Stratview Research has recently added a new report titled ‘Medical Seals Market’ to its collection. The report studies vital factors about the market that are essential for existing players as well as new market entrants. The report throws light on the critical elements such as market share, profitability, supply chain, production, sales, upcoming technologies, key market players, regional segmentation, and many more aspects related to the Medical Seals Market.

The key players covered in this report are –

  • Trelleborg AB
  • Parker-Hannifin Corporation
  • Saint-Gobain S.A
  • Greene Tweed & Co.
  • Bal Seal Engineering, Inc.
  • IDEX Corporation
  • Technetics Group
  • Apple Rubber Products, Inc.
  • Ceetak Ltd.

Market Highlights

Medical seals, a sizeable market, could not escape from such trends and witnessed a sluggish growth of 1.9% in the year 2020, which was around 8% lower than the growth rate of the previous year. However, the market is gradually regaining its growth momentum in 2021 with the increasing spending towards healthcare. Furthermore, the growing medical devices market coupled with increased concern towards individual health and increasing demand for wearable medical devices are likely to give an additional impetus to the demand for seals in the near future. On account of these drivers, the medical seals market is likely to grow at a propitious CAGR of 6.3% in the long run to reach US$ 1.9 Billion in 2026.

Segment-wise analysis

Based on the application type, the medical seals market is segmented into analytical instruments, medical devices, and surgical tools. Among application segments, analytical instruments are expected to remain the biggest demand generators for seals during the forecast period. Increasing research and development, the establishment of new research laboratories, growing diagnostic facilities, etc. are expected to propel the market with an increased demand for seals in the analytical instrument segment.

Elastomeric seals are the clear winners in the medical seals market. The life science industry is moving towards sustainable growth with the greater adoption of advanced materials. Thermoplastic materials offer higher mechanical properties at a relatively low weight and have a well-proven track record in the industry. Thermoplastic seals are also extensively used in the industry, owing to their desired properties, such as high chemical resistance, low friction, and biocompatibility.

Based on the product type, the medical seals market is segmented as O-rings, gaskets, lip seals, and others. O-rings are expected to remain the largest and the fastest-growing segment of the market during the forecast period. O-rings are widely used in various important applications including respiratory equipment, drug delivery devices, pumps, fluid transfer devices, etc. O-rings are cost-effective, customizable, extremely durable, and comes in all sizes & hardness.

Based on the end-user type, the market is segmented as hospitals, private clinics, and research laboratories. The private clinics segment is expected to remain fastest growing during the forecast period. Growing concerns toward individual health along with regular check-ups, increasing requirement of medical devices & analytical instruments in private clinics are expected to drive the growth of the market over the next five years.

Based on the certification type, the market is segmented as USP Class VI, FDA or ISO 13485, and others. Among segments, FDA or ISO 13485 is expected to remain the largest segment of the market during the forecast period. It is a must for all organizations that manufacture and re-packs medical equipment in the USA to register themselves with FDA. The USA is the biggest producer of medical equipment in the world which attributes to the dominance of the segment in the market.

In terms of regionsNorth America is projected to remain the dominant market for medical seals over the next five years owing to the presence of a large number of medical equipment manufacturers in the USA. However, Asia-Pacific, led by India and China, is expected to offer the highest growth opportunity to the market stakeholders in the near future. This growth will be attributed to the emergence of new medical device manufacturing plants in the region along with rising demand for seals.

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The main steps in the investigation process are:

  • Stratview Research has gathered the raw data from industry experts and direct research analysts using primary and secondary sources.
  • The experts also classify the information obtained by qualitative and quantitative data to place it in a proper way to make final conclusions.
  • This report also provides market intelligence and throws light on critical insights into the market dynamics.

The information gathered in the report enables strategic decision making for the existing players as well as those willing to enter the market. The report contains growth drivers and constraints, market trend and forecast analysis, market segment trend, competitive landscape and dynamics, attractive market segments and associated growth opportunities, etc.

Find some more reports:

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  2. Chromatography Tubing Market is Expected to Register a Considerable Growth by 2026

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