-- The global market for medical grade silicone rubber was valued at USD 670.78 million in 2022, and is projected to grow to USD 1133.27 million by 2032, with a 6% revenue CAGR during the forecast period. The market is driven by increasing demand for minimally invasive procedures, rising incidence of chronic diseases and age-related health issues, and expanding use of silicone rubber products in medical applications due to their biocompatibility, flexibility, and durability. Market growth is also fueled by the development of innovative silicone rubber products, such as Liquid Silicone Rubber (LSR) and High-Consistency Rubber (HCR), which are ideal for medical implants, prostheses, tubing, and catheters.
Furthermore, rising healthcare infrastructure investments and healthcare costs in emerging economies, along with government programs promoting medical equipment and device usage, are expected to drive market revenue growth. The demand for medical grade silicone rubber is expected to increase due to the growing aging population, rising incidence of chronic diseases, and the popularity of minimally invasive procedures. However, high manufacturing costs and strict regulatory standards such as ISO 13485 and U.S. FDA regulations may hinder market growth.
Access Full Report Description with Research Methodology and Table of Content @ https://www.reportsanddata.com/report-detail/medical-grade-silicone-rubber-market
Medical Grade Silicone Rubber Market Segments:
The global medical grade silicone rubber market can be segmented by product type and application. Based on product type, the market is segmented into Liquid Silicone Rubber and High Consistency Rubber. On the basis of application, the market is categorized into Prosthetics & Orthopedic Devices, Medical Tapes, Medical Devices & Components, Implants, and Others.
Geographically, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Country-wise, the market is further segmented into the U.S., Canada, U.K., Germany, France, BENELUX, China, India, Japan, South Korea, Brazil, Saudi Arabia, UAE, and Turkey.
Liquid Silicone Rubber is a highly pure form of silicone rubber and is ideal for use in medical implants and prostheses due to its excellent biocompatibility and biostability. On the other hand, High Consistency Rubber is commonly used in medical tubing and catheters due to its exceptional mechanical properties and flexibility.
The applications of medical grade silicone rubber include Prosthetics & Orthopedic Devices, Medical Tapes, Medical Devices & Components, Implants, and Others. Prosthetics & Orthopedic Devices are expected to hold a significant share of the market due to the increasing number of orthopedic surgeries and the growing geriatric population. Medical Tapes are also expected to witness substantial growth owing to their ability to adhere to skin and other surfaces for an extended period of time.
Geographically, North America and Europe are expected to hold a significant share of the market due to the increasing demand for minimally invasive procedures, rising incidence of chronic diseases, and expanding use of silicone rubber products in medical applications. Asia Pacific is expected to witness substantial growth due to the rising healthcare infrastructure investments and increasing healthcare costs in emerging economies. Furthermore, the Indian government's programs to encourage the use of medical equipment and devices in the country, such as the Make in India program and the National Health Policy, are expected to raise demand for products made of medical grade silicone rubber in the region.
Get Free Sample PDF (To Understand the Complete Structure of this Report [Summary + TOC]) @ https://www.reportsanddata.com/download-free-sample/6252
Medical Grade Silicone Rubber Market: Strategic Developments
In recent years, several companies have launched new silicone rubber products specifically designed for medical applications. Dow Corning Corporation launched a product line in 2021 that includes a range of silicones suitable for use in medical device manufacturing and assembly. These silicones offer enhanced flexibility, tear strength, and biocompatibility.
In 2021, Wacker Chemie AG announced the expansion of its silicone rubber production facilities in South Korea to meet the growing demand for silicone rubber products in the region. The expansion aimed to increase the production capacity of medical grade silicone rubber to cater to the increasing demand from the healthcare industry.
Momentive Performance Materials Inc. announced in 2020 the development of a new medical grade silicone rubber technology capable of withstanding harsh sterilization conditions while maintaining its physical and mechanical properties. The new technology is expected to offer improved performance and reliability for medical devices and products.
Shin-Etsu Chemical Co. Ltd. also announced the expansion of its medical grade silicone rubber production capacity in Japan in 2020 to cater to the growing demand from the healthcare industry. The expansion aimed to cater to the increasing demand for silicone rubber products for medical applications in the Asia Pacific region.
Elkem Silicones announced the launch of a new range of liquid silicone rubbers (LSRs) designed specifically for medical applications in 2020. The new LSR range offers improved biocompatibility, transparency, and processability, aiming to offer better performance and ease of use for medical device manufacturers.
Dow Corning Corporation launched the Silastic Q7-78XX series in 2021, a new range of medical grade silicone rubber products designed specifically for implantable medical devices. These silicones offer enhanced biocompatibility and flexibility.
In 2020, Shin-Etsu Chemical Co. Ltd. also launched a new medical grade silicone rubber called KE-347T, designed for use in medical device manufacturing and assembly. The product offers improved adhesion, flexibility, and processability, making it easier to use for medical device manufacturers.
Momentive Performance Materials Inc. launched Silopren LSR 7080 liquid silicone rubber in 2020, a new medical grade silicone rubber designed for use in healthcare applications. The product offers enhanced biocompatibility, tear strength, and processability, aiming to provide better performance and reliability for medical devices and products.
Medical Grade Silicone Rubber Market: Competitive Landscape
The following companies are major players in the silicone rubber market: Dow Corning Corporation, Wacker Chemie AG, Shin-Etsu Chemical Co. Ltd., Momentive Performance Materials Inc., Bluestar Silicones International, Stockwell Elastomerics Inc., Elkem Silicones, Saint-Gobain Performance Plastics Corporation, Quantum Silicones LLC, and KCC Corporation.
Read more about: Medical Grade UHMWPE Market to Reach USD 3.73 Billion by 2032 with a 13% CAGR, Driven by Increased Demand for Joint Replacement Implants and Superior Qualities of UHMWPE
About Us: Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
Contact Info:
Name: John W
Email: Send Email
Organization: Reports and Data
Address: 40 Wall St. 28th floor New York City, NY 10005 United States
Phone: +1-212-710-1370
Website: https://www.reportsanddata.com/
Release ID: 89095681
Google
RSS