HOME Top Market Reports Medical Grade Silicone Market by Product Form (Gels, Medical Adhesives, Medical Coatings, Elastomers), Application (Prosthetics & Orthopedic, Medical Devices, Medical Tapes, Contact Lenses), and Region - Global Forecast to 2022

Medical Grade Silicone Market by Product Form (Gels, Medical Adhesives, Medical Coatings, Elastomers), Application (Prosthetics & Orthopedic, Medical Devices, Medical Tapes, Contact Lenses), and Region - Global Forecast to 2022

By: marketsandmarkets.com
Publishing Date: July 2017
Report Code: AD 4478

 

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The medical grade silicone market is expected to grow from USD 1.10 Billion in 2016 and reach USD 1.60 Billion by 2022, at a CAGR of 6.1% between 2017 and 2022. The main objective of the study is to define, describe, and forecast the medical grade silicone market based on product form and application. The report strategically analyzes the market segments with respect to individual growth trends, growth prospects, and contribution to the total market. In the report, the market size is projected for segments, in terms of value and volume, with respect to five major regions (along with the countries), namely, North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.

Objectives of the Study:

  • To define, describe, and forecast the medical grade silicone market based on form, application, and region
  • To provide detailed information regarding the key factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
  • To strategically analyze micromarkets with respect to individual growth trends, prospects, and contribution to the total market
  • To analyze the opportunities in the market for stakeholders and provide a competitive landscape of the market
  • To strategically profile key players and comprehensively analyze their market shares and core competencies

Note1: Micromarkets are the subsegments of the medical grade silicone market included in the report.
Note2: Core competencies of companies are determined in terms of their key developments and key strategies adopted by them to sustain in the market.

The top-down and bottom-up both approaches have been used to estimate and validate the size of the global medical grade silicone market and to estimate the size of various other dependent submarkets. The research study involved the use of extensive secondary sources, directories, and databases such as Hoovers, Bloomberg, Chemical Weekly, Factiva, Bloomberg Businessweek, American Medical Association, World Medical Association, and articles from recognized authors to identify and collect information useful for a technical, market-oriented, and commercial study of the medical grade silicone market.

Medical Grade Silicone Market

To know about the assumptions considered for the study, download the pdf brochure

Major Players:

  • Dow Corning Corporation (US)
  • Wacker Chemie AG (Germany)
  • 3M Company (US)
  • Shin-Etsu Chemical Co. Ltd. (Japan)
  • Bluestar Silicones (France)
  • NuSil Technology LLC (US)
  • Henkel AG & Co. (Germany)
  • Momentive Performance Materials Inc. (US)
  • Specialty Silicone Fabricators, Inc. (US)
  • Zodiac Coating (Germany)

Key Target Audience:

  • Medical Grade Silicone Manufacturers
  • Medical Grade Silicone Traders, Distributors, and Suppliers
  • Medical Grade Silicone Formulators and Compounders
  • Raw Material Suppliers
  • Government and Research Organizations
  • FDA Regulatory Bodies
  • Center for Devices and Radiological Health (CDRH) Regulatory Bodies
  • Environment and Safety Evaluation Regulatory Bodies

“This study answers several questions for the stakeholders, primarily which market segments they should focus upon during the next two to five years to prioritize their efforts and investments”.

Scope of the Report:

This research report categorizes the medical grade silicone market based on type, application, and region.

Based on Type:

  • Gels (Unreinforced Silicone Elastomers)
  • Medical Adhesives
  • Medical Coatings
  • Liquid Silicone Rubbers (LSR)
  • Others (APIs, Excipients, Foams, Emulsions, Dispersions)

Based on Application:

  • Prosthetics (Limbs & Implants)
  • Orthopedic Components
  • Medical Devices
  • Medical Tapes
  • Others (Drugs, Topical Gels, Oral Care Products, Surgical Drapes)

Based on Region:

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • South America
  • The market is further analyzed for the key countries in each of these regions.

