Medical Foam Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR (2024 - 2029) | 7.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Medical Foam Market Analysis
The Medical Foam Market is expected to register a CAGR of 7.5% during the forecast period.
The major factors driving the market's growth are the increasing demand for medical foam in pharmaceutical and medical device packaging, the rising geriatric population, the increased incidence of chronic diseases that need hospitalization, and the rising benefits of medical and government funding for developing advanced medical products. Medical foam is widely used in the pharmaceutical and healthcare industries because of its numerous benefits. It has advantages such as resilience to harsh climates and fungal illnesses. Medical foams are often used in equipment such as LCD screens, wound dressings, and prosthetic cushioning. As a result, the various advantages of medical foams are fueling market expansion.
Polyurethane and polystyrene foams are commonly utilized in medical equipment packing. Due to its lightweight, cushiony, and shock-absorbing properties, polyurethane foam is an excellent choice for packing medical goods. Soft, flexible foam is required to protect high-precision medical equipment. Hence, increasing production and transportation in the medical landscape may boost market growth. For instance, according to the India Brand Equity Foundation data updated in May 2024, medical device exports from India were valued at USD 2.53 billion in 2023. They were expected to surpass USD 10 billion by 2025. Thus, with the rising import, export, and transportation of medical devices, demand for medical foam is expected to increase, boosting market growth over the forecast period.
Moreover, strategic initiatives by the market players, such as collaboration, agreements, and product launches, are expected to propel the market studied over the forecast period. For instance, in July 2023, Gedeon Richter PLC and IQ Medical Ventures BV entered a share purchase agreement. This agreement entails the transfer of 100% of Giskit MD BV's shares from Giskit Holding BV, an affiliate of IQ Medical, to Richter. Giskit MD BV holds the global ownership of ExEm Foam and Giskit's assets and patent rights, except for the United States, China, and South Korea territories.
Therefore, factors such as the growing demand for medical foam in packaging, the rising benefits of medical foam, and strategic activities by market players are expected to boost market growth over the forecast period. However, strict laws and regulations associated with pharmaceutical and medical device packaging may restrain the growth of the market studied over the forecast period.
Medical Foam Market Trends
The Bedding and Cushioning Segment is Expected to Hold a Significant Share Over the Forecast Period
Hospital beds and cushions are specially designed for hospitalized patients or others in need of some form of healthcare. The demand for hospital beds, seat cushioning, and bed accessories such as pillows, head, neck, and shoulder supports is likely to rise during the forecast period, fueling the expansion of the medical foam market. Moreover, the expanding healthcare industry, marked by the construction of new facilities, has bolstered the demand for bedding and cushions, indicating the growing need for these products.
The growing number of hospital admissions is expected to propel the segment's growth over the forecast period. For instance, according to the American Hospital Association 2023, the United States was projected to witness 34 million hospital admissions in 2023. Scenarios like this are expected to bolster the demand for medical foam to produce medical beds and cushions, thereby boosting the segment's growth.
The increasing need for beds in hospitals may drive demand in the bedding and cushioning segment over the forecast period. For instance, in March 2023, NHS England announced plans to add 5,000 permanent hospital beds to restore urgent and emergency services over the next two years. Moreover, the launch of hospital facilities across the globe is anticipated to expand the demand for bedding and cushioning, thus boosting segment growth. For instance, in June 2022, the International Finance Corporation partnered with private healthcare developer Egyptians for Health Care Services (EHCS) to support the construction and operation of CapitalMed, a sprawling medical hub on the outskirts of Cairo that will improve healthcare services in Egypt. Establishing new medical hubs increases the need for medical beds, which is expected to drive the growth of the market over the forecast period.
The demand for medical foams for beds and cushions is predicted to expand with the increase in medical and healthcare projects around the world since they are less expensive and commonly used in healthcare, which is expected to drive the medical foam market during the forecast period.
North America is Expected to Hold a Significant Market Share Over the Forecast Period
North America holds a significant share of the medical foam market. It is expected to follow the same pattern over the forecast period owing to factors such as the growing burden of chronic diseases, the rising geriatric population, and increasing healthcare expenditures in the region. The market's growth is attributed to well-established healthcare infrastructure and the presence of key market players.
The growing burden of cancer and other chronic diseases in the region is anticipated to fuel market growth. For instance, according to the American Cancer Society's Cancer Facts and Figures 2024, the number of new cancer cases in the United States is estimated to be 2.0 million in 2024, compared to 1.96 million in 2023. This shows the growing burden of cancer, which may increase the risk of hospitalizations.
