Medical Grade Silicone Market expected to reach USD 1.60 Billion by 2022, at a CAGR of 6.1%, over 2017–2022

Medical Grade Silicone Market size, in terms of value, is expected to reach USD 1.60 Billion by 2022, at a CAGR of 6.1%, between 2017 and 2022. High-growth application areas such as prosthetics & orthopedic and rapid growth of the global healthcare industry are the key factors driving the growth of the medical grade silicone market.

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Medical grade silicones are extremely adaptable to changes in terms of application, property, and state. They can be manufactured with preferred properties, such as rigid solid form to low viscosity liquid form by altering the chain length and chemical structure. Silicone gel is increasingly being used in the healthcare industry in medical applications, ranging from very soft gels for prosthetic and implant applications, to very sticky gels for topical and transdermal wound care applications. Silicone gels are used to help prevent scars in freshly healed wounds and also reduce prominent immature scars.

The medical grade silicone market has been segmented based on different applications such as prosthetics & orthopedic, medical tapes, medical electronics and device assemblies & fittings, medical tubes, catheters, medical accessories & tools, dental, and others. Prosthetics & orthopedic are the largest and fastest-growing application segments for medical grade silicone market.

Asia Pacific is the fastest-growing market medical grade silicone. The developing economies in the region with rapidly growing infrastructure create great opportunity for growth of the medical grade silicone market. China and India are among the fastest-growing economies in the world.

Companies such as Dow Corning (US), Wacker Chemie AG (Germany), Shin-Etsu Chemical Co., Ltd. (Japan), Momentive (US), Bluestar Silicones (France), and 3M Company (US) are the front-runners in the global medical grade silicone market. 

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