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The medical foam market size is estimated to grow by USD 11.76 billion at a CAGR of 6.82% between 2023 and 2028. The market's expansion is contingent on several factors, including the rising demand for medical foam in wound care applications, the growing number of elderly individuals, and the increasing prevalence of chronic diseases. The demand for wound care is escalating due to its effectiveness in promoting healing and preventing infections. Additionally, the growing elderly population requires more advanced medical solutions, including those involving medical foam. Chronic diseases are on the rise globally, necessitating the use in various treatment modalities. As these trends persist, the market is expected to continue its growth trajectory, driven by the increasing need for innovative medical solutions in healthcare.
It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2018-2022.
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This market report extensively covers market segmentation by type (flexible foam, rigid foam, and spray foam), application (bedding and cushioning, device and components, packaging, and others), and geography (North America, Europe, APAC, South America, and Middle East and Africa).
The flexible foam segment is estimated to witness significant growth during the forecast period. This is a product with great potential in the global market. This type of foam has special properties such as flexibility and resilience. Flexible foam can be used for a variety of purposes in the healthcare industry. The flexible foam absorbs energy, provides cushioning, and maintains its shape. It can be used in medical devices and mattresses as well as orthopedic products.
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The flexible foam segment was the largest segment and was valued at USD 13.75 billion in 2018. Additionally, flexible foam manufacturers have been able to meet the unique needs of the medical industry through advances in technology and ongoing product innovation. By offering a range of customization options, such as medical foam with varying density, thickness, and properties, companies offer different products that meet the diverse requirements of healthcare professionals and patients. Thus, such factors will spur the growth of the flexible segment of the market during the forecast period.
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North America is estimated to contribute 42% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The US and Canada are key contributors to the North American market. With chronic diseases becoming more prevalent and the aging of the population in the region, the need for these products has become increasingly important.
Moreover, as North America's largest economy, the US is an important market. Medical foam products are also in high demand in Canada due to the country's high-quality healthcare system and government policies that focus on patient convenience and effective healthcare services. Additionally, the country's aging population and rising healthcare expenditure have contributed to the growth of the market. Hence, such factors are expected to drive market growth in this region during the forecast period.
The market stands apart from implantable devices and traditional wound care products used for treating issues like pressure ulcers and skin breakdown. These scanners are not related to beds, wheelchairs, or arthritis aids, but they do share a connection with padding and hot and cold pads used in dentistry. Unlike powered wheelchairs and respiratory devices, which serve different purposes, the 3D dental scanners market is unaffected by oil prices or the use of petroleum-based foam. Instead, it focuses on material sourcing for polymer foam fabrication and the use of chemicals like benzene and toluene in the creation of medical foam. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Increasing demand for medical foam in wound care applications is the key factor driving market growth. Medical foam has been recognized as the preferred material for wound care products due to its superior absorbency, superior fluid management, and soft cushioning properties. Wound care is an essential component of healthcare, and the demand for efficient wound care treatment is on the rise.
Moreover, as the prevalence of chronic wounds continues to increase, this is becoming increasingly sought after in wound care due to its ability to address the needs of these applications. Therefore, such factors will drive the growth of the market during the forecast period.
Increasing demand for medical foam in orthopedics is the primary trend shaping market growth. This is specifically designed for orthopedic or traumatic conditions to provide patient comfort, stability, and protection. Medical foam materials used in orthopedic products have superior cushioning, shock absorption, and pressure distribution properties, making them an ideal choice for use in a variety of procedures, devices, or products in orthopedic treatments.
Furthermore, as the global population ages and changes in lifestyle patterns result in an upsurge in the number of orthopedic conditions, medical mattresses are evolving as increasingly sought-after solutions due to their ability to provide adequate support and comfort for orthopedic patients. Thus, such factors will drive the growth of the medical mattresses market during the forecast period. The demand for specialized medical mattresses designed to alleviate pressure points, promote proper spinal alignment, and enhance overall comfort is rising, particularly in healthcare settings catering to elderly and orthopedically compromised patients. These mattresses play a crucial role in supporting therapeutic treatments and recovery processes, reflecting their growing importance in modern healthcare infrastructure. As healthcare facilities prioritize patient comfort and treatment efficacy, the market for medical mattresses is expected to expand significantly to meet these evolving needs.
Regulatory and compliance barriers is a challenge that affects market growth. One of the biggest regulatory issues in the market is the need to comply with medical device regulations and standards. To ensure the safety and effectiveness in healthcare products, they must meet certain safety and performance standards. These standards may vary across regions, adding to the complexity of the market.
In addition, the market is affected by a variety of standards and guidelines regarding product labeling, certification, and documentation. To obtain the necessary regulatory approvals, medical devices, and medical foam manufacturers must adhere to these standards, which can take a significant amount of time and money. Thus, such factors will impede the growth of the market during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2023 for the following segments
The market is distinct from the realm of petroleum-based foam and synthetic latex foam used in various applications. While it doesn't directly involve chemicals like polyol, phosgene, MDI, or TDI for medical foam creation, it does intersect with healthcare providers seeking advanced foam technologies for packaging solutions and wound care dressing applications. Unlike concerns over environmental impact and the search for sustainable alternatives in foam production, the 3D dental scanners market focuses on biocompatibility and meeting quality standards. It is unrelated to packaging and labeling faults but shares a commonality with foam in its lightweight structure, heat retention, sound absorption, and cushioning abilities, which are beneficial in surgical beds and orthopedic support.
Furthermore, the market is influenced by the use of materials like petroleum-based foam, MDI, TDI, and polymeric isocyanate in its production. However, there are growing environmental concerns and a focus on reducing the ecological impact of these materials. The market includes the flexible foam sector, which is crucial for applications such as packaging for medical devices, upholstery, and wound care. While polystyrene foam and polyolefin foam are commonly used, there is a shift towards more sustainable alternatives due to these environmental concerns. Overall, the market is evolving to balance performance with environmental responsibility.
Market Scope |
|
Report Coverage |
Details |
Page number |
173 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.82% |
Market growth 2024-2028 |
USD 11.76 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
5.85 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 42% |
Key countries |
US, China, Japan, UK, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
3M Co., Advanced Medical Solutions Group Plc, Avery Dennison Corp., BASF SE, Draka Interfoam B.V., DuPont de Nemours Inc., Foamtec International WCC, Freudenberg and Co. KG, General Plastics Manufacturing Co. Inc., Global Medical Foam Inc., H.B. Fuller Co., Huntsman International LLC, Recticel NV, Rogers Corp., Sekisui Chemical Co. Ltd., Transcontinental Inc., Trelleborg AB, UFP Technologies Inc., Vita Holdings Ltd., and Zotefoams plc |
Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the market forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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