Fluoropolymers in Healthcare Market Size, Share, Trends, Value 2030

Industry Perspective:

The global fluoropolymers in healthcare market size was worth USD 431.50 million in 2021 and is estimated to grow to USD 561.92 million by 2028, with a compound annual growth rate (CAGR) of approximately 4.50 % over the forecast period.

The report analyzes the global fluoropolymers in healthcare market's drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the global fluoropolymers in healthcare market.

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Fluoropolymers in Healthcare Market: Overview

Some of the characteristics of fluoropolymer include chemical stability, mechanical and electrical insulation, heat resistance, strain cracking, and others. Fluorinated ethylene propylene, polyvinylidene difluoride, polytetrafluoroethylene (PTFE), and other types of fluoropolymers are among them. Numerous properties of polytetrafluoroethylene include its ability to operate at high temperatures, resistance to chemical reactivity, and non-stick properties. Similar to PTFE, fluorinated ethylene propylene may melt, allowing it to be treated in a number of ways. It also has a lower melting point than PTFE. Due to their exceptional qualities, fluoropolymers are quickly being employed in biomedical and packaging projects all over the world. The number of research initiatives to produce a more environmentally friendly fluoropolymer is predicted to increase throughout the forecast period, which will lead to an increase in the fluoropolymer in healthcare market. The fluoropolymer's strong heat and chemical resistance make it ideal for biopharmaceutical processing techniques. They may now also be used in surgical procedures thanks to their efficient dielectric application, conductivity, and biocompatibility. Furthermore, the coating of fluoropolymer offers corrosion, chemical resistance, and high-temperature tolerance, making them perfect for architectural applications. This is another factor driving the increase in demand for the global fluoropolymers in healthcare market.

COVID-19 Impact:

The effects of COVID-19 are unparalleled. However, due to the lockdown that was established in practically every economy worldwide to stop the coronavirus from spreading, the COVID-19 pandemic has had an unequal influence on the market for fluoropolymers in healthcare. The activities, production, distribution, and retail outlets were consequently stopped. As a result, the various end-use sectors' demand for finished goods has decreased, which has contributed to the current year's slow development.

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Key Insights

• The global fluoropolymers in healthcare market is projected to witness growth at a CAGR of 4.5% during the forecast period.
• The global fluoropolymers in healthcare market size was worth USD 431.50 million in 2021 and is estimated to grow to USD 561.92 million by 2028.
• Surgical tools are frequently coated with fluoropolymers because they produce a smooth, non-porous surface that is simple to clean and helps lower the risk of infection. This is crucial for sensitive operations like eye surgery, where even a tiny bit of germs might result in major issues.
• In 2021, medical devices category dominated the global market by application.
• The market for fluoropolymers in healthcare is expected to develop at the quickest rate in Asia-Pacific as a result of increased consumer demand.

Fluoropolymers in Healthcare Market: Growth Drivers

Growth to be driven by increasing acceptance of the component’s qualities of safety and performance

The primary drivers of the global fluoropolymers in healthcare market expansion are the rise in disposable income, increasing spending for the industry, increasing healthcare awareness, and stringent government restrictions. The polymer extends the component's life for performance and safety in the healthcare industry. They offer durable protection against corrosive fluids, heat, vibration, and humidity. Components with polymer coatings have longer lifespans because they experience less corrosion and friction.

Fluoropolymers in Healthcare Market: Restraints

Careless PFAS release might have a negative impact on the environment

Polyfluoroalkyl chemicals and perfluoroalkyl substances (PFAS) provide some environmental concerns when emitted or disposed of at the industrial site. An insoluble PTFE may carry a little danger to health or the environment. PFAS are released throughout the polymer's manufacturing, usage, and processing processes, including oligomers and monomers.

The diffuse release of PFAS to the environment after the use and disposal of some PFAS-containing items may occur due to the different ways in which PFAS are used in consumer and commercial products. However, these might have a substantial negative influence on the ecosystem. The relative importance of various PFAS sources and products to the environment varies depending upon distribution method, released amounts, and impacted region. For instance, Class B firefighting foam may have a moderate effect on an airborne region.

Fluoropolymers in Healthcare Market: Opportunity

Renewable energy and increasing Li-ion battery use will drive market growth

Excellent chemical abrasion and corrosion resistance, as well as resistance to severe temperatures, all play a significant part in extending the lifespan of components. The energy demand may be influenced by the expanding world population and fast industrialization. Renewable energies, such as solar, wind, and new energy vehicles (NEV), are constantly growing in order to reduce global warming. As a result, technical developments for power transmission, efficiency, and proposals for new business models are blooming. Consequently, there is a growing need for lithium-ion batteries and other types of power storage technology to be integrated into the healthcare sector.

Fluoropolymers in Healthcare Market: Challenges

Strict government regulations may challenge the market growth

Stringent regulations put in place by regulatory agencies might impede the growth of the global fluoropolymers in healthcare market throughout the projected period. One of the chances for the worldwide market throughout the anticipated term is the synthesis of the novel copolymer. Fluoropolymer in healthcare has undergone several alterations to increase market expansion compared to other copolymer features and their applications.

Fluoropolymers in Healthcare Market: Segmentation

The global fluoropolymers in healthcare market is segregated on the basis of products, application, and region.

The market is divided into PTFE, PVDF, PVF, FEP, PCTFE, PFA, and others based on product. During the forecast period, polytetrafluoroethylene (PTFE) is anticipated to have the greatest worldwide fluoropolymer in healthcare market share. Compared to other copolymers, PTFE exhibits heat & chemical resistance and good electrical conductivity. Future market growth for PVDF is anticipated to spur due to the rising importance of piezoelectric materials in electronics. The largest market growth is anticipated from rising spending on PVDF-based coatings with help from chemical manufacturers like Solvay.

The market is divided into medical devices, pharmaceutical packaging, drug delivery, and others based on application. The medical devices category dominated the global market in 2021 and is estimated to continue its dominance over the forecast period. This is majorly due to increased demand for fluoropolymers for the manufacturing of medical devices across the globe.

Recent Developments:

• November 2017: Honey increased production for its Aclar Pharmaceutical Film business to meet the pharmaceutical industry's increased demand worldwide.
• March 2018: Beginning, Quadrant provided a laser-writable polyoxymethylene product to the worldwide engineering plastics industry. This product enabled Quadrant to meet the needs of the food and pharmaceutical sectors without risk of contamination.

Fluoropolymers in Healthcare Market: Report Scope

Competitive Landscape

Some of the main competitors dominating the global fluoropolymers in healthcare market include DIC Corporation, AGC Inc., Dongyue Group Ltd., Solvay S.A., PolyOne Corporation, Kaneka Corp., Arkema Group, Saint Gobain S.A., The Chemours Company.

Fluoropolymers in Healthcare Market: Regional Landscape

Asia Pacific to hold the largest market share in coming period

As a result of a rise in demand for fluoropolymer in healthcare market, the Asia-Pacific region is anticipated to have the quickest market growth. Due to the large manufacturing hubs in China & India and the rising demand for high-quality medical products, these two countries are the primary drivers of the Asia-Pacific fluoropolymers in healthcare market.

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Due to the area's expanding demand for significant healthcare, transportation, and electronics, expectations in China, India, and Indonesia are positive, as are any plans to encourage homegrown investment.

Global fluoropolymers in healthcare market is segmented as follows:

By Product

• PTFE
• PVDF
• PVF
• FEP
• PCTFE
• PFA
• Others

By Application

• Medical Devices
• Hospital Disposable
• Pharma Packaging

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa