Global medical foam market analysis reveals that the market was valued at US$ 27 Bn in 2020, and is projected to top US$ 38 Bn by 2031, expanding at a healthy CAGR of 6%.
Demand for polyurethane foam is estimated to increase at a CAGR of 8%, reaching US$ 10 Bn by the end of 2031, accounting for 50% of the global market share.
Key Points Covered in Medical Foam Industry Survey:
- Market Estimates and Forecasts (2016-2031)
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise and Region-wise Analysis
- Competition Mapping and Benchmarking
- Market Share Analysis
- COVID-19 Impact on Medical Foam Sales and How to Navigate
- Recommendation on Key Winning Strategies
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Demand Analysis of Medical Foam from 2016 to 2020 VS Sales Forecasts for 2021 to 2031
As per Fact.MR – a market research and competitive intelligence provider, the global medical foam market was estimated at US$ 27 Bn in 2020, and is set to reach a valuation of over US$ 38 Bn by 2031.
This growth is attributed to various factors such as rising geriatric population, increase in global health expenditure, rapid expansion of the medical device sector, and increasing consumer focus on health & periodic cleanliness.
Medical grade foams are mainly used in the healthcare industry for various applications such as bedding and cushioning, hydrophilic dressing, and medical braces. Moreover, usage of medical foams for the packaging of various medical devices and pharmaceutical products is further nudging the revenue of this industry.
Medical grade foams are formulated to act as a barrier against bacteria to reduce the risk of germ and disease spread. These excellent antibacterial properties make them highly suitable for use in sterile environments. Medical foams are also used in wound care, medical packaging, and prosthetics, owing to their excellent impact absorption and lightweight properties.
With increasing cases of epidemic outbreaks such as COVID- 19 and H1N1 Swine flu in recent times, demand for various medical devices, hospital bedding, and other medical equipment has surged. With the ongoing pandemic, demand for medical foam is expected to further elevate.
What are the Key Opportunities on Offer for Medical Foam Manufactures?
There is growing demand for high-quality foam for numerous applications in the healthcare industry. These include wound dressings, sealing of medical devices and LCD screens, medical device cushioning, prosthetic padding, and custom orthotics. This is creating new growth opportunities for medical foam manufactures.
Medical foams possess characteristics that include softness, flexibility, absorbency, and durability, making them irreplaceable in medical practices. A recent development in manufacturing technology has resulted in the creation of medical foams that offer fungal and stain resistance.
Medical foams are also used for the packaging of specialty products and medical devices, as they provide security against harsh climatic conditions. This ensures product safety during transportation. It is on account of these multi-speciality applications of medical foam that the growth prospects for manufactures are expected to further ascent over the coming years.
Furthermore, expanding pharmaceuticals industry in both, developed and developing economies, will further propel revenue opportunities for the suppliers of packaging medical foams.
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What are the Challenges Faced by Medical Foam Suppliers?
Fluctuations in prices of raw materials are acting as a major restraining factor for medical foam suppliers. Prices of raw materials such as benzene are directly dependant on crude oil prices, and major fluctuation of prices can result in uncertain losses.
Likewise, polystyrene foam cost is dependent on the prices of styrene and other raw materials. Variations in the prices of any of these raw materials will impact the overall profitability of manufacturers.
Although with the onset of the COVID-19 pandemic, requirement for medical foam from hospitals kept on rising, frequent lockdowns and restrictions hampered the operations of manufacturing industries. Also, interruptions in transportation of raw materials impacted businesses, causing major losses to manufactures.
But with the manufacturing sector resuming operations, the negative impacts of the pandemic are soon expected to be overcome.
Which Region Offers the Largest Opportunity for Medical Foam Providers?
Asia Pacific accounts for more than 30% of global medical foam revenue share, and is projected to expand at a CAGR of 7% during the forecast period.
Rise in number of hospitals, growing medical tourism, and rising elderly population are some of the major factors driving demand for medical foam in this region.
