Jan 11, 2022/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Medical Grade Silicone Market.
It was estimated prior to this unanticipated outbreak that the Medical Grade Silicone Market is likely to witness an impressive CAGR of 7.2% during the forecast period. Growing healthcare industry and the fast-growing prosthetics and orthopedic applications drive the medical grade silicone market globally.
Medical grade silicones are enormously malleable to differences in terms of application, property, and state. They can be manufactured with preferred properties, such as rigid solid form to little viscosity liquid form, by changing the chain length and chemical structure. Silicone gels are increasingly being employed in the healthcare industry for various medical applications, which range from very soft gels for prosthetic and implant applications, to very gluey gels for topical and transdermal wound upkeep applications. Silicone gels find use to help thwart scars in freshly healed wounds and also reduce protuberant immature scars.
Medical Grade Silicone is a silicone type that is biocompatibility tested and is used in a number of medical applications.
Medical Grade Silicone is available in different forms such as gels, medical adhesives, elastomers, and many others. Prosthetics, medical devices, medical tapes, and other are the application options where medical grade silicone is used.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Segment Analysis
Based on the application type, the market is segmented as prosthetics, orthopedic components, medical devices, medical tapes, contact lenses, and others. The prosthetics and the orthopedic segments are the largest and the fastest-growing segments, owing to their remarkable properties, such as flexibility, elasticity, and elevated-thermal stability.
In terms of regions, Asia-Pacific is expected to dominate the medical grade silicone market in the coming five years. China and India are the growth engines of the region. The market is driven by the growing awareness about healthcare and the growth in prosthetics and orthopedic applications. North America and Europe are also expected to offer sizeable growth opportunities during the forecast period.
Key Players:
Key players operating in the global Medical Grade Silicone market are-
- DOW Corning Corporation,
- Wacker Chemie AG,
- The 3M Company,
- Shin-Etsu Chemical Co. Ltd.,
- Nusil Technology LLC,
- Henkel AG & Co.,
- Momentive Performance Materials Inc.,
- Specialty Silicone Fabricators, Inc.,
- Wynca Group,
- Primasil Silicones Limited.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Medical Grade Silicone analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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