Medical Grade Silicone Market size is set to exceed USD 2 billion by 2030, as per a new research report announced by Global Market Insights Inc.
Technological advancements have transformed the healthcare industry, especially the dental sector. A notable example is the usage of rubber silicon moldings as a crucial dental tool. Silicone rubber is used in various processes and goods as it can be sterilized for use in applications including equipment, procedures, and patient care. Medical silicone products are also used in other procedures owing to their moisture resistance and strength. These materials form a crucial part of treatment and aesthetic implants, becoming an essential component of the healthcare sector.
Robust product characteristics to augment demand for silicone sheets
Sheet segment is anticipated to depict over 6.5% CAGR from 2022-2030. Silicone sheets are non-toxic, have low volatility, and can withstand extremely low and high temperatures. These benefits will foster the product use in various application areas. Additionally, there is rising availability of many types of silicone sheets such as non-reinforced sheets, reinforced sheets, and firm sheets. It represents the significant use of the product as a preferred form of medical grade silicone.
Browse key industry insights spread across 132 pages with 133 market data tables & 14 figures & charts from the report, “Medical Grade Silicone Market Analysis By Form (Gel, Rubber, Foam, Sheet, Block), Application (Respiratory Devices, Medical Device Components, Implants, Orthopedic Forms), Industry Analysis Report, Growth Potential, Competitive Market Share & Forecast, 2022 – 2030” in detail along with the table of contents:
Widespread adoption of medical devices to increase procurement of silicone components
Medical grade silicone market from the medical device components segment was worth USD 490 million in 2021. Some medical devices are made of silicone components that make them elastomers, and thermoplastic. These devices are used for diagnostics, surgical instruments, and biopharma. Some other applications of silicone medical devices include tubing in peristaltic pumps, drug delivery, and face masks. The wide-ranged usage of medical device components will amplify the consumption for materials such as medical grade silicone, cites the report.
Growing patient pool in Asia Pacific to spur use of silicone in respiratory devices
APAC medical grade silicone market is expected to depict over 6.5% CAGR between 2022-2030. This is due to rising number COVID-19 patients and those suffering from other respiratory disorders in the region, especially in countries such as China. The expanding population base and the severity of the diseases has resulted in an increased demand for various respiratory medical devices. Since medical grade silicone rubber is an integral material for the production of various medical components, including respiratory devices, the material adoption in the region is expected to increase significantly.
Business expansion strategies from industry players to bolster market dynamics
Some of the major companies involved in the medical grade silicone market include Avantor Inc., Bio Plexus, LLC, Dongguan City Betterly New Materials Co., Ltd., Primasil Silicones Limited, Shinu-Estu Chemical Co., Ltd., STOCKWELL ELASTOMERICS, INC., Wacker Chemie AG, DuPont, Momentive (KCC Corporation), Elkem ASA. Companies are focusing on expanding their business operations to reinforce their market position.