Medical Processing Seals (MPS) Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI4100
Medical Processing Seals (MPS) Market size will experience a substantial growth in Asia Pacific owing to its importance in medical device applications over the forecast timeframe. The growing investment in healthcare industry driven by the ever-increasing population will be main drivers of business growth over the forecast duration.
The medical device business and general healthcare investment are remarkably growing in North America, particularly, in the U.S. According to the U.S. Department of Commerce, in 2017, the U.S. was the leading global player in the medical industry. The country’s medical device market shall grow from USD 156 billion in 2017 to USD 208 billion by 2023. It indicates the growing medical device market in the region, which will subsequently propel product demand in the coming years.
The MPS market may experience hindrance over regulatory issues faced by nitrile rubber owing to its composition. Nitrile rubber is a common material used in O-rings, has the possibility to crack when exposed to ozone and is speculated to contain phthalates, which are being slowly banned in North America and some of the European nations. On the other hand, in the coming years, the medical processing seals market has the opportunity to grow with increasing use of other materials such as ultrahigh molecular weight polyethylene (UHMWPE) for medical seals applications.
As per materials, the medical processing seals market is segmented into metals, silicone rubbers, PTFE, EPDM, ultrahigh molecular weight polyethylene (UHMWPE), nitrile rubbers and others. Silicone rubber is likely to have a considerable share in the coming years. It is low cost and easily available material for seal purpose. Silicone rubber seals are suitable for outdoor applications, with good resistance to weathering, UV exposure and aging. Consequently, they are used in high volume syringe, face mask or inhalers sealing applications in the medical industry It also provides excellent ozone resistance and maintains their flexibility in extremely low temperatures. However, they are also known to be susceptible to infections which can pose a greater threat in medical device applications.
Nitrile rubber is another common material used in MPS applications. Fluoroelastomer (FKM) is an important material used in MPS production that are a part of elastomers family. The growing range of materials coupled with increasing applications will be directly influencing product demand over the conjectured timeframe.
Application segment in MPS market includes O-rings, gaskets, seals and others. O-rings application is likely to grow substantially over the forecast timeframe. O-Rings are used in a variety of medical applications either for sealing or as energizing purposes. Few of the medical applications of O rings are drug delivery devices, respiratory equipment, pumps, valves, connectors, fluid transfer, cylinders and medical devices in general. On account of its important developments, the product demand is likely to grow in the coming future.
Asia Pacific and North America will be the prime MPS markets from 2019 to 2025. North America is known for its high per capita medical spending coupled with growing healthcare investments, in turn, making it a lucrative market for MPS products. However, the increasing medical cost in the U.S. may slow down the individual healthcare spending in the coming years.
The emerging economies of Asia Pacific are increasing their government spending for building robust medical infrastructure. The rising population coupled with increasing investment in the medical industry are the chief drivers of these developments. Additionally, Asia Pacific countries such as India, Thailand, Singapore, South Korea and Malaysia are increasingly becoming a medical tourism hub owing to its comparatively lower healthcare costs than the U.S. The higher economic growth of these nations in the region will propel the infrastructure overhaul in Asia Pacific over the forecast timeframe. It will, in turn, propel product demand in the region, over the forecast timeframe.
The companies functioning in the industry include Precision Polymer Engineering, Trelleborg Group, Sur-Seal, Saint-Gobain – Omniseals, IDEX Corporation, Bal Seal Engineering, Freudenberg Group, Marco Rubber & Plastics, LLC. and Ace Seal & Rubber.
Medical Processing Seals (MPS) Market, By material, 2014-2025 (Tons) (USD Million)
- Silicone rubbers
- Nitrile rubbers
Medical Processing Seals (MPS) Market, By Application, 2014-2025 (Tons) (USD Million)
The above information has been provided for the following regions and countries:
- North America
- Latin America
- South Africa
- Saudi Arabia
- Precision Polymer Engineering
- Trelleborg Group.
- Saint-Gobain - Omniseals
- IDEX Corporation
- Bal Seal Engineering
- Freudenberg Group
- Marco Rubber & Plastics, LLC.
- Ace Seal & Rubber
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