The global medical grade silicone rubber market was valued at USD 533 million in 2020 and is projected to grow at a CAGR of 6.8% during the forecast period. Factors driving the growth of the medical grade silicone rubber market include increasing demand from the medical devices industry, rising applications of disposables, prosthetics and implants.
The global medical grade silicone rubber market is segmented based on product and application. On the basis of product, the market is segmented into liquid silicone rubber and high consistency rubber. The liquid silicone rubber was the largest market of the medical grade silicone rubber market in 2019. By application, the market is segmented into prosthetics & implants, disposables, catheter, surgical instruments, drug delivery systems and others. The prosthetics & implants segment accounted for the largest share of the global medical grade silicone rubber market and is projected to sustain its dominance over the forecast period.
At a compound annual growth rate of 24.98%, the size of the worldwide Medical Grade Silicone Rubber market is projected to reach 23.8 billion in 2030.
.jpg "The Global Medical Grade Silicone Rubber Market 2020-2030 (USD Billion)")
Regionally, North America accounted for the largest market share of the global medical grade silicone rubber market attributable to increasing per capita healthcare spending. Leading 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.
Medical Grade Silicone Rubber Market Scope
| Metrics | Details |
| Base Year | 2022 |
| Historic Data | 2020-2021 |
| Forecast Period | 2022-2030 |
| Study Period | 2020-2030 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2030 | 23.8 billion |
| Growth Rate | CAGR of 24.98% during 2020-2030 |
| Segment Covered | By Type, By Application, Regions |
| Regions Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Key Players Profiled | Dow corning, Wacker Chemie AG, Shin-Etsu Chemical Co.Ltd, Momentive, Bluestar Silicones, 3M Company, Elkem ASA, DuPont, Stockwell Elastomerics, Primasil Silicones Limited, Dongguan City Betterly New Materials Co., Ltd, Avantor, BioPlexus, LLC, KCC Corporation, NSil Technology, Saint-Gobain Performance Plastics |
Key segments of the global medical grade silicone rubber market
Product Overview (USD Billion)
- Liquid Silicone Rubber
- High Consistency Rubber
Application Overview, (USD Billion)
- Prosthetics & Implants
- Disposables
- Catheter
- Surgical Instruments
- Drug Delivery Systems
- Others
Regional Overview, (USD Billion)
- North America
- U.S.
- Canada
- Europe
- Germany
- United Kingdom
- France
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- GCC
- South Africa
Reasons for the study
- Increasing prevalence of lifestyle-related disorders
- Rising demand for advanced healthcare services
- Growing needs of the aging population
What does the report include?
- The study on the global medical grade silicone rubber market includes qualitative factors such as drivers, restraints and opportunities
- The study covers qualitative and quantitative analysis of the market segmented on the basis of product and application. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments
- The study includes the profiles of key players in the market with a significant global and/or regional presence
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
Frequently Asked Questions (FAQ) :
the medical grade silicone rubber market is growing at a CAGR of 24.98 % during the forecast period.
North America dominated the market for medical grade silicone rubber market and accounted for the largest revenue share.
The base year for the report is 2022 in medical grade silicone rubber market
The burden of chronic diseases is increasing rapidly. Thus, this is resulting in more and more people requiring access to modern healthcare; whereas on the other hand the statutory requirements for medical products and services are becoming stricter. Thus, the healthcare industry is in a fix with respect to the safety and efficacy of its solutions.
The last two decades has seen groundbreaking innovations in prosthetics to regenerative research led by medical grade silicone rubber. Several of these developments are the outcome of years of association between scientists and surgeons at major universities and foundations around the world. Because of the numerous properties and benefits of silicone rubber, medical resources, hundreds of studies and innovations are beginning with it.
The medical grade silicone rubber used in prosthetics & implants dominated the market in 2019. In widespread tests, silicone rubbers have shown greater compatibility with human tissue and body fluids, and a negligible low tissue retort when embedded, in comparison to other elastomers. They do not influence microbial growth and do not stain or oxidize other materials. Silicones are fragrance-free, tasteless and are generally in line with the regulatory requirements for biocompatibility. Also, there are several medical devices that require silicone prototyping. Medical devices that are regularly cast in silicone comprise of cardiac catheters, drug delivery devices, valves, diaphragms, dental devices, ocular implants, laparoscopic lenses, handle over molds, medical device handles and equipment gaskets. Liquid silicone rubber continues to flourish with advancements that push beyond the boundaries of device functionality.
North America dominated the market for medical grade silicone rubber in 2019. Medical devices are a significant part of the U.S. health care industry. With the growing geriatric population and lifestyle disorders there is a surging demand for active implants and surgical equipment’s. These medical aid’s have the ability to change and affect the quality of a person’s life. Hence, the U.S. medical devices go through a stringent regulatory process in order to enter the market. Since, the inception of the regulation for medical devices in the 1970s, the U.S. the Food and Drug Administration has implemented several laws for medical device corporations which has propelled the industry’s growth. In countries like India the medical devices sector is relatively small unlike the rest of the manufacturing industry, though it stands in the top twenty markets for medical devices globally. Moreover, it has also entered the regulatory regime since 2017. Medical device industry in India is largely import driven accounting for above 65% of the total market.