Fluoropolymers in Healthcare Market By Product Type (PTFE, PVDF, PVF, FEP, PCTFE, PFA), Application (Medical Devices, Hospital Disposable, Pharma Packaging) & Region - Forecast to 2020-2030

Introduction

New materials that exhibit suitable properties for particular application have resulted in increasing interest among healthcare professionals and patients over past few decades.

Among them, fluoropolymers (FP) are relevant niche candidates that are equipped with favorable properties such as chemical inertness (to oils, solvents, and acids), thermal stability, and durability.

Increased emphasis on health and hygiene to avoid potential COVID-19 contagion has bolstered sales of various hospital disposables. In addition, governments and health authorities are leveraging federal powers to influence manufacturers to ramp up production of hospital disposables at significant pace.

As such, the COVID-19 pandemic has fueled sales of hospital disposables and medical equipment as epidemiological numbers continue to surge. These trends will work in favor of fluoropolymers in healthcare market. By 2030, sales of fluoropolymers in healthcare industry will register revenues over US$ 900 Mn.

Growing Focus Toward Medical Devices

The global medical device industry is witnessing tech-enabled advances and continuous innovations. As such, investments in R&D in this domain have surged by nearly 2X over recent past.

According to recent estimates, firms in medical device industry spend about 7% of their yearly revenue on R&D activities, echoing competitive nature of this sphere. Further, these estimates suggest that adoption of fluoropolymers in medical devices is prominent in developed regions, especially the US.

While hospital disposables and pharma packaging have been conventional applications for fluoropolymer manufacturers, adoption in medical devices such as catheters, and introducers will rise at rapid CAGR in coming years.

Expanding Revenue Pool

The COVID-19 pandemic and subsequent rising hospital admissions across the globe have considerably fueled the demand for medical disposables. The World Health Organization (WHO) has instructed industries and regulatory bodies to scale up manufacturing of personal protective equipment (PPE) such as medical gloves, hospital gowns, and face shields by 40% to cater to increasing global demand.

FMI also finds that rise in demand for such accessories has fueled their prices significantly. Case in point, price of hospital gowns has surged two-fold and that of surgical masks has increased six-fold. Further, the WHO has shipped nearly 500, 000 sets of PPE to about 47 countries. As such, sales of fluoropolymers have seen notable rise during the COVID-19 pandemic.

Region-wise Analysis

East Asia Fluoropolymers in Healthcare Market

East Asia continues to engage stakeholders in fluoropolymers in healthcare market over following decade. The WHO reveals that 10 out of every 100 hospitalized patients in developing countries at any given time will acquire at least one healthcare-associated infection (HAI). Further, prevalence of HAIs is significantly higher in middle- and low-income countries (LMIC).

In addition, East Asia has been among the worst affected regions by COVID-19 pandemic. China and South Korea have registered notable rise in prevalence of COVID-19 spread. Densely populated pockets in these regions are triggering the risk for community transmission of the virus.

These broad factors will drive East Asia fluoropolymers in healthcare market. While China and South Korea collectively capture around 90% of overall regional market value, Japan will reflect potential growth prospects.

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Europe Fluoropolymers in Healthcare Market

Europe follows East Asia in global fluoropolymers in healthcare market in terms of revenue share and CAGR.  Pharmaceutical industry is among key-performing high-tech industries in Europe.

Medicines regulatory system of the region is based on network of 50 regulatory bodies from the European Commission, 31 European Economic Area (EEA) countries, and the European Medicines Agency (EMA).

Plastic bottles are utilized in large quantities for oral medicines distributed via prescription and bulk dose volumes to retail and mail order pharmacies. Moreover, plastic bottles find immense use in several applications as containers for over-the-counter (OTC) drugs distributed in capsules and tablets.

While Germany represents fluoropolymers in healthcare market in Europe, players are also generating substantial revenues from Italy and the UK.

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North America Fluoropolymers in Healthcare Market

The fluoropolymers in healthcare market in North America is receiving major impetus from notable rise in hospital acquired infections (HAIs) and medical surgeries. HAIs result in myriads of mortalities and cost the US healthcare system significantly every year.

