Technological Advancements to Play a Key Role in Growth of Medical Grade Silicone Market

 The growing importance of regulatory requirements in the medtech space across various regions has given impetus to a certain group of medical grade silicone market participants. One of these contenders includes Elkem Silicones, which believes that securing a supply chain of companies that a medical device manufacturer can turn to for support is a valuable asset.

In an environment powered by continuous amendments and changes to rules, such companies are of particular help to medtech manufacturers in proving compliance to regional regulations for the debut of products in the specified area. Owing to these developments, the global medical grade silicone market is anticipated to cross a valuation of USD 2 billion by 2028, as cited by the latest research conducted by Global Market Insights Inc.

Given below are some of the key advancements that are poised to create vital opportunities for business expansion over the coming years:

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1# Dermatology sector records an increase in silicone usage

The wide applicability of silicone in cosmetic surgeries and a diverse range of topical forms is expected to open lucrative avenues for market expansion across the dermatology sector. While viscous silicone can be applied to the skin as a gel or an ointment, the solid alternative called silicone ointment or gel has a rubbery consistency and texture.

Additional drivers impelling silicone usage comprise its abilities to induce hydration and promote a homeostatis of moisture and oxygen on the skin surface. The homeostatis enables scar tissue and dry skin to regain tensile strength, hydration, or elasticity after injury or damage.

Browse key industry insights spread across 145 pages with 134 market data tables & 10 figures & charts from the report, “Medical Grade Silicone Market Forecasts By Form (Gel, Rubber, Foam, Sheet, Block), Application (Respiratory Devices, Medical Device Components, Implants, Orthopedic products), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022– 2028” in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/medical-grade-silicone-market

2# Growing product deployment in orthopedic implants

The medical grade silicone market value from orthopedic products accounted for nearly 18.6% of the total industry share in 2021 and is estimated to record substantial growth through 2028. This expansion can be attributed to the extensive deployment of medical grade silicone materials in the process of implant production.

These elastomers are mainly preferred on account of a range of characteristics comprising biocompatibility and long shelf life. Additionally, the COVID-19 pandemic has particularly increased the demand for silicone implant products, bolstering business landscape over the estimated period.

3# Industry players take lead in formulating corporate strategies

Some of the major players in the medical grade silicone industry comprise Dongguan City Betterly New Materials Co., Ltd, Wacker Chemie AG, Elkem ASA, BioPlexus, LLC, Shin-Etsu Chemical Co., Ltd., Primasil Silicones Limited, DuPont, Momentive Performance Materials (KCC Corporation), and others. In order to establish a strong industry foothold, a number of medical grade silicone manufacturers are focusing on the implementation of various capacity expansion strategies such as mergers, acquisitions, and partnerships.

Quoting an instance, in October 2021, DuPont inaugurated its new medical elastomers mixers at its Hemlock-based ‘Healthcare Industries Materials Site’ in the state of Michigan, United States. Intended at expanding the manufacturing capabilities of in-house medical-grade silicone elastomers, the step was taken for catering to the escalated supply requirements from DuPont Liveo Healthcare Solutions customers.

In a nutshell, increasing government initiatives for the improvement of healthcare infrastructure coupled with growing advancements in technology are expected to drive the demand for medical grade silicone materials through the forthcoming years.

Partial Table of Contents (ToC) of the report:

Chapter 1   Methodology

1.1    Methodology

1.2    Market definitions

1.3    Forecast parameters

1.4    Data sources

1.4.1    Secondary

1.4.1.1    Paid sources

1.4.1.2    Unpaid sources

1.4.2    Primary

Chapter 2   Executive Summary

2.1    Medical grade silicone industry 360° synopsis, 2017 - 2028

2.1.1    Business trends

2.1.2    Form trends

2.1.3    Application trends

2.1.4    Regional trends

Chapter 3   Medical Grade Silicone Industry Insights

3.1    Industry segmentation

3.2    Industry landscape, 2017 - 2028

3.3    Industry impact forces

3.3.1    Growth drivers

3.3.1.1    Surging demand for medical grade silicon in prosthetics & orthopedic application

3.3.1.2    Growing healthcare expenditure globally

3.3.1.3    Increasing technological advancements in dentistry sector

3.3.1.4    Rising number of cosmetic and plastic surgeries

3.3.2    Industry pitfalls & challenges

3.3.2.1    High cost of raw materials

3.4    Growth potential analysis

3.4.1    By form

3.4.2    By application

3.5    COVID-19 impact analysis

3.6    Porter’s analysis

3.7    Competitive landscape, 2021

3.7.1    Company matrix analysis, 2021

3.8    PESTEL analysis

Browse complete table of content of this report@ https://www.gminsights.com/toc/detail/medical-grade-silicone-market

About Global Market Insights

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