Major Players:

  • Dow Corning Corporation (US)
  • Wacker Chemie AG (Germany)
  • 3M Company (US)
  • Shin-Etsu Chemical Co. Ltd. (Japan)
  • Bluestar Silicones (France)
  • NuSil Technology LLC (US)
  • Henkel AG & Co. (Germany)
  • Momentive Performance Materials Inc. (US)
  • Specialty Silicone Fabricators, Inc. (US)
  • Zodiac Coating (Germany)

Available Customizations:

With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options are available for the report:

Regional Analysis:

  • Country-level analysis of the medical grade silicone market, by application.

Company Information:

  • Detailed analysis and profiles of additional market players.

Table of Contents

1 Introduction
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
    1.4 Years Considered for the Study
    1.5 Currency
    1.6 Limitations
    1.7 Stakeholders

2 Research Methodology
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Breakdown of Primaries Interviews
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Market Breakdown and Data Triangulation
    2.4 Research Assumptions

3 Executive Summary

4 Premium Insights
    4.1 Attractive Opportunities in Medical Grade Silicone Market
    4.2 Medical Grade Silicone Market, By Product Form
    4.3 Medical Grade Silicone Market, By Application
    4.4 Medical Grade Silicone Market, By Region
    4.5 Medical Grade Silicone Market in Asia-Pacific
    4.6 Life Cycle Analysis, By Region

5 Market Overview
    5.1 Introduction
    5.2 Market Segmentation
           5.2.1 By Product Form
           5.2.2 By Application
           5.2.3 By Region
    5.3 Market Dynamics
           5.3.1 Drivers
                    5.3.1.1 High Growth in Implantable Device Market
           5.3.2 Restraints
                    5.3.2.1 Financial Challenges to Provide Products at Affordable Price
                    5.3.2.2 Increasing Raw Material Prices
           5.3.3 Opportunities
                    5.3.3.1 Growing Healthcare Market in Emerging Regions
           5.3.4 Challenges
                    5.3.4.1 Stringent Regulatory Policies and Time-Consuming Approval Process
                    5.3.4.2 Variations in Regulations Across Countries

6 Industry Trends
    6.1 Introduction
    6.2 Value Chain Analysis
    6.3 Porter’s Five Forces Analysis
           6.3.1 Bargaining Power of Suppliers
           6.3.2 Bargaining Power of Buyers
           6.3.3 Threat of New Entrants
           6.3.4 Threat of Substitutes
           6.3.5 Intensity of Rivalry
    6.4 Patents Analysis

7 Medical Grade Silicone, By Product Form
    7.1 Introduction
    7.2 Gels
           7.2.1 Soft Skin Adhesives (SSAS)
    7.3 Medical Adhesives
           7.3.1 Pressure Sensitive Adhesives (PSAS)
    7.4 Medical Coatings
           7.4.1 Hydrophilic
           7.4.2 Hydrophobic
    7.5 Elastomers
           7.5.1 Liquid Silicone Rubber (LSR)
           7.5.2 High Consistency Rubber (HCR)
    7.6 Others (Apis, Excipients, Foams, Emulsions, Dispersions, and Others)

8 Medical Grade Silicone, By Application
    8.1 Introduction
    8.2 Prosthetics (Limbs & Implants)
    8.3 Orthopedic Components
    8.4 Medical Devices
           8.4.1 Medical Electronics, Device Assemblies & Fittings
           8.4.2 Medical Tubes
           8.4.3 Medical Rings and Gaskets
           8.4.4 Catheters
           8.4.5 Misc. Accessories (Masks, Bottles, Trays, and Others)
    8.5 Medical Tapes
           8.5.1 Wound Care
           8.5.2 Drug Delivery
           8.5.3 Personal Hygiene
           8.5.4 Component Joining
    8.5 Contact Lenses
    8.6 Others (Drugs, Topical Gels, Oral Care Products, Surgical Drapes, and Others)

