Medical Grade Silicone Market Size By Form (Gel, Rubber, Foam, Sheet, Block), By Application (Respiratory Devices, Medical Device Components, Implants, Orthopedic Forms), Industry Analysis Report, Growth Potential, Competitive Market Share & Forecast, 202

Medical Grade Silicone Market Size By Form (Gel, Rubber, Foam, Sheet, Block), By Application (Respiratory Devices, Medical Device Components, Implants, Orthopedic Forms), Industry Analysis Report, Growth Potential, Competitive Market Share & Forecast, 2022 - 2030

The global medical grade silicone market is anticipated to register appreciable proceeds over the forecast period, as a result of the growing preference for plastic and cosmetic surgeries.

Many people are opting for plastic surgeries to redesign the body contour and enhance appearance. As per the American Society of Plastic Surgeons (ASPS), over 13.3 million minimally invasive cosmetic procedures were performed in 2020.

Furthermore, data from the ASPS also revealed that the five most popular surgical procedures are breast augmentation, liposuction, buttock lift, rhinoplasty, and facelift. The rise in demand for plastic surgeries to maintain a youthful appearance will thus increase the use of medical grade silicone in cosmetic applications.

Some companies have also unveiled novel technologies to foster innovation in medical grade silicone products. For instance, in August 2021, Stockwell Elastomeric, Inc. set up competence to laminate 3M9667MP acrylic adhesive into ultra-thin Togers BISCO HT-600 series silicone rubber. This rubber was intended for use in manufacturing ultra-thin gaskets and to improve the company’s product capabilities.

The medical grade silicone market is bifurcated in terms of form, application, and region.

With regard to the form, industry share from the block segment was worth over USD 93.5 million in 2021, due to the robust resistance offered by the product against external factors including oxygen, UV radiation, and a wide range of temperatures. Medical professionals need devices and equipment that are durable and can sustain high temperatures during the process of sterilization, further contributing to product acceptance.

The medical grade silicone market share from the orthopedic products application segment recorded revenue of over USD 259 million 2021. The growing occurrence of orthopedic disorders such as degenerative bone disease, in addition to the surge in road accident cases, has increased the demand for implant procedures.

Silicone-based implants are soft, lightweight, and offer ample comfort to patients, making them the preferred option for such procedures. Furthermore, their biocompatibility and chemical inertness ensures that the waste management is optimal, further fostering the use of medical grade silicone for implants.

From a regional purview, the North America medical grade silicone market was valued at over USD 281 million in 2021, on account of the presence of major healthcare facilities in the region. Additionally, increased healthcare expenditure along with the growing occurrence of cardiovascular disorders and diabetes will increase the demand for medical devices and augment regional market size over the forthcoming years.

Furthermore, the Latin America medical grade silicone industry recorded remuneration worth more than USD 160 million in 2021. Rising healthcare spending and supportive regulatory programs for the healthcare sector have increased the demand for medical-grade materials, including silicone. Moreover, the growing availability of affordable medical devices will expedite market growth in the region.