Photopolymerization is a phenomenon in which a liquid resin is converted into insoluble poylmer material upon irradiation with a light source. The radiated light is often in the ultraviolet or visible region of the electromagnetic spectrum and interacts with light sensitive compounds called photoinitiators to create free radicals. These radicals can initiate polymerization of formulated mixtures of oligomers, monomers, and other components such as pigments, diluents, etc. to form crosslinked rigid polymers. The process of photopolymerization is also called as UV-curing and today products manufactured using these technologies are ubiquitous in our environment. Fundamental research in the area of photopolymerization has lead to increased understanding of the mechanisms behind cross-linking of polymeric mixtures. The outcome of this being increase in array of applications for this technology in industrial and medical sector. Some of the important products in which this technology finds application include electronic gadgets, domestic appliances, food and beverages containers, and automotive products. Application of this technology in medical applications is a recent market and hence is very niche compared to other applications segments.
This technique has been extensively used in the dentistry wherein sealants and dental restorations are formed in situ. The global market for photopolymerization in medical applications can be segmented on the basis of application area within the medical sector. The major application segments in this market include dentistry, 3D imaging, drug delivery and medical devices. The wide range of medical devices which use UV curing technology include catheters, endoscopes, cannulae, syringes, insulin pens, endotracheal tubings, angioplasty accessories, blood oxygenators, etc. Irgacure is one of the most widely used photoinitiators for medical applications. The UV curing can be performed using spot-curing or flood curing technology. Spot-curing involves delivering high amount of focused energy into relatively small areas while the flood curing systems deliver light to a larger area or focused band. Spot curing is widely used bonding technology in medical product applications and can deliver the radiant energy as a spot of 3-8 mm diameter or in customizable shape as required.
On the basis of geography, the global market for photopolymers in the medical applications is segmented into four major regions, namely, North America, Europe, Asia-Pacific and Rest of the World. The developed regions which include the U.S.A. and few countries in Europe are major markets for photopolymerization in medical applications. However, the emerging countries in Asia-Pacific are increasing their share of consumption and production photopolymerization owing to increasing industrialization in the region.
The market for photopolymers is expected to increase as number of companies relying on ultraviolet cured products to achieve environmental compliance as well as improving customer satisfaction. The absence of heat generation in UV curing process prevents degradation of lubricious coatings done on guide wires and balloon catheters. Therefore, photopolymerization has become an excellent choice in medical applications where low temperatures are required during manufacturing of medical devices. The newer features in the curing systems which confiscate earlier drawbacks are becoming available in the market. The advanced features help in precise control of radiation and selective wavelength radiation improves the process resulting into more reliable and repetitive quality products. Some of the major companies which manufacture photopolymers and UV curing systems include BASF Corporation, Ciba Specialty Chemicals, Inc., DSM Biomedical, Lumen Dynamics Group Inc., Heraeus Noblelight Fusion UV Inc., Nordson Corporation, and Henkel Corporation.
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.
3. Actionable Results
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.