diabetes, coupled with the growing awareness about the use of this polymer in medical equipment are driving growth of medical polyoxymethylene (POM) market. It is a non-toxic material and can be formulated in different colors, which makes it popular among medical device manufacturers. Moreover, it is easily moldable and molded into shape by injection or extrusion methods. It is a cost-effective material that is widely used in the manufacture of various medical devices and equipment.

Figure 1. Global Medical Polyoxymethylene (POM) Market, By Region 2022

Figure 2. Global Medical Polyoxymethylene (POM) Market, By Medical Application 2022

Global Medical Polyoxymethylene (POM) Market Trends:

Rising popularity of Polyether ether ketone (PEEK)

Polyether ether ketone (PEEK) is a unique semi-crystalline engineering thermoplastic that offers excellent chemical compatibility, low susceptibility to stress cracking, good electrical insulation and is easy to machine. This material is used to make components for a wide variety of applications in the medical and aerospace industries.

Increasing focus on medical devices is another recent trend

The geriatric population and the increase in chronic disease have driven the demand for advanced medical devices and equipment. This trend will continue throughout the forecast period and is expected to contribute to the growth of the medical polyoxymethylene market. Moreover, the increasing focus on medical devices that have improved physical and mechanical properties is also expected to drive the growth of this market.