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At a growth rate of 6.1%, the medical grade silicone market is expected to reach USD 16.1 billion by 2022. Artificial devices used to replace damaged or missing biological parts include medical implants. These implants are placed either inside the body's surface and help deliver medication, monitor body functions, and provide support to organs and tissues.
Advancements drive the medical implants market in medical technologies and increase chronic diseases such as osteoarthritis, cardiovascular diseases, neuropathic diseases, and congenital disorders. To changes in terms of application, property, and state, the medical grade silicones are incredibly adaptable. Medical-grade silicones can develop with a rigid solid form to low viscosity liquid form by varying the chain length and the chemical structure. And it is also used to prevent scars in freshly healed wounds and reduce prominent immature scars on the human body.
The medical grade silicone market is divided into prosthetics & orthopedic, medical tapes, medical electronics and device assemblies & fittings, medical tubes, and catheters. The largest and the fastest-growing application segments for the medical grade silicone market are prosthetics and orthopedic. In replacing ailing small joints and other orthopedic components, medical-grade silicone elastomers have been widely used. Hand and foot implants were the first orthopedic medical grade silicone implants. The fastest-growing region for the medical grade silicone market is the Asia Pacific. In this region, the developing countries have a rapidly growing infrastructure that would create growth opportunities in the medical grade silicone market. The fastest-growing economies around the globe and Asia pacific are China and India. With the highest growth rate, India is projected to overtake China, thus driving the global economy. The manufacturing sector is also estimated to take a record to leap with such a growth rate in these economies, thereby boosting the medical grade silicone market. The factors which drive the growth of the market in the Asia Pacific region are the growing medical industry, increasing aged population, rising cosmetic & plastic surgeries in India. Owing to high demand in the Asia Pacific, the market is more dynamic and competitive than Western nations. Such factors in the Asia Pacific are expected to drive medical-grade silicone demand in this market.
Certain factors that could hinder the growth of the medical-grade silicone market, which include governmental measures to control healthcare costs and lack of investment in product development, restrict the growth of the need to some extent. In the manufacturing of medical devices such a catheter, surgical incision drain, medical electronics, device assemblies and fittings, respiratory devices, medical tubes, and parts such as valves and medical rings, medical-grade silicone is used as a biomaterial. It offers good heat resistance as well as chemical and physical resistance without stabilizers for medical devices. In medical devices, where medical grade silicone is used, various processes such a compression molding, transfer molding, and injection molding are used.
LSR is biocompatible and is used as an ideal material for medical devices and available in various grades. It is flexible, durable, transparent, ultraviolet, and stain-resistant. The usage of heart pumps and defibrillators, diagnostic guidewires and over-molded surgical blades and suture sleeves has increased. This will propel the growth of the medical grade silicone market. The growth will also be there due to the aging population, rising global income in developing countries such as India, China, Thailand and Indonesia. The rising number of road accidents and degenerative bone disease are also the major factors that will drive growth in this industry Medical grade silicone display a high level of properties as compared to other products.
Key Market Players
The key market players in the medical grade silicone market are:
Based on Type
Based on Application
The report offers a comprehensive insight on the Medical Grade Silicone Market share, competitor landscape, market trends, growth, revenue, and key driver’s analysis with coverage of key players, top geographies, product types and end user.
Exhaustive secondary research and in-depth primary interviews with industry experts has been conducted to present qualitative and quantitative insights in the report.
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