Medical Grade Silicone Market

Global Medical Grade Silicone Market is valued at USD 1.4 Billion in 2021 and expected to reach USD 1.84 Billion by 2028 with a CAGR of 4% over the forecast period.

Global Medical Grade Silicone Market: Global Size, Trends, Competitive, And Historical & Forecast Analysis, 2022-2029: Throughout the projected timeframe, the growing aging demographic, increased number of organ transplantations, as well as improved healthcare facilities, are expected to fuel the expansion of the market.

Scope-

Silicones operate both as an active agent and an intermediate product for internal application, in addition to being an excipient for exterior usage. Pharmaceutical quality silicone is a form of silicone that may be used in healthcare operations without causing harm. Silicone is a kind of synthetic rubber composed of silicon, oxygen, as well as other components. Pharmaceutical-grade silicone is employed in implanted and biodegradable medical equipment that must meet stringent function and security requirements whenever in proximity to the living body.

Healthcare Grade Silicone tools include heart machines, defibrillators, and surgical reconstructive elements that use silicone's biocompatible as well as hydrophobic qualities. It has achieved universal popularity due to its minimal toxicity and minimal likelihood of adverse biological responses. It is well-known for its tensile strength and resilience to heat, cold, as well as moisture. Silicone is frequently utilized in medical equipment including catheters, implantation, and prostheses. It is  also employed in therapeutic diagnostics that come into touch with the body, such as wound treatment, and surgeries.

COVID-19 Impact-

The COVID-19 outbreak has caused a worldwide rise in the need for medical goods and equipment. Rising cases globally have boosted the need for healthcare equipment and supplies including helmets, personal defense kits, facial shields, and basic medical gadgets to detect and limit the virus's transmission. As a result, there is a greater need for pharmaceutical-grade silicone, which is employed in self-protection packages as well as other medical equipment utilized in treatments and diagnostics. As a result, despite transportation constraints that rendered raw material supply and labor accessibility difficult, the worldwide pharmaceutical-grade silicone industry maintained stable demand throughout the lockdown period and is expected to boost over the coming years.

Key Players-

Some of the noteworthy players present in this market are -

• 3M
• Dow
• Shin-Etsu Chemical Co. Ltd
• Messe Düsseldorf GmbH
• Wacker Chemie AG
• Momentive
• Wynca Group
• Primasil Silicones Limited
• Zodiac Coating
• Specialty Silicone Fabricators Inc
• Kibaru Manufacturing Sdn Bhd
• Saint-Gobain Performance Plastics
• STOCKWELL ELASTOMERICS INC
• Apple Rubber Products

Segmentation-

By Form

• Gel
• Rubber
• Foam
• Sheet
• Block
• Others

By Application

• Respiratory Devices
• Medical Device Components
• Implants
• Orthopedic Components
• Medical Tapes
• Drug Delivery System
• Others

By End User

• Hospitals
• Clinics
• Research Institutes
• Others

By Regional & Country Level:

• North America

  • U.S.
  • Canada

• Europe

  • U.K.
  • France
  • Germany
  • Italy

• Asia Pacific

  • China
  • Japan
  • India
  • Southeast Asia

• Latin America

  • Brazil
  • Mexico

• Middle East and Africa

  • GCC
  • Africa
  • Rest of Middle East and Africa

Key Trends-

Increasing Medical Spending Worldwide and Rising Number of Cardiovascular Diseases are Some of the Major Factors Driving the Market Growth

Increasing medical spending in both developed and emerging nations will drive market expansion throughout the projected timeframe. Based on the Centers for Medicare & Medicaid Programs, healthcare expenditure is predicted to surpass US$ 6.2 trillion by 2028. Furthermore, increased healthcare spending may result in enhanced healthcare services, which can significantly improve human capital and boost productivity, resulting in enhanced economic performance.

The rising frequency of trauma accidents, osteoporosis, as well as cardiovascular disorders is one of the primary factors fuelling the development of the healthcare-grade silicone marketplace. According to the World Health Organization, around 37.3 million falls need medical treatment each year, with approximately 646,000 people die from falls worldwide. Furthermore, the benefits of pharmaceutical-grade silicone are projected to drive market expansion. Healthcare-quality silicone is utilized in implantation and reusable healthcare devices because it is less poisonous and causes fewer problems than metallic or other types of implants.

Market Restraints-

Stringent Government Regulations and Approvals are Expected To Hinder Market Growth:

Medical medication and device laws aim to ensure safety and effectiveness while also offering novel treatments. Regulation problems confront the United States and the European Union. The Food and Drug Administration (FDA) governs the United States, whereas the European Commission coordinates the legislation of 28 various nations that comprise the European Union.

