2021 Medical Styrenic Block Copolymer (SBC) Market Growth | Trends Analysis Repo

1. Medical Styrenic Block Copolymer (SBC) Market to at over 8% CAGR from 2021 to 2027: Global Market Insights, Inc. Global Market Insights Inc.

2. Overview of Medical Styrenic Block Copolymer (SBC) Market • The explosive growth of the global population and their changing lifestyles have considerably increased the prevalence of cardiovascular disorders, lifestyle diseases like diabetes and hypertension, and other chronic ailments in the last few years. According to research by the Center for Disease Control and Prevention, every 6 in 10 adults in the United States have a chronic disease. • It is one of the leading causes of death and disability in adults and contributes nearly USD 3.8 Trillion to the nation's annual health care costs. • This alarming growth of the global disease burden has significantly pushed the demand for well-established healthcare infrastructure, which will passively influence the expansion of the medical styrenic block copolymer (SBC) industry in the forthcoming years. Global Market Insights Inc.

3. Continue… • A notable surge in the number of medical interventions and the shifting trends towards remote monitoring over the previous decade have accelerated the use of medical SBCs. These products are deployed in several surgical instruments, blood bags, connector tubes, and portable medical devices. • Based on a recent report by Global Market Insights Inc., the global medical styrenic block copolymer market size may surpass a valuation of USD 920 million by 2027. • As per the data by the World Health Organization, nearly 235 million people across the globe suffer from asthma, while over 3 million people die from COPD each year, constituting almost 6% of the total deaths. Out of which, more than 90% of deaths occur in middle or low-income countries.  Global Market Insights Inc.

4. Continue… • Data by CDC depicts nearly 5% of adults in the US have been diagnosed with chronic bronchitis, emphysema, or COPD sometime in their life. • Since styrenic polymers are used in respiratory devices, oxygen masks, ventilators, and other specialized medical equipment associated with the treatment, the prevalence of these diseases will propel the industry outlook in the coming years. • Over the years, there has been a substantial rise in the incidences of blood transfusion and diagnostic procedures worldwide. According to the World Health Organization, around 118.4 million blood donations are collected each year worldwide. • These require blood bags that keep the sample properly sterilized, prevent any leakage and disease spread, and eliminate any risk of infection in the premises Global Market Insights Inc.

5. Continue… • Government regulations in several economies to promote the invariant implementation of consistency and standards in the safety and quality of blood and blood products will augment the SBC industry forecast in the future. • With a view to providing their customers with a broader spectrum of innovative products while adding the capability to serve a myriad range of end markets, industry players are pouring in efforts and are adopting strategies to strengthen their market position. • As part of this, in December 2021, DL Chemical Co. Ltd completed the acquisition of Kraton Corp.'s 100% stake worth USD 1.6 billion to cement its leading role in the global petrochemical industry. The deal will expand the reach of Kraton Corp.'s product offerings. and provide a wide forum for further investment. Global Market Insights Inc.

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