According to the report titled ‘ Medical Styrenic Block Copolymer (SBC) Market Size, Share and Industry Analysis Report by Product (SBS, SIBS, SEBS) and Application (Tubing, Medical Bags, Equipment, Packaging & Diagnostics Products, Wound Care), Regional Outlook, Application Development Potential, Competitive Market Share & Forecast, 2021 – 2027’, available with MarketStudyReport, global medical styrenic block copolymer market is expected to garner strong returns during the forecast period 2021-2027.
 

Rising demand for technologically advanced medical equipment for several applications like IV bags, stoppers, oxygen masks, respiratory and stoppers, in consort with rapid development of the healthcare & medical sector are promulgating global medical styrenic block copolymer market growth.
 

Further, rising emphasis on reducing PVC to mitigate health concerns and increasing R&D activites towards enhancing the physical characteristics of SBCs are positively affecting the industry, claims the study. 
 

For the unversed, styrenic block copolymers (SBC) are elastomers that are temperature resistant, compatible with resins, and have high elasticity, making them ideal for the healthcare sector. 
 

Based on product type, the market is split into SBS, SIBS, SEBS, and others. The others segment is estimated to amass a valuation of USD 60 million during the forecast period.
 

From a regional standpoint, Latin America medical styrenic block copolymer market is poised to record 8.5% CAGR during the assessment timeframe owing to the widely expanding medical tourism industry and increasing number of hospitals in the region. 
 

Meanwhile, Middle East & Africa market, valued at USD 1 million in the year 2020, is predicted to exhibit a robust growth rate during the analysis period given the surging import of innovative & advanced medical technology and equipment in the region. 
 

Elaborating on the competitive landscape, Trinseo S.A., Kraton Corporation, En Chuan Chemical Industries Co., Ltd., TSRC Corporation, Zeon Corporation, China Petroleum & Chemical Corporation, RTP Company Suzhou Co, Ltd., LG Chem Ltd., JSR Corporation, Dynasol Group, Ineos Styrolution Group GmbH, Asahi Kasei Corporation, LCY Chemical Corporation, and Kumho Petrochemical Co., Ltd. are the major players influencing the competitive trends in global medical styrenic block copolymer market.
 

The aforementioned companies undertaking various strategies such as new product development, partnerships, and acquisitions to improve their position. For instance, LCY Chemical Corp in January 2021 launched a novel styrene-ethylene-butylene-styrene (SEBS) block polymer with ultra-high molecular weight for automotive, medical, TPE compounding, and adhesive applications.
 

Citing another major development, JSR Life Sciences, LLC completed the acquisition of Medical and Biological Laboratories Co. Ltd. to expedite its medical advancements and enhance its drug discovery support field.