ID: MRFR/CnM/8215-HCR | February 2021 | Region: Global | 140 pages
Medical Foam Market is expected to register a CAGR of over 6% to reach around USD 38 Billion by the end of 2027.
The growing demand for high-quality medical products has resulted in the increased use of medical foam in numerous applications, including wound dressings, sealing of medical device LCD screens, medical device cushioning, prosthetic padding, and custom orthotics, among others. Medical foam is lightweight and possesses superior properties, including flexibility, absorbance, stretchability, fungal resistance, stain resistance, low outgassing, excellent compression-set resistance, impact absorption, and durability.
The expanding pharmaceuticals industry in both developed and developing economies with increased spending on healthcare infrastructure coupled with increasing healthcare awareness and rising geriatric population are key drivers for the growth of the medical foam market. The growing demand for implantable medical devices on account of technological advancements and increasing awareness is also likely to propel the market growth at a significant rate during the review period.
Furthermore, the increasing demand for sustainable packaging materials in the medical industry is expected to create lucrative opportunities for the players operating in the global medical foam market.
However, fluctuations in the price of raw material are likely to affect market growth during the review period.
Polyurethane foam is manufactured using isocyanate and polyol. Exposure to isocyanates and polyols can be hazardous for human health and the environment, as a result of which the use of isocyanates and polyols is regulated by the US Environmental Protection Agency (EPA). This is likely to affect the manufacturing of polyurethane foam and, thus, medical foam.
|Market Size||2027: USD 38 Billion|
|CAGR||6.1 % (2020-2027)|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Form, Material, Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||UFP Technologies (US),SEKISUI CHEMICAL CO., LTD., Softlon (Japan), Huntsman International LLC, Rubinate & Suprasec (US), Trelleborg, Confor (Sweden), RECTICEL (Belgium), INOAC CORPORATION (Japan), FXI HOLDINGS, INC. (US), ARMACELL LLC (Germany), Rogers Foam Corporation (US), Freudenberg Group (Germany), Mölnlycke Health Care (Sweden)|
|Key Market Opportunities||Increasing demand for sustainable packaging materials in the medical industry|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
Medical Foam Market is expected to record a CAGR of 6% by the end of 2027.
Medical Foam Market is estimated hold a substantial value of worth USD 38 billion by the end of 2027.
The most crucial factors augmenting the global medical foam market are the increasing demand for implantable medical devices and the growing strength of pharmaceutical sector.
The fluctuation caused in the prices of raw material is estimated to influence the market negatively.
The most renowned players of the global medical foam market are UFP Technologies (US), SEKISUI CHEMICAL CO., LTD., Softlon (Japan), Mölnlycke Health Care (Sweden), Huntsman International LLC, Rubinate & Suprasec (US), Freudenberg Group (Germany), Trelleborg, Confor (Sweden), Rogers Foam Corporation (US), RECTICEL (Belgium), ARMACELL LLC (Germany), FXI HOLDINGS, INC. (US), and INOAC CORPORATION (Japan).