Medical Seals Market is Forecasted to Reach US$ 2.0 billion in 2027, Says Stratview Research

The global Medical Seals Market is projected to witness a growth rate of 6.0% annually from 2022 to 2027, with an anticipated size of US$ 2.0 billion in 2027, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global Medical Seals Market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

Click here to get a free sample of the report: https://www.stratviewresearch.com/Request-Sample/492/medical-seals-market.html#form

Report Highlights: `
Market Size in 2027: US$ 2.0 billion
Growth (CAGR): 6.0% during 2022-2027
Forecast Period: 2022-2027
Trend Period: 2016-2020
Base Year: 2021
Number of Segments Covered: 7
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20

Segment Insights on the Medical Seals Market:
The global Medical Seals Market is segmented application type, material type, product type, motion type, end-user type, certification type and Region

Based on application type: The medical seals market is segmented as analytical instruments, medical devices, and surgical tools. Among these application segments, analytical instrument is expected to remain the biggest demand generator for seals during the forecast period. Increasing research and development, establishment of new research laboratories, growing diagnostic facilities, among other factors are expected to propel the market with an increased demand for seals in the analytical instruments segment. High demand for tight tolerance and high leakage-resistant seals in these instruments is also likely to boost healthy growth in the market.

Based on material type: The medical seals market is segmented as elastomeric seals, thermoplastic seals, and metal seals. Elastomeric seals are the clear winners in the medical seals market. The life science industry is moving towards sustainable growth with the greater adoption of advanced materials. Thermoplastic materials offer higher mechanical properties at a relatively low weight and have a well-proven track record in the industry. Thermoplastic seals are also extensively used in the industry, owing to their desired properties, such as high chemical resistance, low friction, and biocompatibility.

Based on product type: The medical seals market is segmented as O-rings, gaskets, lip seals, and others. O-rings are expected to remain the largest and the fastest-growing segment of the market during the forecast period. O-rings are widely used in various important applications including respiratory equipment, drug delivery devices, pumps, fluid transfer devices, etc. O-rings are cost-effective, customizable, extremely durable and available in a variety of sizes and hardness.

Based on end-user type: The market is segmented as hospitals, private clinics, and research laboratories. Private clinic is expected to remain the fastest-growing end-user type during the forecast period. Growing concerns toward individual health along with regular check-ups, increasing requirement for medical devices & analytical instruments in private clinics are expected to drive the growth of the market over the next five years.

Based on Certification Type: The market is segmented as USP class VI, FDA or ISO 13485, and others. Among the certification types, the FDA or ISO 13485 segment is expected to remain the largest segment of the market during the forecast period. All organizations that manufacture or repackage medical equipment in the United States must register with the FDA. The United States is the world's largest producer of medical equipment, which contributes to the segment's dominance in the market.

To know the most attractive segments, click here for a free sample of the report:
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Which Region Shows the Most Promising Growth Forecast and Opportunity?
The analysis North America is estimated to remain the dominant market for medical seals during the forecast period. This growth outlook is majorly attributed to the following-
• Owing to the presence of a large number of medical equipment manufacturers, such as Johnson & Johnson, Abbott laboratories, Becton Dickinson, Cardinal Health Inc., and Stryker Corp. in the region.
• However, Asia-Pacific led by India and China is expected to offer the highest growth opportunity to the market stakeholders in the near future.
• This growth can be attributed to the emergence of new medical device manufacturing plants in the region along with the rising demand for seals.
• Key medtech are expanding their presence in the region to enhance their proximity with large number of customers.
• For an instance, Siemen Healthineers has opened its new manufacturing facility in India to address the demand for diagnostic equipment.

Medical Seals Market Drivers:
• Medical seals, a sizeable market, could not escape from such trends and witnessed a sluggish growth of 1.9% during the year 2020, which was around 8% lower than the growth rate of the previous year.
• The industry is recovering from the negative impact of the pandemic and it has regained its momentum from the year 2021, with the increasing spending towards healthcare. However, high cost of thermoplastic materials and increasing complexity in manufacturing of seals may cause a barrier in growth of the market.
• Furthermore, growing innovations in medical equipment, increasing funds for medical R&Ds, aging population, the growing global medical devices market coupled with increasing concern toward individual health, and growing demand for wearable medical devices is likely to give an additional impetus to the demand for seals in the near future.

Top 10 Companies in the Medical Seals Market:
Stratview Research has identified the following companies as the top market players:
• Trelleborg AB
• Parker-Hannfin Corporation
• Saint-Gobain S.A
• Greene Tweed & Co.
• Bal Seal Engineering, Inc.
• IDEX Corporation
• Technetics Group
• Apple Rubber Products, Inc.
• Ceetak Ltd.
• Techno AD Ltd.

What Unique Insights Does this Report Offer?
This report provides comprehensive insights into the Medical Seals Market, answering critical questions like:
• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?

For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com

Related Reports:
• O-Rings Market: https://www.stratviewresearch.com/2951/o-rings-market.html
• Gaskets Market: https://www.stratviewresearch.com/2917/gaskets-market.html

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This release was published on openPR.