Medical Elastomers Market, By Type (Thermoplastic Elastomer and Thermoset Elastomer), By Application (Medical Tubes, Catheters, Syringes, Non-woven and Films, Gloves, Medical Bags, Implants, and Others), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Published In : Jun 2024

Code : CMI5081

Pages :175

Formats :

Excel and PDF

Industry : Medical Devices

Market Challenges: High Cost of Silicone

High cost of silicone is expected to hinder growth of the global medical elastomers market. For instance, Wacker Silicones announced that silicones were going to see increased prices ‘on average by 30% or more.’ Both in 2021 and 2022, prices of products in its portfolio increased. Wacker increased global prices for silicones between 10% and 20% in April 2021.

Market Opportunities: Favorable Government Initiatives

Favorable government initiatives to provide high-quality healthcare facilities are expected to provide significant growth opportunities for players in the global medical elastomers market. For instance, in 2021, the Ministry of Health and Family Welfare (MoHFW), Government of India announced various plans to improve healthcare facilities in the country. The government also planned to invest USD 6,418 Mn in healthcare sector in the coming future.