"Global Medical Grade Silicone Rubber Market To Grow From USD 533 Million In 2020 To USD 893.8 Million By 2028"
Global Medical Grade Silicone Rubber Market
Rising prevalence of several diseases, disorders, viruses and illnesses across the globe, growing aged old population in several regions, rising importance of better healthcare services, growth in healthcare infrastructure in various regions as well as high demand for new medical equipment are the major factors fueling the growth of global medical grade silicone rubber market over the analysis timeframe. Further, increasing diseases among individuals from a young age, rising incidences of road accidents and other similar kind of mishaps as well as increasing disposable income of the individuals are also propelling the industry growth during the analysis timeframe. Moreover, rising demand for medical facilities and medical devices as well as equipments required to treat the patients due increasing need for greater medical infrastructure to cater the increasing population are also contributing to the growth of global medical grade silicone rubber market over the forecast duration.
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The global medical grade silicone rubber market is projected to reach USD 893.8 million by 2028, growing at a CAGR of 6.8%. Increasing demand from the medical devices industry, rising applications of disposables, prosthetics and implants are driving the growth of the global medical grade silicone rubber market.
Further, increasing healthcare infrastructure due to rising spending on the medical sector especially for research and development activities is creating further opportunities for the industry growth in the region. Also, rising prevalence of COVID-19 pandemic in the recent times infected a large number of people across several countries and proved to be fatal to a large number of people in the globe. A large number of people suffered from severe lung disorders and needed operations. Hospitals were filled with patients causing a lack of medical facilities and hence a crisis of medical facilities which has increased the demand the rubber to produce several medical equipments, not just for the patients, but also for the staff and doctors as well as other help providers, thereby propelling the rise of global medical grade silicone rubber market.
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Based on regional frame of reference, the North America Medical Grade Silicone Rubber Market witnessed significant gains over the recent years owing to their high expenditure in the sector.
North America dominated the market for medical grade silicone rubber in 2019, while Asia Pacific is set to grow at a highest CAGR due to growing affluent population. Key players of the global medical grade silicone rubber market include Dow Corning, Momentive Performance Materials Inc., Wacker Chemie AG, KCC Corporation, Shin-Etsu Chemical Co., Ltd., Elkem Silicones, NuSil Technology LLC, Primasil, Wynca Group, Saint-Gobain Performance Plastics among others.
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Key segments of the global medical grade silicone rubber market
Product Overview, 2018-2028 (USD Million)
Liquid Silicone Rubber
High Consistency Rubber
Application Overview, 2018-2028 (USD Million)
Prosthetics & Implants
Drug Delivery Systems
Regional Overview, 2018-2028 (USD Million)
Middle East & Africa
Who should buy this report?
The report on the global medical grade silicone rubber market is suitable for all the players across the value chain including product manufacturing companies, suppliers/distributors, R&D labs, CROs, healthcare organizations, medical reimbursement and insurance providers
Venture capitalists and investors looking for more information on the future outlook of the global medical grade silicone rubber market
Consultants, analysts, researchers, and academicians looking for insights shaping the global medical grade silicone rubber market
Some Major Points from TOC:
1.1. Introduction to the Study
1.2. Market Definition and Scope
1.3. Units, Currency, Conversions and Years Considered
1.4. Key Stakeholders
1.5. Key Questions Answered
2.2. Data Capture Sources
2.3. Market Size Estimation
2.4. Market Forecast
2.5. Data Triangulation
2.6. Assumptions and Limitations
3.2. Market Dynamics
3.3. COVID-19 Impact Analysis
3.4. Value Chain Analysis
3.5. Porter’s Five Forces Analysis
Medical Grade Silicone Rubber Market by Product, 2018-2028 (USD Million)
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