The European Union oversees medicinal drug and device approvals via a structure of hierarchical and decentralized authorities spread throughout its Member States. While the FDA benefits from drug centralization and uniform rules. Regulations in different countries are a key impediment to the expansion of the pharmaceutical-grade silicone industry.

Geographical Terrain-

North America is Expected to Capture a Major Share in the Global Medical Grade Silicone Market:

Geographically, North America dominated the worldwide healthcare-grade silicone industry owing to the region's expanding production units. Nevertheless, the rapid expansion and expansion of the region's pharmaceutical industry will increase the use of healthcare devices as well as sophisticated component manufacture, which is expected to propel the regional industry considerably in the future years.

Additionally, industry participants have used lucrative ways to establish their presence in developing markets, consequently improving overall company prospects. For example, in January 2021, Momentive Performance Materials, Inc., a chemical firm located in the United States, announced the purchase of KCC Corporation, a chemical and automotive parts producer based in South Korea. Momentive was able to extend its company into new markets and improve its technical skills as a result of the transaction.

Asia Pacific is expected to Grow Significantly over the Forecast Period:

The increasing healthcare expenditures of the country's important countries, such as India and China, are attributed to the Asia Pacific regional expansion. Furthermore, the private sector is increasingly involved in the manufacture and marketing of healthcare equipment, machinery, and medicines in order to improve healthcare facilities, and structure, and provide high-quality therapy in the region's important economies.

Increasing product launches are expected to propel regional expansion. For instance, in December 2022, Freudenberg Medical unveiled a novel product, HelixFlex, at the CPhI and PMEC India. According to the manufacturer, the technology is a high-purity thermoplastic elastomer TPE tube developed for utilization in biopharmaceutical fluid transmission operations. Freudenberg's current pharma product line of silicone tubing and equipment for bioprocessing, pharmaceutical, and vaccine manufacture, filling and testing, peristaltic pumping, and laboratory and healthcare gadget applications has been increased, according to the business.

 

News-

Quadion LLC, d.b.a. Minnesota Rubber and Plastics (MRP) Acquired Primasil Silicones Ltd. (Primasil), a Custom Silicone Adhesive Compounder, Mixer, And Producer

On March 7^th, 2022; Quadion LLC, d.b.a. Minnesota Rubber and Plastics (MRP), a foremost supplier of heavily designed elastomer as well as thermoplastic alternatives for the healthcare, water, and specialized industrial finished markets, announced the purchase of Primasil Silicones Ltd. (Primasil), a custom silicone adhesive compounder, mixer, and producer centered in Weobley, U.K., specializing in the healthcare, HVAC, and specialty manufacturing end markets.

Elkem Silicones Launched Newest Dedicated Factory For Manufacturing High Purity Healthcare Silicones in York, S.C.

On September 28^th, 2022; Elkem Silicones announced the official opening of its newest dedicated factory for manufacturing high-purity healthcare silicones in York, S.C. This new 18,000 sq. ft. location is designed to create high-purity silicone compounds that fulfill the criteria of the MedTech and Pharma markets, and it includes ISO-certified Class 7 and Class 8 clean rooms. This site's processes are governed by a single quality administration framework that complies with ISO 9001, and ISO 13485, as well as IPEC Good Manufacturing Practice (GMP) principles.

B9Creations Launched BioRes - Silicone, a novel elastomeric resin

On January 18^th, 2022; B9Creations, a worldwide supplier of additive manufacturing technologies, introduced BioRes - Silicone, a novel elastomeric resin. This latest innovation to its biocompatible 3D printing substances allows for tailored medical and commercial tech solutions for pleasant skin contact items including headphones, hearing aids, wristbands, hearing aids, wearable accessories, silicone elements for medical equipment, and more. B9Creations' medical-grade silicone is ISO 90993 approved for up to 30 days of extended skin contact and offers a unique mix of biocompatibility, high accuracy, surface quality, and tear resistance.

Report Analysis	Details
Historical data	2016 - 2021
Forecast Period	2022 - 2029
Market Size in 2021:	USD 1.4 Billion
Base year considered	2021
Forecast Period CAGR %:	4%
Market Size Expected in 2028:	USD 1.84 Billion
Tables, Charts & Figures:	175
Pages	300
Companies	3M, Dow, Shin-Etsu Chemical Co., Ltd, Messe Düsseldorf GmbH, Wacker Chemie AG, Momentive, Wynca Group, Primasil Silicones Limited, Zodiac Coating, Specialty Silicone Fabricators, Inc, Kibaru Manufacturing Sdn Bhd, Saint-Gobain Performance Plastics, STOCKWELL ELASTOMERICS, INC, and Apple Rubber Products
Segments Covered	By Form, By Application, By End User
Regional Analysis	North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa