According to the research report titled ‘Medical Grade Silicone Market Size By Form (Gel, Rubber, Foam, Sheet, Block), By Application (Respiratory Devices, Medical Device Components, Implants, Orthopedic Products), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 – 2028’, available with MarketStudyReport, global medical grade silicone market is anticipated to witness a healthy CAGR over the forecast period 2022-2028.

As per report findings, recent technological advancements in dentistry and swiveling product demand in prosthetics & orthopedic applications are the primary factors driving global medical grade silicone market growth.

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For the unversed, medical grade silicone is a substance that is used in several healthcare applications and is known to be non-toxic, versatile, and highly durable. Moreover, it is biologically and chemically inert, which makes it non-reactive to human tissue and other chemicals.

Additionally, high demand for plastic & cosmetic surgeries is also bolstering the market remuneration scope for the upcoming years.

Based on form type, the industry is divided into gel, block, rubber, sheet, foam, and others. The foam sub-segment was worth USD 117 million in 2021 and is on track to deliver substantial growth through 2028. This can be credited to surging demand for foam dressings in wound care.

By application scope, global medical grade silicone market is arrayed into respiratory devices, orthopedic products, medical device components, implants, and others. Among these, respiratory devices segment accounted for 7% market share in 2021 and is likely to gain considerable traction over the forecast period, triggered by increasing incidence of respiratory diseases.

From a regional point of view, Latin America accounted for over 11.5% share of the total industry revenue in 2021 and is slated to garner notable gains over the study period. This can be attributed to heavy healthcare expenditure throughout the region.

Prominent companies in worldwide medical grade silicone industry include Elkem ASA, KCC Corp., DuPont de Nemours Inc., Wacker Chemie AG, Stockwell Elastomerics Inc., Shin-Etsu Chemical Co. Ltd., Primasil Silicones Ltd., Dongguan City Betterly New Material Co. Ltd., BioPlexus LLC, and Avantor Inc.