9 Medical Grade Silicone, By Region
    9.1 Introduction
    9.2 North America
           9.2.1 U.S.
           9.2.2 Canada
           9.2.3 Mexico
    9.3 Europe
           9.3.1 Germany
           9.3.2 Russia
           9.3.3 France
           9.3.4 U.K.
           9.3.5 Spain
           9.3.6 Italy
           9.3.7 Rest of Europe
    9.4 Asia-Pacific
           9.4.1 China
           9.4.2 Japan
           9.4.3 India
           9.4.4 South Korea
           9.4.5 Malaysia
           9.4.6 Australia & New Zealand
           9.4.7 Rest of Asia-Pacific
    9.5 Middle East & Africa
           9.5.1 Saudi Arabia
           9.5.2 UAE
           9.5.3 Turkey
           9.5.4 South Africa
           9.5.5 Rest of Middle East & Africa
    9.6 South America
           9.6.1 Brazil
           9.6.2 Argentina
           9.6.3 Rest of Latin America

10 Competitive Landscape
     10.1 Introduction
             10.1.1 Dynamic
             10.1.2 Innovators
             10.1.3 Vanguards
             10.1.4 Emerging
     10.2 Competitive Benchmarking
     10.3 Product Offerings (25 Players)
     10.4 Business Strategy (25 Players)
     10.5 Market Share Analysis

11 Company Profiles
(Overview, Financial*, Products & Services, Strategy, and Developments)
     11.1 DOW Corning
     11.2 Wacker Chemie AG
     11.3 3M Company
     11.4 Shin-Etsu Chemical Co. Ltd.
     11.5 Bluestar Silicones (Elkem Group)
     11.6 Nusil Technology LLC
     11.7 Henkel AG & Co.
     11.8 Momentive Performance Materials Inc.
     11.9 Specialty Silicone Fabricators, Inc.
     11.10 Zodiac Coating
     11.11 Other Market Players

*Details Might Not Be Captured in Case of Unlisted Companies.

12 Appendix
     12.1 Discussion Guide
     12.2 Introducing RT: Real-Time Market Intelligence
     12.3 Knowledge Store: Marketsandmarkets Subscription Portal
     12.4 Available Customizations
     12.5 Related Reports


List of Tables (86 Tables)

