Global Medical Grade Silicone Market By Type (Gels, Medical Coatings, Medical Adhesives, Liquid Silicon Rubbers, and Other Types), By Applications (Prosthetics & Orthopedic, Medical Tapes, Medical Devices, Contact Lenses, and Other Applications), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2023-2032
- Published date: Nov 2023
- Report ID: 14349
- Number of Pages: 259
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Report Overview
The Global Medical Grade Silicone Market size is expected to be worth around USD 2,900 Million by 2032 from USD 1,613 Million in 2022, growing at a CAGR of 6.20% during the forecast period from 2023 to 2032.
Due to its pleasing appearance and lightweight, silicone is becoming a preferred material for medical device manufacturers. Additionally, silicone is biocompatible and can be utilized in orthopedic and prosthetic surgical procedures. Prosthetic liners are made of soft, flexible materials made with this polymer. To keep the patient’s residual limb from coming into contact with a prosthetic, these liners are molded over it.
Due to its rapid curing capability and high compatibility with a variety of sterilization procedures, silicone rubber has seen a significant rise in demand. Products like feeding tubes, balloon catheters, compression bars, drainage, introducer tips, earplugs, stoppers, septum, and valves all make use of these rubbers. As a result, the wide range of applications is expected to increase the demand for sterilization products made of medical-grade silicone rubber.
*Actual Numbers Might Vary In The Final Report
Key Takeaways
- The Global Medical Grade Silicone Market size is predicted to reach USD 2,900 Million by 2032.
- The market was valued at USD 1,613 Million in 2022.
- The growth rate (CAGR) is estimated to be 6.20% from 2023 to 2032.
- Silicone rubber has seen increased demand due to its rapid curing capability.
- Market growth is influenced by the rise in the number of geriatric patients.
- The rising cost of silicone-based medical devices can restrain market growth.
- Increased expenditure in healthcare sectors, especially in countries like China and India, can boost demand.
- Liquid silicone rubber is projected to hold the largest market share of 28%.
- Silicone gels, due to their unique properties, are expected to gain substantial market share in the upcoming years.
- The prosthetics & orthopedic segment has the largest revenue share at 33% for medical grade silicone applications.
- Medical tape is often used to manage scars and on sensitive skin.
- Silicone hydrogel lenses are more porous, leading to higher oxygen permeability, driving their demand.
- North America held the most significant market share of 38.3% in 2022.
- In North America, a key trend influencing the market is the rising healthcare spending per capita.
- The Asia Pacific is expected to see substantial growth due to increased healthcare expenditure and continuous R&D activities.
Driving Factors
An increasing number of medical-grade silicone-based implantable devices.
Medical devices that are used in surgery, implantation, or to replace biological parts are in advanced development. The requirements for newly developed medical devices are met either internally or externally and a greater emphasis on the creation of medical devices and medications that support the body’s ability to function. Utilization of medical grade silicone in orthopedics, cardiovascular disorders, neuropathic disorders, and other therapeutic disorders in various clinical settings which contributes to expanding the market for medical grade silicone market growth by increasing demand and revenue share.
Prevalence of the chronic disorder
An increase aids market expansion in the number of chronic disorders among the population. The medical grade silicone market growth sees an increase in the number of devices it sells as a result of an increase in the number of geriatric patients, an increase in the number of accidents, and an increase in the demand for disposable medical devices and surgical instruments. In addition, the healthcare industry’s demands are growing, and the market is expanding.
Restraining Factors
Higher cost of the medical-grade silicone devices
The integration of medical components in the body that support the organs and tissues, as well as the advanced development of new technologies with enhanced features and performance for surgical devices, resulted in an increase in the price of disorders-related medical devices and components. The market for medical-grade silicone may be more severely affected by the rising cost of silicone-based medical devices.
Trending Factors
Increasing expenditure and rising infrastructure in healthcare sectors
The demand for silicone in the medical devices market in developing nations like China, India, Thailand, Malaysia, and others is anticipated to rise as a result of rising expenditures and a greater emphasis on healthcare, rising construction of hospitals and clinics, and growing establishment of public health insurance.
