Medical Foam Market Analysis & Forecast | 2023-2028

Market Insights

Medical Foam Market is expected to grow from USD 31.14 billion in 2022 to USD 44.24 billion by 2028 at a healthy CAGR of 6.02% during the forecast period of 2023-2028.

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What is medical foam?

Medical grade foams are quite different than any other commodity foams in a manner that they are specially graded biocompatible, non-toxic, low particulate, and sterilized, formulated for various challenging applications in the medical industry. They are needed to fulfill certain criteria and standards defined by the industry: ISO 10993 protocol, raw material formulation registered with the FDA, 510K Submissions, USP Classification, etc.

These medical-grade foams prove to be very crucial for the medical industry as they are resistant to contaminates and enable efficient cleansing of rooms for anti-bacterial applications, in turn, reducing the risk of disease and spread of germs which is quite common in hospitals.

Technological advancements in the healthcare industry, the shift from traditional to advanced wound care systems, and the increasing number of surgical procedures, globally, are some key factors driving the demand for medical foams.

Market Drivers

The medical foam market is driven by several dynamics that contribute to its growth. Below given are some key drivers of the medical foam market:

• Rising geriatric population – According to WHO, the global population aged 60 years and above will cross the count of 2 billion by 2050. The global population is aging, and aging requires comfort, safety, and elderly care. Medical foams are used in a wide range of applications including mattresses, seatings, wound care, etc. Hence, with the growing geriatric population, the need for medical foam will increase in the coming years.
• Increase in global healthcare expenditure – There is a growing demand for healthcare services, that leads to an increase in global healthcare expenditure. Reports suggest that global healthcare spending will cross 8.3 trillion by 2040. Growth in healthcare expenditure drives demand for medical foams.
• Rising awareness on health and wellness: Medical foams are used in a wide range of products that help consumers improve their health. Mattresses, pillows, and seatings are a few of those products and a survey by the American Sleep Association finds that ~70% of Americans are concerned about the quality of their sleep. This growing awareness and focus on health is expected to drive the demand for medical foam.

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Key Players

Some of the major players in the market are-

• Armacell International Holding GmbH
• BASF SE
• Freudenberg Group
• FXI Holdings, Inc.
• Huntsman Corporation
• INOAC Corporation
• Mölnlycke Health Care
• Recticel NV
• Rogers Corporation
• SEKISUI CHEMICAL CO., LTD.
• The Dow Chemical Company
• Trelleborg AB
• UFP Technologies, Inc

Segments Analysis

By Material Type

The market is segmented into polymers, latex, and metals.

The polymers segment is expected to maintain its vanguard in the market, owing to its superior properties such as low weight, heat preservation, sound absorption, biocompatibility, and excellent cushioning, as compared to its competing materials.

There has been a trend towards increasing adoption of polymers across various industries for an unimaginable range of applications, owing to the easy availability of raw materials and ease of manufacturing, which ultimately leads to cost savings.

By Form Type

The medical foam market is segmented into flexible foam, rigid foam, and spray foam.

The flexible foam segment held the largest share of >50% of the market in 2022 and is expected to remain dominant during the forecast period. The rising demand for medical foam in applications such as bedding & cushioning, packaging of medical devices, and foam dressing in wound care, among others, coupled with its favorable properties such as softness, moisture resistance, high impact, and mechanical resistance is propelling the segment’s market.

By Application Type

The medical foam market is segmented into bedding & cushioning, medical packaging, medical devices & components, prosthetics & wound care, and others.

The bedding & cushioning segment held the largest share of > 35% of the market during the forecast period. With a growing population, increased life expectancy, and hence, an aging population, there have been several efforts to ensure patient comfort.

Surgical beds, cushions, comfort/positioning pads, wheelchair seats, and orthopedic support are all examples of flexible medical foam applications. They are the preferred choice of material for bedding and upholstery as they offer high resilience.

By Region

North America is estimated to be the largest market with a share of >30% in 2022. This growth can be attributed to rapid demographic changes, increasing healthcare expenditure, excellent industrial development, and improved economic conditions.

Asia-Pacific is expected to offer substantial growth during the forecast period, with China, Japan, and India being the major countries with lucrative growth opportunities.

Europe is also expected to offer substantial growth opportunities during the forecast period.

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The market is segmented into the following categories. 

By Form Type

• Flexible Foam (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Rigid Foam (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Spray Foam (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

By Material Type

• Polymers
  • (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
  • (Material Type Analysis: Polyurethane, Polystyrene, Polyolefin, and Others)
• Latex
  • (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
  • (Material Type Analysis: Synthetic, Blended, and Natural)
• Metals
  • (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
  • (Material Type Analysis: Titanium, Copper, and Others)

By Application Type

• Bedding & Cushioning (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Medical Packaging (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Medical Devices & Components (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Prosthetics & Wound Care (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

By Region

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

Research Methodology

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 15 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 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.

The following are the key features of the report:

• Overview, industry life cycle analysis, supply chain analysis
• Environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Trend and forecast analysis.
• Segment trend and forecast.
• Competitive landscape and dynamics: Market share, product portfolio, Technology launches, etc.
• Attractive segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Target Audience

The following is a list of the customers that the market aims to convert the most:

• Manufacturers
• Suppliers
• Distributors
• Organizations
• Government bodies

Customization Option

Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 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 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.