Medical Foam Market Size Worth $37.9 Billion By 2027 | CAGR: 7.5%: Grand View Research, Inc.

August 12 07:49 2020
Medical Foam Market Size Worth $37.9 Billion By 2027 | CAGR: 7.5%: Grand View Research, Inc.

Grand View Research, Inc. – Market Research And Consulting.
The global medical foam market size was valued at USD 21.4 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 7.5% from 2020 to 2027.

The global medical foam market size is anticipated to reach USD 37.9 billion by 2027, according to a report by Grand View Research, Inc., registering a CAGR of 7.5% over the forecast period. The rising product demand from the bedding & cushioning, medical devices, packaging, and a few other application segments are expected to propel market growth. Moreover, the need for better healthcare facilities coupled with a rising number of hospitals has boosted the product demand in medical devices application, which is anticipated to drive the market over the forecast period.

U.S. medical foam market size, by application, 2016 - 2027 (USD Billion)

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Medical foams are lightweight and have high flexibility, absorbency, and durability. Moreover, they offer excellent stain and fungal resistance and impact absorption. Due to these characteristics, medical foams are widely used in the healthcare sector in medical packaging, prosthetic padding, bedding and cushioning, wound dressing, medical aids, etc., which is also projected to drive the market.

Asia Pacific is expected to be the fastest-growing regional market owing to the increasing demand for high-quality medical devices and components from hospitals in major economies, such as China, India, and Singapore. Furthermore, the rising expenditure of various governments on public & private health systems and the growing geriatric population are fueling the demand for improved healthcare services and infrastructure, which, in turn, is expected to propel the product demand in the coming years.

Key suggestions from the report:

  • The global market was valued at USD 21.4 billion in 2019 and is estimated to register a CAGR of 7.5% from 2020 to 2027
  • The market is expected to witness significant growth over the forecast period owing to rising product demand from medical packaging and medical device & components applications
  • North America is projected to be the largest regional market over the forecast period owing to the growing product demand from various application segments
  • Asia Pacific is projected to register the fastest growth rate from 2020 to 2027 owing to rising healthcare investments and growing product demand from medical packaging applications, in countries, such as India, China, and Japan

Global medical foam market share, by product, 2019 (%)

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Grand View Research has segmented the global medical foam market on the basis of foam type, product, application, and region:

Medical Foam Type Outlook (Volume, Kilotons; Revenue, USD Million, 2016 – 2027)

  • Flexible
  • Rigid
  • Spray

Medical Foam Product Outlook (Volume, Kilotons; Revenue, USD Million, 2016 – 2027)

  • Polyurethane (PU)
  • Polystyrene (PS)
  • Polyolefin
  • Polyvinyl Chloride (PVC)
  • Others

Medical Foam Application Outlook (Volume, Kilotons; Revenue, USD Million, 2016 – 2027)

  • Bedding & Cushioning
  • Medical Packaging
  • Medical Devices & Components
  • Prosthetics & Wound Care
  • Others

Medical Foam Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2016 – 2027)

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • The U.K.
    • France
    • Italy
  • Asia Pacific
    • China
    • India
    • Japan
  • Central and South America
    • Brazil
    • Argentina
  • Middle East and Africa
    • Saudi Arabia

List of Key Players of Medical Foam Market

  • 3M
  • General Plastics Manufacturing Company, Inc.
  • Huntsman International LLC.
  • Sekisui Chemical Co., Ltd.
  • UFP Technologies, Inc.
  • Zotefoams plc
  • Avery Dennison Corporation
  • Rogers Corporation
  • Foamtec Medical

Find more research reports on Plastics, Polymers & Resins Industry, by Grand View Research:

Extruded Polypropylene Foam Market – The global extruded polypropylene foam market size was estimated at USD 582.6 million in 2016.

Structural Foam Market – The global structural foam market size was estimated at USD 25.41 billion in 2016.

About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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