MEDICAL GRADE SILICONE MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 to 2031)

Medical grade silicone is biocompatible with living tissues and is widely used in medical devices such as in prosthetics, catheter in cardiology, and others. It has gained a widespread acceptance owing to its less toxicity, hydrophobic properties, and low risk of unfavorable biological reactions. It has a wide scope of application in prosthetics, medical tapes, medical adhesives, and others.

Market Dynamics

The increasing prevalence of trauma injuries, osteoporosis, and cardiovascular diseases is a major factor driving the medical grade silicone market growth. According to World Health Organization (WHO) factsheet 2018, annually, there are around 37.3 million falls, which require medical attention, whereas an estimated 646,000 individuals die annually from falls globally. Moreover, advantages of medical grade silicone are expected to boost the market growth. Medical grade silicone are used in implants and disposable medical devices, which are less toxic and cause less problem when compared to metallic or other form of implants.

Elastomers are the most extensively used medical grade silicone and accounted for significant market share in the year 2021. The demand is fuelled by the salient properties offered by the polymers, including hypoallergenic, non-reactivity with most chemicals, high tear strength, exceptional thermal conductivity, and excellent fire resistance. Liquid silicone rubber (LSR) and high consistency rubber (HCR) elastomers are used to manufacture medical tubing, devices, and components. However, the demand for liquid silicone rubber in moulding applications is anticipated to witness significant growth as a result of low viscosity aiding the growth of intricate and complex molds over HCR.

Increasing expenditure and a greater focus on healthcare, rising construction of hospitals & clinics, and growing establishment of public health insurance are factors anticipated to augment the demand for silicone in the medical devices market in developing countries such as China, India, Thailand, Malaysia, and others. The growing aging population coupled with the rising income levels in developing countries is projected to fuel the growth of healthcare infrastructure. Furthermore, the global harmonization of standards and regulatory requirements is anticipated to help facilitate the overall growth of medical grade silicone market.

Key features of the study:

• This report provides an in-depth analysis of global medical grade silicone market, and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2022-2030), considering 2021 as the base year
• It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global  medical grade silicone market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
• Key companies covered as a part of this study include 3M Company, Albright Technologies, Avantor, Inc., Elkem Silicone, Dow Corning, FMI LLC, Momentive Performance Materials, Nusil Technology LLC, Primasil Silicones Limited, Shin-Etsu Chemical Co. Ltd., Wacker Chemie AG, and Trelleborg AB
• Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology up gradation, market expansion, and marketing tactics
• The global Medical Grade Silicone market report caters to various stakeholders in this industry including investors, suppliers,  medical grade silicone manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global  medical grade silicone market

Detailed Segmentation:

• Global Medical Grade Silicone Market, By Product Type :
  • Elastomers
    • High Consistency Rubber
    • Liquid Silicone Rubber
  • Gels
    • Soft Skin Adhesives
  • Medical Adhesives
    • Pressure Sensitive Adhesives
  • Medical Coatings
    • Hydrophobic
    • Hydrophilic
  • Others
• Global Medical Grade Silicone Market, By Application:
  • Contact Lenses
  • Medical Devices 
    • Medical Electronics, Device Assemblies & Fittings
    • Medical Rings and Gaskets
    • Catheters
    • Medical Tubes
    • Miscellaneous Accessories
  • Medical Tapes
    • Drug Delivery
    • Component Joining
    • Personal Hygiene
    • Wound Care
  • Orthopedic Components
  • Prosthetics
    • Limbs
    • Implants
  • Othersl
•  Global Medical Grade Silicone Market, By Region:
  • North America
    • By Country:
      • U.S.
      • Canada
  • Latin America
    • By Country:
      • Brazil
      • Mexico
      • Argentina
      • Rest of Latin America
  • Europe
    • By Country:
      • Germany
      • U.K.
      • France
      • Italy
      • Spain
      • Russia
      • Rest of Europe
  • Asia Pacific
    • By Country:
      • China
      • India
      • Japan
      • Australia
      • South Korea
      • ASEAN
      • Rest of Asia Pacific
  • Middle East & Africa
    • By Country/Region:
      • Middle East
      • Africa
• Company Profiles
  • 3M Company
    • Company Overview
    • Product Portfolio
    • Key Strategies
    • Recent Developments
    • Future Plans
  • Albright Technologies
  • Avantor, Inc.
  • Elkem Silicone
  • Dow Corning
  • FMI LLC
  • Momentive Performance Materials
  • Nusil Technology LLC
  • Primasil Silicones Limited
  • Shin-Etsu Chemical Co. Ltd.
  • Wacker Chemie AG
  • Trelleborg AB

“*” marked represents similar segmentation in other categories in the respective section