As per a new report published by Fact.MR – a market research and competitive intelligence provider, global medical foam industry analysis reveals that the market was valued at US$ 27 Bn in 2020, and is projected to top US$ 38 Bn by 2031, expanding at a healthy CAGR of 6% over the forecast period of 2021-2031.
Fact.MR anticipates a significant surge in demand for medical foam owing to factors such as rising geriatric population, increase in global health expenditure, rapid expansion of the medical devices sector, and consumer focus on health and periodic cleanliness.
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Key Takeaways from Market Study
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Key Market Segments Covered in Medical Foam Industry Analysis
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Winning Strategy
The medical foam market is characterized by the presence of various small- and medium-scale companies catering to global and local demands. Major market players are focusing on expansion strategies such as partnerships, new product development, agreements, technical collaborations, and capacity expansions.
Owing to the current pandemic, requirement for medical foam in the healthcare industry is on the rise. New and upcoming companies can focus on strategizing ways to seize new opportunities. Collaborative ventures with already established companies can leverage the growth prospects of upcoming manufacturers.
Read More Trending and Similar Reports from Fact.MR – https://www.globenewswire.com/en/news-release/2019/10/07/1925822/0/en/Customized-Packaging-Solutions-Propelling-the-Aerosol-Cans-Market-Finds-Fact-MR.html
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