Blood Compatible Polymers Market Size, Share, Industry, Forecast and outlook (2024-2031)

Global Blood Compatible Polymers Market is segmented By Surface (Super-hydrophilic surface, Micro-phase-separated domain surface, Bio membrane-like surface, Bioactive-molecules incorporating surface), By Type (Polypropylene, Polyethylene, Polysulfone, Polyetheretherketone, Polytetrafluoroethylene, Polyvinylchloride, Polyethersulfone, Poly (methyl methacrylate), Others), By Application (Intraocular lens, Vascular grafts, Artificial hip joints, Substitute heart valves, Chitra heart valves, ventricular assist devices, Others), By End User (Drug delivery system, Tissue engineering, Bio-medical, Blood contacting devices), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031

Blood Compatible Polymers Market Overview

The report on global blood-compatible polymers market shares, size, recent trends, future market outlook, and competitive intelligence. Blood-compatible polymer usage in drug delivery systems is on the rise. Demand for clinical dental applications in ‘The Asia Pacific’ is rising. The competitive rivalry intensifies with Baxter International Inc., Eastman Chemical Company, and others active in the market.

Blood compatibility can be characterized as the property of a material or device that grants it to work in contact with blood without actuating adverse reactions. The use of different polymers, both synthetic and natural, for biomedical purposes has gained such enormous progress during the most recent twenty years that a variety of biomaterials and blood-contacting devices are currently being utilized in cardiovascular, muscular, and dental applications all over the world. Implantation of heart valves, catheters, and so on has become pretty much a standard undertaking in a cardiovascular medical procedure. The vast majority of these gadgets are manufactured from polymers, and the fundamental prerequisites for growing a particularly biocompatible polymer are exceptionally rigid. It must be sterilizable, nontoxic, effectively fabricable, and resistant to mechanical strains, it should not produce allergy or hypersensitivity, not impel any inflammatory reaction, and it also should not degrade chemically.

The healthcare sector is a significant market for Blood Compatible Polymers. The pharmaceutical and biomedical industries drive the blood-compatible polymers market. They have substantial benefits over other biomedical gadgets and have been widely utilized throughout recent years. Blood-compatible polymers should have a particular composition of different polymers. Many of the procedures are brought into the application to acquire polymers' desired properties to make them blood compatible.

Blood Compatible Polymers Market Summary

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Increasing demand for artificial organs is expected to drive market growth during the forecast period.

With expanding interest in artificial organs which are used in contact with blood to fill in for different body functions like circulation, the disposal of waste, and gas exchange, biomaterials with solid antithrombogenicity have been enormously required. When in contact with blood, artificial surfaces, for the most part, induce platelet adhesion and subsequent activation, which can prompt thrombus formation accompanied by the development of an insoluble fibrin network. Subsequently, one promising path for making material surfaces with thromboresistant properties is the design of surfaces eliminating adhering platelets' activation process. According to research, there has been a high rise in pacemakers' demand; moreover, it is expected to increase significantly between 2016 and 2023. Pacemakers are essential life-saving implantable devices for individuals living with certain heart conditions. It was estimated that there were about 1.14 million pacemakers globally in 2016, and by 2023, this number is expected to increase to 1.43 million units.

Rising demand for clinical dental applications will likely drive market growth during the forecast period.

Over the last few decades, polymeric materials for clinical dental applications have been created with unique properties and different functionalities. Dental composite resins are common materials used to reestablish the structural integrity of teeth. The material used to manufacture the dental replacement base is an acrylic sap produced using a combination of methyl-methacrylate (MMA) and poly (methyl methacrylate) (PMMA). Polymethyl methacrylate (PMMA) is commonly used for prosthetic dental applications, including the fabrication of artificial teeth, denture bases, dentures, obturators, orthodontic retainers, temporary or provisional crowns, and the repair of dental prostheses. According to a report, the market revenue of PMMA in 2015 in the U.S. was nearly around 427 million U.S. dollars, and it is projected that by 2025, the market revenue of PMMA will be some 777 million U.S. dollars.

Raising environmental concerns is likely to hinder the market growth during the forecast period.

