Stratview Research announces the launch of a report on Global Life Science/Medical Seals Market by Application Type (Analytical Instrumentation, Surgical Tools, and Medical Devices), by Product Type (O-Rings, Gaskets, Lip Seals, and Others), by Material Type (Metals, Elastomers, Thermoplastics, and Composites), by End-User Type (Hospitals, Private Clinics, and Research Laboratories), by Certification Type (USP Class VI, FDA or ISO 13485, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2019-2024.
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s demands, maps opportunities and hurdles in the global life science/medical seals market realities and future possibilities for the forecast period of 2019 to 2025. The report segments and analyzes the market in the most detailed and comprehensive 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 formulation of growth strategies.
Medical (Life Sciences) Seals Market: Research Highlights
As per Stratview Research, the global medical/life sciences seals market is expected to grow at a healthy rate over the next five years and reach US$ 1,797.2 million in 2024. The global business environment is experiencing a rapid change, owing to changing dynamics in economic, social, political, and technological arenas. This demands the players in the life science/medical seals market to quickly adapt to the changing business environment and build market strategies to improve growth and mitigate risks.
Stringent regulations/certification and demand by the medical OEMs on life science/medical seals manufacturer are compelling the manufacturers to increasingly incorporate cleanroom production to contamination with the purpose to improve performance and durability of the seals. The regulation not only enforces cleanliness, but it also forces the seals manufacturers to develop a reliable, cost-effective, high-performance sealing solution with capabilities to withstand high operating pressure and temperature cycles.
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Based on the application type, analytical instrumentation is expected to remain the most dominant application type segment in the market over the next five years, whereas medical devices is expected to experience the highest CAGR of 6.1% during the forecast period, driven by miniaturization of medical devices and increasing usage of portable and home healthcare devices.
Based on the product type, o-rings is projected to remain the major as well as the highest growing segment in the market during the study period. Low-cost, economic production and easy to manufacture are the major growth drivers of the O-rings segment.
In terms of material type, elastomeric seals are the clear winners in the life science industry. The industry is moving towards sustainable growth with greater adoption of advanced materials. Composite materials offer higher mechanical properties at a relatively low weight and have a well-proven track record in the industry. Thermoplastic-based seals are extensively used in the industry, owing to their desired properties, such as high chemical resistance, low friction, and biocompatibility.
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As per the study, all the end-user type segments are likely to offer healthy growth opportunities over the next five years. Research laboratories is expected to remain the most dominant end-user segment of the market over the next five years, owing to requirement of large number of seals in an analytical instrument.
In terms of regions, North America is projected to remain the dominant market for life science/medical seals over the next five years, whereas Asia-Pacific is likely to provide the highest growth opportunity during the same period. The region continues to demonstrate vigorous growth as its economy outpacing the global average, driven by few APAC Markets. India and China are expected to be the fastest-growing markets over the next five years compared to Japan and Australia, whereas the USA, Japan, and Germany are likely to remain the largest markets in West, during the same period.
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 on 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:
This report studies the seals market in the global medical/life sciences industry and has segmented the market in six ways, keeping in mind the interest of all the stakeholders across the value chain. Following are the six ways in which the market is segmented:
Life Science/Medical Seals Market by Application Type:
Life Science/Medical Seals Market, By Product Type
Life Science/Medical Seals Market, By Material Type
Life Science/Medical Seals Market, By End-User Type
Life Science/Medical Seals Market, By Certification Type
Life Science/Medical Seals Market, By Region
Stratview Research has number of high value market reports in the healthcare and life sciences industry. Please refer to the following link to browse through our reports:
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