The global medical foam market size is estimated at USD 27.7 billion in 2020 and is projected to reach USD 37.2 billion by 2025, at a CAGR of 6.1% from 2020 to 2025. The growth of this market can be attributed to the increasing aging population, rise in global health expenditure, and growth of the implantable device sector and consumer shift from traditional to advanced wound care products.
Flexible foam is the most widely consumed since it is soft, flexible, and resilient. The growth of this foam segment can be attributed to its lower cost compared to rigid and spray foam. Additionally, the substantial consumption of flexible foam in bedding & cushioning applications, packaging of medical devices, and foam dressing in wound care applications, among others, has been driving the market growth. The consumption of flexible foam is higher in such applications due to its properties such as softness, moisture resistance, high impact & mechanical properties.
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An increase in the aging population & the need for patient comfort is expected to drive the bedding & cushioning segment. Flexible foams are preferred for bedding and upholstery due to the high resilience offered by them. The materials are used in surgical beds, cushions, comfort/positioning pads, wheelchair seats, and orthopedic support, among others, contributing to the growing demand for medical foams in the bedding & cushioning applications.
Asia Pacific to lead the global medical foam market during the forecast period
Asia Pacific accounted for the largest share of the global medical foam industry in 2020. The market here is anticipated to grow at the highest CAGR between 2020 and 2025. The Asia Pacific region is an emerging and lucrative market for medical foam, owing to the demographic changes, increasing healthcare spending, industrial development, and improving economic conditions. This region constitutes approximately 60% of the world’s population, resulting in the wide-scale use of medical packaging, prosthetics, and medical devices.
Some of the leading manufacturers of medical foam profiled in this report are The Dow Chemical Company (US), SEKISUI CHEMICAL CO., LTD. (Japan), Huntsman Corporation (US), Trelleborg AB (Sweden), BASF SE (Germany), Recticel NV (Belgium), INOAC Corporation (Japan), UFP Technologies, Inc. (US), FXI Holdings, Inc. (US), Armacell International S.A. (Germany), Rogers Corporation (US), Freudenberg Group (Germany), and Molnlycke Health Care (Sweden).
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