Polymethyl Methacrylate market size from medical ware applications should register over 15 kilo tons by 2024. Rising cataract and myopia occurrence due to increasing old aged population should encourage intraocular glass demand which would drive PMMA market size in medical ware application.
Sellbyville, DE -- (SBWIRE) -- 11/08/2018 -- Polymethyl methacrylate Market is a transparent thermoplastic, used as light-resistant or shatter-resistant alternative of glass commonly known as 'Plexiglas' and usually manufactured in sheets, pellets or powdered form. These are marketed and distributed through various channels such as direct marketing, supply agreements and third force delivery.
PMMA (Polymethyl Methacrylate) market from healthcare applications should generate revenue exceeding USD 235 million by 2024, according to new research report.
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Shifting trends towards substituting medical based conventional polymers such as PVC and polycarbonate with high quality and non-toxic polymers should drive PMMA market in medical and healthcare industry. Increase in medical expenses and rise in medical device sales should propel product demand.
Raw material sourcing risk and price fluctuations coupled with exchange rate risk may hamper product demand.
Continuous product development and increased emphasis on product innovation in healthcare industry by players to edge out other participants should catalyze PMMA market growth. Government intervention through agencies like REACH and FDA on usage of plastics and polymers, to safeguard consumer's interest should propel product demand.
Growing geriatric and incidences of fatal medical conditions in the U.S., Japan, and Europe should drive healthcare and medical devices industry which will drive global PMMA market. PMMA is used in manufacturing healthcare equipment such as cuvettes, incubators, IV components, desiccators and other disposable medical devices attributing to its light transmission, UV tolerance and protection from lipid and phthalates properties.
PMMA market from medical ware application registered over using 16 kilotons by 2024. Increasing incidences of cataract and myopia and growing demand for intraocular glass should pivot PMMA market growth.
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PMMA market from pharmaceutical handling application should generate over USD 30 million by 2024, owing to occurrences of numerous chronic diseases demanding pharmaceutical cabinet or newly innovated RFID cabinets. This should drive global PMMA market.
Asia Pacific PMMA market led by China and India predicts a growth rate of over 10% during the forecast timeframe. This growth can be attributed to huge medical device manufacturing industry growing over in these region, and invariably leading for regional growth of PMMA market.
North America PMMA market led by Canada and the U.S. should generate over USD 100 million by 2024. Increased usage of medical devices and stringent regulations set by agencies for using non-toxic and environment friendly polymer in manufacturing these devices should propel regional product demand.
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Global PMMA market is highly competitive due to presence of many medical devices manufacturing players. Some key players include Arkema, Evonik Industries, Lucite International, Globe Scientific, Bel-Art Products and Sumitomo Chemical.