PUNE, India, July 27, 2017 /PRNewswire/ --
The report "Medical Grade Silicone Market by Product Form (Gels, Medical Adhesives, Medical Coatings, Elastomers), Application (Prosthetics & Orthopedic, Medical Devices, Medical Tapes, Contact Lenses), and Region - Global Forecast to 2022",published by MarketsandMarkets™, the market is projected to grow from USD 1.10 Billion in 2016 to reach USD 1.60 Billion by 2022, at a CAGR of 6.1% during the forecast period.
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This growth is fueled by the high growth of implantable device market; globally that has been boosting the medical grade silicone market. Increasing new product launches and agreements & joint ventures undertaken by the players operating in the market is also fueling the market.
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Gels (Unreinforced Silicone Elastomers): The largest product form in the medical grade silicone market
Silicone gel is increasingly being used in various 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 has proved to be very effective for scar treatment and cause 86% decrease in texture, 84% decrease in color, and 68% decrease in the 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 to manufacture silicone gel sheets, which are used for the treatment of deep scars that need to be protected and covered.
Prosthetics & Orthopedic: The largest application segment of the medical grade silicone market
The prosthetics and orthopedics segment 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. These developments further propel the medical grade silicone market.
North America: The largest market for medical grade silicone
North America is the world's largest consumer of medical grade silicones and is expected to continue to experience high growth, in terms of value and volume. This region is diversified and is strongly focused on the development of new products and advanced technology for the same, to cater the needs of its end users. The presence of the existing medical grade silicone manufacturing companies in this region, technological advancements, and product modernization in terms of quality and application development are driving the market in the region. Another factor affecting the growth is the increase in demand for medical grade silicone in sectors such as healthcare.
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Major players such as Dow Corning (US), Wacker Chemie AG (Germany), Shin-Etsu Chemical Co., Ltd. (Japan), Momentive (US), Bluestar Silicones (France), 3M Company (US) 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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Silicone Market by Type (Elastomers, Fluids, Resins, Gels & Other Products) by Application (Building & Construction, Chemical Industry, Medical & Personal Care, Automotive & Transportation, Plastics, Electrical & Electronics, Textile, Paper, Others) & by Region - Global Trends & Forecasts to 2020 http://www.marketsandmarkets.com/Market-Reports/silicone-market-709.html
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