Blood Compatible Polymers Market Introduction;
- Demand for substitutes for biomedical therapies is rising at a rapid space. These substitutes are called biomaterials, and they do not react with biological systems. Direct contact between blood and any biological material can sustain with the help of some heparin-based anticoagulant or antithrombotic treatment. However, the biological system carries certain timespan. The treatment is used to avoid clotting of blood. After many years of research, it has been observed that polymers can be used for biomedical purposes, as they help resolve issues mentioned above.
- Polymers that are blood compatible consist of antithrombogenic biomaterials that do not include blood-soluble additives. Biocompatible polymers are used to interface with biological systems to treat, evaluate, replace, and augment any organ, function, or tissue.
- Based on type, the blood compatible polymers market can be segmented into polyvinylchloride, polytetrafluoroethylene, polyethersulfone, polyethylene, polyetheretherketone, polysulfone, and polypropylene. Polyvinylchloride is used in blood bags and blood tubing. Polytetrafluoroethylene is employed in endoscopes, synthetic blood vessels, surgical sutures, tubing, cannulas, catheter linings, etc.
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Key Drivers of Blood Compatible Polymers Market
- The blood compatible polymers market is driven by growth of biomedical and pharmaceutical end-use industries. Blood compatible polymers carry various advantages over other biomedical devices. They have been used extensively over the last two decades. However, blood compatible polymers need to be made at a particular composition of polymers. Several techniques are used to gain desired properties of polymers to make them blood compatible. These techniques need highly skilled workers and adequate laboratory facilities. Hence, lack of skilled workers and laboratory facilities is likely to restrain the global blood compatible polymers market.
- Blood compatible polymers are used in various biomedical and blood contacting devices. They are used for tissue culture, tissue scaffolds, and wildlife vaccination. These polymers are used in vascular prostheses, neurostimulators, heart pacemakers, heart valves, orthopedic joints, cochlear implants, and ophthalmic implants. Blood compatible polymers are employed in dental applications such as composites for teeth and crowning, repair of chipped tooth, and replacement of teeth. They are also used for drug delivery. Biodegradable polymers are injected into blood to release cancer fighting drugs.
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Restraints of Global Blood Compatible Polymers Market
- Dearth of universal directives pertaining to applications of blood compatible polymers is likely to hamper the market in the near future. Every country has different directives and legislations pertaining to the use of blood compatible polymers. Companies find it difficult to meet these country-wise directives and legislations. This can discourage investment in the blood compatible polymers market, thereby adversely affecting the market.
- Lack of awareness and less adoption of blood compatible polymers in many developed and underdeveloped countries is projected to restrain the market during the forecast period
COVID-19 impact on Blood Compatible Polymers Market
- Key players operating in the market are primarily tier I and tier II manufacturers and suppliers. Manufacture and supply chain facilities of these players are spread across various countries in Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. Many of these players have halted their production output over the last few months due to the COVID-19 pandemic. The pandemic has negatively impacted the demand and supply chain of these materials.
Asia Pacific to Hold Major Share of Blood Compatible Polymers Market
- Based on region, the blood compatible polymers market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is a prominent region of the global blood compatible polymers market. It is expected to continue to dominate the market during the forecast period.
- North America and Europe are also estimated to account for large share of the global blood compatible polymers market throughout the forecast period. Demand for blood compatible polymers is primarily driven by rise in penetration of blood compatible polymers in various applications such as wound management and cosmetic surgery, and advancements in biotechnology. Increase in medical expenditure and rise in awareness about health and fitness are also expected to boost the blood compatible polymers market in the region. Growth in investment in the medical sector in countries such as India, China, and Indonesia in Asia Pacific and rise in disposable income of the middle class are likely to augment the blood compatible polymers market during the forecast period.
- The market in Middle East & Africa is expected to expand at a steady pace during the forecast period
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Prominent Players in Global Blood Compatible Polymers Market
Major players operating in the global blood compatible polymers market are adopting various organic and inorganic growth strategies such as joint ventures, mergers & acquisitions, expansion, collaborations, new product launches, strategic alliances, and research and development to increase their regional presence and business operations. Key players operating in the market include:
- AdvanSource Biomaterials Corporation
- Sanofi S.A.
- Baxter International Inc.
- ASM International
- Biomaterial USA LLC.
- Eastman Chemical Company
- Evonik Industries AG
- The Dow Chemical Company
- Jiangsu Senolo Medical Technology Co., Ltd.
- TOPAS Advanced Polymers GmbH.
Blood Compatible Polymers Market: Research Scope
Blood Compatible Polymers Market, by Type
- Polyvinylchloride
- Polytetrafluoroethylene
- Polyethersulfone
- Polyethylene
- Polyetheretherketone
- Polysulfone
- Polypropylene
Blood Compatible Polymers Market, by Application
- Biomedical & Blood Contacting Devices
- Dental
- Drug Delivery
Blood Compatible Polymers Market, by Region
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Russia & CIS
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- ASEAN
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
Companies in the Blood Compatible Polymers market have increasingly shifted gears with wide application of digital technology across the continuum, from raw material sourcing to manufacturing to generation of final output, to warehousing to final distribution operations. Among the various affects, the market is witnessing new growth economics due to thinning of line between specialty and commodity businesses that are associated with the larger ecosystem. At the same time, new growth parameters are being vigorously being debated as industry stakeholders put greater emphasis on the circular economy processes.
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