Industry Background:
Silicone is a versatile material and hence Medical silicone is used in various applications such as biomedical, pharmaceutical, and health care industries. This silicone is tested by FDA and approved for biocompatibility. It is classified into three categories such as non-implantable, short term implantable, and long term implantable. The long term implantable are made to be implemented inside the body and is safe for food contact. Whereas, class Vl are applicable in menstrual cups, baby bottle nipples, and food and skin contact. These wide range of medical applications and benefits are fueling the market growth.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Dow Corning Corporation (United States), Wacker Chemie AG (Germany), 3M Company (United States), Shin-Etsu Chemical Co. Ltd. (Japan), Bluestar Silicones (France), NuSil Technology LLC (United States), Henkel AG & Co. (Germany), Momentive Performance Materials Inc. (United States), Specialty Silicone Fabricators, Inc. (United States) and Zodiac Coating (Germany) |
According to AMA, the market for Medical Silicone is expected to register a CAGR of 6.3% during the forecast period to 2030. This growth is primarily driven by Rising Implantable Devices Market, Increasing Geriatric Population and Growing Requirement of Disposable Devices.
Globally, a noticeable market trend is evident Technological Developments in Medical Implants
Major Players, such as Dow Corning Corporation (United States), Wacker Chemie AG (Germany), 3M Company (United States), Shin-Etsu Chemical Co. Ltd. (Japan), Bluestar Silicones (France), NuSil Technology LLC (United States), Henkel AG & Co. (Germany), Momentive Performance Materials Inc. (United States), Specialty Silicone Fabricators, Inc. (United States) and Zodiac Coating (Germany), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. Key players are adopting numerous strategies to gain market attention and to increase their market share, this strategy can be listed as increasing product portfolio, making partnerships to adopt certain technologies, and acquiring small players to finish the competition in the future. As well as investing money in the R&D sector to make technical upgrades to the product.
Key Developments in the Market:
In February 2024, Trelleborg Sealing Solutions signed an agreement to acquire Baron Group, a prominent Australian-Chinese company in the manufacturing of advanced precision silicone components.
In December 2020, 3M announced the next generation of silicone adhesives, 3M™ Hi-Tack Silicone Adhesive Tapes. This new adhesive provides engineers confidence with increased tack without painful removal.
Influencing Trend:
Technological Developments in Medical Implants and Advancements in Robotic Surgery
Market Growth Drivers:
Rising Implantable Devices Market, Increasing Geriatric Population and Growing Requirement of Disposable Devices
Challenges:
Rising Demand of Medical Silicone in Affordable Prices
Restraints:
Long Time Required for Approval, Rising Prices of Raw Materials and High Costs Associated with the Treatment
Opportunities:
Rising Chronic Diseases and Increasing Health Care Market in Developing Economies
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Medical Silicone Market
- Analysis about New Entrants in Medical Silicone Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Medical Silicone Study Sheds Light on
The Medical Silicone Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Medical Silicone industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Medical Silicone industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.