The Chinese market for medical polymers was valued at US$1.7 bln in 2011 and at US$1.9 bln in 2012, as per BCC Research. The report forecasts total market value to surpass US$4 bln in 2017, after increasing at a five-year compound annual growth rate (CAGR) of 16.1%. The Chinese medical polymer market is growing quickly due to its close relationship with the pharmaceutical and medical device industries in China. The medical polymer market has grown steadily over the last twenty years and BCC Research predicts that this growth will continue over the next five years.
The Chinese medical polymer market is expected to be influenced by several factors such as the fast growth of the medical products market, establishment of pharmaceutical and medical device manufacturers in China, shifts by polymer manufacturers towards medical applications, production efficiency improvement, low emission standards and solutions for environmental constraints. According the report, the cardiovascular market is the fastest growing market in terms of consumption of medical polymers, although it is currently one of the smallest markets. Additionally, the report states that PLA will be the fastest-growing segment over the next five years and it will grow at a CAGR of more than 26% from 2012 through 2017. The research and development efforts for nontoxic polymers are increasing because of the high safety standards in the medical industry. The industry will also be significantly impacted by the increased environmental regulations in China. BCC Research has analyzed the impact of these new regulations and their impact on the medical polymer market specifically in this report.
The medical polymers market and production centers are concentrated in five major regions in China, including the Yangtze River Delta, the Pearl River Delta, and Northern China. This report identifies the Yangtze River Delta as both the largest and fastest growing region for medical polymers in China.