According to the research 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 (SBC) market is expected to amass notable gains during 2021-2027.
 

Increasing demand for technologically advanced and sophisticated  medical equipment across various applications like stoppers, tubing, IV bags etc. and the beneficial properties associated the product like high elasticity, strength, temperature resistance, and compatibility  with styrenics, polyolefins, and  resins are propelling the growth of global medical styrenic block copolymer market.
 

In addition, rising focus R&D activities to improve the physical properties of SBCs along with the growing emphasis of the major players on building robust strategies to strengthen their mark are further augment the overall industry outlook.
 

Speaking of negatives, stiff performance-based competition between SBC and PVC-based medical equipment along with fluctuating manufacturing expenses are likely to hamper the remuneration scope of the industry.
 

Global medical styrenic block copolymer (SBC) market is segmented on the basis of product ambit and application spectrum. Based on product type, the others segment is anticipated to accumulate USD 60 million by the end of the forecast duration.
 

The application scope of this business space involves wound care, packaging & diagnostics products, equipment, medical bags, and tubing.
 

Regionally speaking, Latin America medical styrenic block copolymer industry is slated to exhibit a CAGR of 8.5% over the study period, owing to rising number of hospitals and rapid surge in medical tourism.
 

Meanwhile, Middle East & Africa market was valued at USD 10 million in 2020 and is projected to expand significantly during 2021-2027, accreditable to increasing import activities of advanced and innovative medical devices as well as equipment in the region.
 

Major players like Trinseo S.A., En Chuan Chemical Industries Co. Ltd., Zeon Corporation, RTP Company Inc., JSR Corporation, INEOS Styrolution Group GmbH, LCY Chemical Corp., Kumho Petrochemical Co. Ltd., Asahi Kasei Corporation, Dynasol Group, LG Chem Ltd., China Petroleum & Chemical Corporation, TSRC Corporation, and Kraton Corporation are profiled in medical styrenic block copolymer (SBC) market report.