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Medical Seals Market Analysis | 2022-2027
Medical Seals Market Size, Share, Trends, Dynamics, Forecast, & Growth Analysis: 2022-2027
The Medical Seals Market is likely to grow at a propitious CAGR of 6.0% in the long run to reach US$ 2.0 Billion by 2027.
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Medical seals are applied between mating surfaces of medical equipment to prevent leakage and ingress of external agents while also providing insulation, temperature and pressure retention in these equipment. The selection of materials, designs, and technologies remains critical in the production of these seals because they must be biologically compatible with the environment and withstand reacting chemicals, high temperatures, and pressure. These seals are mainly made up of different types of elastomers, thermoplastics, and metals among which elastomers are majorly used due to their suitability in medical application. Major MedTech companies are expanding their presence in Asia-Pacific offering huge growth potential.
The medical seals industry experienced a setback due to the outbreak of the pandemic. The devastation caused by the pandemic forced many patients to postpone their elective procedures. Concurrently, hospitals' infrastructure appeared to collapse in terms of addressing chronic disorders. The supply of raw materials for the production of seals was also affected as a result of the ban and restricted movement caused by the global lockdowns.
Medical seals, a sizeable market, could not escape from such trends and witnessed a sluggish growth of 1.9% during the year 2020, which was around 8% lower than the growth rate of the previous year. The industry is recovering from the negative impact of the pandemic and it has regained its momentum from the year 2021, with the increasing spending towards healthcare. However, high cost of thermoplastic materials and increasing complexity in manufacturing of seals may cause a barrier in growth of the market. Furthermore, growing innovations in medical equipment, increasing funds for medical R&Ds, aging population, the growing global medical devices market coupled with increasing concern toward individual health, and growing demand for wearable medical devices is likely to give an additional impetus to the demand for seals in the near future.
The global business environment is experiencing rapid change, owing to the changing dynamics in economic, social, political, and technological arenas. This demands the players in the medical seals market to quickly adapt to the changing business environment and build market strategies to improve growth and mitigate risks.
Medical OEMs' stringent regulations/certifications on medical processing seals manufacturers are compelling them to incorporate cleanroom production to prevent contamination, with the goal of improving the performance and durability of seals. The regulation not only enforces cleanliness, but it also forces medical seals manufacturers to develop a reliable, cost-effective, high-performance sealing solution capable of withstanding high operating pressure and temperature cycles.
Major players are aligning their portfolios by developing innovative products to address the existing and future market requirements. For an instance, Bal Seal Engineering, Inc. launched its spring energized-PTFE “C-ring” seal which minimizes the possibility of seal failure due to friction wear and thermal cycling.
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Segmentations |
List of Sub-Segments |
Segments with High Growth Opportunity |
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Application Type Analysis |
Analytical Instruments, Surgical Tools, and Medical Devices |
Analytical instrument is expected to remain the biggest demand generator for seals during the forecast period. |
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Material Type Analysis |
Elastomeric Seals, Thermoplastic Seals, and Metal Seals |
Elastomeric seals are the clear winners in the medical seals market during the forecast period. |
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Product Type Analysis |
O-Rings, Gaskets, Lip Seals, and Others |
O-rings are expected to remain the largest and the fastest-growing segment of the market during the forecast period. |
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End-User Type Analysis |
Hospitals, Private Clinics, and Research Laboratories |
Private clinic is expected to remain the fastest-growing end-user type during the forecast period. |
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Certification Type Analysis |
USP Class VI, FDA or ISO 13485, and Others |
FDA or ISO 13485 segment is expected to remain the largest segment of the market during the forecast period. |
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Regional Analysis |
North America, Europe, Asia-Pacific, and Rest of the World |
North America is estimated to remain the dominant market for medical seals during the forecast period. |
"Analytical instrument is expected to remain the biggest demand generator for seals during the forecast period"
The medical seals market is segmented as analytical instruments, medical devices, and surgical tools. Among these application segments, analytical instrument is expected to remain the biggest demand generator for seals during the forecast period. Increasing research and development, establishment of new research laboratories, growing diagnostic facilities, among other factors are expected to propel the market with an increased demand for seals in the analytical instruments segment. High demand for tight tolerance and high leakage-resistant seals in these instruments is also likely to boost healthy growth in the market.
