The report “Medical Processing Seals Marketby Material ( Silicone, EPDM, Metals, PTFE, Nitrile Rubber), Type (O-Rings, Gaskets, Lip Seals), Application (Medical Equipment and Medical Devices), and Region - Global Forecast to 2023” The medical processing seals market is projected to grow from USD 1.4 billion in 2018 to USD 1.8 billion by 2023, at a CAGR of 5.0%. This growth is attributed to the increased demand for medical devices & equipment due to the growing healthcare industry. In addition, the expansion of the healthcare industry in APAC due to favorable trade policies proposed by the government of countries present in this region is expected to drive the medical processing seals market.
Silicone dominates the medical processing seals market and is projected to be the fastest-growing material segment
In terms of material, silicone accounted for the largest share of the market, globally. Silicone is highly preferred material for the medical sealing application, as it is highly compatible with human tissue and body fluids as compared to other elastomers. Also, silicone does not support bacteria growth which makes it highly suitable for devices that have close contact with the human body. Another important material used in medical devices is liquid silicone rubber (LSR). LSR is used in different critical medical applications such as cardiology, oncology, and orthopedics, and others.
O-rings dominate the medical processing seals market by type
O-rings are universally used in medical equipment & devices owing to their low cost. O-rings are used in different types of dynamic and static applications in the medical industry. Static applications such as fluid or gas sealing applications majorly consume O-rings. The increasing demand for devices and equipment such as drug delivery devices, valves, pumps, cylinders, connectors, fluid transfer devices, respiratory equipment, and dialysis equipment in the developing countries APAC, South America, and the Middle East & Africa is expected to drive the demand for medical processing seals.
North America is projected to be the largest medical processing seals market.
North America (comprising the US, Canada, and Mexico) is estimated to account for the largest share of the global medical processing seals market in 2018. Huge consumption and demand for new and innovative medical devices & equipment in the region due to the presence of a strong healthcare sector is driving the demand for medical processing seals in the region.
IDEX Corporation (US), Saint-Gobain S.A. (France), Freudenberg Group (Germany), Trelleborg AB (Sweden), Parker Hannifin Corp (US), Minnesota Rubber and Plastics (US), Marco Rubber & Plastic Products, LLC (US), Morgan Advanced Materials Plc (UK), Bal Seal Engineering, Inc. (US), and Techno AD Ltd (Israel) are the key players operating in the market.
Medical processing seals are an important part of almost every medical device & equipment, as they are used for various functions such as to prevent contamination & leakage and to reduce friction & abrasion, among others. The properties of medical processing seals such as excellent chemical resistance, stability at extreme temperatures & pressure conditions enable them to be used in different applications. These properties are thus expected to drive the demand for medical processing seals during the forecast period.
The key players in the medical processing seals market include IDEX Corporation (US), Saint-Gobain S.A. (France), Freudenberg Group (Germany), Trelleborg AB (Sweden), Parker Hannifin Corp (US), Minnesota Rubber and Plastics (US), Marco Rubber & Plastic Products, LLC (US), Morgan Advanced Materials Plc (UK), Bal Seal Engineering, Inc. (US), and Techno AD Ltd (Israel). The medical processing seals market report analyzes the key growth strategies adopted by the leading market players, between 2014 and 2018, which include expansion, new product development, and merger & acquisition.
Freudenberg Group is one of the leading manufacturers of medical processing seals. The company operates through three business segments, namely, seals and vibration control technology; nonwovens and filtration; household, and specialties and others business segments. The company offers sealing solutions for the medical industry through its subsidiary, Freudenberg Sealing Technologies. This company is a major player operating in the medical processing seals market. It offers a wide range of medical processing seals products, such as miniature dental O-rings and silicone O-rings, for the medical industry. The major advantage for the company is that it is backward integrated, and hence can easily formulate customized products according to the customers’ demands. It offers sealing solutions for various markets such as fluid technologies, heavy industries, mobile machinery, mobility, power, and others. The company offers medical sealing solutions through the fluid technology market.
Trelleborg AB is among the key players in the medical processing seals market. The company has adopted growth strategies such as merger & acquisition, expansion, and new product development. It offers engineered polymer solutions used in sealing, damping, and protecting applications. The company offers sealing solutions for the medical industry through its subsidiary, Trelleborg Sealing Solutions. It has a strong product portfolio of seals including diaphragms, sanitary gaskets, O-rings, and custom molded products for the medical industry. The company is one of the leading medical seals manufacturing companies, globally. It has a strong geographical presence in more than 40 countries with 28 manufacturing facilities and 9 R&D centers in Europe and the Americas.
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