Table 1 Medical Grade Silicone Market Size, By Product Form, 2014–2021 (USD Million)
Table 2 Medical Grade Silicone Market Size, By Product Form, 2014–2021 (Kiloton)
Table 3 Medical Grade Silicone Market Size, By Application, 2014–2021 (USD Million)
Table 4 Medical Grade Silicone Market Size, By Application, 2014–2021 (Kiloton)
Table 5 Medical Grade Silicone Market Size, By Region, 2014-2021 (USD Million)
Table 6 Medical Grade Silicone Market Size, By Region, 2014–2021 (Kiloton)
Table 7 North America: Medical Grade Silicone Market Size, By Country, 2014–2021 (USD Million)
Table 8 North America: Medical Grade Silicone Market Size, By Country, 2014–2021 (Kiloton)
Table 9 North America: Medical Grade Silicone Market Size, By Product Form, 2014–2021 (USD Million)
Table 10 North America: Medical Grade Silicone Market Size, By Product Form, 2014–2021 (Kiloton)
Table 11 North America: Medical Grade Silicone Market Size, By Application, 2014–2021 (USD Million)
Table 12 North America: Medical Grade Silicone Market Size, By Application, 2014–2021 (Kiloton)
Table 13 U.S.: Medical Grade Silicone Market Size, By Application, 2014–2021 (USD Million)
Table 14 U.S.: Medical Grade Silicone Market Size, By Application, 2014–2021 (Kiloton)
Table 15 Canada: Medical Grade Silicone Market Size, By Application, 2014–2021 (USD Million)
Table 16 Canada: Medical Grade Silicone Market Size, By Application, 2014–2021 (Kiloton)
Table 17 Mexico: Medical Grade Silicone Market Size, By Application, 2014–2021 (USD Million)
Table 18 Mexico: Medical Grade Silicone Market Size, By Application, 2014–2021 (Kiloton)
Table 19 Europe: Medical Grade Silicone Market Size, By Country, 2014–2021 (USD Million)
Table 20 Europe: Medical Grade Silicone Market Size, By Country, 2014–2021 (Kiloton)
Table 21 Europe: Medical Grade Silicone Market Size, By Product Form, 2014–2021 (USD Million)
Table 22 Europe: Medical Grade Silicone Market Size, By Product Form, 2014–2021 (Kiloton)
Table 23 Europe: Medical Grade Silicone Market Size, By Application, 2014–2021 (USD Million)
Table 24 Europe: Medical Grade Silicone Market Size, By Application, 2014–2021 (Kiloton)
Table 25 Germany: Medical Grade Silicone Market Size, By Application, 2014–2021 (USD Million)
Table 26 Germany: Medical Grade Silicone Market Size, By Application, 2014–2021 (Kiloton)
Table 27 Russia: Medical Grade Silicone Market Size, By Application, 2014–2021 (USD Million)
Table 28 Russia: Medical Grade Silicone Market Size, By Application, 2014–2021 (Kiloton)
Table 29 France: Medical Grade Silicone Market Size, By Application, 2014–2021 (USD Million)
Table 30 France: Medical Grade Silicone Market Size, By Application, 2014–2021 (Kiloton)
Table 31 U.K.: Medical Grade Silicone Market Size, By Application, 2014–2021 (USD Million)
Table 32 U.K.: Medical Grade Silicone Market Size, By Application, 2014–2021 (Kiloton)
Table 33 Spain: Medical Grade Silicone Market Size, By Application, 2014–2021 (USD Million)
Table 34 Spain: Medical Grade Silicone Market Size, By Application, 2014–2021 (Kiloton)
Table 35 Italy: Medical Grade Silicone Market Size, By Application, 2014–2021 (USD Million)
Table 36 Italy: Medical Grade Silicone Market Size, By Application, 2014–2021 (Kiloton)
Table 37 Rest of Europe: Medical Grade Silicone Market Size, By Application, 2014–2021 (USD Million)
Table 38 Rest of Europe: Medical Grade Silicone Market Size, By Application, 2014–2021 (Kiloton)
Table 39 Asia-Pacific: Medical Grade Silicone Market Size, By Country, 2014–2021 (USD Million)
Table 40 Asia-Pacific: Medical Grade Silicone Market Size, By Country, 2014–2021 (Kiloton)
Table 41 Asia-Pacific: Medical Grade Silicone Market Size, By Product Form, 2014–2021 (USD Million)
Table 42 Asia-Pacific: Medical Grade Silicone Market Size, By Product Form, 2014–2021 (Kiloton)
Table 43 Asia-Pacific: Medical Grade Silicone Market Size, By Application, 2014–2021 (USD Million)
Table 44 Asia-Pacific: Medical Grade Silicone Market Size, By Application, 2014–2021 (Kiloton)
Table 45 China: Medical Grade Silicone Market Size, By Application, 2014–2021 (USD Million)
