Growing Geriatric Population, Growing Demand for Medical Implants to Drive Global Medical Grade Silicone Industry

Medical Grade Silicone Industry size was valued at USD 337.10 million in 2020 and is expected to register a CAGR of 6.8% from 2021 to 2028.Global Medical Grade Silicone Industry is mainly driven by the growing demand for medical devices made from non-flammable, safe substances that will not interfere with the medication being prescribed to the respective patient. Medical grade silicone is a highly malleable, plastic material that can be molded into almost any shape, making it perfect for applications such as feeding and catheter tubes, drains, etc. Medical grade silicone is also highly unreactive to chemicals such as strong acids and bases, making it important for use in medical devices, where contact with fairly strong chemicals is par for the course. The growing healthcare sector in a number of countries across the world is thus likely to be a major driver for the Global Medical Grade Silicone Industry over the forecast period. As the healthcare sector has grown, the demand for various medical devices and accessories has grown tremendously. This is likely to remain a major driver for the Global Medical Grade Silicone Industry over the forecast period.

Medical grade silicone is also widely used in medical implants and prosthetics. This is also likely to be a key driver for the Global Medical Grade Silicone Industry over the forecast period, as the growing geriatric population is likely to push the demand for medical implants and prosthetics in the coming years. Growing demand for medical grade silicone in prosthetics and orthopaedics is likely to be a major driver for the Global Medical Grade Silicone Industry.  The increasing technological development in the dentistry sector is also likely to drive the demand for substances such as medical grade silicones, which are effective ingredients in medical tapes and adhesives used in attaching crowns and other dental prosthetics. The field of dental prosthetics is likely to be highly profitable for the Global Medical Grade Silicone Industry, as the demand for dentistry procedures is likely to increase in the coming years due to the growing awareness among the end users.

The report presents a detailed overview of the Global Medical Grade Silicone Industry by providing a detailed historical review of the market, a comprehensive overview of where the market stands at present, and key projections about the market’s likely growth trajectory in the coming years. The various economic factors having a lasting impact on the Global Medical Grade Silicone Industry’s growth are also assessed in the report.

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Competitive Analysis:

Leading players in the global medical grade silicones market include Primasil Silicones Ltd., Applied Silicone Corporation, Polymer Science Inc., Henkel AG & Co. KGaA, Nusil Technology LLC, Shin-Etsu Chemical Co. Ltd., Trelleborg AB, Zodiac Coating SAS, Momentive, DSM N.V., Saint-Gobain Performance Plastics, and 3M. Leading players in the Global Medical Grade Silicone Industryare likely to focus on capacity expansion in the coming years, as there is significant scope for an increase in the demand from the market.

Market Opportunity:

Recently, the demand for menstruation cups made from medical grade silicone has increased from the female demographic, as they can be easily cleaned and reused. The women’s health sector is likely to remain a key segment for the Global Medical Grade Silicone Industry, as the growing emancipation of women across the world has made them financially self-sustained entities who are spending increasing amounts on cosmetic and personal care items.

Segmentation:

The Global Medical Grade Silicone Industry is segmented based on the product, application, and region.

Based on the product, the Global Medical Grade Silicone Industry is segmented into elastomers, gels, medical adhesives, medical coatings, and others.

Based on the application, the Global Medical Grade Silicone Industry is segregated into medical devices, medical tapes, orthopaedics, prosthetics, and contact lenses.

Regional Analysis:

North America is likely to remain the leading revenue generator in the global medical silicones market, as there are a significant number of medical grade silicone producers in North America. This has led to easy, widespread circulation of medical grade silicone products in the region, which is likely to remain a key driver for the market over the forecast period. 

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