The global medical grade silicone market size was valued at USD 337.10 million in 2020 and is expected to register a CAGR of 6.8% from 2021 to 2028.
Medical Grade Silicone Market Overview
The global medical grade silicone market size was valued at USD 337.10 million in 2020 and is expected to register a CAGR of 6.8% from 2021 to 2028. Silicone is a polymer compound that is widely employed in the production of a wide range of items, including cosmetics, electronics, and healthcare. Surgical instruments, prosthetic limbs, and other medical devices are all made of silicone. This is because of its superior mechanical qualities, which include high strength, flexibility, and long-term durability. Silicone is also used in the manufacture of soft contact lenses that are more comfortable than hard gas permeable lenses.
Medical Grade Silicone is a biocompatible material that is utilized in the manufacture of a variety of medical devices due to its ability to heal, improve the appearance of scars, and provide comfort. It is also commonly utilized in the production of hydrocephalus shunts, which aid in the drainage of excess fluid from the brain. Owing to the rising number of sports injuries and accidents, medical grade silicone is in high demand in orthopedics and prosthetics, driving the market growth.
Some of the prominent manufacturers in the global medical grade silicone market are
Market Synopsis:Medical grade silicone is the biocompatible material used in the manufacturing of various medical devices owing to their healing capability, improving appearance of scars, and comforting properties. These silicones are classified into three categories namely non-implantable, short-term implantable, and long-term implantable.
The medical grade silicone is extensively used in the manufacturing of medical devices such as feeding tubes, drains, catheters, medical electronic devices and assemblies, and seals & gaskets due to its superior properties such as heat resistance, flexibility, low chemical reactivity, and low toxicity. Some of the substantial and underlying market drivers identified in this market are growing geriatric population, cosmetic & plastic surgeries, medical implants, and increasing number of cardiovascular diseases. The use of silicone coatings on scalpel blade reduces friction and gives a smoother cut, which may drive the market growth for minimally invasive surgeries. The product is also used in soft contact lenses, which are easier to adjust and more comfortable than the rigid gas permeable lenses. These contact lenses are made of silicone hydrogel to provide more oxygen to the eyes. Medical grade silicones are used in hydrocephalic shunts, antacid formulation, and topical formulations such as excipients. Furthermore, the demand for medical grade silicone in orthopedics and prosthetics is growing owing to increasing instances of sports injuries and accidents. The prosthetics and orthopedic are the most lucrative applications of the medical grade silicone on account of the technological development such as CAD/CAM dentistry (computer-aided design and computer-aided manufacturing) for enhancing the design and dental restoration. The U.S. Food and Drug Administration (FDA) regulates silicone as safe to be used in pharmaceuticals and certain food under Center for Drug Evaluation and Research (CDER) and Center for Food Safety and Nutrition (CFSAN) respectively, which in turn will witness demand for medical grade silicone in the fore coming years.
Global Medical Grade Silicone Share, by the Application (%)
The global medical grade silicone market is segmented into five regions North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa.
North America is the dominant region in the global medical grade silicone market in terms of both value and volume due to the technological advancements, growing elderly population, increased chronic diseases, and improved quality of healthcare facilities. This region is expected to remain dominant due to growing awareness about the product availability and the high disposable income over the review period.
The Asia Pacific is the fastest emerging region in the medical grade silicone market due to the increasing demand for the medical grade silicone products across countries such as China, India, Japan, and Australia.
Europe is one of the largest pharmaceutical regions and is likely to showcase a considerable growth in the medical grade silicone due to the extensive use of these products in surgeries and other medical procedures.
The growing use of medical devices in GCC countries is likely to propel the market growth during the review period.Recent Development
Elkem is renovating its silicone manufacturing facility in France in order to alleviate a raw materials supply chain bottleneck. The corporation is investing about 36 million euros in its Roussillon, France, facility to increase production. Higher materials efficiency, more energy-efficient processes, reducing waste, and state-of-the-art water effluents treatment are all part of the investment plan. This is the greatest organic investment project in a decade for Elkem's European silicones division.
Prayasta, a deeptech-in-manufacturing startup that creates individualized breast implants and prostheses, is now focusing on other tissues such as the chin, pectorals, lips, and nose. Breast cancer is becoming a significant worry for women all over the world. Mastectomy surgery, which involves the removal of all or part of a woman's breasts, is often used to treat or prevent this condition, causing depression among breast cancer survivors. To achieve the goal of personalization and help women feel comfortable, the company created an entirely new silicone printer.
|Market Size||2030 : Significant value|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Product, Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||3M (U.S.), Saint-Gobain Performance Plastics (France), Koninklijke DSM N.V. (Netherlands), Momentive (U.S.), Zodiac Coating SAS (France), Trelleborg AB (Sweden), Shin-Etsu Chemical Co., Ltd (Japan), Nusil Technology LLC (U.S.), Henkel AG & Co. KGaA (Germany), Polymer Science, Inc. (U.S.), Applied Silicone Corporation (U.S.), Primasil Silicones Ltd. (U.K)|
|Key Market Opportunities||Growing use of medical devices|
|Key Market Drivers||
North America would make the maximum impact on the medical-grade silicone market.
Players with high impact value for the medical-grade silicone market are Koninklijke DSM N.V. (Netherlands), 3M (U.S.), Saint-Gobain Performance Plastics (France), Zodiac Coating SAS (France), Momentive (U.S.), Shin-Etsu Chemical Co., Ltd (Japan), Trelleborg AB (Sweden), Henkel AG & Co. KGaA (Germany), Nusil Technology LLC (U.S.), Applied Silicone Corporation (U.S.), Primasil Silicones Ltd. (U.K), Polymer Science, Inc. (U.S.), and others.
Strategies like acquisition, product launch, collaboration, a surge in R&D investment, merger, brand positioning, innovation, and others would help the medical-grade silicon market players in taking the market ahead.
The high price of the end product and delay in clearance of products would impact the medical-grade silicone market growth.
Increasing demand for minimally-invasive surgeries and reduction in friction would help the medical-grade silicon market gain high traction.