Medical Grade Ultra High Molecular Weight Polyethylene Market Scope
Ultra-high molecular weight polyethylene (UHMWPE) has low friction, high resistance to wear, and high toughness, which makes it best suitable for various medical applications. UHMWPE is a subset of thermoplastic polyethylene and is widely used in arthroplasty such as knee replacement, shoulder replacement, small joint replacement, etc. It can also be used as a raw material to manufacture medical devices due to its wear and corrosion resistance property.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Mitsuboshi (Japan), Sigma-Aldrich (United States), Cleanse (United States), NAnoshel (United Kingdom), Garland Manufacturing Co. (United States), Honeywell (Japan), DSM (Netherlands) and LyondellBasell (Netherlands) |
CAGR | 11.3% |
The global market is highly competitive and consists of a limited number of providers who compete with each other. The intense competition, changing consumer spending patterns, demographic trends, and frequent changes in consumer preferences pose significant opportunities for market growth. Research Analyst at AMA estimates that Global Vendors will contribute to the maximum growth of Global Medical Grade Ultra High Molecular Weight Polyethylene market throughout the predicted period.
Mitsuboshi (Japan), Sigma-Aldrich (United States), Cleanse (United States), NAnoshel (United Kingdom), Garland Manufacturing Co. (United States), Honeywell (Japan), DSM (Netherlands) and LyondellBasell (Netherlands) are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Medical Grade Ultra High Molecular Weight Polyethylene market by Type , by Application (Medical Textiles, Medical Device, Braided Cords & Tapes, Joint Replacement and Others) and Region with country level break-up.
On the basis of geography, the market of Medical Grade Ultra High Molecular Weight Polyethylene has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In February 2023, Honeywell International Inc. introduced the addition of ultra-fine fiber to their Spectra Medical Grade (MG) BIO fiber line. They are used for minimally hostile orthopedic and cardiovascular device design while also increasing device longevity.
In January 2024, Asahi Kasei and an affiliated company acquired the international sustainability certificate ISCC PLUS for a number of goods, including ultra-high molecular weight polyethylene. With the receipt of this certification, the company will be able to offer ISCC PLUS certified grades of thermoplastic elastomers and rubbers, engineering plastics, and other materials.
Influencing Trend:
Increasing R&D Activities for the Development of Innovative Implantable Products and Expand Medical Usage
Market Growth Drivers:
Increasing Demand for Medical grade UHMWPE in Medical Textile and Medical Device Manufacturing and Increasing Number of Joint Replacement Surgeries Across the Globe
Challenges:
The Development of Polymer Nanocomposites as An Alternative To UHMWPE
Restraints:
High Cost
Opportunities:
Growing Demand of Braided Cords & Tapes Due to Increasing Number of Surgeries
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Medical Grade UHMWPE Manufacturers, Suppliers and Distributors of Medical Grade UHMWPE, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations, End-Users and Others