Medical Polyoxymethylene Market Trends

Growth Drivers

• Growing Prevalence of Hospital Care-Associated Infections (HCAIs) - In developed countries, seven patients out of every 100 hospitalized patients and ten patients out of every 100 patients in developing nations contract an HCAI. 10 Additional research from high-income nations revealed that 5%-15% of hospitalized patients develop HCAIs, which could influence patients confined to intensive care units by 9% to 37%. Hospital-associated infections (HCAIs) may arise as a direct result of medical or surgical treatment or indirectly from contact with a healthcare environment. Up to 20% of all surgical patients experience a serious infection at the surgical site or wound. Hence the use of polyyoxymethylene medical instruments are expected to have huge demand in the medical polyoxymethylene (POM) market. 
• Rise in Use of Pen Insulin - In the US, the use of insulin pens climbed to 59% between June 2020 and June 2021, while it was predicted to reach 93.6% in Europe, according to an IQVIA® analysis.
• Surge in Investment in Medical Devices Industry - Foreign investments in the medical equipment sector surged 98% year over year in FY20, from USD 151.87 million to USD 301.01 million.
• Significant Growth in the Cases of Cardiovascular Disease - According to the World Health Organization, estimation, 17.9 million deaths worldwide in 2019 were attributable to CVDs, or 32% of all fatalities. Heart attack and stroke deaths accounted for 85% of these fatalities.
• Advancements in Technology - The Mitsubishi Engineering-Plastics Corporation's Iupital 05 Series is a new polyacetal that reduces the formation of formaldehyde. Formaldehyde odors, which are a problem in molding and subsequent processing, would be eliminated by the Iupital 05 Series, which is made to enhance working conditions.

Challenges

• Availability of Substitutes - It is projected that the development of new plastics appropriate for medical devices, such as PEEK and PC, would hamper the growth of the market under consideration. Some manufacturers, such as Ensinger, prefer to employ polyphenylsulfone (PPSU) and polyetheretherketone (PEEK), which offer somewhat higher performance levels, for use in medical devices owing to their superior physical, chemical, and biocompatible qualities. Therefore, the presence of alternatives hinders market expansion.
• Frequent Changes in Price of Raw Material
• Strict Regulation in Order to Protect Environment from the Harmful Thermoplastics