"Elastomeric seals are the clear winners in the medical seals market"
The medical seals market is segmented as elastomeric seals, thermoplastic seals, and metal seals. Elastomeric seals are the clear winners in the medical seals market. The life science industry is moving towards sustainable growth with the greater adoption of advanced materials. Thermoplastic materials offer higher mechanical properties at a relatively low weight and have a well-proven track record in the industry. Thermoplastic seals are also extensively used in the industry, owing to their desired properties, such as high chemical resistance, low friction, and biocompatibility.
"O-rings are expected to remain the largest and the fastest-growing segment of the market during the forecast period"
The medical seals market is segmented as O-rings, gaskets, lip seals, and others. O-rings are expected to remain the largest and the fastest-growing segment of the market during the forecast period. O-rings are widely used in various important applications including respiratory equipment, drug delivery devices, pumps, fluid transfer devices, etc. O-rings are cost-effective, customizable, extremely durable and available in a variety of sizes and hardness.
"Private clinic is expected to remain the fastest-growing end-user type during the forecast period"
The market is segmented as hospitals, private clinics, and research laboratories. Private clinic is expected to remain the fastest-growing end-user type during the forecast period. Growing concerns toward individual health along with regular check-ups, increasing requirement for medical devices & analytical instruments in private clinics are expected to drive the growth of the market over the next five years.
"FDA or ISO 13485 segment is expected to remain the largest segment of the market during the forecast period"
The market is segmented as USP class VI, FDA or ISO 13485, and others. Among the certification types, the FDA or ISO 13485 segment is expected to remain the largest segment of the market during the forecast period. All organizations that manufacture or repackage medical equipment in the United States must register with the FDA. The United States is the world's largest producer of medical equipment, which contributes to the segment's dominance in the market.
"North America is estimated to remain the dominant market for medical seals during the forecast period"
North America is estimated to remain the dominant market for medical seals over the next five years, owing to the presence of a large number of medical equipment manufacturers, such as Johnson & Johnson, Abbott laboratories, Becton Dickinson, Cardinal Health Inc., and Stryker Corp. in the region. However, Asia-Pacific led by India and China is expected to offer the highest growth opportunity to the market stakeholders in the near future. This growth can be attributed to the emergence of new medical device manufacturing plants in the region along with the rising demand for seals. Key medtech are expanding their presence in the region to enhance their proximity with large number of customers. For an instance, Siemen Healthineers has opened its new manufacturing facility in India to address the demand for diagnostic equipment.
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The supply chain of this market comprises several nodes including raw material suppliers, distributors, medical seals manufacturers, medical equipment manufacturers, and end-users such as hospitals and private clinics. Some of the major medical seals manufacturers, such as Saint Gobain and Trelleborg AB are backward intergrated, producing raw materials for seals by their own.
Major companies are performing mergers & acquisitions to quickly gain the leading position and to tap growing opportunities in this rapidly expanding market. For instance; Trelleborg Sealing Solutions has recently acquired the US-based distributor of polymer seals, VB Seals Inc to strengthen its presence on the largest market for medical seals.
The following are the key players in the medical seals market.
Note: The above list does not necessarily include all the top players in the market.
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This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:
This report studies the market covering 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.
The medical seals market is segmented into the following categories-
By Application Type
By Product Type
By Material Type
By Motion Type
By End-User Type
By Certification Type
By Region
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
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The medical seals market is estimated to grow at a healthy CAGR of 6.0% over the next five years to reach a value of US$ 2.0 Billion in 2027. Growing innovations in medical equipment, increasing funds for medical R&Ds, aging population, the growing global medical devices market coupled with increasing concern toward individual health, and growing demand for wearable medical devices is likely to boost healthy growth in the market.
Trelleborg AB, Parker-Hannifin Corporation, Saint-Gobain S.A., Greene Tweed, Bal Seal Engineering, Apple Rubber, IDEX Corporation, Ceetak Ltd., Technetics Group, and Techno AD Ltd. are some of the key players in the market. Geographical expansion of the niche and fastest-growing markets, diverse product portfolio, large customer base, and a good track record are the factors assisting these players in leading the market.
North America is estimated to remain dominant in the medical seals market in the coming years on account of the presence of a large number of medical equipment manufacturers in the USA.
Asia-Pacific is estimated to grow at the fastest rate in the coming years, owing to the impressive growth of the medical devices market in the region.
Analytical instruments application segment is likely to maintain its dominance in the market in the next five years. Increasing research and development, establishment of new research laboratories, and growing diagnostic facilities are expected to drive the dominance of the segment over the forecast period.
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