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Medical Processing Seals (MPS) Market Size
Medical Processing Seals (MPS) Market will register significant growth between 2024 and 2032 due to the increasing frequency of product launches and events within the medical industry. With companies introducing new medical devices and equipment regularly, there is a heightened need for reliable sealing solutions to ensure safety and efficiency in medical processing.
For instance, in September 2023, Motan, a leading supplier of material-handling equipment, will exhibit the FDA-compliant Metro G line at the Fakuma tradeshow in Friedrichshafen, Germany. The Metro G loaders are compliant with FDA standards and feature specially designed seals on filters to guarantee safe processing in cleanrooms.
Additionally, events such as medical conferences and exhibitions serve as platforms for showcasing innovative products, further driving the demand for MPS. This trend underscores the vital role MPS plays in advancing medical technology and safety standards.
The Medical Processing Seals (MPS) market is witnessing heightened demand due to an increasing number of product contracts from industry leaders. Major players in the medical sector are increasingly relying on MPS for their sealing needs, driven by the necessity for reliable and high-performance sealing solutions in medical processing. As these leading companies secure more contracts for their products, the demand for MPS rises in tandem, highlighting the crucial role they play in ensuring the safety and efficacy of medical equipment and processes.
For instance, in February 2024, Freudenberg Sealing Technologies inked a new purchase agreement with Ypsomed, a Swiss medical technology expert, for seals used in portable insulin pumps. The volume specified in this agreement significantly surpassed the previous order. Peter Rohrer, a sales engineer at Freudenberg Sealing Technologies in Switzerland, noted, "Ypsomed initially anticipated a lower annual seal requirement.
Despite its growth, the Medical Processing Seals (MPS) market faces notable restraints. Regulatory hurdles, including stringent compliance standards such as FDA requirements, can impede market entry for new players. Additionally, the high cost of developing and maintaining medical-grade seals poses a challenge, limiting affordability for some healthcare facilities. Moreover, the complexity of medical processes and equipment necessitates continuous innovation, putting pressure on manufacturers to stay ahead technologically. Balancing regulatory compliance, cost-effectiveness, and innovation remains crucial for sustained growth in the MPS market.
Medical Processing Seals (MPS) Market Trends
The Medical Processing Seals (MPS) industry is witnessing significant trends driven by rising innovation and product launches. With a growing emphasis on improving patient care and safety, manufacturers are introducing advanced sealing solutions tailored to the unique needs of medical processing. Continuous innovation in materials, designs, and functionalities is enhancing the performance and reliability of MPS. Moreover, frequent product launches are expanding the market, offering healthcare facilities a wider array of options to ensure efficiency and compliance with stringent regulatory standards.
Quoting an instance, in September 2021, Bolder Surgical announced the global launch of its CoolSeal Vessel Sealing platform. The platform, initially introduced in the U.S. in October 2020, received international regulatory approvals, making it available in more than 20 countries worldwide. Bolder Surgical specializes in providing precision electrosurgical instruments to surgeons for performing minimally invasive surgeries safely and effectively across various procedures, including general, gynecological, and bariatric surgeries.
Medical Processing Seals (MPS) Market Analysis
With respect to materials, the silicone MPS industry will gain traction owing to growing preference over other elastomers. This can be ascribed to the higher suitability of the material in devices that have no close contact with the human body. Apart from limiting bacteria growth, silicone is known for its higher compatibility with body fluids and human tissue. Increasing the adoption of silicone O-rings to show extreme flexibility even in low ambient temperatures will act as a substantial driver for market growth.
Based on application segmentation, the MIPS market share from O-rings is likely to reach a significant value. This can be attributed to the growing utility of O-rings in several applications, like drug delivery devices, respiratory equipment, fluid transfer devices, and pumps. Due to their flexible usage, medical-grade O-rings are witnessing higher penetration in medical devices like valves, cylinders, and connectors. Benefits, such as affordability, ease of customization, extreme durability, as well as availability in all sizes & hardness, in line with higher adoption in dynamic and static applications, will favor the market expansion.
North America will record significant consumption of medical processing seals through 2032 owing to the promising advancements in the healthcare sector in the region. The considerable rise in consumption and thriving need for novel as well as innovative medical devices and equipment has paved the path for the robust presence of numerous medical equipment manufacturers, mainly in the U.S. Factors, like rising healthcare investments and hiking per capita medical expenditures, will also play a key role in expanding the regional market share.
Medical Processing Seals (MPS) Market Share
Major companies operating in the Medical Processing Seals (MPS) industry competitive landscape include:
- Kaman Acquisition Usa, Inc. (Bal Seal Engineering)
- Freudenberg & Co. KG (IDEX Corporation Freudenberg Group)
- Trelleborg Group
- Saint-Gobain – Omniseals
- Ace Seal & Rubber
- Marco Rubber & Plastics, LLC
- Sur-Seal
- Precision Polymer Engineering (IDEX Corporation, Seals Limited)
Medical Processing Seals (MPS) Industry News
In June 2021, IDEX Corporation (IEX) announced the completion of its acquisition of Rutherford, NJ-based Airtech Group, Inc., US Valve Corporation, and other entities. The transaction, valued at $470 million, was facilitated by an investment fund managed by EagleTree Capital. This buyout integrated Airtech's operations into IDEX's Health & Science Technology (“HST”) segment. HST specializes in precision fluidic solutions, including fittings, valves, pumps, and medical devices for life science applications. IDEX operates within five platforms, Gast, Scientific Fluidics & Optics, Material Processing Technologies, Sealing Solutions, and Micropump.