Global Medical Foam Market Forecast Report 2023-2028 Growth of Implantable Devices Sector is to Drive the Market

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Jan 04, 2024, 13:00 ET

DUBLIN, Jan. 4, 2024 /PRNewswire/ -- The "Global Medical Foam Market by Form (Flexible, Rigid, Spray), Material (Polymers, Latex, Metals), Application (Bedding & Cushioning, Medical Packaging, Medical Devices & Components, Prosthetics & Wound Care), and Region - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.

The global medical foam market will rise from USD 33 billion in 2023 to USD 43.3 billion by 2028 at a CAGR of 5.6% from 2023 to 2028. This growth can be attributed to the increasing aging population, the shift from traditional wound care products, the rise in global health care products, and the growth of the implantable device sector.

The bedding & cushioning segment is expected to hold the largest share of the medical foam market during the forecast period

The bedding & cushioning segment accounted for the largest share of the medical foam industry in 2022. Medical foam offers design flexibility, strength, and durability and is used in the construction of bedding & cushioning products such as mattresses, orthopedic supports, and pads. Medical foams have compression-relieving capabilities, which adapt to the patient's body shape, thus providing comfort to patients. The growth of this segment can be attributed to the increase in the aging population and the rising construction of hospitals and medical centers across the globe.

Flexible foam is expected to be the largest segment of the medical foam market during the forecast period

The flexible foam segment is expected to be the largest in volume, owing to properties such as softness, moisture resistance, high impact & mechanical properties. Flexible foams regain their original shape even after being deformed. This property makes them suitable for use in bedding & cushioning products for patients to provide them with maximum comfort and support. Moreover, due to the ability to absorb shock, flexible foams are used in the packaging of medical devices and prosthetics.

Polymer segment is expected to lead the medical foam market during the forecast period

Based on material, the polymer segment is estimated to account for the largest share of the medical foam market in 2022 in terms of volume. The major types of polymer foam used in medical applications include polyurethane foam, polystyrene foam, polyolefin foam, and others. The growth of the polymer segment is due to the abundant availability, ease of manufacturing, and low cost compared to other materials. Foamed polymers possess properties such as low weight, heat preservation, sound absorption, biocompatibility, and excellent cushioning.

Asia Pacific is projected to grow at the highest CAGR of the medical foam market during the forecast period

The Asia Pacific medical foam industry has been studied for China, Japan, India, Indonesia, and the Rest of Asia Pacific. The Asia Pacific region presents an attractive market for medical foam due to shifting demographics and the rise in healthcare facilities and spending. Key industry leaders like Sekisui Chemical Co., Ltd. and INOAC Corporation have established manufacturing plants, distribution networks, and sales offices in the Asia Pacific area, ensuring a steady supply of medical foam.

These companies are also acquiring smaller firms and fabricators of medical foam in the region, contributing to market growth. Additionally, medical foam manufacturers from North America and Europe are expanding their presence in the Asia Pacific, fostering knowledge exchange between developed and emerging nations through active participation in various forums.

Market Dynamics

Drivers

Increase in Aging Population
Rise in Global Healthcare Expenditure
Growth of Implantable Devices Sector
Shift from Traditional to Advanced Wound Care Products

Restraints

Fluctuations in Raw Material Prices
Limited Biocompatibility and Compatibility Concerns

Opportunities

Rise in Demand for Sustainable Packaging Solutions in Healthcare
Emergence of New Foam Materials

Challenges

Stringent Rules & Regulations
Environmental and Sustainability Challenges

The report provides insights on the following:

Analysis of critical drivers (Rise in global healthcare expenditure), restraints (Fluctuations in raw material prices), opportunities (Rise in demand for sustainable packaging solutions in healthcare), and challenges (Stringent rules & regulations) influencing the growth of the medical foam market.
Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities in the medical foam market.
Market Development: Comprehensive information about lucrative markets - the report analyses the medical foam market across varied regions.
Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the medical foam market.
Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like The Dow Chemical Company, Sekisui Chemical, Huntsman, Trelleborg, BASF, Recticel, INOAC, UFP Technologies, FXI Holdings, Armacell, Rogers Corporation, Freudenberg Group, Molnlycke Health Care and among others in the medical foam market.

Key Topics Covered:

Executive Summary

Medical Foam: Market Snapshot, 2023 vs. 2028
Rigid Foam Segment to Lead in Terms of Value During Forecast Period
Bedding & Cushioning Segment to Lead Medical Foam Market During Forecast Period
Metal Foam Material to Lead Medical Foam Market During Forecast Period
Asia-Pacific to Witness Highest CAGR During Forecast Period

Premium Insights

Attractive Opportunities for Players in Medical Foam Market - Rise in Global Healthcare Expenditure and Growth of Implantable Devices Sector to Drive Growth
Medical Foam Market, by Region - Asia-Pacific to be Largest Regional Market
Medical Foam Market, by Form - Flexible Foam to Register Highest CAGR During Forecast Period
Medical Foam Market, by Application - Bedding & Cushioning to be Largest Application of Medical Foam
Medical Foam Market, by Type and Region - Asia-Pacific to Account for Largest Share of Medical Foam Market

Case Study Analysis

Use of Polyform Molded Foam Enhances Respiratory Device Performance
Maximizing Medical Product Excellence with Engineering Structural Foam at Brandon Medical

Companies Profiled

Armacell
BASF
Custom Foam Systems
Foam Techniques
Freudenberg
Future Foam
FXI Holdings
General Plastics Manufacturing Company
Huntsman Corporation
Inoac Corporation
Janco Inc.
Molnlycke Health Care
Polytag (Bela Tagra)
Porex
Recticel
Rogers
Rynel, Inc.
Sekisui Chemical
Shanghai Zhongwei New Materials
The Dow Chemical Company
The Woodbridge Group
Trelleborg
UFP Technologies
VIMTechnology
VPC Group
Wisconsin Foam Products

For more information about this report visit https://www.researchandmarkets.com/r/aytcc9

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