DUBLIN, August 3, 2017 /PRNewswire/ --
The "Medical Grade Silicone Market - Global Forecast to 2022" report has been added to Research and Markets' offering.
The market size of medical grade silicone, in terms of value, is expected to reach USD 1.60 Billion by 2022, at a CAGR of 6.1%, between 2017 and 2022. High-growth application areas such as prosthetics & orthopedic and rapid growth of the global healthcare industry are the key factors driving the growth of the medical grade silicone market.
Medical grade silicones are extremely adaptable to changes in terms of application, property, and state. They can be manufactured with preferred properties, such as rigid solid form to low viscosity liquid form by altering the chain length and chemical structure. Silicone gel is increasingly being used in the healthcare industry in medical applications, ranging from very soft gels for prosthetic and implant applications, to very sticky gels for topical and transdermal wound care applications. Silicone gels are used to help prevent scars in freshly healed wounds and also reduce prominent immature scars.
The medical grade silicone market has been segmented based on different applications such as prosthetics & orthopedic, medical tapes, medical electronics and device assemblies & fittings, medical tubes, catheters, medical accessories & tools, dental, and others. Prosthetics & orthopedic are the largest and fastest-growing application segments for medical grade silicone market. Medical grade silicones are used to manufacture prosthetics due to their physical properties of chemical inertness, thermal & dimensional stability, elasticity, flexibility, and skin-like texture. Medical grade silicone elastomers have been broadly used in the replacement of ailing small joints and other orthopedic components. The first orthopedic medical grade silicone were hand and foot implants.
Asia Pacific is the fastest-growing market medical grade silicone. The developing economies in the region with rapidly growing infrastructure create great opportunity for growth of the medical grade silicone market. China and India are among the fastest-growing economies in the world. Additionally, India is projected to overtake China with the highest growth rate, thus driving the global economy. With such growth rate in these countries, the manufacturing sector is also estimated to record a leap, ultimately boosting the medical grade silicone market. The factors driving the growth of the market in Asia Pacific include Japan's growing medical industry, increasing aged population, rising number of cosmetic & plastic surgeries in India, growing number of cardiovascular diseases, higher domestic demand, and availability of raw materials and low-cost. The market in Asia Pacific, owing to the high demand, is much more dynamic and competitive than its western counterparts. These factors are expected to drive the demand for medical grade silicones in Asia Pacific.
Although the medical grade silicone market is growing at a significant rate, certain factors could hinder the market growth. The governmental measures to control healthcare cost and lack of investment in product development are restricting the growth of the market to some extent. Stringent and time-consuming regulatory policies are the major challenges for the market.
- 3M Company
- Albright Technologies
- Bluestar Silicones (Elkem Group)
- DOW Corning Corporation
- FMI LLC
- Finesse Medical Ltd.
- Henkel AG & Co.
- Kibaru Manufacturing Sdn Bhd
- Momentive Performance Materials Inc.
- Nusil Technology LLC
- Polymer Science, Inc.
- Primasil Silicones Limited
- (10+ Others)
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Medical Grade Silicone Market, By Form
7 Medical Grade Silicone Market, By Application
8 Medical Grade Silicone, By Region
9 Competitive Landscape
10 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/research/9dj58f/medical_grade
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