Rockville, April 04, 2023 (GLOBE NEWSWIRE) -- By the end of the forecast period, the worldwide medical foam market might reach a value of US$ 38 billion and is anticipated to grow at a CAGR of 4% by 2032. The market is expanding primarily as a result of rising healthcare spending, an ageing population, and consumer preference for cutting-edge wound care solutions.
By the end of 2032, demand for polyurethane foam is anticipated to grow at a CAGR of 8% and account for 50% of the global market.
From 2017 to 2021, there was a 3% increase in value CAGR for the global medical foam market. Its growth is ascribed to a number of factors, including the ageing population, rising health spending globally, the rapid growth of the medical device industry, and rising consumer interest in health and routine hygiene.
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| Medical Foam Market Scope | |
| Report Coverage | Details |
| Historic period | 2017-2021 |
| Forecast period | 2022-2032 |
| Growth momentum & CAGR | Accelerate at a CAGR of 4 % |
| Market growth 2022-2032 | US$ 38 Billion |
| Market structure | Fragmented |
| Regional analysis | North America, Europe, APAC, South America, and Middle East and Africa |
| Performing market contribution | North America 32% share |
| Key countries | US, Canada, UK, France, and Germany |
| Competitive landscape | Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
| Key companies profiled | 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 |
| Market dynamics | Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
| Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Drivers
- Medical foam is widely used in wound dressings due to its ability to conform to the shape of the wound and provide a protective barrier against infections. With the increasing prevalence of chronic wounds, such as diabetic foot ulcers, pressure ulcers, and venous leg ulcers, the demand for medical foam in wound care applications is expected to increase.
- Moreover, medical foam is used in orthopedic applications to provide cushioning and support. With the increasing incidence of orthopedic injuries and disorders, such as arthritis and osteoporosis, the demand for medical foam in orthopedic applications is expected to increase.
- Advances in foam manufacturing technology have led to the development of new and improved medical foam products. These products offer better performance and are more cost effective than traditional foam products, driving their adoption in the medical industry.
- Medical foam is also used in the production of prosthetics and padding for wheelchairs, crutches, and other mobility aids. As the number of people with disabilities increases, the demand for these products is also expected to rise.
- Medical foam products are easy to sterilize and disinfect, making them ideal for use in healthcare settings where infection control is paramount. As awareness of the importance of hygiene and infection control increases, the demand for medical foam products is expected to rise.
Market Trends
- Polyurethane foam is widely used in medical foam products due to its durability, versatility, and ability to conform to the body. With the development of new polyurethane foam products, their adoption in the medical industry is expected to increase.
- Antimicrobial foam is used in healthcare settings to prevent the spread of infections. With the increasing awareness of infection control and the need for hygiene, the demand for antimicrobial foam products is expected to rise.
- Medical foam products are increasingly being customized to meet the specific needs of patients. This trend is expected to continue as patients seek personalized care and medical products.
- As environmental concerns gain more attention, there is a growing demand for eco-friendly and sustainable medical foam products. Key companies in the market are developing new products that are biodegradable and have a reduced carbon footprint.
- Foam products are being increasingly used in dental applications, such as dental implants and denture liners. This trend is expected to continue as the dental industry seeks to improve patient comfort and reduce the risk of infections.
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Restraints
- The production of medical foam requires expensive raw materials, which can significantly increase the cost of the final product. This can make medical foam products less affordable and less accessible for some consumers.
- Medical foam products are subject to strict regulatory requirements to ensure their safety and efficacy. Meeting these requirements can be time-consuming, which can act as a barrier for some companies.
Competitive Landscape:
Key players in the market are focusing on various strategies such as agreements, new product launches, and collaborations.
- In March 2022, Foamtec Medical launched BactiBlock Antimicrobial Foam, a medical-grade foam product that is infused with an antimicrobial agent to reduce the risk of infection.
- Engineered Medical Systems launched HydroCell Foam, a polyurethane foam product that is used in surgical applications to provide cushioning and support.
- 3M launched a new silicone foam dressing product for wound care. The dressing is designed to provide a moist healing environment and conform to the wound site.
Moreover, many key companies have launched new bio-based medical foam products, such as those made from plant-based materials like corn or sugar cane. These products offer a more sustainable alternative to traditional petroleum-based foam products.
Key Market Segments Covered in Medical Foam Industry Analysis
- By Product
- Flexible Medical Foam
- Rigid
- Spray
- By Material
- Polyurethane Medical Foam
- Polystyrene
- Polyolefin
- Polyvinyl Chloride
- By Application
- Bedding & Cushioning
- Medical Packaging
- Medical Devices & Components
- Prosthetics & Wound Care
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Key Questions Covered in the Medical Foam Market Report
- What will be the estimated size of the Market in 2023?
- At what rate will the global Medical Foam sales grow until 2032?
- Which are the factors hampering the Medical Foam demand?
- Which region will spearhead the growth in the global industry by 2032?
- Which are the factors driving sales in the Medical Foam Market during the forecast period?
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