Medical grade silicone market valued at $2 billion by 2030
Selbyville, DE – The medical grade silicone market value is set to cross USD 2 billion by 2030, according to a new research report by Global Market Insights Inc.
Growing preference towards enhancing appearance using minimally invasive cosmetic procedures has increased the usage of compounds such as silicone. Silicone can be converted into various topical forms. It can be applied on the skin as a gel or ointment and as gel sheeting. Medical-grade silicone is comfortable and soft to use. These polymers are also biocompatible, and their inertness makes them safer for use in long-term implants, thus increasing product acceptance.
Medical grade silicone market from gel form segment was worth USD 296 million in 2021. Silicone is transmuted into various topical forms, which expands its applicability. Silicone gel can promote the homeostasis of oxygen, induce hydration, and provide moisture on the skin’s surface. This enables scar tissue and dry skin to regain elasticity, tensile strength, and hydration after injury or damage. It will further promote the usage of medical-grade silicone gel in transdermal and topical wound treatment.
The foam form segment accounted for over 8% business share in 2021. Growing demand for the compound in wound care dressings has increased the adoption of silicone foams in hospital settings. These dressings provide an optimum condition for the wound to heal and avoid excessive damage. Moreover, silicone foam dressings avoid keloid and hypertrophic scarring, driving product consumption.
The implants application segment held 27.5% share of the medical grade silicone industry during 2021. Silicones are used in various implantable devices, due to their biocompatibility, durability, and stability. The compounds offer a wide range of durometers and provide excellent heat resistance. Medical-grade silicones are used for making cardiac pacemakers, drug delivery implants, orthopedic implants, and catheters, among other devices contributing to market development.
Regionally speaking, the Middle East & Africa medical grade silicone market is expected to depict over 5.5% CAGR between 2022-2030. This growth can be credited to the rising awareness regarding the advantages of this compound in prosthetic and orthopedic devices. Prosthetic device manufacturers use silicones for making artificial limbs owing to their comfort and mechanical properties. Silicone-based prosthetics are lightweight and provide excellent appearance and feel features, which may increase the consumption of the compound in the MEA region.
Some of the major players operating in the medical grade silicone market include Avantor Inc., Bio Plexus, LLC, Dongguan City Betterly New Materials Co., Ltd., Primasil Silicones Limited, and Shinu-Estu Chemical Co., Ltd. Some companies are unveiling new facilities to expand their operations.