North America accounts for around 32% of the global market share. With rising per capita health expenditure in the U.S., demand for medical devices is expected to increase significantly over the coming years. This is likely to further boost the sales of medical foams in the region.
Europe, owing to increased investments in R&D in the medical industry, is set to witness exponential growth in demand for medical foam over the coming years. Germany is expected to hold the largest market share in the region, and is expected to expand at a CAGR of around 5% over the forecast period.
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Why is the U.S. Driving Most Demand for Medical Foam in North America?
Medical foam revenue share in the U.S. was estimated at US$ 5 Bn in 2020. With the presence of an established medical devices manufacturing industry, the U.S. is one of the most lucrative markets for the sales of medical foam.
Other factors such as increased spending on healthcare, rising per capita income of citizens, growing elderly population, and well-established pharmaceutical industry in the country are contributing to the augmented demand for medical foam in the country.
What Makes China the Epicentre for Medical Foam Sales?
Revenue of medical foam in China is forecasted to reach over US$ 6 Bn by 2031, expanding at an impressive CAGR of around 11% over the next ten years.
With the country’s fast-developing healthcare industry, China is emerging as the epicentre for the sales of medical foam. Also, with its growing pharmaceutical and medical devices industry, demand for medical foam is set to escalate further.
Why Does Flexible Medical Foam Hold the Largest Market Share?
Revenue from flexible medical foam is anticipated to expand at a CAGR of 7% over the next ten years.
Flexible medical foam is widely used since it is soft, flexible, and resilient. High demand can be attributable to its lower cost compared to rigid and spray foams.
Additionally, substantial consumption of flexible foam in bedding and cushioning applications, packaging of medical devices, and foam dressing of wounds has been driving market growth of this segment.
What Makes Polymer Foams Highly Demanded in the Healthcare Industry?
Polymer foams are the largest revenue-generating type of medical foam. Revenue is anticipated to expand at a CAGR of around 7% over the forecast period.
Demand for polymer foams can be attributable to abundant availability, ease of manufacturing, and low cost. Foamed polymers possess properties such as low weight, heat preservation, sound absorption, biocompatibility, and excellent cushioning, making them suitable for numerous applications in the healthcare industry.
The three major types of polymer foams used in medical applications include polyurethane foam, polystyrene foam, and polyolefin foam.
Global market share of polyurethane foam accounts for close to 50%, and is estimated to expand at a CAGR of 8% over the forecast period. Revenue from polystyrene foam is estimated to sure at a CAGR of 7%, and that of polyolefin foam at a CAGR of 6% over the next ten years.
Why is Demand for Medical Foam High in Bedding and Cushioning?
Demand for medical foam in bedding and cushioning continues to be the highest revenue generating segment, accounting for 36% of the global revenue share, and is anticipated to expand at a CAGR of around 6% over the forecast period.
Rising requirement of hospital beds, seat cushioning, and bed accessories such as pillow support, head, neck, and shoulder support, are expected to be major factors driving demand for medical foam.
Furthermore, rise in healthcare development, establishment of new hospital facilities, and the ongoing coronavirus pandemic have further increased demand for bedding & cushioning. Hence, demand for medical foam for use in hospital bedding and cushioning is anticipated to remain high over the coming years.
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The medical foam market is characterized by the presence of various small- and medium-scale companies catering to global and local demands. Major market players are focusing on expansion strategies such as partnerships, new product development, agreements, technical collaborations, and capacity expansions.
Countries such as India, the U.S., and China, where demand for medical devices, medical packaging, and hospital beds is growing significantly, owing to the current pandemic, are expected to provide new expansion opportunities for market players over the coming years.