As such, the US Department of Health and Human Services (HHS) has recognized reduction of HAIs as Agency Priority Goal (APG). In addition, the US tops the list of active COVID-19 cases, thus, triggering the demand for hospital disposables. This, in turn, will drive adoption of fluoropolymers in healthcare systems.

The US will remain at forefront of regional market, as the country account for sales of about 9 out of 10 fluoropolymers, while market in Canada will fade in coming years.

Category-wise Insights

Product

About half of medical equipment globally contains polytetrafluoroethylene (PTFE) or teflon coatings, owing to their umpteen resistance against corrosion and various chemical agents. Healthcare professionals generally prefer medical equipment that are coated with teflon. In laboratories, teflon plays crucial role in maintaining safe and bacteria-free environment.

Moving ahead, in certain labs, microbial cultures are created for research purposes. Myriads of utensils utilized by healthcare professionals as well as platforms and analyzing tables are coated with teflon as the material does not impede development of bacteria and microbes.

Application

Increasing prevalence of HAIs and pandemic-related diseases has compelling consumers to resort to hospital disposables. The US Department of Health & Human Services (HHS) states that about 4% of total inpatients suffer from infection due to hospital care, at any given time.

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Moreover, sales of hospital disposables have reached their peak amidst the COVID-19 pandemic. Among hospital disposables, medical gloves and blood bags continue to account for greater demand. Moving ahead, market players will hurt their revenue pool if they do not place their bets on medical devices.

Competitive Intelligence

Top 10 players capture about 40-45% of overall revenue. Fluoropolymer manufacturers are focusing on developing multipurpose products such as standard as well as customized or compounded products.

In addition, they are looking to equip their offerings with innovate technologies to cater to high-end applications. Mergers & acquisitions (M&A) will be another key focus point for global market players.

DIC Corporation has developed novel polyester plasticizer made from biomass resources and has earned the “Biomass 100%” Biomass Mark.

Korean joint venture - Mitsui Chemicals & SKC Polyurethanes Inc. – has manufactured ECONYKOL™ bio-polyol, which is raw material for plant-sourced biomass plastics that help curb ecological impact. The product has been adopted for polyurethane (PU) cushioning in seats of Robocar™ self-driving car.

Honeywell International Inc. has launched breakthrough platform of liquid heat transfer agents that cool high-performance electronics more effectively compared to conventional techniques that utilize water and air. IN addition, the company has rolled out 30 Series IP Cameras, which is a new set of video cameras that steps up infrastructure safety and security via advanced analytics and secure channel encryption.

3M Company has acquired Acelity, Inc. and its KCI subsidiaries. Further, the company has entered into royalty-bearing patent license agreement with LG-Innotek (LGIT) to leverage 3M’s metal mesh technology.

Daikin Industries Ltd. has acquired Heroflon, whose product assembly consists of micro-powders and fluoropolymer compounds derived from PTFE.

Lonza has entered into collaboration with Mesoblast to commercially develop Mesoblast’s lead allogeneic (off-the-shelf) cell therapy product - remestemcel-L - for pediatric steroid-refractory acute graft versus host disease (aGVHD).

In addition to these, some other key players in fluoropolymers in healthcare market include

• DIC Corporation
• AGC Inc.
• Dongyue Group Ltd.
• Solvay S.A.
• PolyOne Corporation
• Kaneka Corp.
• Arkema Group
• Saint Gobain S.A.
• The Chemours Company

Fluoropolymers in Healthcare Market Report: Scope

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Key Segments

Product Type

• PTFE
• PVDF
• PVF
• FEP
• PCTFE
• PFA
• Others

Application

• Medical Devices
• Hospital Disposable
• Pharma Packaging

Regional Outlook

• North America (US, and Canada)
• Latin America (Brazil, and Mexico)
• Europe (Germany, UK, Russia, France, and Italy)
• South Asia & Pacific (India, Indonesia, Thailand, Australia and New Zealand)
• East Asia (China, Japan, and South Korea)
• Middle East & Africa (MEA) (Turkey, GCC Countries, and South Africa)