Table 46 China: Medical Grade Silicone Market Size, By Application, 2014–2021 (Kiloton)
Table 47 Japan: Medical Grade Silicone Market Size, By Application, 2014–2021 (USD Million)
Table 48 Japan: Medical Grade Silicone Market Size, By Application, 2014–2021 (Kiloton)
Table 49 India: Medical Grade Silicone Market Size, By Application, 2014–2021 (USD Million)
Table 50 India: Medical Grade Silicone Market Size, By Application, 2014–2021 (Kiloton)
Table 51 South Korea: Medical Grade Silicone Market Size, By Application, 2014–2021 (USD Million)
Table 52 South Korea: Medical Grade Silicone Market Size, By Application, 2014–2021 (Kiloton)
Table 53 Malaysia: Medical Grade Silicone Market Size, By Application, 2014–2021 (USD Million)
Table 54 Malaysia: Medical Grade Silicone Market Size, By Application, 2014–2021 (Kiloton)
Table 55 Australia & New Zealand: Medical Grade Silicone Market Size, By Application, 2014–2021 (USD Million)
Table 56 Australia & New Zealand: Medical Grade Silicone Market Size, By Application, 2014–2021 (Kiloton)
Table 57 Rest of Asia-Pacific: Medical Grade Silicone Market Size, By Application, 2014–2021 (USD Million)
Table 58 Rest of Asia-Pacific: Medical Grade Silicone Market Size, By Application, 2014–2021 (Kiloton)
Table 59 Middle East & Africa: Medical Grade Silicone Market Size, By Country, 2014–2021 (USD Million)
Table 60 Middle East & Africa: Medical Grade Silicone Market Size, By Country, 2014–2021 (Kiloton)
Table 61 Middle East & Africa: Medical Grade Silicone Market Size, By Product Form, 2014–2021 (USD Million)
Table 62 Middle East & Africa: Medical Grade Silicone Market Size, By Product Form, 2014–2021 (Kiloton)
Table 63 Middle East & Africa: Medical Grade Silicone Market Size, By Application, 2014–2021 (USD Million)
Table 64 Middle East & Africa: Medical Grade Silicone Market Size, By Application, 2014–2021 (Kiloton)
Table 65 Saudi Arabia: Medical Grade Silicone Market Size, By Application, 2014–2021 (USD Million)
Table 66 Saudi Arabia: Medical Grade Silicone Market Size, By Application, 2014–2021 (Kiloton)
Table 67 UAE: Medical Grade Silicone Market Size, By Application, 2014–2021 (USD Million)
Table 68 UAE: Medical Grade Silicone Market Size, By Application, 2014–2021 (Kiloton)
Table 69 Turkey: Medical Grade Silicone Market Size, By Application, 2014–2021 (USD Million)
Table 70 Turkey: Medical Grade Silicone Market Size, By Application, 2014–2021 (Kiloton)
Table 71 South Africa: Medical Grade Silicone Market Size, By Application, 2014–2021 (USD Million)
Table 72 South Africa: Medical Grade Silicone Market Size, By Application, 2014–2021 (Kiloton)
Table 73 Rest of Middle East & Africa: Medical Grade Silicone Market Size, By Application, 2014–2021 (USD Million)
Table 74 Rest of Middle East & Africa: Medical Grade Silicone Market Size, By Application, 2014–2021 (Kiloton)
Table 75 Latin America: Medical Grade Silicone Market Size, By Country, 2014–2021 (USD Million)
Table 76 Latin America: Medical Grade Silicone Market Size, By Country, 2014–2021 (Kiloton)
Table 77 Latin America: Medical Grade Silicone Market Size, By Product Form, 2014–2021 (USD Million)
Table 78 Latin America: Medical Grade Silicone Market Size, By Product Form, 2014–2021 (Kiloton)
Table 79 Latin America: Medical Grade Silicone Market Size, By Application, 2014–2021 (USD Million)
Table 80 Latin America: Medical Grade Silicone Market Size, By Application, 2014–2021 (Kiloton)
Table 81 Brazil: Medical Grade Silicone Market Size, By Application, 2014–2021 (USD Million)
Table 82 Brazil: Medical Grade Silicone Market Size, By Application, 2014–2021 (Kiloton)
Table 83 Argentina: Medical Grade Silicone Market Size, By Application, 2014–2021 (USD Million)
Table 84 Argentina: Medical Grade Silicone Market Size, By Application, 2014–2021 (Kiloton)
Table 85 Rest of Latin America: Medical Grade Silicone Market Size, By Application, 2014–2021 (USD Million)
Table 86 Rest of Latin America: Medical Grade Silicone Market Size, By Application, 2014–2021 (Kiloton)


