Europe Medical Polyoxymethylene Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Application (Dialysis Machine, Handles for Surgical Instruments, Inhalers, Insulin Pen, and Others)
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The medical polyoxymethylene market in Europe is expected to reach US$ 17,165.62 thousand by 2028 from US$ 12,143.40 thousand in 2020. The market is estimated to grow at a CAGR of 4.4% from 2020 to 2028.
The UK, Germany, France, Italy, and Russia are major economies in Europe. The healthcare industry is expected to witness monumental transformation along with the factors such as rapid urbanization, rising instances of infectious diseases, and shift in consumer lifestyle. The demand for Medical POM has been rising in healthcare setting for sterilization of medical devices. However, the use of Medical POM is not limited to medical industry and has been expanding across diversified end use industries such as indoor air/HVAC applications along with building and construction, food & beverage, mold remediation, and packaging.
In Europe, currently the UK and Russia, followed by France, Spain, Italy, and Germany, are the hardest-hit countries by the COVID-19 pandemic. These countries are estimated to suffer an economic hit due to a lack of revenue from various industries. Other member states have implemented drastic measures and travel restrictions, including partial closing of their borders. The ongoing COVID-19 pandemic has drastically altered the growth status of the medical polyoxymethylene industry. The outbreak has distorted operational efficiency and disrupted the value chains due to the sudden shutdown of national and international boundaries, creating revenue loss and damage. The disturbed value chain has had a negative impact on raw material supply. However, as the economies are planning to revive their operations, the demand for medical polyoxymethylene is expected to rise in the coming months. However, the focus over just-in-time production is another factor hindering the medical polyoxymethylene market growth across the Europe region.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Europe medical polyoxymethylene market. The Europe medical polyoxymethylene market is expected to grow at a good CAGR during the forecast period.
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Europe Medical Polyoxymethylene Market Segmentation
Europe Medical Polyoxymethylene Market – By Application
- Dialysis Machine
- Handles for Surgical Instruments
- Inhalers
- Insulin Pen
- Others
Europe Medical Polyoxymethylene Market - By Country
- Germany
- France
- Italy
- UK
- Russia
- Rest of Europe
Europe Medical Polyoxymethylene Market -Companies Mentioned
- BASF SE
- Celanese Corporation
- DuPont de Nemours, Inc.
- Ensinger
- Kolon Plastics
- Korea Engineering Plastics Co., Ltd.
- LG Chem
- Mitsubishi Chemical Corporation
- Polyplastics Co., Ltd.
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Europe Medical Polyoxymethylene Market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the Europe Medical Polyoxymethylene market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth Europe market trends and outlook coupled with the factors driving Medical Polyoxymethylene market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution.