Medical Foam Market
According to a report published by GMI Research, the Medical Foam Market is likely to grow at a rate of 6.1% from 2020 to 2027. The increasing application of medical foam in the packaging of valuable medical devices has bolstered the market growth. Also, the aggravating application of medical foams in the healthcare sector and laboratory research institutes has guided the market growth.
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Medical Foam Market Dynamics
The medical foam market is likely to bolster at a significant rate over the coming years. This is because of the increase in the disbursement of healthcare. The national health disbursement in the U.S. is likely to expand at a rate of 5.4% over the period of 2019-2028, which has encouraged market growth. The Medical Foam Market analysis asserts that the proliferation of the medical device industry, along with the increasing consciousness among the consumers towards periodic health and cleanliness, will elevate the market growth. For example, the World Health Organisation stated that over 2 million devices in the market can be categorized into a group of 7000 generic devices. Almost 34% of the 154 nations have a health technology policy that has substantially steered market growth. The intensified initiatives of the market players, such as expansion and adoption, have raised the market growth. SEKISUI CHEMICAL CO., LTD., in 2018, initiated its operations at its foam plants in China and Thailand, which has supplemented the market growth. However, the modernizations in the medical sector may be launched with a better and more economical substitute which may restrain the Medical Foam Market size.
Foam Type Segment Drivers
Based on the foam type, the flexible foam segment is projected to witness a sturdy boom over the coming years. Flexible foam is increasingly used in medical packaging, wound dressing, cushioning, and bedding, which has propelled the Medical Foam Market share.
Application Segment Analysis
By application, the bedding and cushioning segment will seize the largest share in the medical form market over the forecast period. This is because of the aggravating demand for seat cushioning, bed accessories, and hospital beds such as shoulder support, neck, and pillow support, which is anticipated to expand the overall market. In addition, the Medical Foam Market global forecast projected that the evolution of the coronavirus pandemic has raised the market demand.
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According to the report published by Allied Market Research, the global medical foam industry estimated at $23.6 billion in 2019, and is projected to reach $38.1 billion by 2027, growing at a CAGR of 6.1% from 2020 to 2027.
The report offers an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.Increase in number of aged population and requirement for enhanced comfort for patients and rise in need for protective packaging of medical devices and medical wearables fuel the growth of the global medical foam market.
Nevertheless, rise in number of private and government hospitals across the globe is anticipated to provide an array of opportunities for the market players in the approaching time.Request PDF Brochure: https://www.alliedmarketresearch.com/request-sample/8450Covid-19 scenario:The number of patients admitted to hospitals has increased during Coivd-19, which positively impacted the sales of medical foam.Patients infected with Covid-19 require a long time for recovery, thereby increasing the number of beds, which further surged the demand for the medical foam.Growing demand for PPE kits has further contributed to the growth of the market.The medical foam market is segmented on the basis of type, material, application and region.
Moreover, the report also analyzes segments including rigid and molded.Based on application, the market is divided on the basis of packaging, bedding and cushioning, device and components, and others.
The bedding and cushioning segment held the largest share in 2019, with more than half of the global market.
However, the device and components segment is estimated to portray the highest CAGR of 7.8% during the forecast period.Get Detailed COVID-19 Impact Analysis on the Medical Foam Market: https://www.alliedmarketresearch.com/request-for-customization/8450?reqfor=covidBased on region, the market is analyzed across various regions including Asia-Pacific, Europe, North America, and LAMEA.
Global Medical Foam MarketThe GMI Research forecasts that the Medical Foam Market is witnessing an upsurge in demand over the forecast period.
This is mainly due to the Rising global healthcare expenditure, expansion of the medical device sector, and increasing awareness among the consumers focus on periodic health and periodic cleanliness.Request a free sample of this reportIntroduction of the Medical Foam MarketMedical foam products are the products implemented across healthcare industry for several applications like gasketing and sealing in medical devices, patient cushioning and fluid management in long-term wear wound dressings.
Key Players of the Global Medical Foam Market:Future FoamFoamcraft, Inc.INOAC CORPORATIONHuntsman International LLCDowFXIRecticelTrelleborg ABSEKISUI CHEMICAL CO., LTD.BASF SEMedical Foam Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)The surging spending on healthcare across the world is one of the crucial factors driving the growth of the global medical foam market.
The U.S.'s National health expenditure will expand at a rate of 5.4% throughout 2019-2028.
Also, the growth of the medical device sector, along with the augmenting consciousness in individuals to emphasize periodic health and cleanliness, will strengthen the medical foam market size.
In 2018, SEKISUI CHEMICAL CO., LTD. commenced operations at its latest foam plants in China and Thailand, stimulating market growth.
