Global Medical Grade Silicone Market – A Novel Approach in Prosthetics and Orthopedics
Medical grade silicone play a major role in advanced healthcare, as they are ideal choice for implantable and disposable medical devices, which require high performance and safety standards when intended to be used in human body.
The global medical grade silicone market size was valued at US$ 1,117.8 million in 2017, and is expected to exhibit a CAGR of 6.3 % over the forecast period (2018 – 2026).
Figure 1. Global Medical Grade Silicone Market Value (US$ Mn), by Region, 2017
Source: Coherent Market Insights Analysis (2018)
Increasing incidence of osteoporosis is expected to propel growth of the medical grade silicone market
Medical grade silicone is available in various types such as elastomers, gels, medical adhesives, medical coatings, and others. Instruments including medical grade silicone find its usage in defibrillators, heart pumps, and surgical reconstructive components, owing to biocompatibility and hydrophobicity properties of the material. Moreover, high prevalence of osteoporosis is expected to propel demand for prosthetics and orthopedics, which in turn is expected to drive the market growth. According to the National Center for Biotechnology Information (NCBI), March 2016, an estimated 8.9 million fractures are caused annually by osteoporosis worldwide, affecting around 200 million women across the world.
Moreover, increasing incidences of trauma associated with skeletal injuries is boosting growth of the medical grade silicone market over the forecast period. According to the World Health Organization (WHO) factsheet 2018, road accidents cause around 20 and 50 million injuries annually around the world. Road traffic injuries are the leading cause of death among people aged between 5 and 29 years, and over 1.35 million people die each year as a result of road traffic crashes, globally.
Figure 2. Global Medical Grade Silicone Market Share (%), by Material Type, 2018 and 2026
Source: Coherent Market Insights Analysis (2018)
Increasing prevalence of cardiovascular diseases in North America is expected to bolster the market growth
North America holds dominant position in the global medical grade silicone market, owing to high prevalence of cardiovascular diseases in the region. According to the American Heart Association, 2016, cardiovascular diseases accounted for around 17.3 million deaths annually worldwide, where an estimated 23.3 million people are expected to die from cardiovascular disease by 2030.
Moreover, increase in geriatric population in this region is expected to propel demand for orthodontics and prosthetics, which in turn is expected to bolster the market growth over the forecast period. According to the Centers for Disease Control and Prevention (CDC) report, 2017, around 6.6 % rise in dental visits was registered in the U.S. from 2010 to 2016.
Moreover, key players in the market are focused on receiving the U.S. Food and Drug Administration (FDA) approval for novel products to treat patients. For instance, in August 2016, Avantor Performance Materials and NuSil Technology LLC merged through an agreement. This agreement is expected to strengthen the company portfolio and create high purity materials for lifesciences.
Major players operating in the global medical grade silicone market include 3M Company, Albright Technologies, Elkem Silicone, Dow Corning, FMI LLC, Momentive, Nusil Technology LLC, Primasil Silicones Limited, Shin-Etsu Chemical Co. Ltd., and Wacker Chemie AG.
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 wide scope of application as prosthetics, medical tapes, medical adhesives, and others.
Increasing prevalence of trauma injuries, osteoporosis, and cardiovascular diseases is a major factor driving 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.
Silicone is widely used in catheters, however, they pose a serious drawback due to their poor tear strength and poor resistance to fatigue, resulting in high failure rate associated with breast implants. Also, in September 2018, the Food and Drug Administration (FDA) received around 660 medical device reports (MDRs) for breast implant associated with anaplastic large cell lymphoma, where around 60% cases were caused due to silicone based breast implants.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section.
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