Middle East and Africa Medical Grade Silicone Market Size is Projected to Reach USD 1078.58 Million by 2030, Growing at a CAGR of 4.83%: Zion Market Research
Zion Market Research
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Zion Market Research
The Middle East and Africa Medical Grade Silicone Market size was valued at USD 739.28 million in 2022 and is expected to surpass USD 1078.58 million by 2030, registering a CAGR of 4.83% during the forecast period (2023-2030), as highlighted in a report published by Zion Market Research. The Middle East and Africa Medical Grade Silicone Market is projected to grow at a significant rate due to the growing healthcare infrastructure.
DUBLIN, Ireland, June 20, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Middle East and Africa Medical Grade Silicone Market 2023 – 2030” in its research database. According to the latest research study, the middle east and africa medical grade silicone market size was worth at approximately USD 739.28 million in 2022. The market is expected to grow above a CAGR of 4.83% and is anticipated to reach over USD 1078.58 million by 2030.
Middle East and Africa Medical Grade Silicone Market Overview:
The industry refers to the production and sale of medical grade silicone materials and products within the Middle East and Africa region. They are specialized forms of silicone that are produced following stringent regulatory standards. Medical grade silicone is specially formulated to be used in a healthcare setting. The Middle East and Africa medical grade silicone market encompasses various products and applications that utilize medical grade silicone, including medical devices, implants, prosthetics, catheters, tubing, seals, gaskets, wound dressings, and other healthcare-related products. The industry dynamics are expected to vary within the Middle East and Africa region mainly due to differences in healthcare infrastructure, economic conditions, regulatory frameworks, and cultural factors.
As per the analysis, the middle east and africa medical grade silicone market share is likely to grow above a CAGR of around 4.83% between 2023 and 2030.
The Middle East and Africa Medical Grade Silicone Market size was worth around US$ 739.28 million in 2022 and is estimated to hit approximately US$ 1078.58 million by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
The Middle East and Africa medical grade silicone market is anticipated to reach at a substantial rate due to the increasing healthcare infrastructure.
Based on application segmentation, medical devices were predicted to show maximum market share in the year 2022
Based on type segmentation, liquid silicone rubbers (LSR) were the leading type in 2022
On the basis of region, the Middle East was the leading revenue generator in 2022
Competitive Players:
The report contains qualitative and quantitative research on the Middle East and Africa Medical Grade Silicone Market, as well as detailed insights and development strategies employed by the leading competitors.
Some of the main players in the Middle East and Africa Medical Grade Silicone Market include;
The Middle East and Africa medical grade silicone market is projected to grow owing to the growing prevalence of chronic and other medical conditions in these regions. Some of these issues include cardiovascular diseases, diabetes, and cancer leading to higher demand for implants, medical devices, and prosthetics. A report by the National Institutes of Health (NIH) claims that the number of cancer patients in the Middle East corresponds to nearly 2.4% of the global incidence. Between 2008 and 2020, cancer incidences in Africa increased from 715,000 to 1.1 million, as reported by Frontiers.
Furthermore, growing advancements in healthcare infrastructure are also expected to play a crucial role in Middle East and Africa medical grade silicone industry expansion. These investments are directed toward building state-of-the-art medical facilities such as hospitals, clinics, and research facilities. Such events create opportunities for tremendous expansion. Moreover, the rising interest of Western countries in the Middle Eastern nations such as Saudi Arabia and the United Arab Emirates (UAE) in all sectors, including healthcare, is important for market growth. This can be witnessed in the growing number of collaborations between medical device manufacturers, silicone suppliers, and healthcare providers across continents.
Restraints
The regional market faces certain growth limitations. For instance, the political turmoil in African countries with the recent incidents of military attacks has put healthcare infrastructure growth in Africa, on hold. Many companies are shying away from investing in the region due to a lack of favorable policies from the government and the threat of harm to assets and human resources. Additionally, cultural and religious beliefs in certain nations could restrict the adoption of certain types of medical devices and market players have to ensure that they function within the cultural norms of the nation they are operating in.
Opportunities & Challenges
The rise in cosmetics and aesthetic procedures may provide growth opportunities while the lack of standardization could challenge market expansion.
Middle East and Africa Medical Grade Silicone Market: Segmentation
The Middle East and Africa medical grade silicone market is segmented based on application, type, and region.
