The rising worldwide need for medical equipment due to the development of the healthcare infrastructure & rising healthcare sector is anticipated to propel the medical processing seals market.
Newark, Nov. 30, 2022 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 1.83 billion in 2022 medical processing seals market will reach USD 2.72 billion by 2030. In just eight years, Medical Processing Seals has moved from an uncertain, standalone niche use case to a fast-growing, high return on investment (ROI) application that is truly delivering value to users. In the coming years, there will be ample opportunities for market growth owing to the increasing need for advanced pharma production devices and the persistent focus on research efforts for creating new products.
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Key Insight of Medical Processing Seals Market
North America to account for largest market size during the forecast period
North America is expected to have the largest market share in the medical processing seals market. Key factors favouring the growth of the medical processing seals market in North America include the country's potential progress in the healthcare sector, the United States is expected to experience an increased need for medical processing seals from 2022 to 2030. A significant element in expanding the United States. The medical processing seals market has noticed the strong presence of several medical equipment manufacturers, increased healthcare investments, and growing per capita medical costs. The Asia Pacific market has also been growing considerably in countries like China and Japan due to dedicated pharma manufacturing growth, increased company investment spending, and robust economic development.
Medical Processing Seals Market Scope:
Growth momentum & CAGR
Accelerate at a CAGR of 5.10%
Market growth 2022-2030
USD 2.72 billion
APAC, Europe, North America, South America, and MEA
Performing market contribution
North America to account for largest market size during the forecast period
Leading companies, competitive strategies, consumer engagement scope
Trelleborg Ab,Techno Ad Ltd,Saint-Gobain S.A.,Parker Hannifin Corp,Morgan Advanced Materials Plc,Minnesota Rubber and Plastics,Marco Rubber and Plastics, Llc,Idex Corporation,Freudenberg Group,Bal Seal Engineering, Inc.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for the forecast period.
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O-ring Segment Accounted for the Largest Market Share of 33.6% in 2022
The O-ring segment held the largest share in the global medical processing seals market, due to in the medical industry, O-rings and medical devices usually seal against harsh chemicals that eventually eat away most rubber materials. Viton (a type of O-ring) shows outstanding resistance to these chemicals, gases, and solutions typically used in medical applications. Viton seals stay long-lasting in crucial sealing environments. Viton seals primarily to protect against substances like silicone fluids, glucose, acids, oxygen, carbon dioxide, and oils.
The silicone segment accounted for the largest market share of 17% in 2022
The silicone segment is anticipated to dominate the market in the forthcoming years, as silicone is a highly used material for medical sealing, as it is positively compatible with human tissue and body fluids corresponding to different elastomers. Another essential material used in medical devices is liquid silicone rubber (LSR). Liquid silicone rubber is used in crucial medical applications like oncology, orthopaedics, cardiology, etc. Likewise, silicone does not sustain bacteria growth, making it suitable for devices that have close contact with the human body.
Medical Equipment Segment Accounted for the Largest Market Share of 55% in 2022
The application segment is divided into medical devices, and medical equipment. The medical equipment segment dominated the market, with a market share of around 55% in 2022. Growing medical facilities will boost the need for medical equipment in the market. The healthcare and medical equipment sectors have expanded enormously in the last few years. The massive gap in the demand and supply of medical equipment will provide a substantial opportunity for leading market manufacturers.
Advancement in market
In January 2019, Trelleborg Sealing Solutions acquired Sil-Pro, LLC, a silicone, and thermoplastic manufacturer for the medical sector. The plan was adopted by Trelleborg Sealing Solutions to improve its silicone product line and improve manufacturing. Therefore, with the help of such initiatives of market players, the development of the entire market is influenced.
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Drivers: Increased use of hydraulic seals in the medical industry
The dedicated high execution of hydraulic seals is essential to applications in the medical industry. They are commonly used in pharmaceutical gear and medical devices where fluids are collected or transferred. Determining the correct sealing solution is critically crucial when human life is concerned. Hydraulic seal negligence in medical applications can induce serious problems, varying from incorrect drug dosages to vital malfunctions with artificial hearts. These severe illustrations might not be commonplace, but they emphasize the significance of utilizing high-grade sealing solutions designed for the specific needs of such critical environments and applications.
Restraint: Double Mechanical Seal
Some of the liquids are not perfect with a double mechanical seal pump. Regularly these fluids bring rough material in suspension that would fast wear the seal faces, or the fluid might be harmful and hazardous. Similarly, the natural controls and multiple seals or double mechanical seals are used.
Opportunities: Increased Need for Pharmaceutical Processing Seals from Pharmaceutical Firms to produce Cutting-edge Devices
In the coming years, there will be ample opportunities for market growth owing to the increasing need for advanced pharma production devices and the persistent focus on research efforts for creating new products. Similarly, in the future, technological advancements will improve the popularity of the products. Over the projection period, a booming healthcare sector is expected to develop new growth prospects for the pharmaceutical processing seals sector. Additionally, the advancement in non-communicable disease patients and the increasing population around the world will drive business growth in the future.
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Some of the major players operating in the medical processing seals market are:
• Trelleborg Ab
• Techno Ad Ltd
• Saint-Gobain S.A.
• Parker Hannifin Corp
• Morgan Advanced Materials Plc
• Minnesota Rubber and Plastics
• Marco Rubber and Plastics, Llc
• Idex Corporation
• Freudenberg Group
• Bal Seal Engineering, Inc.
Key Segments cover in the market:
• Lip Seals
• Nitrile Rubber
• Medical Devices
• Medical Equipment
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, Product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
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