Medical Foam Market Report Scope
Historical Data Available for
|US$ Mn for Value & ‘000 Units for Volume|
Key Regions Covered
Key Countries Covered
Key Market Segments Covered
Key Companies Profiled
Available upon Request
Key Market Segments Covered in Medical Foam Industry Analysis
On the Basis of Product:
- Flexible Medical Foam
- Rigid Medical Foam
- Spray Medical Foam
On the Basis of Material:
- Polyurethane Medical Foam
- Polystyrene Medical Foam
- Polyolefin Medical Foam
- Polyvinyl Chloride Medical Foam
On the Basis of Application:
- Medical Foam Used in Bedding & Cushioning
- Medical Foam Used in Medical Packaging
- Medical Foam Used in Medical Devices & Components
- Medical Foam Used in Prosthetics & Wound Care
Medical Foam Market- Scope of Report
A recent study by Fact.MR on the medical foam market offers a 10-year forecast for 2021 to 2031. The study analyses crucial trends that are currently determining the growth of the market. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging players associated with offering medical foam.
The study also provides the dynamics that are responsible for influencing the future status of the market over the forecast period. A detailed assessment of value chain analysis, business execution, cost structure analysis, and supply chain analysis across regional markets has been covered in the report.
A list of prominent companies providing medical foam, along with their product portfolios, key strategies, and SWOT analysis, enhances the reliability of this comprehensive research study.
The study offers comprehensive analysis on diverse features, including revenue growth, and revenue generation across the globe.
A comprehensive estimate on the market has been provided through an optimistic scenario as well as a conservative scenario, taking into account the revenue of the medical foam market during the forecast period.
Key Questions Answered in Report
- Which are the most lucrative markets for medical foam?
- Which factors will impact the growth of the medical foam market?
- How will changing trends impact the strategies of market players?
- How can market players capture the low-hanging opportunities across regions?
- Which companies are leading the medical foam industry?
- What are the winning strategies of stakeholders in the market?
Market Size Evaluation
The market has been analysed for each market segment in terms of volume (`000units), and value (US$ Mn).
Market estimates at global and regional levels for medical foam are available in terms of “US$ Mn” for value and in ‘’’000 units for volume. A Y-o-Y growth contrast on prominent market segments, along with market attractiveness evaluation, has been incorporated in the report. Furthermore, absolute dollar opportunity analysis of all the segments adds prominence to the report. Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a manufacturer/distributor can look to achieve, along with identifying potential resources, considering the revenue perspective in the global medical foam market.
Inspected Assessment on Regional Segments
Key sections have been elaborated in the report, which have helped deliver projections on regional markets. These chapters include regional macros (political, economic, and business environment outlook), which are expected to have a momentous influence on the growth of the market during the forecast period.
Country-specific valuation on revenue for medical foam has been offered for each regional market, along with market scope estimates and forecasts, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.
Detailed breakup in terms of value for key countries has also been included in the report.
The report sheds light on leading manufacturers of medical foam, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in offering medical foam has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits report readers to take pre-emptive steps in advancing their businesses.
Company profiles have been included in the report, which include essentials such as product portfolios and key strategies, along with all-inclusive SWOT analysis on each player. Company presence is mapped and presented through a matrix for all the prominent players, thus providing readers with actionable insights, which helps in thoughtfully presenting the market status, and predicting the competition level in the medical foam market.
- FAQs -
The global medical foam market was valued at US$ 27 Bn in 2020, and is projected to reach a valuation of over US$ 38 Bn by 2031.
Key factors driving demand for medical foam are application in packaging of medical devices, bedding & cushioning, and foam dressing for wound care.
3M, General Plastics Manufacturing Company, Sekisui Chemical Co., Ltd., UFP Technologies, Zotefoams plc, and Avery Dennison Corporation are a few of the key suppliers of medical foam across the world.
Asia Pacific, with more than 30% of global market share, will largely contribute to the growth of medical foam revenue.
Bedding and cushioning continue to be the highest revenue generating application of medical foam, accounting for 36% of global revenue.
Polyurethane medical foam accounts for around 50% of the global market share, and is estimated to expand at an impressive CAGR of 8% over 2021-2031.
Medical foam sales in China are forecasted to reach over US$ 6 Bn by 2031, increasing at a CAGR of around 11% over the next ten years.
North America accounts for around 32% of the global market share for medical foam, with revenue in the U.S. reaching US$ 5 Bn in 2020.
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Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
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