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.
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.
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.
Leading industry players include Wacker Chemie AG, Primasil Silicones Limited, Elkem ASA, Shinu-Estu Chemical Co., Ltd., and Momentive (KCC Corporation), among others.