Global medical foam market is expected to grow at a significant CAGR during the forecast period. The global medical foam market is driven by growing requirement for superior-quality medical products across the globe. Moreover, governments across the world are investing more on healthcare infrastructure, which is anticipated to positively impact the growth of market during the forecast period. Also, rising old age population is further expected to bolster the growth of market over the next few years.
The global medical foam market is segmented based on foam, material, application, company, and region. Based onfoam, the market can be categorized into flexible, rigid, spray. Out of which, the flexible foam segment dominated the market in terms of largest market share during 2019 and is expected to maintain its leading position the market during the forecast period as well. This can be ascribed to fact that flexible foam is the most consumed foam type owing to the benefits it offers such as it is flexible, soft and resilient, softness, moisture resistance, high impact & mechanical properties, among others. In addition to this, its lower cost in comparison to other alternative foam, is further boosting the market growth. Moreover, extensive consumption of flexible foam in bedding & cushioning applications, foam dressing in wound care applications and packaging of medical devices, among others, is driving the market growth.
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Major players operating in the global medical foam market include The Dow Chemical Company, SEKISUI CHEMICAL CO., LTD., Huntsman Corporation, Trelleborg AB, BASF SE, Recticel NV, INOAC Corporation, UFP Technologies, Inc., FXI Holdings, Inc., Armacell International S.A., Rogers Corporation, Freudenberg Group, Molnlycke Health Care, VPC Group Inc., FoamPartner Group and others. The companies are developing advanced technologies and launching new products in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions, partnership, agreements, and new developments.
Years considered for this report:
Historical Years: 2015-2018
Base Year: 2019
Estimated Year: 2020
Forecast Period: 2021–2025
Objective of the Study:
- To analyze and estimate the market size of global medical foam market from 2015 to 2018.
- To estimate and forecast the market size of global medical foam market from 2019 to 2025 and growth rate until 2025.
- To classify and forecast global medical foam market based on foam, material, application, company and regional distribution.
- To identify dominant region or segment in the global medical foam market.
- To identify drivers and challenges for global medical foam market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global medical foam market.
- To conduct pricing analysis for global medical foam market.
- To identify and analyze the profile of leading players operating in global medical foam market.
- To identify key sustainable strategies adopted by market players in global medical foam market.
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TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the globe. Subsequently, TechSci Research conducte primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the manufacturers and presence of all major players across the globe.
TechSci Research calculated the market size of global medical foam market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
- Medical foam manufacturers, suppliers, distributors and other stakeholders
- Government bodies such as regulating authorities and policy makers
- Organizations, forums and alliances related to medical foam
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers, partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
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Global medical foam market can be segmented based on foam, material, application, company, and region. Considering the material, the market is fragmented into polymers, latex, and metals. The polymers segment dominated the global medical foam market in terms of largest market share until 2019 and is further anticipated to maintain its dominance during the forecast period as well. This is because of its abundant availability, low cost, and ease of manufacturing. Additionally, foamed polymers offer certain benefits such as low weight, sound absorption, heat preservation, excellent cushioning, and biocompatibility, which is estimated to boost the growth of segment over the coming years. In terms of application, the market is fragmented into bedding & cushioning, medical packaging, medical devices & components, prosthetics & wound care and others. Out of which, the medical packaging application segment dominated the market until 2019 and is further is projected to grow at a high pace during the forecast period as the packaging of medical devices, tools, and equipment is important in order to maintain the integrity and hygiene of the product.
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