Medical Grade Silicone Market

Medical Grade Silicone Market Size (2023-2028):

The Medical Grade Silicone Market is forecasted to cross $1.73 billion by the end of 2028, with a CAGR of 5.9%.

Silicone is a highly adaptable formulated polymer that is widely used in sealants, cosmetics, cooking utensils, and glues. Its distinct attributes, such as flexibility and biocompatibility, are essential in medical technology. Tubes, dental retainers, implants for long and short-term use, respiratory masks, non-stick bags, menstrual cups, syringe pistons, seal & gasket, gel sheets for scar treatment, and other medical devices use medical-grade silicone.

Medical-grade silicones are silicones that are used in medical devices that have undergone extensive testing for biocompatibility. Instruments with critical functions, such as defibrillators, heat pumps, and surgical reconstructive components, use Medical Grade Silicone because of its biocompatibility and hydrophobic properties. Because of its low toxicity and low chance of unfavorable biological reactions, it has achieved widespread acceptance. 

With the aging population of North America, there has been a rise in demand for high-grade silicone, which has contributed to an increase in demand for emerging medical technology. Growing customer awareness of commercially available products, the introduction of improved surgical procedures, and the growth of healthcare facilities in the United States are projected to open new avenues for medical products in the United States, rising demand for medical silicone in the industry.

Recent Developments 

• Dow Corning Company released Dow Corning MG 7-1010 Soft Skin Adhesive, the toughest silicone soft skin adhesive for portable medical devices, in November 2016. Dow Corning's vast range of silicone-based adhesives was extended with the introduction of this new label.

• -Shin-Etsu Chemical Co., Ltd. is extending its silicones market by opening a plant in Japan in October 2016. In addition, the firm is extending its technical center in Japan, which provides silicone rubber molding and manufacturing facilities. This extension would help satisfy the growing need for silicone in medical devices.

Medical Grade Silicone Market Drivers

Due to its excellent conductivity, tensility, long life cycle, and thermal tolerance, medical-grade silicone is in high demand. Because of their biocompatibility and hydrophobicity properties, medical-grade silicone is being more widely used in defibrillators, cardiac pumps, and surgical reconstructive parts. Because of its low weight and attractive look, silicone is used to manufacture prosthetics and orthopedic instruments. Furthermore, an increase in the incidence of osteoporosis is anticipated to intensify the demand for prosthetics and orthopedic implants, boosting business development. Furthermore, the growing demand for medical-grade silicone has arisen from the surge in disposable product demand.

Medical Grade Silicone Market Restraints

Regulations differ from country to country; price rises in raw materials, stringent regulatory policies, and a time-consuming approval process are the restraint factors of the Medical Grade Silicone Market. Furthermore, the growing demand for thermoplastic elastomers (TPE) in the healthcare industry is expected to limit the growth of silicone elastomers, which hindered the market's growth.

Medical Grade Silicone Market Opportunities

The increasing use of high-consistency silicone elastomers in extrusion applications is expected to increase demand due to numerous properties offered, such as green strength, which is needed to retain extruded profiles before vulcanized, which is expected to stimulate demand over the forecast period. Furthermore, in the near future, the global harmonization of standards and regulatory criteria is expected to aid overall progress. Because of technical advances such as CAD/CAM dentistry (computer-aided design and computer-aided manufacturing) for optimizing design and dental reconstruction, prosthetics and orthopedics are the most profitable uses of medical-grade silicone. The Center for Drug Assessment and Analysis (CDER) and the Center for Food Safety and Nutrition (CFSAN) of the United States Food and Drug Administration (FDA) control silicone as safe for use in pharmaceuticals and some foods, respectively, which will fuel demand for medical-grade silicone in the coming years.

MEDICAL GRADE SILICONE MARKET REPORT COVERAGE:

Medical Grade Silicone Market Segmentation

Based on Type

• Gels
• Medical Adhesives             
• Medical Coatings               
• Liquid Silicone Rubbers (LSR)          
• Elastomers
• Foams

Gels segment is leading with the dominant shares of the medical grade silicone market. Silicone gel is widely used in a variety of applications, from prosthetics and implants to highly sticky gels for topical and transdermal wound care. They're even used for things like skin pads and comfort pads in the medical sector. Silicone gel sheets for the treatment of large scars that need to be secured and sealed are one of the most recent advances in the use of silicone gel.

Based on Application

• Prosthetics (limbs & implants)        

• Orthopedic Components  

• Medical Devices 

• Medical Tapes    

By application, the prosthetics segment is rising at a CAGR of 5.3 percent. In the prosthetics industry, new technological innovations such as CAD/CAM (computer-aided design and computer-aided manufacturing) are being used to improve the design and production of dental restorations, especially dental prostheses such as crowns crown lays, veneers, and orthodontic appliances.

Based on Region

• North America

• Asia Pacific

• Europe

• Latin America

• The Middle East and Africa

The medical-grade silicone market in North America is expanding at a rapid pace. The presence of strong manufacturing bases and the rapid growth of the healthcare industry in the United States are expected to increase the use of medical devices and components, which will fuel demand in the coming years. Demographic changes in the region are boosting the healthcare industry's growth, which is expected to boost medical silicone consumption in the prosthetic and orthopedic part markets. Furthermore, population changes in the area are supporting the growth of the healthcare sector, which is expected to drive medical silicone consumption in the prosthetic and orthopedic product industries. Due to the widespread use of medical-grade silicone in surgeries and other medical procedures, Europe is expected to witness substantial growth in the medical-grade silicone industry. Due to applications such as prefilled syringes, prosthetics, surgical implants, catheters, and medical tapes, Asia Pacific is expected to be a rapidly growing medical-grade silicone market. The market is expected to expand as the private sector invests more in the manufacturing and distribution of medical supplies, equipment, and pharmaceuticals to develop healthcare facilities, and infrastructure and provide high-quality treatment in countries such as China, Japan, India, Singapore, and Australia.

Impact of COVID-19 on the Medical Grade Silicone Market:

COVID-19 is an unprecedented global public health crisis that has impacted nearly every sector, with long-term consequences that are expected to stifle industry growth over the forecast period. The worldwide demand for medical supplies and services has increased as a result of the COVID-19 pandemic. The need for medical equipment and materials such as gloves, personal security kits, face guards, and basic medical instruments has grown as the number of cases has risen across the world. As a result, medical-grade silicone is in higher demand, as it is used in personal safety kits and other medical devices that are used for care and diagnosis. As a result, despite transportation constraints that rendered raw material supply and labor availability a huge challenge, the global medical-grade silicone industry has continued to see steady demand throughout the lockdown period. Aside from that, growing applications in healthcare and other fields such as cosmetics present a potential opportunity for industrial manufacturers in the immediate future.

Key Players of the Medical Grade Silicone Market:

1. 3M 

2. DuPont & Dow 

3. Albright Technologies

4. Primasil Silicones Ltd.

5. FLEXAN LLC. 

6. Elkem Silicones

7. Point Medical Corporation

8. Silicone Altimex

9. Vesta Inc.

10. Shin-Etsu Chemical Co., Ltd.