The
global medical grade silicone market is expected to reach USD 596.8
million by 2025, growing at a CAGR of 6.6%, according to a report by Grand View
Research, Inc. Rising demand for Medical Grade Silicone owing to its
inherent thermal and chemical stability, hydrophobicity, resistance to
sterilization method, and low surface tension is expected to augment the
industry size over the forecast period.
The
growing use of high consistency silicone elastomers due to various properties
offered such as green strength, which is necessary to maintain extruded
profiles until vulcanized, is expected to increase their demand in extrusion
applications, which in turn is anticipated to stimulate the demand over the
forecast period.
Silicone
medical adhesives are used to fabricate medical devices, seal wounds, and affix
medical devices including dressing, a patch to the skin, and as a tape. The
market is expected to exhibit promising gains on account of high tourist
numbers triggering medical tourism in the Asia Pacific, especially in India,
South Korea, Thailand, Singapore, and Malaysia.
The
global medical silicone coatings market accounted for 8.7% of the overall
revenue share in 2016 and is expected to witness growth on account of high
usage of the product in mandrels, catheters, hypo tubes, stents, guide wires,
sutures, and syringes. The growing geriatric population coupled with the rising
obesity rates is anticipated to increase the occurrences of cardiac diseases,
which in turn is expected to stimulate the medical silicone demand.
U.S. medical
grade silicone market revenue by product, 2014 - 2025 (USD million)
Browse full research report on Medical
Grade Silicone Market: http://www.grandviewresearch.com/industry-analysis/medical-grade-silicone-market
Further
Key Findings From the Study Suggest:
- Silicone elastomer is anticipated to witness
significant revenue gain with a predicted CAGR of 6.9% from 2017 to 2025
due to the rising consumption of the product in the Liquid Silicone Rubber
(LSR) and High Consistency Rubber (HCR) applications. LSR and HCR find
application in pump diaphragms, hydrocephalic shunts, replacement finger
joints, pacemaker lead coverings, and catheters.
- Asia Pacific was the prominent market and
accounted for 22.1% of the overall volume share in 2016. Favorable FDI and
“Make in India” policy implemented by the Government of India are expected
to generate opportunities for the medical device components industry in
the country, which in turn is likely to aid in the medical silicone
industry growth.
- Growing awareness regarding commercially
available products, the adoption of enhanced surgical treatments, and
increasing healthcare infrastructure are expected to open new avenues for
medical products in the U.S., and therefore, augment the demand for
medical silicone in the market
- Momentive Performance Materials Inc.; 3M
Company; Trelleborg AB; Primasil Silicones Limited; China National
Bluestar (Group) Co. Ltd. (Bluestar); Henkel AG & Co. KGaA; Dow
Corning Corporation; Zodiac Coating SAS; and Wacker Chemie AG are some of
the prominent players dominating the industry
- The global medical silicone market is highly
fragmented in nature and marked by the presence of numerous global and
regional silicone producers. Due to end-user opportunities and fragmented
nature of the market, the intensity of rivalry is expected to increase in
the next eight years.
- In February 2017, Wacker Chemie AG named Foster
Corporation as an exclusive distributor of medical-grade silicone rubber
for the company’s Silpuran line in the North America healthcare market to
provide services such as customer support, enhanced customer experience,
and logistics in the region
- In November 2016, Dow Corning Corp. launched
soft skin adhesive to bridge the gap between the company’s Pressure
Sensitive Adhesives (PSAs) and gentle-adhesion SSAs
Access
Press Release By Grand View Research: http://www.grandviewresearch.com/press-release/global-medical-grade-silicone-market
About
Grand View Research, Inc:
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research reports,
customized research reports, and consulting services. To help clients make
informed business decisions, the company offers market intelligence studies
ensuring relevant and fact-based research across a range of industries
including technology, chemicals, materials, healthcare and energy.
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