As cited by 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 estimated to expand significantly over 2021-2027.
 

Rising demand for technologically advanced medical equipment across several applications, such as IV bags, stoppers, and tubing is a major factor driving global medical styrenic block copolymer (SBC) market growth.
 

Increasing research and development on enhancing physical properties of SBCs is promoting the product adoption, thereby augmenting the market development. In addition, leading players are implementing lucrative strategies to garner returns from favorable market trends, thus enhancing the market dynamics.
 

For the record, medical styrenic block copolymers (SBC) have many physical and chemical properties, such as high elasticity, strength, temperature resistance, and compatibility with polyolefins, resins, and styrenics. Due to these properties, SBCs are being widely used in the healthcare sector.
 

Based on product type, global medical styrenic block copolymer (SBC) industry is segmented into styrene isoprene butadiene (SIBS), styrene-butadiene-styrene (SBS), styrene ethylene butylene styrene (SEBS), and others. Among these, others product segment is likely to amass USD 60 million by 2027, expanding lucratively over the projected timeframe.
 

On the geographical front, Latin America market is anticipated to grow at CAGR 8.5% over the estimated timeline, owing to rising number of hospitals, along with the expanding medical tourism industry across the region.
 

Meanwhile, Middle East & Africa accounted for a market share of USD 10 million in 2020 and is speculated to expand significantly over 2021-2027, on account of increasing import of technologically advanced & innovative medical devices and equipment in the region.
 

Prominent players influencing the global medical styrenic block copolymer (SBC) industry trends are Trinseo S.A., En Chuan Chemical Industries Co. Ltd., Zeon Corporation, RTP Company, JSR Corporation, INEOS Styrolution Group GmbH, LCY Chemical Corporation, Kumho Petrochemical Co. Ltd., Asahi Kasei Corporation, Dynasol Group, LG Chem Ltd., China Petroleum & Chemical Corporation or Sinopec, TSRC Corporation, and Kraton Corporation.