It is anticipated that the expansion of healthcare infrastructure will be fueled by the aging population and rising income levels in developing nations. Additionally, it is anticipated that the global harmonization of standards and regulatory requirements will aid in the overall expansion of the medical silicone market.
Lack of Skills
With new developments integrated into medical devices, there has been an increase in the number of surgeries performed, including knee arthroplasty, cardiovascular disorders, and other surgeries. These surgeries use new medical components designed with more functions and procedures. The individuals’ lack of skill may impede the market’s expansion.
Availability of alternative medical devices
There are a number of alternatives to medical grade silicone based devices, and the market’s current advanced technologies have the potential to alter the medical grade silicone market share, resulting in a lower revenue share for medical grade silicone-based devices.
Growth Opportunities
Rising healthcare facilities
Improved facilities in hospitals for medical component development, including new developments and expanded functions in various disorders like cardiovascular, orthopedic, prosthetic, and other complications, emerged alongside the emerging opportunities in the market for medical grade silicone. A greater number of medical grade silicone based components contributes to the expansion of the market.
Increasing government support
Market share is increased by rising demand for new technologies and infrastructures created through the development of medical grade silicone devices. Increased investment in new innovative developments in medical grade silicone devices with improved results and good response, as well as increased government interest in developing new medical devices based on silicone material with increased benefits like reduced weight, contributes to the generation of more opportunities.
Type Analysis
Liquid silicone rubber is anticipated to hold the largest market share of 28%
Based on product form the global medical grade silicone market size is segmented into gels, medical coatings, medical adhesives, liquid silicon rubbers, and other products. Silicone rubber with its diverse properties has the potential to propel market expansion. Liquid silicone rubber is expected to acquire the largest market share due to its improved biocompatibility, resistance to higher temperatures, chemical resistance, and bacterial resistance. Thus it heightened interest in silicone devices of a medical grade.
Numerous characteristics and properties of medical devices resulted in increased production and manufacturing of medical components with improved performance. Sterilization, self-adhesiveness, and water resistance are all features of silicone rubber. An increase in demand for silicone rubber could boost the medical grade silicone market growth and bring in more money.
Silicone gels are typically made of a silicone elastomer that has been lightly cross-linked and has had its polymer network expanded by silicone fluids or, less frequently, nonsilicone fluids like mineral oil. Due to a number of properties, including resistance, high and low temperature, excellent hydrophobicity, and high dielectric breakdown, the product is expected to gain a lot of market share in the coming years. The rising demand for medical adhesives is subjected to the ability to stop fluid leaking from surgical incisions and wounds. There will be a greater potential for the expansion of medical adhesives and sealants that have been clinically demonstrated to shorten healing times and are also inexpensive.
On the other hand, the benefits associated with medical coatings such as flame resistance, waterproofing, weldability, thermal resistance, durability, abrasion resistance, air holding capabilities, and noise abatement capabilities are expected to drive the growth of this segment.
Applications Analysis
The prosthetics & orthopedic segment dominated the market with the largest revenue share of 33%
Based on application, the market for medical grade silicone market share is divided into prosthetics & orthopedic, medical tapes, medical devices, contact lenses, and other applications. Among these segments, prosthetics & orthopedics held the largest market share and are predicted to grow more over the forecast period. The market for medical grade silicone market size is significantly fueled by rising demand for prosthetics, breast implants, and replacement joints made of arthritic or destroyed silicone. Additionally, it is anticipated that the worldwide rise in the number of knee replacement surgeries will increase the demand for orthopedics over the forecast period.
People who have lost limbs can live better and function better with prostheses. When medical grade silicone is used, major prosthetic applications include implants and limbs. Due to their physical properties of chemical inertness, dimensional stability, thermal stability, flexibility, elasticity, and skin-like texture, medical grade silicones are utilized in the production of prosthetics. Silicone of a medical grade is used in orthopedic components to provide support and comfort over time. Silicone has excellent shock absorption, is non-toxic, has high strength, and is crystalline. It relieves pain and discomfort by releasing the impact and force on the joints, heels, and back. Long-term medical implants for orthopedic surgeries and sports medicine make use of medical grade silicone.
