The global medical styrenic block copolymer market size was valued at USD 567.1 million in 2021 and is poised to grow at a CAGR of 8.3% during the forecast period 2023-2029 The primary factors that drive the market are increasing demands for SBC owing to its high flexibility, durability, and strength. Apart from this, after the COVID-19 pandemic, demand for various medical products such as bags, masks, and tubing has increased which can drive market growth in the future.

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The global medical styrenic block copolymer market segmentation:

1) By Product Type: Styrene Ethylene Butadiene Styrene, Styrene Isoprene Butadiene and Styrene-Butadiene-Styrene.

2) Application: Wound Care, Tubing, Packaging & Diagnostic Products and Medical Bags.

Styrene Isoprene Butadiene to Dominate the Medical Styrenic Block Copolymer Market:
Based on product type, styrene isoprene butadiene (SIBS) holds the highest market share. The major factor for the rise of this segment is the need for replacing metallic equipment with polymer devices. SIBS is popularly used in the medical sector because it can increase operational efficacy. It also offers high thermal, oxidative, and clinical stability which makes it suitable for manufacturing medical equipment and devices. Apart from this, SIBS is extremely biocompatible, so it is used in the production of coronary stents. Moreover, SIBS have a lower glass transition temperature which makes it thermally stable and so it can be used in steam sterilization. Thus, the use of SIBS can boost the market growth in the future.

Asia Pacific Medical Styrenic Block Copolymer Market:
Asia Pacific region is expected to grow significantly in the global medical styrenic block copolymer market over the forecast period. The Asia Pacific region is expanding as a result of a rapid increase in research and development activities in the healthcare industry, a massive patient base with increased therapeutic awareness and disposable revenue, and the development of private pathology labs. North America leads the global market due to increasing demand for medical equipment such as oxygen masks, and respiratory devices. A remarkable change has been seen in the healthcare sector of North America since the beginning of COVID-19. The pandemic has caused a rise in the demand for medical products such as ventilators, oxygen masks, and respiratory equipment.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global lateral flow assay further reveals that the key players are implementing strategies such as the extension of product collection through research and development activities, product launches, acquisitions, mergers, and strategic alliances to improve their market position and strengthen the market revenue share. In March 2021, Medical and Biological Laboratories Co. Ltd. were acquired by JSR Life Sciences to improve its drug delivery mechanism.

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Key players in the medical styrenic block copolymer market report are Kumho Petrochemical, LYC CHEMICAL Corp., Versalis S.p.A., RTP Company, Grupo Dynasol, Asahi Kasei Corporation, JSR Corporation, China Petrochemical Corporation, Ineos Styrolution Group, LG Chem Ltd., BASF SE., TSRC Corporation, Dynasol Group, and Zeon Corporation.


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