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Medical Silicone Market size is forecast to reach US$2.1 billion by 2027, after growing at a CAGR of 6.3% during 2022-2027.

HYDERABAD, TELANGANA, INDIA, December 29, 2022 /EINPresswire.com/ -- The Medical Silicone Market size is forecast to reach US$2.1 billion by 2027, after growing at a CAGR of 6.3% during 2022-2027. A silicon compound has bioinert properties, which help in regulating or controlling the growth of bacteria. The materials are also recognized for their inherent chemical and thermal stability, low surface tension, hydrophobicity, and stain resistance. In health care applications, silicones are extensively used in making bio-materials which include orthopedics, catheters, drains and shunts, heart-bypass machines, heart valves, and aesthetic implants among others. Silicon is widely preferred in dental implants and medical implants. Silicon is an emerging material in the medical industry that offers excellent mechanical, physical, thermal, structural, and biological properties. Now, Silicon is also used in making contact lenses. Unlike ordinary soft contacts, Silicon hydrogel lenses allow more oxygen to enter the cornea. Compared to regular hydrogel lenses, silicone hydrogel lenses let up to five times as much oxygen reach the cornea. Implantable neurostimulation devices are made from biomedical-grade silicones. The use of neurostimulators is an advanced treatment for reducing chronic pain, as well as for improving the quality of life for people who are paralyzed or who suffer from severe loss of sense organs. However, the adverse health consequences of silicone are likely to hinder silicone market growth.

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Key takeaways:

This IndustryARC report on the Medical Silicone market highlights the following areas -

1. The demand for Silicone in the future will increase as they are ideal for external prosthetics and artificial joints as they offer exceptional cushioning and provide maximum comfort making them the perfect material to use.

2. According to the data published by Silicone Europe, the healthcare industry bought approximately 11,000 metric tons of silicon products. This market generated sales of US$ 186 million; it was among the highest in value products made from silicon.

3. According to the U.S. Centres for Medicare and Medicaid Services, spending on healthcare is expected to grow at a rate of 5.7% during 2021 - 2026.

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Segmental Analysis:

1. Medical Silicone Market: By Form : The elastomers segment accounted for approximately 23% of the market share in 2021 and is estimated to grow at a significant CAGR during the forecast period. Silicone Rubber (LSR) is one of the most popular and economical silicone molding materials. The product is an ideal raw material ideal for devices intended for making medical applications in sterile environments. The use of silicone for respiratory tubing or infant care products is excellent because it is resistant to bacteria, sterilizes easily, and is well tolerated.

2. Medical Silicone Market: By Type : The Long Term Implantable segment accounted for approximately 18% of the market share in 2021 and is estimated to grow at a significant CAGR during the forecast period. Growing Age-related diseases is one of the major driving the market for the long-term implantable segment. Cardiovascular disease (CVDs) is one of the leading causes of death. And registered approximately 17.9 million deaths in 2019, accounting for 32% of all deaths worldwide. Millions of patients sustain or improve their lives each year through surgical procedures involving implanted devices.

3. Medical Silicone Market: By Applications : The medical devices segment accounted for approximately 55% of the market share in 2021 and is estimated to grow at a significant CAGR during the forecast period. It can be used in medical applications and infant care products that meet the highest quality standards demanded by health care professionals and patients alike. In addition to being resistant to bacteria, silicones are sterilized, making them ideal for sensitive applications like respiratory therapy and topical medication.

Competitive landscape:

The top 5 players in the Medical Silicone industry are:

1. Xinapse Systems Ltd.
2. Canon Medical Systems
3. Sciencesoft USA Corporation
4. Mim Software, Inc.
5. Koninklijke Philips N.V.

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