Demand For Polyurethane Foam Is Estimated To Increase At A CAGR Of 8%, Reaching Us$ 10 Bn By The End Of 2031

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.

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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.

Over the past few years, demand for medical grade foam from the healthcare industry has heightened. This growing demand is attributable to special characteristics that these medical foams possess. Various properties of medical foam include lightweight, softness, flexibility, absorbency, durability, anti-fungal, anti-microbial, and stain resistance, making them irreplaceable in various medical practices.

Medical foams are also used for the packaging of pharmaceutical products, specialty products, and medical devices, as they provide security against harsh climatic conditions, ensuring product safety. With the expanding pharmaceuticals industry in both, developed and developing economies, demand for medical foam is set to upsurge over the coming years.

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Key Takeaways from Market Study

• Global revenue from medical foam sales was valued at US$ 27 Bn in 2020, and is projected to reach a valuation of over US$ 38 Bn by 2031.
• Key factors driving demand for medical foam are application in the packaging of medical devices, bedding & cushioning in the hospital sector, and foam dressing for wound care.
• Asia Pacific leads the market with more than 30% of global market share.
• Bedding and cushioning to be the highest revenue generating application of medical foam, accounting for 36% of global revenue.
• Polyurethane medical foam accounts for around 50% of the global market share, and is estimated to expand at an impressive CAGR of 8%over 2021-2031.
• Medical foam sales in China are forecasted to reach over US$ 6 Bn by 2031, expanding at a CAGR of around 11% over the next ten years.
• North America accounts for around 32% of the global market share for medical foam, with revenue in the U.S. reaching US$ 5 Bn in 2020.

“Attributable to the ongoing pandemic, demand for medical foam from the healthcare industry to experience continual ascent,” says a Fact.MR analyst.

Key Market Segments Covered in Medical Foam Industry Analysis

• On the Basis of Product:
  • Flexible Medical Foam
  • Rigid Medical Foam
  • Spray Medical Foam
• On the Basis of Material:
  • Polyurethane Medical Foam
  • Polystyrene Medical Foam
  • Polyolefin Medical Foam
  • Polyvinyl Chloride Medical Foam
• On the Basis of Application:
  • Medical Foam Used in Bedding & Cushioning
  • Medical Foam Used in Medical Packaging
  • Medical Foam Used in Medical Devices & Components
  • Medical Foam Used in Prosthetics & Wound Care

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Report Benefits & Key Questions Answered

•  Medical Foam Market Category and segment level analysis: Fact MR provides a detailed analysis of the factors influencing sales growth across key segments. It highlights key growth drivers and provides useful information for identifying sales prospects at the regional and local level.
•  Medical Foam Market Historical volume analysis: The report provides a comparison of Canned Cocktails Market historical sales and projected sales performance for 2021-2031.
•  Medical Foam Market Manufacturing trend analysis: The report offers a detailed analysis of manufacturing trends in the Solid State Battery Market It carefully gauges the impact of changing healthcare needs of key demographics globally
•  Medical Foam Market Consumption by demographics: The report investigates consumer behavior affecting  Solid State Battery Market demand outlook for the assessment period. Effect of their keenness for digital trends on Medical Foam Market is  carefully analyzed
• Post COVID consumer spending on Medical Foam Market Consumption: Healthcare industry has been largely influenced by COVID-19 pandemic. The Fact MR Market survey analyzed consumer spending post COVID-19. It assesses how current trends that will influence expenditure on healthcare services, thus affecting Medical Foam Market growth.

For More Insights-https://www.globenewswire.com/news-release/2022/03/09/2400432/0/en/Low-Code-Development-Industry-is-Projected-to-Achieve-a-Global-Market-Size-of-US-187-Bn-by-2032-Currently-US-Accounts-For-the-Largest-Market-Share-in-the-World.html

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