Market Overview

Global Medical Grade Silicone Market 2018-2022 | Increasing Demand from Developing Countries to Enhance Growth | Technavio

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Technavio
analysts forecast the global medical grade silicone market to grow at a
CAGR of over 6% during the forecast period, according to their
latest market research report.

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Technavio has published a new market research report on the global medical grade silicone market fro ...

Technavio has published a new market research report on the global medical grade silicone market from 2018-2022. (Graphic: Business Wire)

The technological advances in robotic surgery is one of the major trends
being witnessed in the global
medical grade silicone market 2018-2022
. Robotic procedures are
likely to make surgeries universally affordable and accessible in the
future. Various robotic surgery firms have successfully completed the
preliminary cadaveric, animal, and first-in-human trials. The use of
medical grade silicone for producing prosthetics, medical tapes, and
orthopedic components for robotic surgery will drive the medical grade
silicone market during the forecast period.

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only:
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market snapshot before purchasing

According to Technavio analysts, one of the key factors contributing to
the growth of the global medical grade silicone market is the increase
in demand for medical grade silicone from developing countries:

Global medical grade silicone market: Increase
in demand for medical grade silicone from developing countries

Developing economies such as India, China, Brazil, Mexico, South Africa,
the Philippines, and Indonesia exhibit a high demand for medical grade
silicone and contribute significantly to the global medical grade
silicone market. Several players in the market are shifting their
manufacturing activities to these countries because of factors such as
the availability of raw materials, land, cost-effective labor, low
transportation costs, and less stringent government regulations and
policies.

According to a senior analyst at Technavio for research on specialty
chemicals, "In the last five years, there has been a rapid increase
in medical spending by consumers across the world. Innovations and
product developments to enhance life expectancy are on the rise. In
2017, countries such as China, Indonesia, Brazil, and India were some of
the most densely populated. In APAC, owing to the rising population, the
increased demand for prosthetics and orthopedic components is expected
to drive the medical grade silicone market."

Global medical grade silicone market:
Segmentation analysis

The global medical grade silicone market research report provides market
segmentation by application (prosthetics and orthopedic components,
medical devices, and medical tapes) and by region (the Americas, EMEA,
and APAC). It provides an in-depth analysis of the prominent factors
influencing the market, including drivers, opportunities, trends, and
industry-specific challenges.

The prosthetics and orthopedic components segment held the largest
market share in 2017, accounting for nearly 56% of the market. This
application segment is expected to dominate the global market throughout
the forecast period.

The Americas led the market in 2017 with a market share of nearly 44%.
This region is expected to dominate the market through 2022, with an
increase in its market share.

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Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

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