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.
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Key Topics Covered
Chapter 1 Methodology & Scope 1.1 Research Methodology 1.2 Research Scope & Assumptions 1.3 List of Data Sources 1.4 List of Abbreviations Chapter 2 Executive Summary 2.1 Medical silicone market snapshot Chapter 3 Medical Silicone Market Variables, Trends, and Scope 3.1 Market segmentation & scope 3.2 Penetration & growth prospect mapping 3.3 Value chain analysis 3.4 Raw material trends 3.5 Technological overview 3.6 Regulatory Framework 3.7 Market dynamics 3.7.1 Market Driver Analysis 3.7.1.1 Increasing innovations in implantable medical devices sector 3.7.1.2 Enhancement of healthcare infrastructure in developing countries 3.7.1.3 Superior properties of silicone elastomers 3.7.2 Market restraint analysis 3.7.2.1 Emergence of TPE as an alternative to medical silicone 3.7.2.2 Dissimilarities in regulations across countries 3.8 Medical silicone market Porter’s analysis 3.8.1 Medical silicone – PESTEL Analysis
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