Medical Grade Silicone Market Outlook 2025: Top Companies, Trends and Future Prospects Details for Business Development

The Global Medical Grade Silicone Market is expected to reach USD 1.85 billion by 2025, from USD 1.15 billion in 2017 growing at a CAGR of 6.3% during the forecast period of 2018 to 2025. The upcoming market report contains data for historic years 2015 & 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.

Some of the major players operating in the global medical grade silicone market are – DOW Corning Corporation, Wacker Chemie AG, 3M, Shin-Etsu Chemical Co. Ltd., Bluestar Silicones (Elkem Group), Nusil Technology LLC, Henkel AG & Co., Momentive Performance Materials Inc., Specialty Silicone Fabricators, Inc., Zodiac Coating, Royal DSM, Wynca Group, Primasil Silicones Limited, Donatelle, Kibaru Manufacturing Sdn Bhd, Albright Technologies, FMI LLC, Vesta Inc., Simtec Silicone Parts, Shenzhen Kanglibang Science and Technology Co., Ltd., Finesse Medical Ltd., Polymer Science, Inc., Bioplexus, Saint-Gobain Performance Plastics, Stockwell Elastomerics Inc. and many more.

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Medical grade silicone is used in implantable and disposable medical devices which require high performance and safety standards when in contact with the human body. It includes instruments with critical functions such as defibrillators, heart pumps and surgical reconstructive components employing the biocompatible and hydrophobic properties of silicone. It has gained widespread acceptance because of negligible levels of toxicity and low risk of unfavourable biological reactions associated with them. Liquid silicone rubber is a bacterial and chemical resistance, excellent transparency, gas permeability, elongation feature, superior dielectric strength, high tensile strength and ability to function in extreme temperatures. According to DIPP, in 2016, the medical devices industry in India is valued at USD 5.2 billion and contributes 4.0-5.0% to the USD 96.7 billion. Moreover, the industry is steadily grown and witnessed a surge from USD 2.02 billion in 2009 to USD 3.9 billion in 2015 at a CAGR of 15.8%. Furthermore, the Indian medical devices market will grow to USD 50.0 billion by 2025. The high demand of medical devices across the developing nation will make the demand for medical grade silicone in near future.

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The global medical grade silicone market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of medical grade silicone market for global, Europe, North America, Asia Pacific and South America.

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