Global Medical Foam Market is valued approximately at USD 26.1 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 6.10% over the forecast period 2020-2026. Medical grade foams are the superior graded non-toxic, biocompatible, sterilized and low particulate products which are formulated for numerous applications in medical industry to meet many challenges existing in the medical environments. It is a specific anti-microbial substance with resisting against the contaminant’s property. These medical foams are mainly used to clean rooms for anti-microbial applications to decrease the risk of germs, disease, that spreads throughout hospitals. These medical foams are gaining acceptance in the medical industry due to various factors such as increasing number of surgical procedures along with shift from traditional to advanced wound care products globally.
Furthermore, rise in demand for sustainable packaging solutions and growing advancements in wound care technology are expected to drive the prosthetics & wound care application, which is further expected to create significant growth opportunity in the market over the forecast period. For instance, in November 2019, Avery Dennison Corporation, launched MED 5710SI a novel five-layer foam dressing comprised of soft skin silicone wound contact layer with enhanced absorbent fiber composite pad. Similarly, in June 2019, Freudenberg unveiled innovative wound dressing, that comprises innovative direct coating of silicone adhesives with more efficient polyurethane foams, that prevents the dressing from sticking to the wound. However, fluctuations in raw material prices impedes the growth of the market over the forecast period of 2020-2026.
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The regional analysis of global Medical Foam market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing demand for high production of the sterilized medical packaged materials along with the increased aging population. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2026. Factors such as higher demand of the medical foam, consumer awareness, increasing investments in the healthcare sector would create lucrative growth prospects for the Medical Foam market across Asia-Pacific region.
Major market player included in this report are:
The Dow Chemical Company
Sekisui Chemical Co., Ltd.
UFP Technologies, Inc.
FXI Holdings, Inc.
Armacell International S.A