October 10, 2023 11:00 ET | Source: Emergen Research Emergen Research
Vancouver, Oct. 10, 2023 (GLOBE NEWSWIRE) -- The global medical Polytetrafluoroethylene (PTFE) market size is expected to reach USD 671.9 Million in 2032 and register a steady revenue CAGR of 3.9% over the forecast period, according to the latest analysis by Emergen Research. Increasing use of PTFE in drug delivery systems and rising demand for PTFE in the chemical processing sector are key factors driving market revenue growth. PTFE is a fluorocarbon solid made from the polymerization of Tetrafluoroethylene (TFE) monomer, which is often utilized in corrosive and reactive chemical pipework and containers. Biomimetic materials have become appealing and competitive options in the field of Tissue Engineering (TE) and regenerative medicine. Wound Dressing Pack
This rising demand for biomimetic materials has led to an increased need for medical PTFE. These materials provide cells with a wide range of biochemical and biophysical signals that closely resemble the natural Extracellular Matrix (ECM) found in living organisms. In addition, biomimetic material possess the ability to adapt to mechanical stresses, exhibit interconnected microstructures, and inherently promote biological activity, making PTFE well-suited for designing living implants tailored to specific TE and regenerative medicine applications. PTFE is widely used in implants and various medical devices due to their exceptional biocompatibility and inertness. Moreover, PTFE finds applications in conditions or injuries affecting blood vessels, heart, jawbone, nose, eyes, and abdominal walls.
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However, rising competition from alternative materials such as Ethylene Tetrafluoroethylene (ETFE) is a key factor, which could restrain market revenue growth. ETFE surpasses PTFE in terms of biocompatibility, reducing the likelihood of causing inflammation or other undesirable reactions within the body. ETFE has greater flexibility compared to PTFE, making it more manageable for shaping and crafting into medical devices, with a tensile strength of around 42 MPa (6100 psi). In addition, operational temperature range of ETFE is sufficiently broad for medical applications, spanning from −185 °C to +150 °C.
Moreover, Ethylene Tetrafluoroethylene (ETFE) offers significant advantage of being 100% recyclable, a highly favorable characteristic as responsible disposal is a paramount concern. Non-recyclable and non-biodegradable materials only contribute to pollution and environmental litter. The production process of ETFE also relies on a water-based approach, eliminating the need for chemical solvents or petroleum derivatives, which is a positive environmental aspect.
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Major Companies and Competitive Landscape
The global medical Polytetrafluoroethylene (PTFE) market is fragmented, with many large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective database security. Some major players included in the global medical Polytetrafluoroethylene (PTFE) market report are:
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Some Key Highlights From the Report
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For the purpose of this report, Emergen Research has segmented the global medical Polytetrafluoroethylene (PTFE) market based on procedure product type, application, end-use, and region:
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