APAC to Dominate Medical Foam Market until 2025
According
to TechSci Research report, “Global
Medical
Foam Market By Form (Flexible, Rigid, Spray), By
Material (Polymers, Latex, Metals), By Application (Bedding &
Cushioning, Medical Packaging, Medical Devices & Components, Prosthetics
& Wound Care, Others), By Region, Forecast & Opportunities, 2025”, global
medical foam market is expected to witness a significant CAGR during the
forecast period. Rapid growth of the implantable device sector is one of the major factors accounting
for the growth of global medical foam market. These medical
foams are usually used to clean rooms for anti-bacterial applications so that
the risk of disease, germs, spreading throughout hospitals can be reduced, which
can be accredited to foam's resistance to contamination, thereby expected to
bode well for the growth of global medical foam market during the forecast years.
In addition to this, continuous ongoing technological advancements in
healthcare industry is resulting in shift towards foam based wound care systems
from traditional wound care systems across the globe is positively influencing
the growth of global medical foam market. Also, low cost of these medical foam
products is expected to make headway for the growth of global medical foam market
over the coming years. Along with this, supportive government funding is
positively contributing to the market growth across the globe. Moreover, increasing
industrialization is resulting in increase of medical foam manufacturing industries,
which is anticipated to spur the market growth over the coming years.
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Global
medical foam market can be segmented based on foam, material, application, company,
and region. Considering the material, the market is fragmented into polymers, latex,
and metals. The polymers segment dominated the global medical foam market in
terms of largest market share until 2019 and is further anticipated to maintain
its dominance during the forecast period as well. This is because of its abundant
availability, low cost, and ease of manufacturing. Additionally, foamed
polymers offer certain benefits such as low weight, sound absorption, heat
preservation, excellent cushioning, and biocompatibility, which is estimated to
boost the growth of segment over the coming years. In terms of application, the
market is fragmented into bedding & cushioning, medical packaging, medical
devices & components, prosthetics & wound care and others. Out of
which, the medical packaging application segment dominated the market until
2019 and is further is projected to grow at a high pace during the forecast
period as the packaging of medical devices, tools, and equipment is important in
order to maintain the integrity and hygiene of the product.
The Dow Chemical Company, SEKISUI
CHEMICAL CO., LTD., Huntsman Corporation, Trelleborg AB, BASF SE, Recticel NV,
INOAC Corporation, UFP Technologies, Inc., FXI Holdings, Inc., Armacell
International S.A., Rogers Corporation, Freudenberg Group, Molnlycke Health
Care, VPC Group Inc., FoamPartner Group, are among others
are the leading players operating in global medical foam market. The leading
players are adopting several growth strategies to enhance the market scenario
of medical foam. Other competitive strategies include product launches; mergers
& acquisitions; agreements, partnerships, and collaborations; and
expansions to diverse their product portfolio in order to strengthen their
market position.
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“Asia-Pacific is forecast to dominate the global medical foam market during
the next five years on account of increasing healthcare spending in the region.
Furthermore, improving economic status is also
contributing to the growing trend. Moreover, increased use of these products in
large number of healthcare institutes, is anticipated to bolster the market
growth through 2025.”, said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“Global Medical Foam Market By Form (Flexible,
Rigid, Spray), By Material (Polymers, Latex, Metals), By Application (Bedding
& Cushioning, Medical Packaging, Medical Devices & Components,
Prosthetics & Wound Care, Others), By Region, Forecast & Opportunities,
2025” has
evaluated the future growth potential of global medical foam market and
provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in global medical foam market.
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