Medical Grade Silicone Market Analysis 2018 | Sales Strategy, Revenue Generation |Top 10 Key Players & Forecast to 2023

Global Medical Grade Silicone Market
Global Medical Grade Silicone Market Information: By Product (Elastomers, Gels, Medical Adhesives, Medical Coatings, And Others), Application (Medical Devices, Medical Tapes, Orthopedics, Prosthetics, And Contact Lenses), And Region Forecast Till 2023

Medical Grade Silicone Market

The medical grade silicone is extensively used in the manufacturing of medical devices such as feeding tubes, drains, catheters, medical electronic devices and assemblies, and seals & gaskets due to its superior properties such as heat resistance, flexibility, low chemical reactivity, and low toxicity. Some of the substantial and underlying market drivers identified in this market are growing geriatric population, cosmetic & plastic surgeries, medical implants, and increasing number of cardiovascular diseases. The use of silicone coatings on scalpel blade reduces friction and gives a smoother cut, which may drive the market growth for minimally invasive surgeries. Medical grade silicone is the biocompatible material used in the manufacturing of various medical devices owing to their healing capability, improving appearance of scars, and comforting properties. These silicones are classified into three categories namely non-implantable, short-term implantable, and long-term implantable.

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Global top 10 Key Players

Some of the prominent manufacturers in the global medical grade silicone market are 3M (U.S.), Saint-Gobain Performance Plastics (France), Koninklijke DSM N.V. (Netherlands), Momentive (U.S.), Zodiac Coating SAS (France), Trelleborg AB (Sweden), Shin-Etsu Chemical Co., Ltd (Japan), Nusil Technology LLC (U.S.), Henkel AG & Co. KGaA (Germany), Polymer Science, Inc. (U.S.), Applied Silicone Corporation (U.S.), Primasil Silicones Ltd. (U.K), and others.

Intended Audience

  • Medical grade silicone Manufacturers
  • Traders and distributors of medical grade silicone
  • Research and development institutes
  • Potential investors
  • Raw material suppliers
  • Nationalized laboratory

The product is also used in soft contact lenses, which are easier to adjust and more comfortable than the rigid gas permeable lenses. These contact lenses are made of silicone hydrogel to provide more oxygen to the eyes. Medical grade silicones are used in hydrocephalic shunts, antacid formulation, and topical formulations such as excipients. Furthermore, the demand for medical grade silicone in orthopedics and prosthetics is growing owing to increasing instances of sports injuries and accidents. The prosthetics and orthopedic are the most lucrative applications of the medical grade silicone on account of the technological development such as CAD/CAM dentistry (computer-aided design and computer-aided manufacturing) for enhancing the design and dental restoration. The U.S. Food and Drug Administration (FDA) regulates silicone as safe to be used in pharmaceuticals and certain food under Center for Drug Evaluation and Research (CDER) and Center for Food Safety and Nutrition (CFSAN) respectively, which in turn will witness demand for medical grade silicone in the fore coming years.

Regional Analysis

North America is the dominant region in the global medical grade silicone market in terms of both value and volume due to the technological advancements, growing elderly population, increased chronic diseases, and improved quality of healthcare facilities. This region is expected to remain dominant due to growing awareness about the product availability and the high disposable income over the review period.

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Segmentation

The global medical grade silicone market is segmented on the basis of the product, application, and region. On the basis of the product, the global medical grade silicone market is segmented into elastomers, gels, medical adhesives, medical coatings, and others. Based on the application, the global medical grade silicone market is segregated into medical devices, medical tapes, orthopedics, prosthetics, and contact lenses. Geographically, the global medical grade silicone market is spanned across five regions namely Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.

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