“The Medical Silicone Molding Market was estimated at US$ 3.8 billion in 2023 and is likely to grow at an impressive CAGR of 6.3% in the long run to reach US$ 5.9 billion by 2030.”
Market Dynamics
Introduction
The medical silicone molding market involves the medical components and parts manufactured with silicone using different processes, such as injection molding, extrusion, over molding, blow molding, compression molding, and transfer molding. Key applications of silicone molding include tubing, seals, surgical and dental implants, and other low-consumable products. Durability, flexibility, biocompatibility, versatility, easy sterilization, etc. are key properties of silicone that make it suitable for various medical applications. Key silicone molded components include plungers, syringe barrels, IV tubing, connectors, catheters, tubing sets, orthopedic implants, and dental prosthetics manufactured using injection molding.
The market experienced slow growth in 2020, followed by robust growth in 2021. The exceptional growth of the market in 2021 was mainly due to an increase in healthcare spending after COVID-19 and the rising demand for personal protective equipment, such as masks and face shields, which have silicone parts.
Market Drivers
Key driving factors of the medical silicone molding market are increasing demand for medical devices in the wake of increasing healthcare spending, increasing demand for personal protective equipment after the pandemic; innovation in medical technologies, such as miniaturization; growing demand for wearable medical devices; increasing focus towards personalized medicine and patient-specific solutions; and advantages of silicone-molded components, such as durable, flexible, non-toxic, hypoallergenic, and biocompatible, meet the stringent regulatory standards.
Key Trends
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A growing trend towards miniaturizing medical devices requires highly precise and small silicone components.
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Rising demand for customized medical devices and patient-specific solutions leads to the demand for customized silicone-molded parts.
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Increasing emphasis on using sustainable and eco-friendly materials. Silicone is preferred due to its recyclability and low environmental impact properties.
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Growing telemedicine and home healthcare solutions are driving the demand for user-friendly, durable, and reliable medical devices that incorporate silicon-molded components.
Key Applications of Silicone Molding:
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Manufacturers are developing silicone-based implantable medical devices with enhanced biocompatibility, durability, and versatility.
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Silicone molding technologies are used to create custom-fit prosthetic and orthotic devices for patients with limb loss or musculoskeletal conditions.
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Silicone molding parts are used in the manufacturing of minimally invasive surgical tools and instruments such as catheters, endoscopes, and laparoscopic devices.
Segments Analysis
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Segmentations
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List of Sub-Segments
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Dominant and Fastest-Growing Segments
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Application Type Analysis
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Tubing, Seals, and Others
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Tubing is expected to be the dominant as well as the fastest-growing application in the coming years
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Material Type Analysis
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LSR and HCR
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During the forecast period, LSR will contribute a larger share of the medical silicone molding market.
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Process Type Analysis
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Injection Molding, Extrusion, and Others
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Extrusion is likely to hold the dominant position in the market.
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Region Analysis
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North America, Europe, Asia-Pacific, and The Rest of the World
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North America is expected to maintain its reign over the forecast period, whereas Asia-Pacific is likely to grow at the fastest rate.
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By Application Type
“Tubing is expected to remain dominant as well as the fastest-growing application of the market during the forecast period.”
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The medical silicone molding market is segmented into tubing, seals, and others.
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Tubing is expected to remain the dominant and fastest-growing application type in the market during the forecast period.
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Key desirable properties of silicone tubing: Silicone tubing is flexible and kink-resistant, they are durable (can withstand repeated use and sterilization), they are temperature resistant, and the biocompatibility of silicone material makes it used for the body.
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Key applications of silicone tubing are catheters, drainage tubes, respiratory devices, dialysis tubes, etc.
By Material Type
“LSR is expected to remain the dominant and faster-growing material of the market during the forecast period.”
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The market is segmented into LSR (liquid silicone rubber) and HCR (high-consistency rubber).
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LSR is likely to remain dominant as well as the faster-growing material of the market in the coming years owing to its advantages, such as being biocompatible, strong, flexible, resistant to high and low temperatures, suitable for high-volume production, making it cost-effective for many medical devices.
By Process Type
“Extrusion is expected to remain the dominant process, whereas injection molding is expected to experience the fastest growth during the forecast period.”
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Injection molding, extrusion, compression molding, transfer molding, and over-molding are key manufacturing processes of medical silicone-molded parts.
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Among these process types, extrusion is expected to maintain its market dominance during the forecast period.
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The extrusion process is efficient for high-volume manufacturing and can produce a wide range of shapes and profiles, reduce waste, hence, cost-effective for large-scale production, and supports custom-designed products.
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Silicone tubing is predominantly manufactured with an extrusion process which makes extrusion a dominant process in the market.
Regional Analysis
“North America is expected to remain the largest market for medical silicone molding during the forecast period.”
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In terms of region, the market is segmented into North America, Europe, Asia-Pacific, and Rest of the World.
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North America is anticipated to continue to hold the top spot in the medical silicone molding market during the forecast period owing to the presence of leading medical device manufacturers, advanced healthcare infrastructure, significant investment in healthcare services, and advancement in manufacturing technologies.
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Asia-Pacific is anticipated to grow at the fastest rate in the medical silicone molding market during the forecast period. A rapidly aging population, rising healthcare costs, an expanding healthcare infrastructure, and improvements in medical technology are the main factors driving its expansion.
Key Players
The market is highly fragmented with the presence of a large number of players across the region. Most of the major players compete in some of the governing factors including price, service offerings, regional presence, etc.
The following are the key players in the medical silicone molding market (based on dominance).
Note: The above list does not necessarily include all the top players in the market.
Are you the leading player in this market? We would love to include your name. Write to us at sales@stratviewresearch.com
Some notable insights about the companies are:
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Saint-Gobain has more than 45 years of experience in silicone molding, having capabilities including injection molding, over-molding, two-shot molding, micro molding, and FreeWave™ silicone laser processing.
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SIMTEC Silicone Parts, LLC, is one of the key players exclusively focused on the production of customized injection molded liquid silicone rubber (LSR) parts.
Report Features
This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
What Deliverables Will You Get in this Report?
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Key questions this report answers
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Relevant contents in the report
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How big is the sales opportunity?
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In-depth analysis of the Medical Silicone Molding Market
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How lucrative is the future?
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The market forecast and trend data and emerging trends
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Which regions offer the best sales opportunities?
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Global, regional, and country-level historical data and forecasts
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Which are the most attractive market segments?
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Market Segment Analysis and Forecast
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Who are the top players and their market positioning?
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Competitive landscape analysis, Market share analysis
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How complex is the business environment?
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Porter’s five forces analysis, PEST analysis, Life cycle analysis
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What are the factors affecting the market?
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Drivers & challenges
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Will I get the information on my specific requirements?
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10% free customization
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Research Methodology
This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s medical silicone molding market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
We conducted more than 10 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
- Detailed profiling of additional market players (up to three players)
- SWOT analysis of key players (up to three players)
Competitive Benchmarking
- Benchmarking of key players on the following parameters: Service portfolio, geographical reach, regional presence, and strategic alliances
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