Market Overview:
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.
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. The product is also used in soft contact lenses, which are easier to adjust and more comfortable than the rigid gas permeable lenses.
Competitive Analysis:
Some of the manufacturers operating 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.
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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.
Medical Grade Silicone Market Competitive Landscape:
The Medical Grade Silicone market is fiercely competitive with several large and small players along with the new entrants forming a competitive landscape. Development of new product and technologies in the market are also expected to create substantial investment opportunities for the global players. Focused on improving their market performance, the market players are acquiring promising companies to expand in the fast-growing markets.
Industry/ Innovation/ Related News-
April 25, 2019 – Envision TEC (North America), a 3D-printing technology company introduced two – high-purity 3D-printing materials – liquid silicone rubber and biodegradable PCL polyester, appropriate to be used for implantable medical devices. These materials after fabrication of the parts on the company’s 3D-Bioplotter series printers can be implanted in humans.
Medical Grade Silicone Market Geographical Analysis
Globally, North America accounts for the dominating market for Medical Grade Silicone, holding the largest market share. Growing with the well-penetrated healthcare industry coupled with the presence of numerous matured manufacturers in the region the North America market is expected to continue with its dominance in the global market for Medical Grade Silicone during the forecast period.
Europe stands the second largest market for the Medical Grade Silicone, owing to the spurting healthcare industry in the region. Besides, the largest pharmaceutical space in the region coupled with the extensive use of medical grade silicone in surgeries and other medical procedures contribute to the regional market growth. Continuing with the same growth trends the region is expected to gain momentous accruals during the forecast period.
Whereas the Asia Pacific region accounts for the substantial market share, emerging as the fastest growing market in the Global Medical Grade Silicone Market.
Owing to the growing markets in some of the APAC countries like India, Japan, China and Australia, backed by the increasing demand for the products, the region is expected to register a phenomenal growth rate during the review period.
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Market 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.
Intended Audience-
- Medical grade silicone Manufacturers
- Traders and distributors of medical grade silicone
- Research and development institutes
- Potential investors
- Raw material suppliers
- Nationalized laboratory
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