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Medical Foam Market Worth $37.2 Billion by 2025 - Exclusive Report by MarketsandMarkets™
CHICAGO, March 26, 2020 /PRNewswire/ -- According to the new market research report "Medical Foam Market by form (flexible, rigid, spray), material (polymers, latex, metals), application (bedding & cushioning, medical packaging, medical devices & components, prosthetics & wound care), and region - global forecast to 2025", published by MarketsandMarkets™, the Global Medical Foam Market size is projected to grow from USD 27.7 billion in 2020 and reach USD 37.2 billion by 2025, at a CAGR of 6.1% from 2020 to 2025. The growth of this market can be attributed to the increasing aging population, rise in global health expenditure, and growth of the implantable device sector and consumer shift from traditional to advanced wound care products.
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The flexible segment to lead the medical foam market during 2020-2025
Flexible foam is the most widely consumed since it is soft, flexible, and resilient. The growth of this foam segment can be attributed to its lower cost compared to rigid and spray foam. Additionally, the substantial consumption of flexible foam in bedding & cushioning applications, packaging of medical devices, and foam dressing in wound care applications, among others, has been driving the market growth. The consumption of flexible foam is higher in such applications due to its properties such as softness, moisture resistance, high impact & mechanical properties.
Polymers segment is expected to lead the medical foam market during the forecast period
Based on material, the basic oxygen furnace segment is expected to be the largest segment of the medical foam industry. The growth of this segment can be attributed to the abundant availability, ease of manufacturing, and low cost. Foamed polymers possess properties such as low weight, heat preservation, sound absorption, biocompatibility, and excellent cushioning. The major types of polymer foam used in medical applications include polyurethane foam, polystyrene foam, polyolefin foam, and others.
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Medical packaging is expected to register the highest growth during the forecast period
Medical packaging is expected to register the highest growth in the global medical foam market during the forecast period. The packaging of medical devices, tools, and equipment is crucial to maintain the integrity and hygiene of the product. This includes the packaging of implants, medical equipment & tools, medical devices, and in-vitro diagnostic devices (IVDs). The type of packaging material varies with the application and depends on the functionality of the product; for instance, plastics or metals are used in implants.
Asia Pacific to lead the global medical foam market during the forecast period
Asia Pacific accounted for the largest share of the global medical foam industry in 2020. The market here is anticipated to grow at the highest CAGR between 2020 and 2025. The Asia Pacific region is an emerging and lucrative market for medical foam, owing to the demographic changes, increasing healthcare spending, industrial development, and improving economic conditions. This region constitutes approximately 60% of the world's population, resulting in the wide-scale use of medical packaging, prosthetics, and medical devices.
Some of the leading manufacturers of medical foam profiled in this report are The Dow Chemical Company (US), SEKISUI CHEMICAL CO., LTD. (Japan), Huntsman Corporation (US), Trelleborg AB (Sweden), BASF SE (Germany), Recticel NV (Belgium), INOAC Corporation (Japan), UFP Technologies, Inc. (US), FXI Holdings, Inc. (US), Armacell International S.A. (Germany), Rogers Corporation (US), Freudenberg Group (Germany), and Molnlycke Health Care (Sweden).
Polyurethane Foam Market by Type (Flexible, Rigid, Spray Foam), End User (Bedding & Furniture, Building & Construction, Electronics, Automotive, Footwear, Packaging), and Region (Asia Pacific, Europe, North America)
Polymer Foam Market By Type (PU, PS, PO, PVC, Phenolic, Melamine), End-Use Industry (Building & Construction, Packaging, Automotive, Furniture & Bedding, Footwear, Sports & Recreational), and Region
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