The global smart polymers market is anticipated to gain momentum with large number of applications created due to the property of reversible phase transitions. Biomedical is one of the prominent applications of smart polymers. Rising requirement of more efficient technologies compared to the current ones are foreseen to help boost the demand in the market. A report by Transparency Market Research (TMR) digs deep into critical growth factors and other aspects of the market. It is titled “Smart Polymers Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2026.”
Improving revenue of the middle-income population group could be another factor supporting growth in the world smart polymers market. Demand from the automotive industry and use of controlled drug delivery are also expected to help the market to attain growth in the coming years. However, the market is foreseen to face challenges due to concerns regarding the use of smart polymers and changes in the healthcare industry. Nonetheless, players could cash in on rising interest in improving the immune system and increasing need to enhance drug delivery system to increase their share of the market. Moreover, expanding application of smart polymers for different purposes is foretold to keep hopes alive in the market.
On the basis of type, the international smart polymers market is forecasted to see a classification into chemical, biological, and physical segments. In terms of application, there could be segments such as waste treatment and radiation detection, nuclear energy, electrical and electronics, textile, automotive, biocatalyst and bioseparation, tissue engineering, drug delivery, biotechnology, and biomedical. In order to treat the immune system, implant, treatment, and pharmaceutical domains are observed to use adaptability and compatibility properties of smart polymers. Application of smart polymers could be extended to cell culture support systems, bio-separation devices, and therapeutic agents’ conveyance system, i.e. beyond the scope of the biomedical sector.
Close to half of the demand in the international smart polymers market could be sponsored by North America. This could be on account of government initiatives to bring improvements in public healthcare systems and rising focus on temperature and pH-sensitive polymers. Players operating in the global market could look to take advantage of new avenues opening up from various biomedical applications. There could be a large focus on formulating customized smart polymer products and cementing distribution networks for maintaining a strong foothold in the market. Some of the leading players of the market are Autonomic Materials, Dow, Huntsman, and AkzoNobel.
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The report gives a broad account of the competitive landscape and how it could take shape in the near future. It offers a clear picture of the market by analyzing key growth factors, restraints, and trends and opportunities.