The "Global Medical Grade Silicone Market Insights, Opportunity, Analysis, Market Shares And Forecast 2017 - 2023" report has been added to ResearchAndMarkets.com's offering.

Global medical grade silicone market is expected to have a CAGR of 6.98% during the forecast period 2016-2023.

The key factors driving the market growth are substantial increases in application areas, such as orthopedic, prosthetics and medical devices, increasing road accident instances worldwide, growing need for disposable devices and rising incidences of cosmetic/plastic surgeries. Such factors contribute to the growth of the global medical grade silicone market during the forecast period. However, surge in cost of raw material and strict government regulations restricts the growth of global medical grade silicone market during the forecast period.

North America held the largest market share in terms of revenue for the medical grade silicone market in 2016 followed by Asia Pacific and Europe. North America is expected to dominate the market during the forecast period due to advanced healthcare facilities as well as healthcare infrastructure in the region. However, Asia Pacific is expected to be the fastest growth region in medical grade silicone market during the forecast period. Highest growth rate of Asia Pacific medical grade silicone market is majorly witnessed due to increasing demand for medical grade silicone based devices and products across countries of Asia Pacific such as China, Japan, India and South Korea.

The global medical grade silicone market is influenced by the presence of leading companies, such as Dow Corning Corporation (U.S.), Wacker Chemie AG (Germany), Shin-Etsu Chemical Co. Ltd. (Japan), Momentive Performance Materials Inc. (US), 3M Company (US), etc. Product launch, joint venture, merger and acquisition are some of the crucial strategies adopted by the key market players to gain competitive advantage.

Market Determinants

Market Drivers

  • Increasing Application of Orthopedic, Prosthetics and Medical Devices
  • Increasing Road Accident Instances Worldwide
  • Growing Need for Disposable Devices
  • Rising Incidences of Cosmetic/Plastic Surgeries

Market Restraints

  • Strict Government Regulations
  • Surge in Cost of Raw Material

Market Opportunities

  • Swift Growth of Global Healthcare Industry
  • Increase in Global Income Level Accompanying Elderly Population

Market Challenges

  • Providing Affordable Products
  • Disparity in Regulations Across Countries

Companies Mentioned

  • 3M Company (U.S.)
  • Bioplexus (U.S.)
  • Bluestar Silicones (France)
  • Dow Corning Corporation (U.S.)
  • Henkel Ag & Co. (Germany)
  • Momentive Performance Materials Inc. (U.S.)
  • Nusil Technology Llc (U.S.)
  • Polymer Science Inc. (U.S.)
  • Primasil Silicones Limited (U.K.)
  • Royal Dsm (Netherlands)
  • Saint-Gobain Performance Plastics (France)
  • Shin-Etsu Chemical Co. Ltd. (Japan)
  • Speciality Silicone Fabricators Inc. (U.S.)
  • Wacker Chemie Ag (Germany)
  • Zodiac Coating (Germany)

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