Medical Foam Market Size to Reach USD 41.59 Billion in 2028, CAGR:7.3% | Reports and Data

- Rising demand for protective packaging of medical devices and growth in the medical device industry worldwide are key factors driving market revenue growth

- Market Size – USD 23.85 Billion in 2020, Market Growth – at a CAGR of 7.3%, Market Trends – Increasing demand for bio-absorbable medical foams

NEW YORK, July 29, 2021 /PRNewswire/ -- The global medical foam market size is expected to reach USD 41.59 Billion in 2028 and register a revenue CAGR of 7.3% during the forecast period, according to a latest report by Reports and Data. Market revenue growth is primarily driven by rising demand for protective packaging for medical devices. The need to protect medical devices from shock and vibration, puncturing, crushing, tearing, humidity and heat is boosting demand for protective packaging. Closed-cell medical foam is cost-effective and has ability to sustain during transport, which are other factors driving demand as a medical device and component packaging solution.

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Closed-cell foams such as cross-linked polyethylene foam is extensively utilized in the packaging of medical products and equipment. Polyethylene foam is utilized for packaging sensitive instruments and devices due to its excellent insulation and vibration dampening properties and high resistance to moisture and chemicals. Open-cell foams such as polyurethane foam is used widely in applications such as bedding and provides excellent cushioning. Growth in the medical device industry is expected to further boost revenue growth of the market during the forecast period. Rising prevalence of chronic diseases, increasing geriatric population, and the ongoing COVID-19 pandemic are driving demand for medical devices in the hospitals, care homes, and medical centers.

Rising demand for bio-absorbable medical foams in the healthcare industry is also driving advancements in the medical foam industry. Bio-absorbable medical foams absorb blood and body fluids, expand to exert pressure on wounds, conform to the shape of the wound, and does not stick to wounds. The materials are useful in treating wounds in military, surgical, veterinary and other settings, and can be placed within traumatic wounds such as shrapnel cuts, gunshots, and other deep wounds to stop bleeding and stabilize the area.

To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/medical-foam-market

Some Key Highlights From the Report

• In December 2020, Bionix announced the launch of SecureFoam Pouch-Pro, which is all-in-one solution for creating custom patient positioning. SecureFoam Pouch-Pro is for single-patient use for minimizing cross-contamination risk and helps in maintaining cleanliness by minimizing the product spilling chances.
• Polymers segment revenue is expected to register a rapid growth rate over the forecast period. The high-performance polymer foams used for medical purposes have the ability to provide superior durability, versatility, and flexibility, which is driving revenue growth of this segment.
• Flexible foam segment is expected to register significant revenue growth over the forecast period. Enhanced thermal insulation, durability, vibration absorption, high impact and mechanical and moisture resistance properties of flexible foam are resulting in its increasing demand.
• Bedding & cushioning segment revenue is expected to expand significantly over the forecast period owing to increasing government spending on healthcare facilities in order to enhance patient comfort and safety. Durability, flexibility, and long-lasting feature of bedding and cushioning made of polymer foam is resulting in wide usage in hospitals, care homes, and medical centers.
• The market in Asia Pacific is expected to register robust revenue CAGR over the forecast period. Rising demand for medical devices, hospital bedding, and wound dressing applications in the region due to the pandemic is expected to continue to drive use of medical foams.
• Major players in the market include The Dow Chemical Company, Sekisui Chemical Co., LTD., Huntsman Corporation, Trelleborg AB, BASF SE, Recticel NV, INOAC Corporation, UFP Technologies, Inc., FXI HOLDINGS, INC., and ARMACELL INTERNATIONAL S.A.

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For the purpose of this report, Reports and Data has segmented the global medical foam market based on material, foam type, application, and region:

• Material Outlook (Revenue, USD Billion; 2018-2028)
• Latex
• Polymers
• Metals
• Foam Type Outlook (Revenue, USD Billion; 2018-2028)
• Rigid Foam
• Flexible Foam
• Spray Foam 
• Application Outlook (Revenue, USD Billion; 2018-2028)
• Medical Packaging
• Bedding & Cushioning
• Prosthetics & Wound Care
• Medical Devices & Components
• Others
• Regional Outlook (Revenue, USD Billion; 2018-2028)
• North America
• a.  U.S.
• b.  Canada
• c.  Mexico
• Europe
• a.  Germany
• b.  UK
• c.  France
• d.  Italy
• e.  Spain
• f.  Sweden
• g.  BENELUX
• h.  Rest of Europe
• Asia Pacific
• a.  China
• b.  India
• c.  Japan
• d.  South Korea
• e.  Rest of APAC
• Latin America
• a.  Brazil
• b.  Rest of LATAM
• MEA
• a.  Saudi Arabia
• b.  UAE
• c.  South Africa
• d.  Israel
• e.  Rest of MEA

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