Global Medical Grade Silicone Market to Post 9.4% CAGR by 2021, States M&M in Its Report Now Available at MarketPublishers.com11 Jan 2017 • by Natalie Aster
LONDON – Worldwide, the medical grade silicone sector is forecast to gain traction at a 9.4% CAGR, amounting to USD 7.23 billion by end-2021. The product is in high demand due to their tensile strength, long performance life, superior conductivity, and thermal endurance. The rising demand from the APAC region and the expanding application sectors like dental tools, implants, drug-delivery devices, prosthetic repair, disposable medical products, and syringes give a boost to the growth of the medical grade silicone marketplace from pole to pole.
In terms of product types, liquid silicone rubber (LSR) is the most rapidly growing one within the overall market, largely underpinned by a hike in the demand for disposable devices.
Geography-wise, the market of the APAC region is projected to see the most robust growth rate. This is due to the rapidly growing demand in end-user sectors, competitive production costs, and increased economic growth, among others. These factors are urging companies to embrace expansion and R&D strategies in the APAC region. Market participants are permanently focusing on the region to increase market share and boost profitability.
Comprehensive research report “Medical Grade Silicone Market” created by M&M draws up an all-round picture of the market on a global level.
The report segments the medical grade silicone marketplace and offers the most accurate revenue figures for the total market and the sub-segments across diverse verticals and geographic regions. The market is segmented by product form, application, and based on geography.
The study gives an insightful review of the market growth restraints, drivers, opportunities and major challenges. The study sheds light on the key industry trends, canvasses the market competitive situation and trends covering expansions, new product launches, collaborations and partnerships, M&As, etc. The report comprises 10 granular profiles of the key companies in the medical grade silicone market, as well as discloses future market forecasts up to 2021.
Other comprehensive market research reports by M&M are available in its catalogue at MarketPublishers.com.