The global medical foam market size is estimated at USD 27.7 billion in 2020 and is projected to reach USD 37.2 billion by 2025, at a CAGR of 6.1% from 2020 to 2025. The bedding & cushioning segment was the largest application of medical foam owing to a rise in the geriatric population and an increase in health-related concerns in the aged population leading to high demand for comfort and orthopedic support. The increase in the health expenditure of several countries has led to growth in the market for medical foam.
Major companies such as The Dow Chemical Company (US), SEKISUI CHEMICAL CO., LTD. (Japan), Huntsman Corporation (US), Trelleborg AB (Sweden), BASF SE (Germany), Recticel NV (Belgium), INOAC Corporation (Japan), UFP Technologies, Inc. (US), FXI Holdings, Inc. (US), Armacell International S.A. (Germany), Rogers Corporation (US), Freudenberg Group (Germany), Mölnlycke Health Care AB (Sweden), VPC Group Inc. (Canada), FoamPartner Group (Switzerland), The Woodbridge Group (Canada), General Plastics Manufacturing Company (US), and others are key players in the global medical foam market. These players have been focusing on developmental strategies, such as expansions, mergers & acquisitions, partnerships, and new product launches & developments, which have helped them expand their businesses in untapped and potential markets. They have also been adopting various organic and inorganic growth strategies, such as mergers & acquisitions, and expansions, to enhance their current positions in the medical foam market.
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The Dow Chemical Company is one of the leaders in the chemical industry and a global leader in the medical foam market. The company has a global presence with several manufacturing sites and sales offices. The Dow Chemical Company offers several products of polyurethane foam for applications such as bedding & cushioning and packaging. The foams offered by the company are highly resilient and viscoelastic foams that provide high comfort. The company has a limited presence in emerging markets of the Asia Pacific region. Hence, it could adopt some growth strategies such as acquisitions or mergers with existing players in the region. This could help the company increase its market presence in this untapped region.
SEKISUI CHEMICAL CO., LTD. is a Japanese firm offering various solutions such as polyethylene, urethanes, and polyurethanes for polymer consumers. The company provides medical foam under the brands Softlon and Volara, which are developed by using irradiated cross-linking technology and are nearly 100% closed-cell foam. The company operates and distributes products in North America, Europe, Central/South America, China, Japan, and Asia & Oceania. SEKISUI CHEMICAL CO., LTD. is expanding its business through inorganic growth strategies such as expansion to meet the growing demand for medical-grade foam.
Huntsman Corporation is one of the leading players in the North America region that provides flexible foams for medical applications. Additionally, the company is one of the major players in the isocyanates market. The company has over 75 manufacturing, R&D, and operation facilities in around 30 countries across the globe. The company is involved in the manufacturing of flexible and rigid foam for bedding & cushioning and medical device & component applications. The company concentrates on organic growth strategies such as expansion to increase its product offerings and market presence. For example, the company has plans to expand its polyurethane foam manufacturing facilities to serve customers in North America and other regions.
Medical Foam Market by Form (Flexible, Rigid, Spray), Material (Polymers, Latex, Metals), Application (Bedding & Cushioning, Medical Packaging, Medical Devices & Components, Prosthetics & Wound Care), and Region - Global Forecast to 2025
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