As per the recently published report by MarketsandMarkets™, The “Medical Foam Market by Form (Flexible, Rigid, Spray), Material (Polymers, Latex, Metals), Application (Bedding & Cushioning, Medical Packaging, Medical Devices & Components, Prosthetics & Wound Care), and Region – Global Forecast to 2028″, size is projected to grow from USD 33.0 billion in 2023 and reach USD 43.3 billion by 2028, at a CAGR of 5.6% from 2023 to 2028. The expansion of this market can be credited to several factors, including the upward trend in the elderly population, the surge in worldwide healthcare spending, the advancement of implantable devices, and consumers transitioning from conventional to more sophisticated wound care solutions.
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- 377 Market data Tables
- 51 Figures
- 307 Pages and in-depth TOC on “Medical Foam Market – Global Forecast to 2028”
This report also provides a comprehensive analysis of the companies listed below:
Some of the leading manufacturers of medical foam profiled in this report are The Dow Chemical Company (US), Sekisui Chemical Co., Ltd. (Japan), Huntsman Corporation (US), Trelleborg AB (Sweden), BASF SE (Germany), Recticel NV (Belgium), INOAC Corporation (Japan), UFP Technologies, Inc. (US), FXI Holdings, Inc. (US), Armacell International SA (Germany), Rogers Corporation (US), Freudenberg Group (Germany), Molnlycke Health Care (Sweden) and others. These players have been focusing on developmental strategies, such as expansions, mergers & acquisitions, partnerships, and new product launches & developments, which have helped them expand their businesses in untapped and potential markets.
Recent Developments in Medical Foam Market Industry
- In March 2019, FXI and Innocor, leading players in polyurethane foam products, agreed to merge their business. The company will function under the name of FXI and offer its products, such as bedding, furniture, healthcare, filtration, transportation, and acoustics, to markets. The company will continue to sell Innocor’s Novaform and Sleep Innovations mattress brands. The company has increased its customer base and product portfolio with this merger.
- In April 2022, Sekisui Chemical’s raw material resin plant in the Netherlands, operated by its subsidiary SEKISUI S-LEC BV, transitioned to using 100% renewable energy sources for all its purchased electricity in 2022. This move is part of the company’s commitment to ESG (Environmental, Social, and Governance) management and its efforts to address climate change. The SEKISUI CHEMICAL Group has made climate change a key focus and aims to shift to 100% renewable energy for the electricity purchased by all its production sites by 2030.
- In September 2023, Dow Chemical Company started a new MDI distillation and prepolymers facility in Freeport, Texas, replacing its capacity in La Porte, Texas. This investment improves operational flexibility, reliability, and sustainability, reducing greenhouse gas emissions, freshwater intake, and wastewater discharge. The facility will supply 30% more products to customers, supporting growth in automotive, construction, consumer, and industrial markets.
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The flexible segment to lead the medical foam market during 2023-2028
Flexible foam stands out as the most extensively utilized due to its softness, flexibility, and durability. The rise in demand for this foam type is linked to its more economical nature compared to rigid and spray foam options. Moreover, its considerable use in bedding and cushioning, packaging medical devices, and wound care dressing has significantly propelled market expansion. The prevalence of flexible foam in these applications is due to its attributes, including softness, moisture resistance, and superior impact and mechanical properties.
The polymer segment will lead the medical foam market during the forecast period.
In terms of material, the polymer segment is anticipated to hold the leading position in the medical foam industry. This segment’s growth is credited to its widespread availability, ease of production, and cost-effectiveness. Polymer foams exhibit characteristics such as lightweight structure, heat retention, sound absorption, biocompatibility, and exceptional cushioning. Key polymer foam varieties utilized in medical contexts encompass polyurethane foam, polystyrene foam, polyolefin foam, among others.
Medical packaging is expected to register the highest growth during the forecast period.
In the forecast period, the most significant surge in the global medical foam market is projected to occur within medical packaging segment. Safeguarding the integrity and hygiene of medical products is paramount, making the packaging of medical devices, tools, and equipment very crucial. This encompasses the packaging of implants, medical tools, equipment, and in-vitro diagnostic devices (IVDs). The selection of packaging material varies according to the application and relies on the product’s intended function. For instance, plastics or metals find use in implant packaging.
Asia Pacific will lead the global medical foam market during the forecast period.
In 2022, the Asia Pacific region held the dominant share in the global medical foam industry. Forecasts suggest that this region will experience the highest Compound Annual Growth Rate (CAGR) between 2023 and 2028. The Asia Pacific market for medical foam is emerging as a lucrative sector due to demographic shifts, rising healthcare expenditure, industrial advancements, and improving economic circumstances. With approximately 60% of the world’s population residing in this region, there is extensive utilization of medical packaging, prosthetics, and medical devices.
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