Polyvinyl Alcohol in Medical Market Size, Share, Growth and Industry Analysis by Type (Hydrolysis Mol 87.0 To 89.0%, And Hydrolysis Mol 86.5 To 89.0%.), By Application (Tablet Coatings, Eye, Drops, Topicals, And Others), Regional Insights, and Forecast To 2031

Updated On: 01 April 2024

Polyvinyl Alcohol in Medical Market REPORT OVERVIEW

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The global polyvinyl alcohol in medical market size was USD 100.5 million in 2022 and market is projected to touch USD 146.82 million by 2031 with a compound annual growth rate (CAGR) of 4.3% during the forecast period.

Polyvinyl alcohol is a drug. It is also known PVA, PVOH and PVAl. It is water soluble and a synthetic polymer. This is drug is colorless as well odorless. This chemical is used in many industries such as papermaking, textile warp sizing, acetate adhesive formulations, thickener, and emulsion stabilizer, variety of coatings, as well as 3D printing. Apart from all of this it is also used in medical field.

There have been a lot of changes in the market. The increasing demand for packaging sector has helped in the development of PVA market. This is considered as the latest trend in the market.

Many factors play an important role in the growth of any market. Polyvinyl alcohol is mainly used for the purpose of increasing viscosity in drugs. PVA is highly used in the optical sector of the medical industry. These factors are considered as the driving factors of the market.

COVID-19 impact: Decline in The Value of Textile Industry and Drug Market Affected the Market Growth

The pandemic of COVID-19 created many difficulties for all the industries over the world. Due to this, there was a decline in the global economy. The global Polyvinyl Alcohol in Medical Market also suffered huge losses during the pandemic period.

Polyvinyl alcohol is used in many industries. It is mainly used in the textile and drug as well as the medical market. It is also used for biochemical purposes. In the area of pharmaceutical field, it is used for the preparation of solid dispersion. This is used for improving the solubility of drugs.

Manufacturing drugs require special lab requirements and skilled specialists. Availability of raw materials also play a vey important role. Due to the drop in the sales of textile and drug industry the polyvinyl alcohol market was negatively affected.

LATEST TRENDS

"Increase In the Packaging Sector Demand to Increase Market Growth"

Many new developments are taking place in the market every day. One of the important growth drivers of the market is the increasing demand for packaging sector. With the increase in the using of packaging, the requirement for polyvinyl alcohol has also increased which can be considered as a new market trend.

Polyvinyl alcohol is a material which has high resistance to oxygen and moisture. Its resistance towards biodegradability is also high. For this reason, it is used in the packaging industry. Electronic industry also makes use of this chemical for producing devices such as transistors. The transistors require high dielectric properties and polyvinyl alcohol is suitable for this. All of this has created lucrative growth opportunities for market growth.

Polyvinyl Alcohol in Medical Market SEGMENTATION

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• By Type:

The market can be divided on the basis of type as follows:

Hydrolysis mol 87.0 to 89.0%, and Hydrolysis mol 86.5 to 89.0%. The Hydrolysis mol 87.0 to 89.0% segment will be seen dominating the market in the upcoming years.

• By Application:

Classification based on application is as follows:

Tablet  coatings, eye drops, topicals, and others, Tablet coatings dominates the industry.

DRIVING FACTORS

"Ability to Increase Viscosity of Medications to Bring Up the Market Share "

Apart from being a part of the packaging, lubricant and textile industry, these chemical plays a very important role in the medical and the drug market. Because of its use in the medical industry, it has obtained a wider scope in the market. This has been one of the major factors driving the market growth.

Polyvinyl alcohol is mainly used for the purpose of increasing viscosity in drugs as well as medications. It is also useful as a lubricant and protectant in the ophthalmic preparations and pharmaceuticals.  It is very often found in eye lubricants, eye drops, and over-the-counter eye redness ointments. It provides a good amount of moisture to our eye. By increasing the amount of moisture, the dryness decreases, and also prevents the irritation caused in our eyes. These factors are propelling global Polyvinyl Alcohol in Medical Market growth.

"Use of PVA In Optical Industry to Drive the Market Growth"

PVA is highly used in the optical sector of the medical industry. It is used in soft lenses, eye drops, artificial cartilage, meniscus, embolization particles, and tissue adhesion barriers.  PVA is used in all of the above-mentioned products, du to its characteristics and features.

Polyvinyl alcohol has low protein absorption characteristics, high water solubility, great biocompatibility, and also a good amount of chemical resistance. All of these factors have led to the increase in the global Polyvinyl Alcohol in Medical Market share.

RESTRAINING FACTOR

"High Water Solubility of Polyvinyl Alcohol to Decline Market Growth"

One of the major disadvantages of polyvinyl alcohol is that it is very easily soluble in water. Films which are prepared with the use of PVA are also very easily soluble in water. This can act as one of the major restraining factors in the growth of the market.

PVA is a plastic pollutant. It can easily contaminate water sources.  Apart from polluting the water sources, it can also pollute the soil and make it toxic. This can in turn have harmful effects on our environment. These are some of the disadvantages of polyvinyl alcohol.

Polyvinyl Alcohol in Medical Market Regional Insights

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"Asia Pacific To Dominate the Market in The Upcoming Years"

Asia Pacific is leading the market, and is also forecasted to dominate the market in the upcoming years. According to our reports, Asia Pacific holds more than one-fourth of the market share. Many factors have contributed in the growth of the market in Asia Pacific.

The increasing prevalence of eye diseases in Asia Pacific is a strong growth factor. Due to increase in the eye infections, the awareness of people to buy eye medications in this region has also grown. These factors have played a major role in increasing the market share of Asia Pacific. 

Key Industry Players

"Leading Players adopt Acquisition Strategies to Stay Competitive "

Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market.

List of Market Players Profiled

• Kuraray (Japan)
• Nippon Gohsei (Japan)
• Sekisui (Japan)
• Japan Vam & Poval (Japan)
• Jiangxi Alpha Hi-Tech (Japan)

Report Coverage

The report provides an insight into the industry from both the demand and supply sides. Further, it also gives information on the impact of COVID-19 on the market, the driving and the restraining factors along with the regional insights. Market dynamic forces during the forecast period have also been discussed for the better understanding of the market situations