The North American Medical Grade Silicone market is anticipated to grow significantly at a CAGR of 5.9% over the forecast period. The US and Canada are the key economies that contribute to the growth of the North American Medical Grade Silicone market over the forecast period. The key aspect that drives the growth of the North American Medical Grade Silicone market includes the rising prevalence of chronic cardiovascular diseases across the North American region. The North American market has witnessed potential growth owing to the rising prevalence of CVDs. According to the Heart & Stroke Foundation in Canada, 1.6 million fatalities occur every year due to stroke and at least 1.3 million Canadians live with heart disease.
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According to the Center for Medicare and Medicaid Services, in 2018, the US national healthcare expenditure was around $3.6 trillion showing a 4.4% increase in healthcare expenditure up from 3.9% in 2017. It is further expected to reach $6.0 trillion by 2027. The US has the highest healthcare spending across the globe. Hence, this is also likely to contribute to the growth of the market. Further, the presence of the key players also supports the growth of the North American medical grade silicone market over the forecast period.
Market Coverage
- Market number available for – 2020-2027
- Base year- 2020
- Forecast period- 2021-2027
- Segment Covered- By Form and Application
- Region Covered- North America
- Competitive Landscape- 3M Co., DOW Corning Corp., Henkel AG & Co. KGaA, Royal DSM NV, Momentive Performance Materials Inc., Saint-Gobain Performance Plastics, and Wacker Chemie AG among others
Key questions addressed by the report
- What is the market growth rate?
- Which segment dominates the market in base year?
- Which segment will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
North American Medical Grade Silicone Market – Segmentation
By Form
- Gels
- Medical Adhesives
- Medical Coatings
- Elastomers
By Application
- Medical Devices
- Medical Tapes
- Oral Care
- Prosthetics & Orthopedic
- Contact Lenses
- Others
A full report of North American Medical Grade Silicone Market is available at: https://www.omrglobal.com/industry-reports/north-american-medical-grade-silicone-market
North American Medical Grade Silicone Market– Segment by Region
North America
- United States
- Canada
Company Profiles
- 3M Co.
- Bluestar Silicones (Elkem Group)
- DOW Corning Corp.
- Finesse Medical Ltd.
- Henkel AG & Co. KGaA
- Momentive Performance Materials Inc.
- Primasil Silicones Ltd.
- Royal DSM NV
- Saint-Gobain Performance Plastics
- Specialty Silicone Fabricators, Inc.
- Stockwell Elastomeric Inc.
- Vesta Inc.
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