• Blog
  • Medical Seals Market Report

    Medical Seals Market Report

    Medical Seals Market Report
    Report code - SRHL140 Published On : Jun,2022 No. of Pages: 130
    Get Free Sample |
    Medical Seals Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opport See more...

    Market Insights

    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 potentials.

    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. On account of these drivers, 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 in 2027.

    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.

    “Seals are the guardians or gatekeepers of a medical device, ensuring reliable, consistent performance in the most critical situations imaginable,”

    Steve Twork, Global Market Manager, Foothill Ranch (USA)

    Source: Components

    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.

    Medical Seals Market – Snapshot

    Growth (2022-2027)

    6.0% for the next five years

    Major Application Type

    Analytical Instrument

    Major Material Type

    Elastomeric seals

    Major Product Type

    O-rings

    Region with the highest demand

    North America

    Key Players

    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.

     

    Wish to get a free Sample?

    Segment Analysis

    Based on the application type, 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.

    Based on the material type, 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.

    Based on the product type, 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.

    Based on the end-user type, 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.

    Based on the certification type, 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.

    In terms of regions, 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.  

    Key Players

    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.

    • Trelleborg AB
    • Parker-Hannfin Corporation
    • Saint-Gobain S.A
    • Greene Tweed & Co.
    • Bal Seal Engineering, Inc.
    • IDEX Corporation
    • Technetics Group
    • Apple Rubber Products, Inc.
    • Ceetak Ltd.
    • Techno AD Ltd.

    Research Methodology

    This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s medical seals market realities and future market possibilities for the forecast period of 2022 to 2027. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the 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 20 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

    Report Features

    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 the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis.
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
    • Market trend and forecast analysis.
    • Market segment trend and forecast.
    • Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
    • Attractive market segments and associated growth opportunities.
    • Emerging trends.
    • Strategic growth opportunities for the existing and new players.
    • Key success factors.

    The medical seals market is segmented into the following categories. 

    Medical Seals Market, by Application Type

    • Analytical Instruments (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
    • Medical Devices (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
    • Surgical Tools (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

    Medical Seals Market, by Product Type

    • O-rings (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
    • Gaskets (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
    • Lip Seals (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

    Medical Seals Market, by Material Type

    • Elastomeric Seals (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
    • Thermoplastic Seals (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
    • Metallic Seals (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

    Medical Seals Market, by Motion Type

    • Static Seals (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
    • Linear Seals (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
    • Rotary Seals (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

    Medical Seals Market, by End-User Type

    • Hospitals (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
    • Private Clinics (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
    • Research Laboratories (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

    Medical Seals Market, by Certification Type

    • USP Class VI (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
    • FDA or ISO 13485 (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

    Medical Seals Market, by Region

    • North America (Country Analysis: USA, Canada, and Mexico)
    • Europe (Country Analysis: Germany, France, the UK, Russia, and Rest of Europe)
    • Asia-Pacific (Country Analysis: India, China, Japan, and Rest of Asia-Pacific)
    • Rest of the World (Country Analysis: Brazil, Saudi Arabia and Others)

    Report 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: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@Stratviewresearch.com.

    Frequently Asked Questions (FAQs)

    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.

    •   
    ×