Asia to Lead the Demand for medical polyetheretherketone. Global Valuation Expected to Reach US$ 1158.26 Million by 2032. The rising demand for clinical applications is projected to be a critical medical polyetheretherketone market driver. Polyetheretherketone is emerging as an efficient product for implantable devices. The medical polyetheretherketone market in the United States is projected to rise rapidly during the projected period.
DELAWARE CITY, Del., August 3, 2022 (Newswire.com) - The global medical polyetheretherketone market is expected to reach a market valuation of US$ 572.54 Million in 2022, accelerating with a moderate CAGR of 7.3% through 2022-2032. The medical polyetheretherketone market size is anticipated to be valued at about US$ 1158.26 Million by 2032 end.
Increased adoption of medical polyetheretherketone as a substitute for metals has boosted the medical polyetheretherketone market. Aluminum, carbon steel, bronze, stainless steel, brass, titanium, and magnesium are among the metals that medical polyetheretherketone has begun to replace in significant numbers.
As a result of rigorous environmental rules, automakers are compelled to increase fuel economy, decrease maintenance needs, and lower noise levels. As a result of these laws, the trend for lighter automobiles is being driven by automobile light-weighting. Polyetheretherketone is a substantial improvement over metals for decreasing pollutants and increasing fuel efficiency.
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The demand for medical polyetheretherketone will not grow as fast as it could because it is more expensive than other medical-grade polymers. But these plastics can't replace medical polyetheretherketone because it is a high-performance polymer with better qualities like high flexural strength, resistance to impact, resistance to chemicals and heat, and compatibility with living organisms. Strict rules about medical devices also make it hard to use medical polyetheretherketone in medical devices and implants.
Over the projection period, the Asia-Pacific region's revenue is anticipated to increase by 8.7%. With a medical polyetheretherketone market value of USD 36.17 million in APAC for medical polyetheretherketone in 2021, cardiovascular applications emerged as the leading category in the region.
"In terms of revenue, the Asia Pacific region is expected to grow at a rate of 8.7% over the forecast period," says Sabyasachi Ghosh, Principle consultant at FMI.
Key Takeaways from Market Study
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Important participants include Panjin Zhongrun High-Performance Polymers Co. Ltd., Victrex Plc., Jrlon Inc., and Quadrant EPP Surlon India Ltd.
Source: Future Market Insights, Inc.
Tags: Medical Polyetheretherketone, Polyetheretherketone Market, Polyetheretherketone share
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