The global medical grade silicone market was valued at USD 1.3 billion in 2021 and is projected to grow to USD 2.2 billion by 2031, at a CAGR of 5.5% during the forecast period.
Medical grade silicone is a type of silicone that is safe for use in medical applications. Silicone is a synthetic rubber made from silicon, oxygen and other elements. It is known for its durability and resistance to heat, cold and humidity. Medical grade silicone is commonly used in medical devices such as catheters, implants and prosthetics. It is also used in medical applications that come in contact with the body, such as wound care and surgery.
Market Trends and Drivers
The major factors driving the growth of this market include the growing demand for medical-grade silicone in the healthcare industry, the increasing use of medical-grade silicone in the manufacture of medical devices, the preference of silicone over other materials in the healthcare industry, and the growing demand for medical-grade silicone Awareness of the benefits of silicone continues to increase. The healthcare industry is the major end-use industry for medical grade silicones.
Growing demand for medical devices and growing preference for silicones in the healthcare industry are the major factors driving the growth of the medical grade silicones market in this end-use industry. The medical devices industry is expected to grow at a significant rate over the forecast period owing to increasing prevalence of chronic diseases and aging population. Silicones are widely used in the manufacture of medical devices due to their biocompatibility, flexibility, and thermal stability.
The automotive industry is another major end-use industry for medical grade silicone. The increasing use of medical-grade silicones in the manufacture of automotive components is driving the growth of the medical-grade silicones market in this end-use industry.
Auto parts made from medical-grade silicone offer superior performance and durability. They are also resistant to extreme temperatures, which makes them ideal for use in the automotive industry.
The COVID-19 pandemic has had a huge economic impact on both developed and developing countries. The outbreak of the pandemic has disrupted the operations of several small and large organizations across various sectors, including healthcare. Many diagnostic and surgical procedures have been delayed during the pandemic as healthcare organizations increasingly focus on treating those affected by COVID-19. This has slowed down the adoption of medical grade silicones, especially in the first few months of 2020, restraining the market growth to some extent.
Key Players in the Global Medical Grade Silicones Market
Key players in the market are Avantor, Inc., BioPlexus, LLC, Newtop, Primasil Silicones Limited, Shin-Etsu Chemical Co., and others.
Newtop is committed to helping and saving lives the silicone OEM way. We manufacture complex medical devices and assemblies (Class I and Class II medical devices) with the utmost passion for both low and high volume needs.
Medical components mean tighter product tolerances and a cleaner production environment. This is exactly what Newtop is doing. We combine the material properties of LSR (Liquid Silicone Rubber) with modern injection molding technology to manufacture products required by customers through clean room environment.
As one of the leading forces in China's medical device manufacturing, Xintuo has the most mature internal process and quality assurance system. Therefore, we can guarantee the quality of the products while offering the best prices to our customers.