Middle East & Africa Medical Polymers Market Size & Outlook
Middle East & Africa medical polymers market, 2019-2030 (US$M)
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MEA medical polymers market highlights
- The MEA medical polymers market generated a revenue of USD 421.6 million in 2022.
- The market is expected to grow at a CAGR of 4.7% from 2023 to 2030.
- In terms of segment, fibers & resins was the largest revenue generating product in 2022.
- Medical Elastomers is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, Saudi Arabia is expected to register the highest CAGR from 2023 to 2030.
MEA data book summary
| Market revenue in 2022 | USD 421.6 million |
| Market revenue in 2030 | USD 606.7 million |
| Growth rate | 4.7% (CAGR from 2022 to 2030) |
| Largest segment | Fibers & resins |
| Fastest growing segment | Medical Elastomers |
| Historical data covered | 2019 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Fibers & Resins, Medical Elastomers, Biodegradable Polymers |
| Key market players worldwide | Basf SE, Cargill, Covestro AG, Celanese Corp Class A, Eastman Chemical Co, Evonik Industries AG, Dow Inc, Exxon Mobil Corp, Arkema SA, Koninklijke DSM NV, Formosa Plastics Group, SABIC, Trinseo PLC |
Other key industry trends
- In terms of revenue, MEA region accounted for 2.1% of the global medical polymers market in 2022.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 9,188.3 million by 2030.
Key Regions: U.S. , UK , Japan , Brazil , South Africa
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Medical Polymers Market Scope
Medical Polymers Market Companies
| Name | Profile | # Employees | HQ | Website |
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Middle East & Africa medical polymers market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to medical polymers market will help companies and investors design strategic landscapes.
Fibers & resins was the largest segment with a revenue share of 76.92% in 2022. Horizon Databook has segmented the Middle East & Africa medical polymers market based on fibers & resins, medical elastomers, biodegradable polymers covering the revenue growth of each sub-segment from 2019 to 2030.
The demand for medical polymers in the MEA is expected to be driven by the rapid population growth, increasing per capita income and high incidences of lifestyle-related disorders in the region. The demand for technologically superior medical devices is expected to increase significantly, thereby propelling the demand for advanced polymer materials.
Although the consumers in the region spend a limited proportion of their income on healthcare, the governments in the Middle Eastern economies are spending significantly on the healthcare sector. The region is characterized by unequal access to healthcare facilities and a shortage of healthcare professionals.
In addition, a high volume of the medical devices and components used in the region are imported from low-cost device manufacturers located in Asia Pacific, thereby restraining the demand for medical-grade polymers.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Middle East & Africa medical polymers market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa medical polymers market from 2019 to 2030, including revenue numbers, major trends, and company profiles.
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MEA medical polymers market size, by country, 2019-2030 (US$M)
Middle East & Africa Medical Polymers Market Outlook Share, 2022 & 2030 (US$M)
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