Pune, India, Jan. 19, 2022 (GLOBE NEWSWIRE) -- The global medical foam market is estimated to reach USD 28.54 Billion in 2021 and is expected to grow at a CAGR of 5.87% during the forecast period, as per a detailed market study by Quince Market Insights.
The global medical foam market is principally driven by the rapid expansion of the medical devices sector, as well as the increase in global health expenditure.
The increasing global population, and growing health concerns among consumers related to personal hygiene because of rising cases of pandemic outbreaks, like COVID- 19, H1N1 grippe, and H5N1 Avian influenza.
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Additionally, they are rapidly increasing the demand for many hospital bedding, and medical devices, other medical equipment for treatment purposes, which, in turn, is expected to drive the medical foam demand during the forecast period.
The use of medical foams mainly for the packaging of various medical devices, and pharmaceutical products are another important factor servicing the expansion of the medical foams market.
Additionally, with the increasing demand for implantable medical devices on record of technological advancements and growing awareness is likely to drive the global medical foam market growth during the forecast period.
However, fluctuations of raw material prices are the main factor limit the market growth during the forecast period.
Global Medical Foam Market, by Form
Based on form, market is divided into flexible, rigid, spray and others. Among these segments, the flexible foam captures the largest market share in global medical foam market 2021 and is anticipated to remain largest till the forecast period. The growth of the flexible foam can be attributed to its consumption of bedding & cushioning applications, foam dressing in wound care applications, packaging of medical devices, and others.
In addition, the demand of the flexible foam is huge in such applications mainly to its characteristics such as softness, high impact and moisture resistance, and mechanical properties.
Global Medical Foam Market, by Product
Based on product, the market is divided into polyurethane, polystyrene, and polyolefin and others. Among these segments, the polyolefin captures the largest market share in global medical foam market 2021 and is anticipated to remain largest till the forecast period. Polyolefin is predicted to be the fastest-growing due to its rising applications in medical components and packaging in the healthcare and medical industries.
In addition to this, polyolefin is mostly used for packaging sensitive devices and instruments because of its excellent insulation and vibration dampening characteristics.
Global Medical Foam Market, by Material
Based on material type, market is divided into polymers, latex, metals and others. Among these segments, the polymers capture the largest market share in global medical foam market 2021 and is anticipated to remain largest till the forecast period. Polymers have a large share of the market due to their properties such as heat retention, sound absorption, low weight, and excellent cushioning biocompatibility.
Besides, that polystyrene foam, polyurethane foam, polyolefin foam, and others are the most common types of polymer foam used in medical foam applications. The polymers segment of the medical foam market is anticipated to dominate the medical foam market.
Global Medical Foam Market, by Grades
Based on grades, market is divided into heat and moisture exchange (HME) foams, hydrophilic foam, rubber foams, PVA foams, reticulated foam, visco elastic foam or memory foam, and others. Among these segments, the heat and moisture exchange (HME) foams capture the largest market share in global medical foam market 2021 and is anticipated to remain largest till the forecast period 2030.
Heat and moisture exchange (HME) foams are one of the essential components in an exceedingly major selection of significant medical breathing and anesthesia systems and equipment. So, with the increasing severe health related problems like cancer, heart attacks the demand for medical foam market during the forecast period.
Global Medical Foam Market, by Application
Based on application, the market is divided into bedding & cushioning, medical packaging, medical devices & components, and prosthetics & wound care and others. The bedding & cushioning segment capture the largest market share in global medical foam market 2021 and is anticipated to remain largest till the forecast period 2030.
Due to increase in the aging population and the need for patient comfort is anticipated to drive the bedding and cushioning segment. In addition to this, flexible foams are preferred for bedding, and upholstery because of the high resilience provided by them.
The materials which are used in wheelchair seats, cushions, comfort/positioning pads, surgical beds, and orthopedic support, and others. Additionally it is contributing to the demand for medical foams in the bedding & cushioning applications.
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Global Medical Foam Market, by Region
Based on region, the global medical foam market is assessed into North America, Europe, Asia Pacific, Middle East and Africa, and South America.
Asia Pacific captures the largest market share in global medical foam market 2021 and is anticipated to remain largest during the forecast period. The factors attributed to China is one of the principal consumers of medical foam within the Asia Pacific region.
The market here is observing growth due to the demographic changes, rising healthcare spending, industrial progression, and improving economic conditions. Besides, rising per capita healthcare spending within the kind of insurance within the U.S. has been one amongst the many trends impacting the market in North America.
Recent Key Developments in the Global Medical Foam Market
September 2017-SABIC carry on its global expansion with the development of a new polypropylene pilot plant in Geleen, Netherlands. In addition, this expansion and development the company will focus on facilitate the rising demand for polypropylene.
Some Key Findings of the Global Medical Foam Market
- The analysis includes a global medical foam study, expansions, and forecasts, along with a country-specific analysis.
- An in-depth analysis of the global medical foam comprises segment by form, product, material, grade, application, and regions with an analysis of trend-based insights and factors.
- Product offering details on competitive benchmarking and evolution approach adopted by the industry players, along with their investments in the last five years in the global medical foam market have been provided in the report.
- The market research includes a study of the provinces, boundaries, drivers, prospects, guidelines, challenges, and procedures that are propelling the global medical foam.
- The study also offers complex measures of potential market effect during the forecast period and an in-depth overview of the leading companies operating in the global market.
- External as well as internal variables that are expected to have a positive or negative effect on companies have been evaluated, which will offer the decision-makers a strong futuristic view of the industry.
- The research also helps understand the dynamics of the global medical foam structure by analyzing market segments and by projecting the size of the market.
- The report helps to understand the effects of COVID-19 pandemic on global medical foam market.
Some major industry players functional in the global medical foam are Future Foam, Rogers, UFP Technologies and The Woodbridge, BASF, The Dow Chemical, Bayer, Huntsman, Trelleborg, Inoac, Vita, Armacell, Foamcraft, Foampartner, Fxi-Foamex Innovations.
To Find more insights on this topic, visit Quince Market Insights report titled, “Medical Foam Market, by Form (Flexible, Rigid, Spray), Product(Polyurethane, Polystyrene, and Polyolefin and Others ), Grades (Heat and Moisture Exchange (HME) Foams, Hydrophilic Foam, Rubber Foams, PVA Foams, Reticulated Foam, Visco Elastic Foam Or Memory Foam, and Others), Application (Bedding & Cushioning, Medical Packaging, Medical Devices & Components, Prosthetics & Wound Care), and Region (Asia Pacific, North America, Europe, Middle East and Africa, and South America)” —in-depth analysis along with the table of contents (ToC).
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