South America Medical Polyoxymethylene Market is expected to reach US$ 3,450.82 thousand by 2028

PRESS RELEASE BY The Insight Partners 08 Jul 2021

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Insulin Pen Segment to Dominate SAM Medical Polyoxymethylene Market during 2020–2028.

  According to The Insight Partners market research study on “SAM Medical Polyoxymethylene Market to 2028 – COVID-19 Impact and Analysis and Forecast by: Application,” is expected to reach US$ 3450.822 thousand by 2028 from US$ 2533.02 thousand in 2020. The market is estimated to grow at a CAGR of 3.9% from 2020 to 2028. The report provides trends prevailing in the SAM medical polyoxymethylene market along with the drivers and restraints pertaining to the market growth. Rising instances of hospital-acquired infections (HAIs) is the major factor driving the growth of the SAM medical polyoxymethylene market. However, issues associated with the strict regulations on use of thermoplastics and competition from traditional materials hinder the growth of SAM medical polyoxymethylene market.

The SAM medical polyoxymethylene market is segmented into application, and country. On the basis of application, the SAM medical polyoxymethylene market is categorized into dialysis machine, handles for surgical instruments, inhalers, insulin pen, and others. Insulin pen segment dominated the market in 2019. Further, the inhalers segment is expected to be the fastest growing segment during the forecasted period.

Brazil has the highest number of COVID-19 cases in South America, followed by Ecuador, Chile, Peru, and Argentina, among others. Governments of these countries have taken an array of actions to protect their citizens and contain COVID-19 spread. The region is experiencing lower export revenues, both, from the drop in commodity prices and reduction in export volumes, especially due to lowered export performance in China, Europe, and the US. Containment measures in several South American countries have reduced economic activity in the chemical and materials industry; however, the sector is likely to rebound once the country manages to control the epidemic.

BASF SE; Celanese Corporation; DuPont de Nemours, Inc.; Ensinger; Korea Engineering Plastics Co., Ltd.; LG Chem; and Mitsubishi Chemical Corporation; are among the leading companies in the SAMmedical polyoxymethylene market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, Polyplastics Group expanded its DURACON (R) polyoxymethylene (POM) PM series portfolio with the development of a new high-flow grade for drug contact and delivery applications for the medical and healthcare market. The new grade, DURACON PM27S01N, offers reduced wall thickness, miniaturization, and lower weight for various medical devices that are becoming increasingly complicated and highly functional.

The Report Segments the SAM Medical Polyoxymethylene Market as Follows:

 SAM Medical Polyoxymethylene Market – By Application

  • Dialysis Machine
  • Handles for Surgical Instruments
  • Inhalers
  • Insulin Pen
  • Others

SAM Medical Polyoxymethylene Market – By Country

  • Brazil
  • Argentina
  • Rest of SAM
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