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Medical Grade Silicone Market Size By Form (Gel, Rubber, Foam, Sheet, Block), By Application (Respiratory Devices, Medical Device Components, Implants, Orthopedic Products), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 - 2028

  • Report ID: GMI5184
  • Published Date: Jan 2022
  • Report Format: PDF

Industry trends

Medical Grade Silicone Market size exceeded USD 1.3 billion in 2021 and is anticipated to grow at a CAGR of 6% from 2022 to 2028. Continuously surging patient population due to rising number of road accidents will positively impact the market growth. Furthermore, increasing chronic disorders such as cardiovascular diseases, osteoarthritis, congenital disorders, and neuropathic diseases is predicted to boost the demand for medical grade silicone components, thereby augmenting the industry growth.
 

Medical Grade Silicone Market Overview

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COVID-19 pandemic minimally impacted the market during the initial breakdown attributed to hindrance in supply chain and scarcity of workforce. Restrictions imposed by the government has slowed down the supply chain and distribution network of various companies to some extent. However, the supply resumed in the second half of 2020. COVID-19 pandemic may pose a risk to several small companies in the underdeveloped and developing regions. Also, a decline in the treatment for non-COVID-19 emergency procedures has also negatively impacted the overall demand for medical grade silicone.
 

Increasing demand for medical grade silicone in prosthetics & orthopedic application will stimulate the market expansion

The increasing demand for medical grade silicone in prosthetic and orthopedic are one of the major factors that is driving the market progression. This is owing to silicone is considered as an excellent material for prosthetics and orthopedic devices because of its light weight and attractive appearance. Moreover, medical grade silicones are used for manufacturing orthopedic and prosthetics devices due to their elasticity, skin-like texture, flexibility, physical properties of chemical inertness, and thermal & dimensional stability.
 

Medical grade silicone elastomers broadly used in replacement of damaged body parts such as small joints and other orthopedic components. Increasing technological advancement in prosthetic and orthopedic application such as computer-aided design (CAD) and computer-aided manufacturing (CAM) dentistry for enhancing the dental restoration and design will further accelerate the demand for medical grade silicone, thereby impelling the market value.
 

Rubber segment to dominate the medical grade silicone space

The rubber segment accounted for 45% of the medical grade silicone market share in 2021. Silicone rubber has several properties including biocompatibility, chemical and bacterial resistance, resistance to high temperatures and clarity that attract healthcare device providers. These characteristics are important when it comes to the production of high-accuracy medical devices components. As a result, medical grade silicone rubber is in high demand. In addition, rubber has the ability to be sterilized, self-adhesive and water repellence. Medical grade silicone rubber is used to manufacture several medical devices including catheters, rings, closures, cushioning pads, gaskets, and is also widely used in the manufacture of pacemakers and artificial joints.

 

Rising use of medical grade silicone in manufacturing medical device components will foster the market demand


Medical Grade Silicone Market Size

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The medical device components segment valued at USD 499.5 million in 2021 led by the rising use of medical grade silicone in innovation and manufacturing of medical device components. Moreover, medical grade silicone components such as orthopedic components are made of medical grade silicone for long-lasting support and comfort. Silicone is non-toxic, has high strength, and excellent shock absorption. It helps to relieve pain and discomfort by reducing the impact and force on the heels, joints, and back.
 

Medical grade silicone is used in long-term medical implants in orthopedic surgeries. Medical grade silicone is used to replace worn-out small joints as well as other orthopedic components such as foot and ankle supports, knee and elbow braces, cervical collars, hip supports and back supports and braces.
 

Growing Chronic disorders in North America to enhance the market revenue

North America Medical Grade Silicone Market

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North America medical grade silicone market captured over 20.5% of revenue share in 2021 impelled by the presence of well-developed healthcare facilities in this region and rising prevalence of cardiac arrests and diabetes has resulted in increased healthcare spending. Additionally, growing patient population as a result of the COVID-19 outbreak at the community level is expected to increase the demand for different medical components, including medical grade silicone rubber in the U.S., thereby propelling the industry progression. Furthermore, the presence of major market player such as Wacker Chemie AG, Dow Corning, and Momentive Performance Materials Inc., in the region is estimated to positively impact the industry demand during the forecast timeline.
 

Market is flooded with several global companies offering similar products

Some of the prominent companies operating in the market include Avantor, Inc., BioPlexus, LLC, Dongguan City Betterly New Materials Co., Ltd., Primasil Silicones Limited, Shin-Etsu Chemical Co., Ltd. STOCKWELL ELASTOMERICS, INC., Wacker Chemie AG, DuPont, Momentive Performance Materials (KCC Corporation), Elkem ASA. These market participants are implementing various growth strategies to sustain market competition.

 

The medical grade silicone market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2017 to 2028, for the following segments:

Market, By Form, 2017-2028 (USD Million)

  • Gel
  • Rubber
  • Foam
  • Sheet
  • Block
  • Others

Market, By Application, 2017-2028 (USD Million)

  • Respiratory Devices
  • Medical Device Components
  • Implants
  • Orthopedic products
  • Others

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Russia
  • Asia Pacific
    • Japan
    • China
    • India
    • Australia
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • UAE
       
Authors: Sumant Ugalmugle, Rupali Swain

Frequently Asked Questions (FAQ) :

The market size of medical grade silicone surpassed $1.3 billion in 2021 and is predicted to register 6% CAGR over 2022-2028.

Rubber-based medical grade silicone captured 45% of market share in 2021 as silicone rubber is being widely used in the healthcare sector due to features, such as chemical & bacterial resistance, biocompatibility, resistance to high temperature, and clarity, among others.

Medical devices captured a share worth $499.5 million in 2021, as advanced medical grade silicone-based orthopedic instruments offer long-lasting support and comfort to patients and possess excellent shock absorption as well as strength.

North America market captured more than 20.5% of revenue share in 2021 as there is a strong presence of innovative healthcare facilities and the cases of cardiac arrests and diabetes are rising at an alarming rate in the region.

Reputed companies, such as BioPlexus, Avantor, Inc., Primasil Silicones Limited, Wacker Chemie AG, STOCKWELL ELASTOMERICS, INC., DuPont, Elkem ASA, and Momentive Performance Materials (KCC Corporation), among numerous others, are producing high-quality medical grade silicone products for their clients across the world.

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Premium Report Details

  • Base Year: 2021
  • Companies covered: 10
  • Tables & Figures: 144
  • Countries covered: 18
  • Pages: 145

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