(PharmaNewsWire.Com, July 06, 2019 ) The report "Medical Grade Silicone Market by Product Form (Gels, Adhesives, Medical Coatings & Fluids, (LSR)), by Application (Prosthetics & Orthopedic, Medical Tapes, Medical Electronics and Device, Medical Tubes, Catheters) - Global Forecast to 2027", is projected to reach USD 2.3 billion by 2027, at a CAGR of 6.1%.
This growth is fueled by the high growth in implantable device market, globally that has been boosting the medical grade silicone market and increasing the number of new product launches and agreements & joint ventures.
Gels (Unreinforced Silicone Elastomers) is estimated to be the largest product form in the medical grade silicone market
Silicone gel is increasingly being used in the healthcare industry in medical applications which range from very soft gels for prosthetic and implant applications, to very sticky gels for topical and transdermal wound care applications. Silicone gel exerts several actions which may explain this benefit in scars. They have proved to be very effective for scar treatment and cause 86% decrease in texture, 84% decrease in color and 68% decrease in height of scars. These are also used in other medical applications, such as skin coverings, comfort pads, and others. One of the latest advancements is the use of silicone gel for manufacturing silicone gel sheets which is used for treatment of large scars that need to be protected and covered.
Prosthetics & Orthopedic application segment is projected to dominate the market for medical grade silicone
Prostheses are classified under medical devices and thus are subject to U.S. Food and Drug Administration (FDA) and Center for Devices and Radiological Health (CDRH) guidelines. Orthopedics is the field of medicine concerned with the study and treatment of the musculoskeletal system, particularly the spine, joints, and muscles. Medical implants are also classified under prosthetics and are manufactured to replace missing natural structures; supports damaged biological structures, or enhance existing biological structures. The prosthetics market is witnessing new technological developments such as CAD/CAM dentistry (computer-aided design and computer-aided manufacturing) that is used to improve the design and creation of dental restorations especially dental prostheses, including crowns, crown lays, veneers, and orthodontic appliances; this is one of the major drives for the implants market in medical grade silicone market.
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North America is estimated to be the largest region for medical grade silicone North America is the worlds largest consumer of medical grade silicones and it continues to experience high demand growth in terms of value and volume. This region is diversified and is strongly focused on development of new products and advanced technology for the same, to cater the needs of its end users. The demand is mainly because of the existing medical grade silicone manufacturing companies in this region, technological advancements, and product modernization in terms of quality and application development. Another factor affecting the growth is the increase in medical grade silicone demand in sectors such has medical and healthcare in various industrial sectors.
Major players such as Dow Corning (U.S.), Wacker Chemie AG (Germany), Shin-Etsu Chemical Co., Ltd. (Japan), Momentive (U.S.), Bluestar Silicones (France), 3M Company (U.S.) have adopted development strategies such as expansions, agreements & collaborations, and new product development to achieve growth in the medical grade silicone market.
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