Medical tape can be used as a secondary dressing or as a window tape to keep devices, tubing, or dressings in place and keep the surface and edge seal waterproof. It is used on skin that is sensitive and to help manage scars. Compared to standard hydrogel lenses, silicone hydrogel lenses are a type of soft contact lens that is more porous, allowing more oxygen to enter the cornea. It improves the lenses’ oxygen permeability by combining hydrogel and silicone. They are an excellent option for long-term use. Due to this feature, the contact lens segment is predicted to grow more in the coming years.
The growth of the medical devices sector in the United States is anticipated to be fueled by demand for medical grade silicone rubber, which in turn is anticipated to be fueled by rising demand for advanced healthcare services as a result of the availability of well-developed healthcare infrastructure and reimbursement coverage.
Key Market Segments
Based on Type
- Gels
- Medical Coatings
- Medical Adhesives
- Liquid Silicon Rubbers
- Other Types
Based on Applications
- Prosthetics & Orthopedic
- Medical Tapes
- Medical Devices
- Contact Lenses
- Other Applications
Regional Analysis
North America is anticipated to emerge as a lucrative market
Based on region, the market for medical grade silicone market growth is classified into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Among these regions, North America dominated the market holding the largest market share of 38.3% in 2022.
One of the major trends that have had an impact on the market for medical grade silicone rubber in North America is the rising healthcare spending per capita in the form of health insurance in the United States. The demand for medical grade silicone rubber in the region is expected to rise as a result of this rising demand for surgical instruments, disposable devices, catheters, and other medical devices in the coming years.
The Asia Pacific is predicted to witness substantial growth in the coming years due to the surge in healthcare expenditure and continuous R & D activities. Over the next ten years, Europe is expected to experience significant growth.
It is anticipated that the region will emerge as a lucrative market for implants, led by nations like Germany and the United Kingdom. Government drives to further develop medical care framework and broad use of clinical level silicone in medical procedures is supposed to support market development in the region.
Key Regions and Countries
- North America
- The US
- Canada
- Mexico
- Western Europe
- Germany
- France
- The UK
- Spain
- Italy
- Portugal
- Ireland
- Austria
- Switzerland
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe
- Russia
- Poland
- The Czech Republic
- Greece
- Rest of Eastern Europe
- APAC
- China
- Japan
- South Korea
- India
- Australia & New Zealand
- Indonesia
- Malaysia
- Philippines
- Singapore
- Thailand
- Vietnam
- Rest of APAC
- Latin America
- Brazil
- Colombia
- Chile
- Argentina
- Costa Rica
- Rest of Latin America
- Middle East & Africa
- Algeria
- Egypt
- Israel
- Kuwait
- Nigeria
- Saudi Arabia
- South Africa
- Turkey
- United Arab Emirates
- Rest of MEA
Key Players Analysis
Due to the presence of numerous manufacturers, particularly in the United States, Germany, and China, the market is highly competitive. Numerous major players dominate the industry. There are a lot of different manufacturers competing for the same share of the global market.
Prosthetics, orthopedic components, devices, tapes, and oral care products all make use of medical silicone. To expand their market share, major players employ tactics like strategic innovations, production capacity expansions, distribution and branding, mergers, joint ventures, and acquisitions.
Market Key Players
Listed below are some of the most prominent medical grade silicone market players
- Dow Corning Corporation
- Momentive Inc.
- Wacker Chemie AG
- KCC Corporation
- Elkem Silicones
- NuSil Technology LLC
- Shin-Etsu Chemical Co., Ltd.
- Wynca Group
- Compagnie de Saint-Gobain S.A.