Based on application, the market segments are medical devices, prosthetics, orthopedic components, contact lenses, medical tapes, and others. The Middle East and Africa medical grade silicone industry was dominated by the medical devices segment in 2022 as it includes a wide range of products with regular usage in the healthcare sector across hospitals, clinics, and home care. Medical devices formulated using medical grade silicone include implants, catheters, tubing, respiratory masks, wound dressings, seals & gaskets, surgical instruments, and many others. Flexibility and resistance to chemicals or heat are the main reasons for the growing use of these variants of silicone in the production of medical devices. As per a report by Scielo, cardiac surgeries in low to middle-income regions in Africa are performed at a rate of 0.5 operations per million. The number in the higher-income nations is 500 operations per million.
Based on type, the market divisions are gels, medical coatings, medical adhesives, liquid silicone rubbers (LSR), and others. The highest CAGR was observed in the liquid silicone rubbers (LSR) segment. It is a versatile material and hence has larger applications. It is a two-part liquid silicone system that cures into a solid elastomer when exposed to heat. The main reasons for LSR being preferred in many medical applications include its biocompatibility, high chemical resistance, excellent purity, and higher stability at a range of temperatures. It can be molded into complex shapes and provides flexibility, durability, and softness, making it suitable for applications such as implants, catheters, tubing, seals, gaskets, and various other medical devices. Its unique properties and processing capabilities make it a preferred choice for many manufacturers in the regional medical industry. The Middle East and Africa healthcare industry is over USD 0.8 billion as of 2023.
The Middle East and Africa medical grade silicone market is projected to be led by the Middle East economy due to the presence of a large number of high-income groups in certain nations such as UAE and Saudi Arabia. Additionally, these countries have improved relations with Western counterparts and there are growing incidents of strategic partnership, either led by private companies or with the aid of government interventions.
Furthermore, stringent regulations and standards set by regulatory authorities, such as the Saudi Food and Drug Authority (SFDA) and the UAE Ministry of Health and Prevention (MoHAP), influence the market dynamics in the region. North African countries like Egypt, Morocco, and Algeria are registering high demand for medical grade silicone due to increasing focus on healthcare infrastructure development.
Report Scope:
Report Attribute
Report Details
Market Size in 2022
USD 739.28 Million
Market Forecast in 2030
USD 1078.58 Million
Growth Rate
CAGR of 4.83%
Base Year
2022
Forecast Years
2023- 2030
Key Companies Covered
Dow Corning Corporation, Wacker Chemie AG, Momentive Performance Materials Inc., Shin-Etsu Chemical Co. Ltd., Elkem ASA, NuSil Technology LLC, Specialty Silicone Products Inc., Saint-Gobain Performance Plastics, Bluestar Silicones International, Nusil Technology LLC, Kibaru Manufacturing Sdn Bhd, Siltech Corporation, Rogers Corporation, Shenzhen Square Silicone Co. Ltd., Reiss Manufacturing Inc., China National Bluestar (Group) Co. Ltd., Primasil Silicones Limited, Shin-Etsu Silicones of America Inc., Cabot Corporation, Silmaco NV, Silicones Inc., Huanxin Fluoro Material Co. Ltd., Silicone Engineering Ltd., Quantum Silicones LLC, and GE Toshiba Silicones Co. Ltd.
Segments Covered
By Application, By Type, and By Region
Regions Covered
North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa
Customization Scope
Avail customized purchase options to meet your exact research needs.
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Recent Industry Developments:
In June 2022, AVISA announced its plan to launch the first smart hospital in Sharjah. AVISA has signed a 9-year deal with the Royal Hospital for this undertaking
In January 2023, Lifecare Hospital in Musaffah announced the opening of an Emergency Department that will offer the workforce in this region, access to the highest quality of critical care
In March 2023, Global Medical City (GMC), in Nasr City, Egypt, commenced its operations. The project is a result of a partnership between the Supreme Council of Al-Azhar and Global Medical Solutions International (GMSI)
The Middle East and Africa Medical Grade Silicone Market is segmented as follows:
What is the market size and growth rate forecast for Middle East and Africa Medical Grade Silicone industry?
What are the main driving factors propelling the Middle East and Africa Medical Grade Silicone Market forward?
What are the leading companies in the Middle East and Africa Medical Grade Silicone Industry?
What segments does the Middle East and Africa Medical Grade Silicone Market cover?
How can I receive a free copy of the Middle East and Africa Medical Grade Silicone Market sample report and company profiles?
Key Offerings:
Market Size, Trends, & Forecast by Revenue | 2023−2030
Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
Market Segmentation – A detailed analysis By Application, By Type, and By Region
Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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