Medical Grade Silicone Market

Medical Grade Silicone Market - Global Industry
Insights, Trends, Outlook, and Opportunity Analysis,
2018-2026
Medical grade silicones are specially produced silicones that show compatibility with
living tissue. Silicones have properties such as, heat resistance, flexibility, high gas
permeability low chemical reactivity, and low toxicity, which makes them an ideal
choice for use in medical devices and other related products. Medical grade silicones
are used in hydrocephalic shunts, topical formulations as excipients, transdermal
drug delivery systems as adhesives, and antacid formulations. The use of medical
grade silica in healthcare and pharmaceutical industry is the major driver for the
growth of medical grade silica market. The regulatory policies in different economies
and high cost are the key restraints for medical grade silicone market.
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Silicone gel is used in scar treatment, topical gels, transdermal patches, and skin
coverings. The prosthetics and orthodontics is the most lucrative application of
medical grade silica. Advanced technologies in dental industry such as, Computer
aided design, manufacturing for creation and design of dental crowns, veneers,
crown lays, and orthodontic appliances is increasing the demand for prosthetics and
orthopedics. Silicone elastomers show quality, versatility and high performance.
They are used in catheters as medical devices.
Medical Grade Silicone -Market Outlook
North America region is projected to be the largest market and it is expected to retain
its dominance due to presence of medical grade manufacturers, high quality
products requirement, and technological advancement.
After the misuse of industrial grade silicone in breast implants by Poly Implant
Prosthese, European Union adopted Regulation (EU) 2017/745 and Regulation (EU)
2017/746 on medical devices, which are effective from April 5 2017. These stringent
regulations are expected to play an important role in European medical grade silica
market.
Increasing per capita income, health awareness, ageing population, and increasing
awareness for preventive healthcare is boosting the growth of medical grade silicone
market in Asia Pacific. According to India Brand Equity Foundation, a trust
established by the Department of Commerce, Ministry of Commerce and Industry,
Government of India (IBEF), the Indian medical devices market is estimated to reach
US$ 10 Billion by 2025 while the healthcare sector is expected to reach US$ 280
billion by 2020. This is expected to propel the growth of medical grade silicone
market in India.
The lucrative growth in medical equipment and healthcare industry, owing to
increasing private and public wealth due to oil boom, strong healthcare infrastructure
and supportive regulatory requirements in the Middle East nations such as United
Arab Emirates and Qatar are propelling the medical grade silica market.
In Latin America and Africa, urbanization, changing lifestyle, increasing per capita
income, and increasing government initiatives is growing the healthcare industry,
which in turn is fueling the growth of the medical grade silica market.
The market players are adopting various growth strategies to retain market position.
For instances, Q Holdings acquired Degania Silicone in November 2016 and Silicone
Altimex in August 2015. Key players operating in medical grade silicone market
include 3M Company, Albright Technologies, Bluestar Silicone, Dow Corning, FMI
LLC, Momentive, Nusil Technology LLC, Primasil Silicones Limited, Shin-Etsu
Chemical Co. Ltd., and Wacker Chemie AG.
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Medical Grade Silicone Market report categorizes global market by Product, and by Application - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-2026

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