List of Figures (39 Figures)

Figure 1 Medical Grade Silicone Market Segments
Figure 2 Research Design: Medical Grade Silicone
Figure 3 Bottom-Up Approach
Figure 4 Top-Down Approach
Figure 5 Data Triangulation
Figure 6 Prosthetics & Orthopedic to Account for Largest Market Share Between 2016 and 2021
Figure 7 LSR to Be the Fastest-Growing Product Segment in Medical Grade Silicone Market Between 2016 and 2021
Figure 8 North America Accounted for Largest Market Share in Medical Grade Silicone Market
Figure 9 U.S. to Dominate the Global Medical Grade Silicone Market, 2016-2021
Figure 10 High Demand for Implantable Devices is A Major Growth Factor for Medical Grade Silicone Market
Figure 11 North America and Asia-Pacific Have Largest Share Across Major Product Forms, 2015
Figure 12 Prosthetics & Orthopedic is the Largest and Fastest Growing Segment
Figure 13 North America Accounted for the Largest Market Share in 2015
Figure 14 Prosthetics & Orthopedic has Largest Market Share in Asia-Pacific
Figure 15 Asia-Pacific has the Highest Growth Potential in the Medical Grade Silicone Market
Figure 16 Drivers, Restraints, Opportunities, and Challenges in the Medical Grade Silicone Market
Figure 17 Value Chain Analysis: Device Designing is Most Important and Critical Node of Value Chain
Figure 18 Porter’s Five Forces Analysis
Figure 19 Medical Grade Silicone Market: Patent Analysis
Figure 20 Gels are the Most Widely Used Silicone Product Form in the Medical Industry
Figure 21 Medical Grade Silicone Market Segmentation, By Application
Figure 22 Regional Snapshot (2016–2021): India and China are Emerging as Strategic Destinations
Figure 23 North American Market Snapshot: U.S. Accounted for the Largest Medical Grade Silicone Market, 2016–2021
Figure 24 Europe Market Snapshot: Prosthetics & Orthopedic to Dominate the Market (2015)
Figure 25 Asia-Pacific Market Snapshot (2015): Prosthetic & Orthopedic Application Expected to Drive the Market in Asia-Pacific
Figure 26 Brazil Dominates the Medical Grade Silicone Market in Latin America
Figure 27 Growth Strategies Adopted By Top Five Companies
Figure 28 Battle for Market Share: New Product Launch is the Key Strategy
Figure 29 DOW Corning: Company Snapshot
Figure 30 DOW Corning: SWOT Analysis
Figure 31 Wacker Chemie AG: Company Snapshot
Figure 32 Wacker Chemie AG: SWOT Analysis
Figure 33 3M: Company Snapshot
Figure 34 3M: SWOT Analysis
Figure 35 Shin-Etsu Chemical Co. Ltd.: Company Snapshot
Figure 36 Shin-Etsu Chemical Co. Ltd.: SWOT Analysis
Figure 37 Bluestar Silicones (Elkem Group): SWOT Analysis
Figure 38 Henkel AG & Co: Company Snapshot
Figure 39 Momentive Performance Materials Inc.: Company Snapshot

The market size of medical grade silicone, 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.

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. Medical grade silicones are used to manufacture prosthetics due to their physical properties of chemical inertness, thermal & dimensional stability, elasticity, flexibility, and skin-like texture. Medical grade silicone elastomers have been broadly used in the replacement of ailing small joints and other orthopedic components. The first orthopedic medical grade silicone were hand and foot implants.

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. Additionally, India is projected to overtake China with the highest growth rate, thus driving the global economy. With such growth rate in these countries, the manufacturing sector is also estimated to record a leap, ultimately boosting the medical grade silicone market. The factors driving the growth of the market in Asia Pacific include Japan’s growing medical industry, increasing aged population, rising number of cosmetic & plastic surgeries in India, growing number of cardiovascular diseases, higher domestic demand, and availability of raw materials and low-cost. The market in Asia Pacific, owing to the high demand, is much more dynamic and competitive than its western counterparts. These factors are expected to drive the demand for medical grade silicones in Asia Pacific.

Medical Grade Silicone Market

Although the medical grade silicone market is growing at a significant rate, certain factors could hinder the market growth. The governmental measures to control healthcare cost and lack of investment in product development are restricting the growth of the market to some extent. Stringent and time-consuming regulatory policies are the major challenges for the market.

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. They have strengthened their market position through diverse product portfolios, strategically positioned R&D centers, consistent strategic development activities, and technological advancements. They have been adopting various organic and inorganic growth strategies, such as expansions, agreements & joint ventures, and new product launches & developments to increase their market share.

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