SAN FRANCISCO, July 29, 2020 /PRNewswire/ -- The global medical foam market size is anticipated to reach USD 37.9 billion by 2027, according to a report by Grand View Research, Inc., registering a CAGR of 7.5% over the forecast period. The rising product demand from the bedding & cushioning, medical devices, packaging, and a few other application segments are expected to propel market growth. Moreover, the need for better healthcare facilities coupled with a rising number of hospitals has boosted the product demand in medical devices application, which is anticipated to drive the market over the forecast period.
Key suggestions from the report:
- The global market was valued at USD 21.4 billion in 2019 and is estimated to register a CAGR of 7.5% from 2020 to 2027
- The market is expected to witness significant growth over the forecast period owing to rising product demand from medical packaging and medical device & components applications
- North America is projected to be the largest regional market over the forecast period owing to the growing product demand from various application segments
- Asia Pacific is projected to register the fastest growth rate from 2020 to 2027 owing to rising healthcare investments and growing product demand from medical packaging applications, in countries, such as India, China, and Japan.
Read 110 page research report with ToC on "Medical Foam Market Size, Share & Trends Analysis Report By Foam Type (Flexible, Spray), By Product (PU, Polyolefin), By Application (Bedding & Cushioning, Medical Devices & Components), And Segment Forecasts, 2020 - 2027" at: https://www.grandviewresearch.com/industry-analysis/medical-foam-market
Medical foams are lightweight and have high flexibility, absorbency, and durability. Moreover, they offer excellent stain and fungal resistance and impact absorption. Due to these characteristics, medical foams are widely used in the healthcare sector in medical packaging, prosthetic padding, bedding and cushioning, wound dressing, medical aids, etc., which is also projected to drive the market.
Asia Pacific is expected to be the fastest-growing regional market owing to the increasing demand for high-quality medical devices and components from hospitals in major economies, such as China, India, and Singapore. Furthermore, the rising expenditure of various governments on public & private health systems and the growing geriatric population are fueling the demand for improved healthcare services and infrastructure, which, in turn, is expected to propel the product demand in the coming years.
Grand View Research has segmented the global medical foam market based on foam type, product, application, and region:
- Medical Foam Type Outlook (Revenue, USD Million, 2016 - 2027)
- Medical Foam Product Outlook (Revenue, USD Million, 2016 - 2027)
- Polyurethane (PU)
- Polystyrene (PS)
- Polyvinyl Chloride (PVC)
- Medical Foam Application Outlook (Revenue, USD Million, 2016 - 2027)
- Bedding & Cushioning
- Medical Packaging
- Medical Devices & Components
- Prosthetics & Wound Care
- Medical Foam Regional Outlook (Revenue, USD Million, 2016 - 2027)
- North America
- The U.S.
- The U.K
- Asia Pacific
- Central & South America
- Middle East & Africa
- Saudi Arabia
- List of Key Players of Medical Foam Market
- General Plastics Manufacturing Company, Inc.
- Huntsman International LLC.
- Sekisui Chemical Co., Ltd.
- UFP Technologies, Inc.
- Zotefoams plc
- Avery Dennison Corporation
- Rogers Corporation
- Foamtec Medical.
Find more research reports on Plastics, Polymers & Resins Industry, by Grand View Research:
- Extruded Polypropylene Foam Market – The global extruded polypropylene foam market size was estimated at USD 582.6 million in 2016. Growing demand for light weight automobiles and eco-friendly packaging materials driving growth.
- Structural Foam Market – The global structural foam market size was estimated at USD 25.41 billion in 2016. The rapid expansion of the building & construction industry is expected to be a key factor driving the industry growth.
- Metal Foam Market – The global metal foam market size was valued at USD 82.0 million in 2016. Metal foams are gaining widespread acceptance in infrastructure & construction, automotive, aerospace, and industrial.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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