Latest Published Market Report | Medical Grade Silicone Market Size, Share, & Forecast 2023-2030

The global medical grade silicone market is expected to reach US$ 25.1 billion by 2030, with an annual growth rate of more than 5.8%.

According to RationalStat's recent industry analysis, the Global Medical Grade Silicone Market value is US$ 16.9 billion in 2023 and is expected to rise at a strong CAGR of over 5.8% over the forecast period of 2023-2030.

Market Definition, Market Scope, and Report Overview

Medical grade silicone refers to a specialized type of silicone material that meets stringent quality and safety standards for use in medical and healthcare applications. Silicone is a synthetic material made from silicon, oxygen, carbon, and hydrogen. It possesses unique properties that make it well-suited for medical purposes.

Silicone is known for its flexibility and durability, allowing it to withstand repeated sterilization processes, temperature variations, and mechanical stress. This makes it ideal for medical applications where devices need to maintain their integrity and functionality over time.

According to a deep-dive market assessment by RationalStat, the global medical grade silicone market has been analyzed on the basis of market segments, including form, type, application and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.

• Market intelligence for the global Medical Grade Silicone market covers market sizes on the basis of market value (US$/EUR Million), volume (Tons) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.

• In addition, the long-term sector and products/services 10-year outlook and its implications on the global Medical Grade Silicone market. It also includes the industry's current state - Production levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.

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Global Medical Grade Silicone Market: Segmental and Market Share Analysis

• On the basis of form, Rubber segment is anticipated to dominate the global medical grade silicone market. High compatibility of silicone rubber with various sterilization methods will support segment expansion.

• On the basis of application, medical device components segment will grow 7% CAGR by 2030. The lightweight nature and biocompatibility of medical grade silicone have made it a preferred material for various surgical instruments.

Report Synopsis
Report Metrics Details
Base Year 2023
Forecast Period 2023-2030
Base Year Market Size US$ 16.9 billion
Market Size Forecast US$ 25.1 billion
Growth Rate 5.8%
Dominant Segment Medical Device Components
Dominant Region North America

Key Market Drivers
• Surging demand for medical grade silicone in prosthetics & orthopedic application
• Growing healthcare expenditure globally
• Increasing technological advancements

Companies Profiled
• BioPlexus LLC
• Primasil Silicones Limited
• STOCKWELL ELASTOMERICS INC
• DuPont
• Shinu-Estu Chemical Co. LTD
• Wacker Chemie AG
• 3M
• Bluestar Silicones
• Momentive
• Dow Corning

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Competition Analysis and Market Structure

Some leading players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & and acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players.

• In August 2022, DuPont de Nemours and firm, an American global chemical firm, announced the building of a manufacturing unit in China to boost production capacities for their Liveo Pharma Silicone Tubing.

Some of the prominent players and suppliers operating and contributing significantly to the global medical grade silicone market growth include BioPlexus LLC, Primasil Silicones Limited, STOCKWELL ELASTOMERICS INC, DuPont, Shinu-Estu Chemical Co. LTd, Wacker Chemie AG, 3M, Bluestar Silicones, Momentive, and Dow Corning, among others.

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RationalStat has segmented the global medical grade silicone market based on form, type, application and region
• Global Medical Grade Silicone Market Value (US$ Million), Volume (Tons) and Market Share (2019-2030) Analysis by Form
o Gel
o Rubber
o Foam
o Sheet
o Block
• Global Medical Grade Silicone Market Value (US$ Million), Volume (Tons) and Market Share (2019-2030) Analysis by Type
o Gels
o Medical Adhesives
o Medical Coatings
o Liquid Silicone Rubbers (LSR)
o Others (APIs, Excepients, Foams, Emulsions, Dispersions)
• Global Medical Grade Silicone Market Value (US$ Million), Volume (Tons) and Market Share (2019-2030) Analysis by Application
o Orthopedic Components
o Medical Device Components
o Medical Tapes
o Prosthetics
o Others (Drugs, Topical Gels, Oral Care Products, etc.)
• Global Medical Grade Silicone Market Value (US$ Million), Volume (Tons) and Market Share (2019-2030) Analysis by Region
o North America Medical Grade Silicone Market
 US
 Canada
o Latin America Medical Grade Silicone Market
 Brazil
 Mexico
 Rest of Latin America
o Western Europe Medical Grade Silicone Market
 Germany
 UK
 France
 Spain
 Italy
 Benelux
 Nordic
 Rest of Western Europe
o Eastern Europe Medical Grade Silicone Market
 Russia
 Poland
 Hungary
 Other CIS Countries
 Rest of Eastern Europe
o Asia Pacific Medical Grade Silicone Market
 China
 Japan
 India
 South Korea
 Australia
 ASEAN
• Indonesia
• Thailand
• Philippines
• Vietnam
• Malaysia
• Rest of ASEAN
 Rest of Asia Pacific
o Middle East & Africa Medical Grade Silicone Market
 GCC
• Saudi Arabia (KSA)
• United Arab Emirates (UAE)
• Rest of the GCC
 South Africa
 Nigeria
 Turkey
 Rest of the Middle East & Africa

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Key Questions Answered in the Medical Grade Silicone Report:
• What will be the market value of the global Medical Grade Silicone market by 2030?
• What is the market size of the global Medical Grade Silicone market?
• What are the market drivers of the global Medical Grade Silicone market?
• What are the key trends in the global Medical Grade Silicone market?
• Which is the leading region in the global Medical Grade Silicone market?
• What are the major companies operating in the global Medical Grade Silicone market?
• What are the market shares by key segments in the global Medical Grade Silicone market?

Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts' viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
• Defining the problem by understanding the type of market and data required by the client.
• Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
• Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
• Evaluating and analyzing the data by referring to data sources utilized and leveraged.
• Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.

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RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
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