Global $1.8 Billion Medical Processing Seals Market by 2023: Outlook by Material, Type, Application and Region - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Mar 11, 2019--The “Medical Processing Seals Market by 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” report has been added to ResearchAndMarkets.com’s offering.
The medical processing seals market size is estimated to be USD 1.4 billion in 2018 and is projected to reach USD 1.8 billion by 2023, at a CAGR of 5%.
Majority of medical processing seals are consumed in the medical equipment industry. Capacity expansion in this industry will drive the demand for medical processing seals. High consumption of medical equipment & devices in North America due to the presence of a strong healthcare industry in the region is favorable for the medical processing seals market.
The high demand for new and improved equipment such as catheters, anesthesia equipment, and respiratory equipment used in the medical industry will have a favorable impact on the growth of the medical processing seals market. This overall growth in the medical equipment application is expected to drive the medical processing seals market.
O-rings type of medical processing seals accounted for the largest market share.
O-rings accounted for the largest share of the medical processing seals market. O-rings are used in medical devices & equipment applications in the medical industry. The growing demand for new and improved medical devices & equipment to cater to the increasing medical conditions globally is expected to drive the demand for O-rings, thereby boosting the medical processing seals market.
O-rings are used in different types of medical equipment & devices such as respiratory equipment, dialysis equipment, diagnostic equipment, and drug delivery devices. The huge consumption of these equipment & devices is expected to drive the O-rings medical processing seal market, globally.
Silicone is the largest medical processing seals market by material.
Silicone accounted for the largest share of the medical processing seals market. Silicone is preferred in the medical industry due to the qualities it possesses such as flexibility and stability in extreme pressure & temperature conditions, chemical inertness, and minimal bacterial growth.
Another reason for the consumption of silicone material is its cost-effectiveness, easy availability, and usage in the manufacture of O-rings and gaskets. Silicone rubber is used in medical devices such as syringe application, face mask or inhalers, and catheters. The growing consumption of O-rings and gaskets in medical devices & equipment is expected to drive the silicone segment of the market, globally.
North America is the largest medical processing seals market.
North America is the largest medical processing seals market, owing to the presence of a strong and developed healthcare industry in the region. North America is one of the key healthcare markets due to the presence of major economies such as the US and Mexico.
The rapidly growing demand for improved and innovative medical devices & equipment due to factors such as huge healthcare expenditure, increasing elderly population, and growing incidence of lifestyle diseases is expected to drive the demand for medical processing seals. The changing lifestyle and increased awareness about healthcare services among the general public in the region are expected to drive the medical devices & equipment market, ultimately boosting the growth of the medical processing seals market.
IDEX Corporation (US), Saint-Gobain S.A. (France), Freudenberg group (Germany), Trelleborg AB (Sweden), Parker Hannifin Corp (US), Marco Rubber & Plastic Products Inc. (US), Morgan Advanced Materials Plc (UK), Bal Seal Engineering (US), Techno AD Ltd (Israel), and Minnesota Rubber and Plastics (US) are the most active players in the market.
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
2 Research Methodology
2.1 Research Data
2.2 Market Size Estimation
2.3 Data Triangulation
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Medical Processing Seals Market
4.2 Medical Processing Seals Market in North America, By Type and Country
4.3 Medical Processing Seals Market: Major Countries
5 Market Overview
5.2 Market Dynamics
126.96.36.199 Increase in the Demand for Medical Devices & Equipment
188.8.131.52 Improved Medical Services in Urban Areas of Developing Countries
184.108.40.206 Adoption of Managed Equipment Services
220.127.116.11 Increase in the Purchase of Refurbished Medical Systems
18.104.22.168 Miniaturization of Medical Devices
22.214.171.124 Non-Availability of Substitutes for Medical Seals
126.96.36.199 Increase in the Overall Cost and Time Owing to Dynamic Regulatory Measures
5.3 Porter’s Five Forces Analysis
5.4 Macroeconomic Indicators
6 Medical Processing Seals Market, By Material
6.5 Nitrile Rubber
7 Medical Processing Seals Market, By Type
7.4 Lip Seals
8 Medical Processing Seals Market, By Application
8.2 Medical Devices
8.3 Medical Equipment
9 Medical Processing Seals Market, By Region
9.2 North America
9.5 South America
9.6 Middle East & Africa
10 Competitive Landscape
10.2 Market Ranking
10.3 Competitive Situations & Trends
11 Company Profiles
11.1 Idex Corporation
11.2 Saint-Gobain S.A.
11.3 Freudenberg Group
11.4 Trelleborg Ab
11.5 Parker Hannifin Corp
11.6 Minnesota Rubber and Plastics
11.7 Marco Rubber & Plastics, Llc
11.8 Morgan Advanced Materials Plc
11.9 Bal Seal Engineering, Inc.
11.10 Techno Ad Ltd
11.11 Additional Company Profiles
11.11.1 Maclellan Rubber Ltd
11.11.2 Precision Associates, Inc.
11.11.3 Fabri-Tech Components, Inc.
11.11.4 Performance Sealing Inc.
11.11.5 American High Performance Seals
11.11.7 Apple Rubber Products, Inc.
11.11.8 Darcoid of California
11.11.9 Technetics Group
11.11.10 Seal & Design Inc.
11.11.11 Le Joint Technique
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Related Topics:Medical Devices
INDUSTRY KEYWORD: HEALTH MEDICAL SUPPLIES
SOURCE: Research and Markets
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PUB: 03/11/2019 04:54 AM/DISC: 03/11/2019 04:54 AM