Medical Procesasing Seals Market Worth $1.8 Billion Global Forecast to 2023


Posted September 27, 2021 by abhijeetw1

The report "Medical Processing Seals Market by Material ( Silicone, EPDM, Metals, PTFE, Nitrile Rubber), Type (O-Rings, Gaskets, Lip Seals), Application (Medical Equipment and Medical Devices), and Region - Global Forecast to 2023"

 
The medical processing seals market size is estimated at USD 1.4 billion in 2018 and is projected to reach USD 1.8 billion by 2023, at a CAGR of 5.0%. The global medical processing seals industry is witnessing growth because of increasing demand from applications such as medical equipment & devices, technological advancements, and increasing demand in APAC, mainly from India, China, Korea, and the Southeast Asian countries.

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Medical equipment is the largest application segment of the medical processing seals market.
The medical equipment application dominated the total market in 2017. The increasing global demand for medical equipment due to growth of the healthcare industry and healthcare infrastructure is expected to drive the market. Medical equipment is used in the medical industry for a life support system and to release the patient from chronic pain.

O-rings dominate the medical processing seals market by type
O-rings are universally used in medical equipment & devices owing to their low cost. O-rings are used in different types of dynamic and static applications in the medical industry. Static applications such as fluid or gas sealing applications majorly consume O-rings.

♦ Leading Key Players -

IDEX Corporation (US), Saint-Gobain S.A. (France), Freudenberg Group (Germany), Trelleborg AB (Sweden), Parker Hannifin Corp (US), Minnesota Rubber and Plastics (US), Marco Rubber & Plastic Products, LLC (US), Morgan Advanced Materials Plc (UK), Bal Seal Engineering, Inc. (US), and Techno AD Ltd (Israel) are the key players operating in the market.

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Issued By MNM
Country India
Categories Business
Tags medical , medical processing seals , medical processing seals market , medical processing seals market share , medical processing seals market size
Last Updated September 27, 2021