The North American Medical Grade Silicone market is anticipated to grow significantly at a CAGR of 5.9% over the forecast period. The US and Canada are the key economies that contribute to the growth of the North American Medical Grade Silicone market over the forecast period. The key aspect that drives the growth of the North American Medical Grade Silicone market includes the rising prevalence of chronic cardiovascular diseases across the North American region. The North American market has witnessed potential growth owing to the rising prevalence of CVDs. According to the Heart & Stroke Foundation in Canada, 1.6 million fatalities occur every year due to stroke and at least 1.3 million Canadians live with heart disease.
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According to the Center for Medicare and Medicaid Services, in 2018, the US national healthcare expenditure was around $3.6 trillion showing a 4.4% increase in healthcare expenditure up from 3.9% in 2017. It is further expected to reach $6.0 trillion by 2027. The US has the highest healthcare spending across the globe. Hence, this is also likely to contribute to the growth of the market. Further, the presence of the key players also supports the growth of the North American medical grade silicone market over the forecast period.
North American Medical Grade Silicone Market – Segmentation
By Form
- Gels
- Medical Adhesives
- Medical Coatings
- Elastomers
By Application
- Medical Devices
- Medical Tapes
- Oral Care
- Prosthetics & Orthopedic
- Contact Lenses
- Others
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North American Medical Grade Silicone Market– Segment by Region
North America
- United States
- Canada
Company Profiles
- 3M Co.
- Bluestar Silicones (Elkem Group)
- DOW Corning Corp.
- Finesse Medical Ltd.
- Henkel AG & Co. KGaA
- Momentive Performance Materials Inc.
- Primasil Silicones Ltd.
- Royal DSM NV
- Saint-Gobain Performance Plastics
- Specialty Silicone Fabricators, Inc.
- Stockwell Elastomeric Inc.
- Vesta Inc.
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