Market Overview
Medical Foam Market is expected to grow at a CAGR of 6.9% during the forecast period 2024-2031.
Medical foams are prepared for a wide range of healthcare applications, seen in various medical environments such as the obstacle against bacteria to overcome the risk of germ and disease spread.
Market Summary
|
Metrics |
Details |
|
CAGR |
6.9% |
|
Size Available for Years |
2022-2031 |
|
Forecast Period |
2024-2031 |
|
Data Availability |
Value (US$) and Volume (Tons) |
|
Segments Covered |
Type, Material, Application and Region |
|
Regions Covered |
North America, Europe, Asia-Pacific, South America and Middle East & Africa |
|
Fastest Growing Region |
Asia-Pacific |
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Largest Region |
North America |
|
Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights. |
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Market Dynamics
Growing applications of medical foams in medical devices
The product is now increasingly used as a substitute for conventional material in the healthcare sector for manufacturing instruments, such as prosthetics and orthopedic models, as they are lightweight and have excellent compressive and tensile strengths. Further, Medical foam plays the main role in patient recovery in major surgeries. Therefore the major key players are focusing on product development, manufacturing and cost-effective medical foam to uplift the medical sectors. The respective facts fuel market growth over the forecast period.
Price volatility of raw materials and finished products
The price of raw materials such as polyurethane, polyvinyl chloride and others depend the price of crude oil as they are manufactured from the aforementioned raw material. In recent years, crude oil prices are fluctuating extensively due to the after effects of Russia- Ukrane war, COVID-19 pandemic, among sveral other factors. Since, the volatility of raw materials causes fluctuations in the prices of finished products, thus reduce their adoption and demand, price volatility of raw materials and finished products are considered the major factor that limit market growth.
Market Segment Analysis
The global medical foam market is segmented based on type, material, application and region.
Ability to relive pressure and promote healing
One of the main advantages of medical foam in bedding and cushioning applications is its ability to relieve pressure. Medical foam is designed to redistribute the body's weight and reduce pressure points, which helps prevent pressure ulcers and promote healing. The respective fact is particularly important for patients who are bedridden or have limited mobility, as they are at a higher risk of developing pressure ulcers. As a result, the bedding and cushioning applications sgement in the market is growing rapidly and have significant market share.
Market Geographical Share
The increasing number of hospitals, the number of medical tourism sectors and the increasing old age population
Asia-Pacific has a leading regional share in the global medical foam market. It accounts for the largest market share due to the growing popularity of medical foam in the region. The increasing number of hospitals, the number of medical tourism sectors and the increasing old age population, such as in Japan, are the major factors in growing the medical foam market.
Companies and Competitive Landscape
The major global players include BASF SE, Huntsman International LLC, Recticel NV, Foamtec Medical and General Plastics Manufacturing Company. Inc, Avery Dennison Corporation, Sekisui Chemicals Co. Ltd., Rogers Corporation, UFP Technologies INC, Zetefoams plc.
Key Developments
- On March 10, 2022, Foamtec Medical created a novel foam formulation that is intended to collect the most sample volume and discharge the most. Currently the only company that formulates and produces medical-grade polyurethane foam on a fully integrated basis is Foamtec Medical.
- On June 30, 2022, Vanderbilt University scientists announced the development of a synthetic biodegradable foam that can reduce inflammation, encourage the growth of blood vessels and support the quick healing of chronic skin wounds. This discovery may one day enhance medical care for sick patients while also possibly lowering the costs of a significant global health issue.
- On March 25, 2019, Joyce Foam Products teamed up with Atlas Copco Rental Australia to keep producing foam and fulfil orders even in the event of a major power loss brought on by a violent storm.
The global medical foam market report would provide approximately 61 tables, 60 figures and 192 Pages.
