Medical Grade Silicone Market Report 2024

The medical grade silicone market size has grown strongly in recent years. It will grow from $2.17 billion in 2023 to $2.36 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%. The growth observed in the historical period can be credited to increased healthcare spending, rigorous regulatory standards, rising prevalence of chronic diseases, an aging population, growing numbers of surgical procedures, and advancements in technology.

The medical grade silicone market size is expected to see strong growth in the next few years. It will grow to $3.31 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%. The growth anticipated in the forecast period can be attributed to emerging markets, personalized medicine, the integration of IoT and wearable devices, a focus on sustainability, telemedicine and remote monitoring, advancements in regenerative medicine, and increased collaboration within the industry. Key trends expected in this period include the adoption of smart materials, bioresorbable silicones, 3D printing, nano-coatings, minimally invasive surgical techniques, drug-eluting implants, and digital health solutions.

The increase in the production of medical devices and components is expected to drive the growth of the medical-grade silicone market in the future. Medical devices and components include instruments, apparatuses, implants, or other products used in healthcare to diagnose, prevent, monitor, treat, or alleviate disease or injury. The demand for these devices is primarily driven by the need for innovative solutions that offer accurate diagnoses and effective treatments. Additionally, the growing emphasis on preventive healthcare and the shift towards personalized medicine also boost the demand for specialized devices and diagnostic tools. Medical-grade silicone improves the performance and safety of medical devices and components by ensuring biocompatibility, durability, and regulatory compliance. For example, according to the Department of Health and Social Care, a UK-based government agency, the number of registered medical products with the Medicines and Healthcare Products Regulatory Agency (MHRA) increased from approximately 2.25 million in 2022 to around 3.25 million by April 2024. Therefore, the rise in medical device production is driving the medical-grade silicone market.

Leading companies in the medical-grade silicone market are developing advanced solutions, such as higher-adhesion silicone materials, to improve skin adhesion for advanced wound care and wearable medical devices. These materials are designed to adhere more effectively to various substrates, offering improved bonding strength and durability in applications such as sealants, adhesives, and coatings. For example, in October 2023, DuPont de Nemours Inc., a US-based manufacturer of chemicals and science-based products, launched DuPont Live MG 7-9960 soft skin adhesive. This product introduces a higher-adhesion, low-cyclic silicone soft skin adhesive (SSA) specifically designed for advanced wound care dressings and medical devices that need to adhere to the skin for extended periods. It aims to provide gentle adhesion, easy removal, and improved wear performance, addressing the needs of patients with sensitive or fragile skin, including children, the elderly, and those with skin conditions or wounds.

In May 2024, Wacker Chemie AG, a German company known for manufacturing chemical products, acquired Bio Med Sciences Inc. for an undisclosed sum. This acquisition is set to enhance Wacker's capabilities in researching and producing silicone-coated adhesive products, particularly advancing applications that adhere well to skin. Bio Med Sciences Inc., based in the US, specializes in manufacturing medical devices featuring silicone-coated products.

Major companies operating in the medical grade silicone market are Dow Inc., 3M Company, Shinu-Estu Chemical Co. Ltd., Evonik Industries AG, DuPont de Nemours Inc., Wacker Chemie AG, Avantor Inc., KCC Corporation, Trelleborg AB, Elkem ASA, Quantum Silicones LLC, Biomerics LLC, ACC Silicones Ltd., Momentive Performance Materials, Saint-Gobain Performance Plastics, NuSil Technology LLC, Applied Silicone Corporation, Silex Silicones Ltd., Stockwell Elastomerics Inc., Specialty Silicone Products Inc., Primasil Silicones Limited, Bio Plexus LLC, Dongguan City Betterly New Materials Co. Ltd, Wynca Group.

North America was the largest region in the medical grade silicone market in 2023. The regions covered in the medical grade silicone market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the medical grade silicone market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Medical grade silicone refers to silicone materials that meet strict standards and regulations for use in medical and healthcare settings. These materials are biocompatible, ensuring they are safe for use on or inside the body. They possess qualities such as flexibility, durability, and resistance to heat and chemicals, making them ideal for manufacturing medical devices, implants, and other healthcare products.

The primary types of medical-grade silicone include gels and elastomers, medical-grade silicone fluids, medical-grade silicone resins, and other variations. Gels and elastomers are flexible materials with a soft texture, suitable for applications requiring conformability and cushioning, such as wound care dressings and prosthetic devices. These materials find application across medical devices, pharmaceuticals, prosthetics and orthopedics, wound care, and other healthcare sectors. End users include hospitals, clinics, pharmaceutical firms, research institutions, and others.

The medical grade silicone market research report is one of a series of new reports that provides medical grade silicone market statistics, including medical grade silicone industry global market size, regional shares, competitors with an medical grade silicone market share, detailed medical grade silicone market segments, market trends and opportunities, and any further data you may need to thrive in the medical grade silicone industry. This medical grade silicone market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The medical-grade silicone market consists of sales of silicone-based orthotics and prosthetics, medical-grade silicone sheets, and medical tubing. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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