Medical Grade Silicone Market
Get a free sample of this report
Your inquiry has been received. Our team will reach out to you with the required details via email. To ensure that you don't miss their response, kindly remember to check your spam folder as well!
Form submitted successfully!
Error submitting form. Please try again.
Request Sectional Data
Your inquiry has been received. Our team will reach out to you with the required details via email. To ensure that you don't miss their response, kindly remember to check your spam folder as well!
Form submitted successfully!
Error submitting form. Please try again.
Medical Grade Silicone Market size was worth USD 1.5 billion in 2022. Driven by the growing number of cosmetic and plastic surgeries globally, the industry could exhibit a 6.5% CAGR by 2032.
Cosmetic and plastic surgeries have gained immense traction owing to the rising inclination of people towards improving their appearance through minimally invasive cosmetic procedures. As per the International Society of Aesthetic Plastic Surgery, over 1.9 million liposuction procedures were performed, in 2021, globally. As per the Centers for Medicare & Medicaid Services, in 2021, the overall healthcare spending in the U.S. witnessed a spike of 2.7%, reaching USD 4.3 trillion.
| Report Attribute | Details |
|---|---|
| Base Year: | 2022 |
| Medical Grade Silicone Market size in 2022: | USD 1.5 Billion |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 - 2032 CAGR: | 6.5 |
| 2023 Value Projection: | USD 2.7 Billion |
| Historical Data for: | 2018 to 2022 |
| No of Pages: | 132 |
| Tables, Charts & Figures: | 153 |
| Segments Covered: | Form, Application and Region |
| Growth Drivers: |
|
| Pitfalls Challenges: |
|
The market faced numerous consequences due to the COVID-19 pandemic, primarily attributed to the supply chain upheavals caused by tightening lockdown measures. Growing focus of healthcare organizations on reducing infection rates led to the postponement and cancellation of non-essential procedures, including cosmetic and plastic surgeries. However, the growing efforts by the government and healthcare organizations towards restoring surgical volumes through better postoperative care.
Rapid advancements in the dentistry sector will pave the path for industry progression. Silicone rubber is now being used in several dental procedures due to its excellent biocompatibility and tear resistance. In fact, modern silicone rubber materials used in dentistry have advanced formulations that offer precise replication of oral structures during the impression-making process. This contributes to better-fitting dental restorations and improved patient outcomes. Moreover, hydrophilic silicone rubber materials have also been developed, which can readily capture moisture and fluids present in the oral cavity.
Based on the form, the medical grade silicone market from rubber could reach more than USD 1.2 billion by 2032. High compatibility of silicon rubber with various sterilization methods will support segment expansion. Due to its superior flexibility and durability, silicone rubber can withstand repeated flexing and stretching without losing its shape or mechanical properties. This makes it suitable for medical applications that require materials to withstand dynamic movements, such as prosthetics, catheters, and tubing.
With respect to application, medical grade silicone market share from the medical device components segment will grow at 7% CAGR by 2032. The lightweight nature and biocompatibility of medical grade silicone have made it a preferred material for various surgical instruments. Moreover, it exhibits excellent resistance against chemicals, including common disinfectants, solvents, and bodily fluids. This resistance ensures that the material remains stable and does not degrade when exposed to various substances, preventing potential interactions or material breakdowns that could compromise the integrity and performance of medical device components.
On the regional front, the North America medical grade silicone market size was worth over USD 295 million in 2022. Growing prevalence of diabetes and cardiac arrests has increased the need for medical devices in the region, elevating the demand for medical-grade silicone. As per the CDC, around 37.3 million people in the U.S. have diabetes, which accounts for 11.3% of the country’s population. Moreover, rapidly expanding healthcare infrastructure coupled with the presence of leading industry players such as Bio Plexus, LLC.
Market Size, By Form
Market Size, By Application
The above information is provided for the following regions and countries:
Leading industry players include Wacker Chemie AG, Primasil Silicones Limited, Elkem ASA, Shinu-Estu Chemical Co., Ltd., and Momentive (KCC Corporation), among others.
North America industry size reached more than USD 295 million in 2022, attributed to the rising prevalence of cardiac arrests and diabetes in the region.
The market size from the rubber segment will reach over USD 1.2 billion by 2032, driven by the high compatibility of medical grade silicone rubber with various sterilization methods.
In 2022, the medical grade silicone industry was valued at USD 1.5 billion and will grow at 6.5% CAGR by 2032, attributed to the surging number of cosmetic and plastic surgeries globally.