The medical styrenic block copolymers (SBC) market is set grow significantly by 2027 on account of surging demand for sophisticated and technologically advanced medical equipment across various applications, such as IV bags, tubing, and stoppers, among others.

Styrenic block copolymers (SBC) possess a wide range of physical and chemical properties, such as high elasticity, temperature resistance, strength, and compatibility with resins, polyolefins, and styrenics. Owing to these properties, SBCs have gained massive prominence in the healthcare sector. Moreover, surging R&D focus on enhancing the physical properties of SBCs has facilitated product adoption worldwide.

Furthermore, key industry participants are engaging in lucrative business strategies to profit from favorable market trends globally, which has enhanced market dynamics. For instance, in January 2021, LCY Chemical Corp., a leading producer of styrenic block copolymers (SBC) and polypropene, launched a novel styrene-ethylene-butylene-styrene (SEBS) block polymer with ultra-high molecular weight dubbed GLOBALPRENE GP7533 for automotive, medical, TPE compounding, and adhesive applications.

The innovative SEBS block copolymer exhibits superior functional qualities, such as better oil retention, broader hardness range, less fogging, higher service temperature, and ease in production, among others. These improved physical properties have allowed widespread industrial application of GLOBALPRENE GP7533.

In another instance, in March 2021, JSR Life Sciences, LLC, a JSR Corporation business unit, completed the acquisition of Medical and Biological Laboratories Co. Ltd. (MBL), a key provider of clinical diagnostics reagents headquartered in Japan. The acquisition was intended to support JSR’s medical advancements and improve its drug discovery support field. As a result, lucrative strategies adopted by prominent global enterprises have augmented market development in key regions across the globe.

The medical styrenic block copolymers (SBC) market has been categorized on the basis of product, application, and region. Based on product, the market has further been segmented into styrene-butadiene-styrene (SBS), styrene isoprene butadiene (SIBS), styrene ethylene butylene styrene (SEBS), and others. The medical styrenic block copolymers (SBC) market from the others product segment is expected to reach a valuation of more than USD 60 million by the end of 2027, growing at a robust pace over the forecast period.

From the regional point of view, the Latin America medical styrenic block copolymers (SBC) market is anticipated to observe notable growth by 2027, expanding at a CAGR of approximately 8.5% over the assessment timeline. Increasing number of hospitals, coupled with the growing medical tourism industry in LATAM, is likely to bolster product demand in the region through the projected period.

The Middle East & Africa medical styrenic block copolymers (SBC) market was valued at around USD 10 million in 2020 and is speculated to progress at a steady pace over 2021-2027. Rising import of technologically-advanced and innovative medical devices and equipment in MEA is expected to foster regional market growth in the future.