One key reason hindering the market growth is the rising environmental concerns among humanity for preserving nature's likelihood. Birds are very susceptible to toxicity by PTFE. Teflon toxicosis is known as exposed lungs begin to hemorrhage and fill up with fluid, drowning the bird from the inside (Green Living Tips, 2018). The most significant concern in the discussion of poisonousness and PTFE is the presence of PFOA, which is utilized in the creation of PTFE. PFOA additionally doesn't separate and taints everything as well. According to research, Scientists who conducted a report on PFOA found it present in the blood of 96% of all the hundreds of children tested (Green Living Tips, 2018); moreover, fluorinated polymers such as PTFE release TFA in large amounts at high temperatures, and it enters the atmosphere and comes down to earth in rainwater (SCIENTIFIC AMERICAN, 2018). On burning, PTFE releases very toxic gases into the atmosphere, so the dumps are the worst possible places for the PTFE to end up, and the recycling process for PTFE is way too expensive and very much specialized.

Blood Compatible Polymers Market Segmentation Analysis

By surface, the market is segmented into the super-hydrophilic surface, micro-phase-separated domain surface, bio membrane-like surface, and bioactive molecules incorporating surface. By application, the market is segmented into Intraocular lenses, Vascular grafts, Artificial hip joints, Substitute heart valves, Chitra heart valves, ventricular assist devices, and others. By end-user, the market is segmented into drug delivery systems, tissue engineering, bio-medical and blood-contacting devices. By type, the market is segmented into polyethylene, polypropylene, polysulfone, polyetheretherketone, polytetrafluoroethylene, polyvinylchloride, polyethersulfone, poly (methyl methacrylate), and others. Polypropylene is generally utilized in clinical applications today due to its high chemical and bacterial resistance; moreover, medical-grade PP exhibits good resistance to steam sterilization. Disposable syringes are the most common medical application of polypropylene. According to a report by Statista, Polypropylene is the world's second-largest plastic resin based on production volume after polyethylene. The global production volume of polypropylene in 2018 amounted to 56 million metric tons, and by 2026, it is forecast that production will amount to 88 million metric tons.

Blood Compatible Polymers Market Geographical Share

The Asia Pacific dominates the market for Blood Compatible Polymers due to the growing demand in the medical industry. Increasing pollution is a critical factor for the medical industry's growth due to rising cardiovascular diseases across the region. Heart failure (HF) is a major global public health problem, and it is very prominent in Asian countries. Heart disease is the leading cause of death globally - causing one-third of deaths in 2019 -and the death count continues to rise. China had the most elevated number of coronary illness passings a year ago, trailed by India, Russia, the United States, and Indonesia.

Next to Asia-pacific, North America, and South America are the regions seeking high market growth in the forecast period. Cardiovascular infections (CVD) are the primary sources of death in the Americas, representing 33.7% of total death rates, with higher mortality esteems in Guyana, Trinidad and Tobago, and Venezuela. In any event, 48% of U.S. grown-ups have some cardiovascular infection, based on the American Heart Association's latest statistics. Moreover, the recent advancements in the medical industry in the region favor the growth of the market in the forecast period.

Europe is also expected to witness the fastest-growing blood-compatible polymer market due to the increasing demand of the medical industry and high technological advancements.  Spain has been a leading country in performing successful heart transplants. By 2020, the number of successful heart transplants performed in Spain reached to 278cases. These are the key regions seeking.

Blood-Compatible Polymers Market Companies and Competitive Landscape

The Blood Compatible Polymers market is fragmented with the presence of regional and global players. The competitive contour lies with the increase in the regional company and growing investment in upstream applications. Baxter International Inc., Eastman Chemical Company, Evonik Industries AG, Sanofi, AdvanSource Biomaterials Corporation, TOPAS Advanced Polymers GmbH, Mitsui Chemicals, BASF SE, Exxon Mobil Corporation, Lyondell Basell Industries, Reliance Industries Limited, Sinopec are the major player in the market. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, contributing to growing the Blood Compatible Polymers market globally.

BASS

It is a German multinational chemical company and the largest chemical producer in the world. BASF manufactures and markets the ever-in-demand polyether polyols (PEOL) under the brand names, Lupranol® and Plural. With changes in the outer climate, for example, the COVID-19 pandemic, there are considerably even stronger societal needs for health and well-being. While reacting quickly to these changes, they plan to provide products that improve personal satisfaction and quality of life. According to a report, BASF has designed to invest in expanding the polyurethane dispersion business in water-based polyurethane dispersions at its Castellbisbal site in Spain. This expansion will not only allow BASF to increase its production capacity by 30 percent but also meet the rising demand for polyurethane dispersions.