MEDICAL GRADE SILICONE MARKET ANALYSIS

Medical Grade Silicone Market by Product Type (Elastomers, Gels, Medical Adhesives, Medical Coatings, and Others), by Application (Contact Lenses, Medical Devices, Medical Adhesives, Medical Tapes, Orthopedic Components, Prosthetics, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030

Published In : Jul 2022
Code : CMI881
Pages :148
Formats :
Excel and PDF
Industry : Medical Devices

Market Challenges And Opportunities

Drivers

Increasing healthcare expenditure in developed as well as developing regions will enhance the market growth during the forecast period. For instance, according to the Center for Medicare & Medicaid Services in December 2021, health spending is expected to surge at a 5.4% annual rate from 2019 to 2028 to surpass US$ 6.2 trillion by 2028. Moreover, healthcare expenditure can result in improved provision of health opportunities that can widely strengthen the human capital as well as enhance the productivity, thus contributing towards a better economic performance.

Market Restraints

Stringent government regulations associated with the use of medical grade silicone is restraining the global medical grade silicone market. Fluctuations in raw material prices is anticipated to act as growth restraints for the global medical grade silicone market over the next decade.