Medical Foam Market to Grow with a CAGR of 6.13% through 2028
Growing use of medical foam in prosthetics and wound care is expected to
drive the Global Medical Foam Market growth in the forecast period, 2024-2028.
According to TechSci Research report, “Medical Foam
Market – Global Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2028”, the Global Medical Foam Market stood at USD 25.18 billion in 2022 and is anticipated to grow with a CAGR of 6.13% in the forecast
period, 2023-2028. The initiatives taken by government based on Medical Foam has
led to favorable market conditions for the Global Medical Foam Market. Several
factors contribute to the growth of various Medical Foam products.
In Indiana, the
PFAS (Per- and Polyfluoroalkyl Substances) initiative is actively working
towards enhancing firefighter safety by implementing regulations on the use of
Class B firefighting foam. This foam, known for its fire suppression
capabilities, has been found to have a significant impact on the health of
firefighters due to the presence of harmful chemicals. By monitoring and
controlling the use of this foam, the initiative aims to mitigate the potential
risks and safeguard the well-being of these brave individuals who put their lives
on the line to protect others.
The Free Open
Access Medical Education (FOAM) initiative is a remarkable collection of
interactive online resources that have revolutionized medical education. This
initiative is driven by the noble goal of democratizing access to medical
knowledge and breaking down barriers to education. By providing free and easily
accessible learning materials to students, regardless of their geographical
location or financial constraints, the FOAM initiative is empowering aspiring medical
professionals to acquire the knowledge and skills they need to excel in their
careers. This inclusive approach not only makes medical education more widely
available but also contributes to reducing the financial burden associated with
traditional medical education resources.Recognizing the urgent need to address
environmental concerns related to PFAS, the Biden-Harris administration has
launched a comprehensive plan aimed at preventing the release of these harmful
substances into the environment. While the focus is not solely on medical foam,
this initiative has far-reaching implications for all industries that utilize
PFAS, including the medical foam sector. By implementing strict regulations and
promoting sustainable alternatives, this plan seeks to safeguard public health,
protect natural resources, and combat the detrimental effects of PFAS
pollution. Through collaborative efforts and innovative solutions, this
initiative aims to create a cleaner and healthier environment for present and
future generations.
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market data Figures spread through XX Pages and an in-depth TOC on "Global
Medical Foam Market”
With the
increasing prevalence of conditions requiring limb amputations and a global
population that is aging, prosthetics have become an indispensable component of
modern healthcare. In this context, medical foam plays a critical role in the
manufacturing of prosthetic devices, offering advantages such as comfort,
durability, and adaptability. Furthermore,
medical foam can be easily molded and customized to meet the specific needs of
individual patients, making it ideal for creating prosthetic devices that fit
perfectly. This ability to adapt to different shapes and sizes improves the fit
of the prosthetic, thereby enhancing mobility and reducing the risk of skin
complications. Foam dressings,
made from medical foam, exhibit exceptional absorbency, making them well-suited
for managing exuding wounds. They also create a moist healing environment,
which is essential for promoting wound recovery.
The Global
Medical Foam Market is segmented into form, material, application, regional
distribution, and company
Based on its application, the Medical Devices &
Components segment held the largest share in the market. Several factors can be
attributed to the growth of this segment, particularly the rising demand for
medical devices in the manufacturing industry. To meet the desired product
properties for medical devices, a combination of various plastics, such as
polystyrene (PS) and polyethylene, is utilized. This strategic combination
allows for the achievement of specific requirements and ensures the effective
utilization of these materials in the medical field.
Based on region, North America segment is expected to
grow during the forecast period. With the rising per capita health expenditure in the
United States, the demand for medical devices is anticipated to witness a
significant upsurge in the coming years. This surge in demand is expected to
have a direct impact on the demand for medical foam in the region. Moreover,
the increasing per capita healthcare spending in the form of health insurance
has emerged as a prominent trend that is shaping the North American market. This trend is projected to further propel the demand
for not only generic drugs but also medical devices in the foreseeable future,
consequently driving the growth of the regional market. The industry caters to
various key applications, including medical packaging and medical components
manufacturing, which play a crucial role in providing essential healthcare
solutions.
Additionally, the recent outbreak of COVID-19 in
countries such as the United States, China, Italy, France, and others has led
to a surge in demand for hospital bedding, medical devices, and wound dressing
applications. This increased demand is expected to have a positive impact on
the overall demand for medical foam in the aforementioned applications,
emphasizing its significance in addressing critical healthcare needs. As the healthcare landscape continues to evolve, the
growing demand for medical foam is poised to play a vital role in meeting the
expanding requirements of the healthcare industry, supporting advancements in
medical technology, and ultimately contributing to improved patient care.
Major companies operating in Global Medical Foam
Market are:
- 3M Co.
- Recticel NV
- Huntsman International LLC.
- SEKISUI CHEMICAL CO., LTD.
- General Plastics Manufacturing Company,
Inc.
- AVERY DENNISON CORPORATION
- ROGERS CORPORATION
- UFP TECHNOLOGIES, INC.
- Zotefoams plc
- Draka Interfoam B.V.
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“Growing application of Medical Foam in various end
user industries are key drivers of the Medical Foam market. Growth in
competitive landscape and presence of well-established companies in the market
who are dedicated to enhance their productivity of Medical Foam with every
passing year are anticipated to register an impressive growth to Global Medical
Foam Market in the forecast period.,” said Mr. Karan Chechi, Research Director
with TechSci Research, a research-based management consulting firm.
“Medical Foam Market By Form
(Flexible, Rigid, Spray), By Material (Polymers, Latex, Metal), By Application
(Bedding & Cushioning, Medical Packaging, Medical Devices & Components,
Prosthetics & Wound Care, Others), By
Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated
the future growth potential of Global Medical Foam Market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Medical Foam Market.
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