North American Medical Grade Silicone Market Size, Share, Growth, Analysis and Forecast 2023-2030

The North American Medical Grade Silicone market is anticipated to grow significantly at a CAGR of 5.9% over the forecast period. The US and Canada are the key economies that contribute to the growth of the North American Medical Grade Silicone market over the forecast period. The key aspect that drives the growth of the North American Medical Grade Silicone market includes the rising prevalence of chronic cardiovascular diseases across the North American region. The North American market has witnessed potential growth owing to the rising prevalence of CVDs. According to the Heart & Stroke Foundation in Canada, 1.6 million fatalities occur every year due to stroke and at least 1.3 million Canadians live with heart disease.

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According to the Center for Medicare and Medicaid Services, in 2018, the US national healthcare expenditure was around $3.6 trillion showing a 4.4% increase in healthcare expenditure up from 3.9% in 2017. It is further expected to reach $6.0 trillion by 2027. The US has the highest healthcare spending across the globe. Hence, this is also likely to contribute to the growth of the market. Further, the presence of the key players also supports the growth of the North American medical grade silicone market over the forecast period.

North American Medical Grade Silicone Market - Segmentation

By Form

Gels
Medical Adhesives
Medical Coatings
Elastomers

By Application

Medical Devices
Medical Tapes
Oral Care
Prosthetics & Orthopedic
Contact Lenses
Others

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North American Medical Grade Silicone Market- Segment by Region

North America

United States
Canada

Company Profiles

3M Co.
Bluestar Silicones (Elkem Group)
DOW Corning Corp.
Finesse Medical Ltd.
Henkel AG & Co. KGaA
Momentive Performance Materials Inc.
Primasil Silicones Ltd.
Royal DSM NV
Saint-Gobain Performance Plastics
Specialty Silicone Fabricators, Inc.
Stockwell Elastomeric Inc.
Vesta Inc.

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