Smart polymers are stimuli-responsive polymers, which change characteristics based on environment that they are in. Also known as intelligent materials, these polymers are finding application in various purposes for its responsiveness to temperature, light, and pH, besides being resilient to abrasion or chemicals. In the recent past, the application of smart polymers has extended beyond biomedical field as conveyance system of therapeutic agents and bio-separation devices to cell culture support systems and tissue engineering. The industries of pharmaceuticals, treatment, and implant are utilizing smart polymers’ compatibility and adaptability properties to treat the immune system. With this growing application in various fields, the demand in the global smart polymers market is projected to expand at a healthy CAGR during the forecast period of 2016 to 2026.
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This report on the global market for smart polymers is an all-inclusive study of the current scenario and based on thorough analysis of all the factors that may influence the demand in the near future, it estimates the state of the market until 2026. The report is meant for audiences such as the manufacturers and vendors of smart polymers as well as research institutes indulged in the development of new products in this field. Several leading companies in the smart polymers market have also been analyzed for their market share, products, and recent strategic decisions.
By type, the global smart polymers market can be segmented into physical, biological, and chemical while application-wise, the market can be bifurcated into biomedical and biotechnology including drug delivery, tissue engineering, bioseparation and biocatalyst, automotive, textile, electrical and electronics, and nuclear energy including radiation detection and waste treatment. Geographically, the report explores the potential of smart polymers market in various regions including Asia Pacific, North America, Latin America, Europe, and the Middle East and Africa.
Global Smart Polymers Market: Trends & Opportunities
Several factors are positively influencing the demand in the global smart polymers market, including the use of controlled drug delivery, application shape memory polymer in the automotive industry, growing middle-class income in the emerging economies, the growing need for efficient technologies over the existing ones, promising application of smart polymers in biomedical field, and its property of reversible phase transitions. However, transformations in the healthcare industry and concerns pertaining to the use of smart polymers are expected to hinder the growth rate to a certain extent during the forecast period. Expanding application of smart polymers for various purposes, growing need to escalate drug delivery system, and increasing interest in immune system are some of the trends for the players in this market to concentrate on.
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Application-wise, the segment of drug delivery systems continues to serve the maximum demand for smart polymers, gaining from their physicochemical properties of useful changes based on environmental conditions and advancements in dosage techniques. Moreover, pharmaceutical dose formulations are now increasingly using smart polymers as lattice, which will further boost the demand for this segment.
Global Smart Polymers Market: Regional Outlook
Out of all regions, North America contributes nearly the half of the demand for smart polymers, which is attributed to the growing focus on pH and temperature sensitive polymers, and governmental efforts to improve public healthcare systems.