Global medical grade silicone market forecast at $3.5 billion by 2033

Pune, India – The global medical grade silicone market is expected to reach a valuation of US$ 2.0 billion in 2023 and is expected to grow at a CAGR of 5.8% during the forecast period of 2023–2033 according to FACT.MR

Medical-grade silicone is widely used in the manufacturing of various medical devices, including catheters, respiratory masks, wound care products, and prosthetics. Silicone is a preferred material in the healthcare industry due to its biocompatibility, durability, and flexibility making it an ideal material for these applications, leading to a rise in its adoption.

With an aging population, the prevalence of chronic diseases and the need for surgical interventions are increasing. Medical-grade silicone is extensively used in surgical implants, such as breast implants and joint replacements, due to its durability, compatibility with body tissues, and low risk of rejection. As the elderly population continues to expand, the demand for such medical devices is expected to rise, thereby driving the market for medical-grade silicone.

Market players dominating the market include 3M, Avantor, Dow Corning, DuPont, Elkem, Evonik, KCC Group, Momentive Performance Material, Shin-Etsu, Wacker- Chemie.