Medical Grade Silicone Market Size, Share, Trends, Growth and Forecast 2032

Medical Grade Silicone Market Insights

According to the report published by Zion Market Research, the global Medical Grade Silicone Market size was valued at USD 2.61 Billion in 2023 and is predicted to reach USD 4.61 Billion by the end of 2032. The market is expected to grow with a CAGR of 6.5% during the forecast period. The report analyzes the global Medical Grade Silicone Market's growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the Medical Grade Silicone industry.

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Global Medical Grade Silicone Market: Overview

Medical grade silicone is widely utilized in medical applications which are examined for biocompatibility. The medical-grade silicone can be broadly categorized into three segments namely long-term implantable, short-term implantable, and non-implantable. These find a huge number of applications from gel sheets for scar therapy, seals & gasket, cylinder & syringes, menstruation cups, and nonstick containers to respiratory masks, long & short-term implants, dental retainers, tubes, and several others. Medical-grade silicon possesses excellent thermal stability, long lifespan, tensility, and conductivity.

Global Medical Grade Silicone Market: Growth Factors

The global medical grade silicone market is highly influenced by the growing demand for surgical reconstructive components, heart pumps, defibrillators due to its hydrophobicity and biocompatibility properties. The orthopedics and prosthetic devices are manufactured using medical-grade silicone due to their appearance and lightweight. Furthermore, the spike in the need for disposable devices will significantly scale up the demand for medical-grade silicone. Liquid silicon is highly utilized in infant care products like bottle nipples. However, it is also utilized in seals, electric connectors, and membranes. Moreover, the growing prevalence of osteoporosis is likely to uptick the demand for these silicones globally.

The adoption of the modern day lifestyle is transforming the concept of skincare, which in turn is resulting in growing incidences of skin implant and cosmetic surgeries. Medical-grade silicone products are highly utilized in these surgical procedures. In addition, the fast paced lifestyle has also revolutionized the food habits that have suddenly led to the spike in several diseases including cardiovascular, thereby expediting the demand for medical grade silicone globally. The availability of low-cost healthcare facilities in developing regions like Malaysia, Singapore, India, and China coupled with the growing disposable income of the people in these regions are likely to promulgate the growth of the global medical grade silicone market exponentially. Silicone elastomers possess superior properties when compared to adhesives, foams, and silicone gels in terms of high productivity, oil & fuel resistance, chemical & solvents, inertness, and temperature variation.

These factors together contribute towards the growing utilization of silicone elastomers in several sectors including drug delivery, vascular, surgical, diagnostic, and neuromodulation. Most importantly, medical implants are highly adopted to substitute missing or damaged biological parts. They are placed inside or on the surface of the body. Implants help in providing support, monitoring body functions, and delivering medication to tissues and organs. Manufacturers are fuelling their research and development activities in order to launch innovative products in the market and generate huge revenue out of it. Additionally, the harmonization of rules and regulatory standards is likely to offer an exponential growth curve in the market in the coming years.

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Global Medical Grade Silicone Market: Segmentation

The global medical grade silicone market can be segmented into application, product, and region.

By application, the market can be segmented into oral care products, contact lens, medical tapes, medical devices, orthopedics components, prosthetics, and others. The prosthetic segment accounts for the largest share in the global medical grade silicone market due to the growing number of clinical trials and successful clinical outcomes. However, the ongoing technological advancements and the advent of cost-effective products are likely to expedite the growth of the segment.

By product, the market can be segmented into forms, medical coatings, medical adhesives, elastomers, and others. The elastomers segment holds the largest share in the global medical grade silicone market due to the excellent properties offered by these polymers like fire resistance, exceptional thermal conductivity, high tear strength, hypoallergenic, and several others.

Medical Grade Silicone Market: Report Scope

Global Medical Grade Silicone Market: Regional analysis

North America accounts for the largest share in the global medical grade silicone market due to the growing manufacturing units in the region. However, the fast growth and proliferation of the healthcare sector in the region will augment the utilization of medical devices along with advanced component production, which in turn is likely to project the growth of the regional market exponentially in the forthcoming years. However, the growing aging population in the region is likely to pose a huge demand for medical silicones in orthopedic and prosthetic components.

Asia Pacific is expected to be the fastest-growing region in the global medical grade silicone market owing to the growing initiatives from the government to strengthen the healthcare infrastructure in the region. However, the growing disposable income of the people in the region is likely to further accentuate the growth of the regional market over the forecasted year.

Global Medical Grade Silicone Market: Competitive Players

Some of the significant players in the global medical grade silicone market are:

• Shin-Etsu Chemical Co., Ltd.
• Vesta Inc.
• Silicone Altimex
• Point Medical Corporation
• Elkem Silicones
• FLEXAN LLC.
• Primasil Silicones Ltd.
• Albright Technologies
• DuPont & Dow
• 3M.

Key players are highly focusing on several growth strategies including product capacity expansion, strategy innovations, and white ventures distribution & branding to strengthen their position in the global medical grade silicone market.

The Global Medical Grade Silicone Market is segmented as follows:
 
By Application 

• oral care products 
• contact lens 
• medical tapes 
• medical devices
• orthopedics components
• prosthetics 
• and others

By product 

• forms 
• medical coatings
• medical adhesives
• elastomers
• and others

Global Medical Grade Silicone Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

What Reports Provides

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market.