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Global Medical Foam Market to Grow at a CAGR of 6.3% During 2022-2027, Driven by the Increase in Healthcare Expenditure

According to a new report by EMR titled, ‘Global Medical Foam Market Report and Forecast 2022-2027’, the market attained a value of about USD 27.1 billion in 2020. The market is further estimated to grow at a CAGR of 6.3% in the forecast period of 2022-2027.

The Asia Pacific region is anticipated to account for a significant share of the global market for medical foam in the coming years. This can be attributed to the rising population and emerging economies in this region. The rapid development of the healthcare sector in this region is expected to augment the market for medical foam. Meanwhile, the market in North America and Europe is witnessing robust growth due to high living standards, high healthcare expenditure, and heightened consumer awareness regarding medical foam. Moreover, the presence of major manufacturers in the region is estimated to significantly contribute to the growth of the market in the forecast period.

Advanced Medical Solutions Group Plc (LON: AMS), one of the leading companies in the market, announced in November 2020 that it had received CE mark approval for its Silicone PHMB Foam Dressing. The product is a polyurethane foam that is impregnated with Polyhexamethylene Biguanide with an atraumatic perforated silicone wound contact layer. It is ideal for use in various wound management including diabetic ulcers, pressure sores, and post-op surgical burns and wounds. Moreover, it can manage microbial contamination and wound exudate while its atraumatic silicone layer reduces wound pain during dressing and healing changes. The product would be commercialised through AMS’s network of wound care distributors and partners in CE marked approved markets. The increasing approvals of such products are augmenting the market growth.

Market Analysis by Type, Material, Application, and Region:

  • The market, on the basis of type, can be divided into rigid, flexible, and moulded.
  • Based on material, the market can be segmented into polymer and metal, among others.
  • On the basis of application, the market can be divided into packaging, bedding and cushioning, and device and components, among others.
  • The regional markets for medical foam include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The growing incidences of epidemic outbreaks are surging the demand for various medical products, hence bolstering the market growth of medical foam.
  • The increasing use of medical foam for packaging various healthcare devices and pharmaceutical products is propelling the market growth.
  • The market for medical foam is being aided by the growing geriatric population and the rising government investments in the healthcare sector.
  • The growing focus on hygiene and health by consumers, in the wake of the COVID-19 pandemic, is providing impetus to the market growth of medical foam.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for medical foam for the periods (2017-2021) and (2022-2027).
  • The report also offers the historical (2017-2021) and forecast (2022-2027) markets for the types, materials, applications, and major regions of medical foam.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global medical foam market are Advanced Medical Solutions Group Plc, Apollo Foam Limited, Draka Interfoam B.V, Foamtec Medical, and Freudenberg Performance Materials Holding SE & Co. KG, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium-sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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