North America Medical Polyoxymethylene Market Growth Opportunities and Forecast by 2028

The medical polyoxymethylene market in North America is expected to reach US$ 15,130.52 thousand by 2028 from US$ 10,319.82 thousand in 2020. The market is estimated to grow at a CAGR of 4.9% from 2020 to 2028.

The US, Canada, and Mexico are economies in North America. Healthcare-associated infections (HCAI) or nosocomial infections are the infections associated with the equipment and devices, such as catheters or ventilators, used during medical procedures. Over the period, there has been rising prevalence of HCAI diseases, which has become a serious concern among various economies. For instance, according to National Center for Biotechnology Information, it has been estimated that almost 2 million patients in the US suffer from HCAI annually, out of which ~98,000 people die.

The US has the highest number of confirmed cases of coronavirus, among all key countries in the region. This is negatively impacting the chemical and materials industry in the region due to the impact of the COVID-19 pandemic on supply and distribution chains. 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. With the projected rise in the importance of advanced medical equipment and application diversification in post-pandemic times, the demand for medical polyoxymethylene is expected to take huge leaps. Therefore, effective measures taken by such associations, backed by positive government initiatives, to support medical industry is expected to generate the demand for medical polyoxymethylene in the coming years. Further, significant investments by prominent companies in the development of advanced products is, yet, another factor supporting the market growth across North America 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 North America medical polyoxymethylene market. The North America medical polyoxymethylene market is expected to grow at a good CAGR during the forecast period.

North America Medical Polyoxymethylene Market Segmentation        

North America Medical Polyoxymethylene Market – By Application

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

North America Medical Polyoxymethylene Market - By Country

• US
• Canada
• Mexico

North America 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.

North America Medical Polyoxymethylene Report Scope