Medical Grade PVC: Introduction
- Polyvinyl chloride (PVC) offers a wide range of properties. As a result, it is extensively used in the medical industry. It is a highly flexible material. Thus, it is used in the formulation of products such as blood bags or intravenous (IV) tubing. Its strength and durability under varying temperature conditions make it an ideal material to be used in the medical industry. These properties of medical grade PVC help provide better convenience and performance. Furthermore, it offers high durability and long-lasting performance.
- Low cost of medical grade PVC and low manufacturing and maintenance costs make it an excellent option in the medical industry. The usage of substitutes of medical grade PVC such as thermoplastic elastomers ad silicones results in higher cost of manufacturing medical devices.
- Another characteristic of medical grade PVC is its excellent compatibility with all the other medical grade polymers. This helps in the formulation of a wide range of products in the medical industry.
Attributes of Medical Grade PVC to Drive Market
- Medical grade PVC is primarily used in the formulation of intravenous (IV) tubing and blood bags. Medical grade PVC offers a broad range of properties for various applications in the medical industry. It complies with a substantial range of performance and processing characteristics such as transparency, chemical resistance, scuff resistance, and flexibility. Additionally, medical grade PVC offers excellent bonding ability, sterilizability by steam, ETO, or high energy irradiation and low cost. Medical grade PVC is one of the highly employed polymers in medical devices.
Impact of COVID-19 on Global Medical Grade PVC Market
- The global medical grade PVC market has not been significantly affected during the course of the COVID-19 pandemic. With the increase of spread of pandemic, more and more people are being admitted to hospitals. This is expected to boost the demand for products such as intravenous infusion sets & connectors, blood bags, catheters & connectors, masks, and surgical gloves. In turn, this is anticipated to propel the consumption of medical grade PVC. However, the spread of the pandemic has disrupted the supply chain and led to closure of sites. This is likely to adversely affect the production of medical grade PVC. Hence, demand for medical grade PVC is anticipated to increase, but supply may remain tight during the pandemic.
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Asia Pacific to Hold Major Share of Global Medical Grade PVC Market
- In terms of region, the global medical grade PVC market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Key factors driving the medical grade PVC market in Asia Pacific are growth in the medical devices market, government initiatives, and low labor costs. The usage of disposable medical products has increased significantly over the last few years. China dominates the medical grade PVC market in Asia Pacific. Manufacturers of medical grade PVC in Asia Pacific are highly focusing on China, Japan, and India. The medical device industry in Japan is highly attractive. Recent developments in the medical sector along with advancements in material science & technology are likely to boost the demand for medical grade PVC in Asia Pacific. Properties of medical grade PVC such as abrasion resistance, light weight, and excellent mechanical strength are expected to drive its demand across the region in the near future.
- Advancements in medical science and technology in the U.S. and presence of medical device manufacturers in North America are propelling the demand for medical grade PVC in the region
- Germany is a key country for the medical grade PVC industry in Europe. The country is a prominent business location for medical technology in the world. Manufacturers in Germany extensively invest in R&D and product innovation. This is likely to create new opportunities for the medical grade PVC market.
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Key Players Operating in Market
Global medical grade PVC market is highly fragmented, with the presence of global players. Key players operating in the medical grade PVC market include:
- Manner Polymers
- Formosa Plastics Group
- Westlake Chemical Corporation
- Occidental Petroleum Corporation
- Kem One
- Vinnolit GmbH & Co. KG
- Xinjiang Zhongtai Chemical Co. Ltd
Global Medical Grade PVC Market: Research Scope
Global Medical Grade PVC Market, by Processing Technology
- Injection Molding
- Blow Molding
Global Medical Grade PVC Market, by Application
- Intravenous Infusion Sets & Connectors
- Blood Bags
- Catheters & Connectors
- Surgical Gloves
- Others (Blister Packaging, Medical Manikins, Heparin Tubes, etc.)
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.