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.
Adroit Market Research report on global medical grade silicone rubber market gives a holistic view of the market from 2018 to 2028, which includes factors such as market drivers, restraints, opportunities and challenges. The market has been studied for historic years from 2018 to 2019, with the base year of estimation as 2020 and forecast from 2021 to 2028. The report covers the current status and future traits of the market at global as well as country level. In addition, the study also assesses the key players based on their product portfolio, geographic footprint, strategic initiatives and overall revenue. Prominent players operating in the global medical grade silicone rubber market have been studied in detail.
The world population is increasing ageing. At the same time, more and more people are gaining access to modern healthcare, resulting in increasingly strict legal requirements for medical products and services. Thus, the healthcare industry is in a tough spot with regards to the safety and efficiency of its solutions. Medical grade silicone rubber, plays a significant role in manufacturing today’s advanced healthcare products.
The global medical grade silicone rubber market is categorized 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 segment dominated the market in 2019. Liquid silicone rubber technology is gaining momentum, predominantly into advanced fields of applications. In life sciences, it is determined by a growing trend in the direction of self-treatment of chronic diseases.
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.
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
- Surgical Instruments
- Drug Delivery Systems
Regional Overview, 2018-2028 (USD Million)
- North America
- United Kingdom
- Asia Pacific
- Latin America
- Middle East & Africa
- South Africa