The Fact.MR market analysis on the medical foam market highlights increasing application in medical packaging, braces, and hydrophilic dressings among others as primary growth enabler.
170 Pages Market Research Survey by Fact MR, A Market Research and Competitive Intelligence Provider Offers Deep Dive into Key Developments in Medical Foam Market
The Fact.MR market analysis on the medical foam market highlights increasing application in medical packaging, braces, and hydrophilic dressings among others as primary growth enabler. It also offers insights into developments across segments including product, material, and applications.
Fact.MR: Increasing global healthcare expenditure and rapid expansion of the medical device sector are chief factors complementing growth prospects for medical foam manufacturers in 2021, with the market reaching US$ 27 Bn in 2020.
Sales of medical foams are anticipated to rise during the forecast period, owing to increasing consumer focus on healthcare are periodic cleanliness. As per a recent market survey by Fact.MR, the market is poised to expand at a positive 6% CAGR, totaling US$ 38 Bn by 2031.
Medical foam finds applications in bedding and cushioning, medical packaging, medical braces, and hydrophilic dressing. The antibacterial properties in medical foam are boosting its application in wound care and prosthetics, further driving sales in the market.
Besides this, medical foams protect medical devices such as surgical equipment and digital devices including LCD screens from harsh climatic conditions and ensure safety during transportation. These factors are majorly promoting the use of medical foam in the packaging industry.
The expansion in healthcare infrastructure is boosting the construction of more hospitals and medical care centers, which is translating into demand for medical foam in hospital bedding and cushioning.
Additionally, demand uptick for polyurethane foam is likely in the upcoming years owing to its impressive properties such as biocompatibility, heat preservation, sound absorption, and optimal cushioning.
Medical foam is also used in bedding accessories including pillows, neck and back braces, and shoulder support cushions. High demand for these provides will provide lucrative opportunities to medical foam manufacturers to develop comfortable and sustainable medical foam-based products.
Flexible medical foams will be in high demand during the forecast period due to increasing applications in bedding, medical packaging, and wound dressing. Factors including resiliency and soft texture of flexible foams will make them more preferable as compared to rigid and spray foams.
As per Fact.MR, the US medical foam market is anticipated to witness healthy growth during the assessment period. Growth can be attributable to rising per capita healthcare expenditure and the presence of a well-established pharmaceutical industry.
“Expansion of healthcare infrastructure will continue providing tailwinds to medical foam sales. Increasing applications in medical packaging and cushioning products will offer lucrative opportunities to manufacturers for market expansion,” says a fact MR analyst.
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Key Takeaways from Medical Foam Market Analysis
- Growth outlook of the medical foam market remains positive, with the market expanding at a 6% CAGR, reaching US$ 38 Bn by 2031.
- Sales of flexible medical foam will gain momentum, growing at a 7% CAGR.
- By material, polyurethane medical foam market will expand at a robust 7% CAGR, accounting for half of the total market sales.
- Demand for medical foam in bedding and cushioning will continue to rise at around 6% CAGR, holding 36% of the market share.
- China is forecast to dominate the market, reaching US$ 6 Bn by 2031, exhibiting an impressive 11% CAGR.
- The U.S. medical foam market will continue showcasing growth patterns due to robust healthcare infrastructure and the presence of various medical device manufacturing companies.
Growth Drivers:
- Increasing applications of medical foam in the packaging industry will significantly boost sales in the market.
- Growing expansion in healthcare infrastructure will foster sales of medical foam in the market.
Key Restraints:
- Fluctuating raw material prices may stunt the medical foam market growth.
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Competitive Landscape
Key players in the medical foam market are launching innovative products to maintain their position in the highly competitive market. Collaborations, partnerships, mergers, and acquisitions are among other growth strategies applied by major players in the medical foam market. For instance, in April 2021, 3M pledged to reduce its plastic usage by 125 pounds by 2025. The commitment was intended to reduce plastic usage in all 3M products to eliminate its carbon footprint for environmental conservation and sustainable products.
Top Manufacturers of Medical Foam Include:
- 3 M
- General Plastics Manufacturing Company
- Zotefoams plc
- Sekisui Chemical Co
- UFP Technologies
- Foamtec Medical
- Technical Foam Services Limited
- Freudenberg Performance Materials s.a.s
- Apollo Foam Limited
- Draka Interfoam B.V
- Foamtec Medical
- Global Medical Foam
More Valuable Insights on Medical foam Market
Fact MR provides an unbiased analysis of the medical foam market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the global medical foam market with a detailed segmentation on the basis of:
Product:
- Flexible Medical Foam
- Rigid Medical Foam
- Spray Medical Foam
Material:
- Polyurethane Medical Foam
- Polystyrene Medical Foam
- Polyolefin Medical Foam
- Polyvinyl Chloride Medical Foam
Application:
- Medical Foam Used in Bedding & Cushioning
- Medical Foam Used in Medical Packaging
- Medical Foam Used in Medical Devices & Components
- Medical Foam Used in Prosthetics & Wound Care
Region:
- North America
- Europe
- Asia Pacific
- Central & South America
- Middle East & Africa
Key Questions Covered in the Medical Foam Market Report
- The report offers insight into medical foam market demand outlook for 2021-2031
- The market study also highlights projected sales growth for medical foam market between 2021 and 2031
- Medical foam market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
- Medical foam market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others
Explore Fact.MR’s Coverage on the Healthcare Domain
Advanced Wound Care Market - Incidences of chronic wounds are on the rise, putting a lot of pressure on the advanced wound care sector. As a result, advanced wound care solutions are more readily available. Advanced wound care solutions are helpful because they have features like keeping a consistent temperature around the area to allow for optimal oxygen flow. Furthermore, advanced wound care treatments help to prevent infection and remove dead tissue from the wound.
Prosthetic Liners Market - The prosthetic liners market is expected to expand steadily in the short term, but with a positive outlook for the rest of the projection period. The increasing number of trauma cases, accidental cases of injuries or road accidents, government initiatives related to the product, and the emergence of novel liner materials are major driving factors of the Prosthetic liners market. These factors lead to an increase in demand for the product and aid in market growth.
Orthopedic Braces and Support System Market - An increase in demand for orthopedic braces and support systems has resulted from the rising prevalence of arthritis, spinal deformities, sciatic nerve, impaired muscle, paralysis, fracture damage, and stroke. Bulging or ruptured discs, scoliosis, stress-induced back discomfort, and scoliosis are all caused by improper and heavy lifting. Furthermore, the increased requirement to support weak limbs continues to drive sales of orthopedic braces and supports around the world.
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Source: Fact.MR