- Primasil Silicones Limited
- Other Key Players
Recent Developments
- In September 2022, Elkem Silicones announced the official opening of its new 18,000-square-foot factory in York, South Carolina, for the production of high-purity healthcare silicones. The location has ISO-certified Class 7 and Class 8 clean rooms and is intended for the production of silicone compounds of high purity that meet the requirements of the MedTech and Pharma markets. A single quality management framework that adheres to IPEC Good Manufacturing Practice (GMP) principles and ISO 9001 and ISO 13485 govern the site’s processes.
- In January 2022, BioRes – Silicone is an innovative elastomeric resin that was introduced by B9Creations, a global supplier of additive manufacturing technologies. This most recent improvement to its biocompatible 3D printing materials makes it possible to create custom medical and commercial tech solutions for products that are pleasant to the skin, such as headphones, hearing aids, wristbands, hearing aids, wearable accessories, silicone components for medical equipment, and other similar items. Medical grade silicone from B9Creations has a unique combination of biocompatibility, high accuracy, surface quality, and tear resistance. It is ISO 90993 approved for up to 30 days of extended skin contact.
Report Scope:
Report Features Description Market Value (2022) USD 1,613 Million Forecast Revenue (2032) USD 2,900 Million CAGR (2023-2032) 6.2% Base Year for Estimation 2022 Historic Period 2016-2021 Forecast Period 2023-2032 Report Coverage Revenue Forecast, Market Dynamics, Competitive Landscape, Recent Developments Segments Covered By Type – Gels, Medical Coatings, Medical Adhesives, Liquid Silicon Rubbers, and Other Types; By Applications – Prosthetics & Orthopedic, Medical Tapes, Medical Devices, Contact Lenses, and Other Applications Regional Analysis North America – The US, Canada, & Mexico; Western Europe – Germany, France, The UK, Spain, Italy, Portugal, Ireland, Austria, Switzerland, Benelux, Nordic, & Rest of Western Europe; Eastern Europe – Russia, Poland, The Czech Republic, Greece, & Rest of Eastern Europe; APAC – China, Japan, South Korea, India, Australia & New Zealand, Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam, & Rest of APAC; Latin America – Brazil, Colombia, Chile, Argentina, Costa Rica, & Rest of Latin America; the Middle East & Africa – Algeria, Egypt, Israel, Kuwait, Nigeria, Saudi Arabia, South Africa, Turkey, United Arab Emirates, & Rest of MEA Competitive Landscape Dow Corning Corporation, Momentive Inc., Wacker Chemie AG, KCC Corporation, Elkem Silicones, NuSil Technology LLC, Shin-Etsu Chemical Co., Ltd., Wynca Group, Compagnie de Saint-Gobain S.A., Primasil Silicones Limited, Other Key Players Customization Scope Customization for segments, region/country-level will be provided. Moreover, additional customization can be done based on the requirements. Purchase Options We have three licenses to opt for Single User License, Multi-User License (Up to 5 Users), Corporate Use License (Unlimited User and Printable PDF) Frequently Asked Questions (FAQ)
What is the Medical Grade Silicone Market Size During the Forecast Period 2023-2032?The Global Medical Grade Silicone Market size is expected to be worth around USD 2,900 Million by 2032.
What is the CAGR of Medical Grade Silicone Market During the Forecast Period?The Global Medical Grade Silicone Market size is growing at a CAGR of 6.20% during the forecast period from 2023 to 2032.
What is the Medical Grade Silicone Market Size in the Year 2022?The Global Medical Grade Silicone Market size was USD 1,613 Million in 2022, growing at a CAGR of 6.20% during the forecast period from 2023 to 2032.
Medical Grade Silicone MarketPublished date: Nov 2023add_shopping_cartBuy Now get_appDownload Sample - Dow Corning Corporation
- Momentive Inc.
- Wacker Chemie AG
- KCC Corporation
- Elkem Silicones
- NuSil Technology LLC
- Shin-Etsu Chemical Co., Ltd.
- Wynca Group
- Compagnie de Saint-Gobain S.A.
- Primasil Silicones Limited
- Other Key Players
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