Furthermore, the growing burden of chronic diseases, which is more prevalent in the geriatric population, increases the chances of hospitalization, which may support market expansion over the forecast period. For instance, according to the US Census Bureau statistics published in March 2023, there were 55.89 million persons aged 65 and up in the United States, which constitutes 16.8% of the total population of 331.89 million. Furthermore, according to the Healthy Aging CORE data published in December 2023, the prevalence of most chronic diseases, such as osteoarthritis, ischemic heart disease, and other conditions, increases with age. This shows the high burden of the senior population, who are more prone to chronic diseases, which is expected to increase the demand for medical foams in hospital settings.
Rising per capita health expenditures in the United States help establish infrastructure, and the demand for medical devices such as medical foam is expected to increase significantly over the coming years. This is likely to boost the demand for medical foam in the region. For instance, according to the Centre for Medicare and Medicaid Report 2022, national healthcare expenditures (NHE) increased by 2.7% to USD 4.3 trillion in 2021 or USD 12,914 per person, representing 18.3% of the GDP. Health spending as a percentage of GDP is expected to rise from 18.3% in 2021 to 19.6% in 2031.
Thus, factors such as the growing burden of chronic diseases, the increasing geriatric population, and rising healthcare expenditures are expected to boost the market growth in North America over the forecast period.
Medical Foam Industry Overview
The medical foam market is fragmented and highly competitive. Market players are focusing on new product launches, product innovations, and geographical expansion. The key market players operating in the market include American Excelsior Company, American Foam Products, Heubach Corporation, UFP Technologies Inc., and Rogers Corporation.
Medical Foam Market Leaders
-
American Excelsior Company
-
American Foam Products
-
Heubach Corporation
-
UFP Technologies, Inc.
-
Rogers Corporation
*Disclaimer: Major Players sorted in no particular order
Medical Foam Market News
- May 2024: Consortium developed an evolutionary concept, Foam Recycling Ecosystem Evolution (FREE), for recycling end-of-life polyurethane mattress foams.
- January 2023: Convatec launched ConvaFoam, an advanced foam dressing designed to address the needs of healthcare providers and their patients. ConvaFoam is an easy dressing choice for wound management and skin protection since it can be applied to various wound types at any point in the wound journey.
Medical Foam Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Geriatric Population Coupled With Rising Prevalence of Chronic Diseases
4.2.2 Growing Demand for Medical Foam in Packaging
4.2.3 Various Benefits of Medical Foam and Growing Government Funding For The Development Of Advanced Medical Foam Products
4.3 Market Restraints
4.3.1 Strict Laws and Regulations
4.3.2 Fluctuation in the Raw Material Prices
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD)
5.1 By Foam Type
5.1.1 Flexible Foam
5.1.2 Rigid Foam
5.1.3 Spray Foam
5.2 By Product
5.2.1 Polyurethane (PU)
5.2.2 Polystyrene (PS)
5.2.3 Polyolefin
5.2.4 Polyvinyl chloride (PVC)
5.2.5 Other Products
5.3 By Application
5.3.1 Bedding and Cushioning
5.3.2 Medical Packaging
5.3.3 Medical Devices & Components
5.3.4 Prosthetics and Wound Care
5.3.5 Other Applications
5.4 Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Mexico
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 United Kingdom
5.4.2.3 France
5.4.2.4 Italy
5.4.2.5 Spain
5.4.2.6 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 China
5.4.3.2 Japan
5.4.3.3 India
5.4.3.4 Australia
5.4.3.5 South Korea
5.4.3.6 Rest of Asia-Pacific
5.4.4 Middle East and Africa
5.4.4.1 GCC
5.4.4.2 South Africa
5.4.4.3 Rest of Middle East and Africa
5.4.5 South America
5.4.5.1 Brazil
5.4.5.2 Argentina
5.4.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 American Excelsior Company
6.1.2 American Foam Products
6.1.3 Heubach Corporation
6.1.4 General Plastics Manufacturing Company Inc.
6.1.5 UFP Technologies Inc.
6.1.6 FXI
6.1.7 Rogers Corporation
6.1.8 Dow
6.1.9 Huntsman International LLC
6.1.10 3M
6.1.11 Rempac Foam LLC
6.1.12 VPC Group
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Medical Foam Industry Segmentation
As per the report's scope, medical-grade foams are primarily used in healthcare for several applications, including hydrophilic dressings, medical supports, braces, and other related products. Medical foams are also utilized in bespoke orthotics, underfoot pressure relief devices, prosthetic padding, and ostomy sealing equipment. Medical foams are utilized in various applications in the medical field, including heat and moisture exchange foams in medical breathing equipment, wound dressing foams for hydrophilic dressing, PVA foams to improve healing after surgery, and hydrophilic foams for anti-scar dressing.
The medical foam market is segmented by foam type, product, application, and geography. By foam type, the market is segmented into flexible foam, rigid foam, and spray foam. By product, the market is segmented into polyurethane (PU), polystyrene (PS), polyolefin, polyvinyl chloride (PVC), and other products. By application, the market is segmented into bedding and cushioning, medical packaging, medical devices and components, prosthetics and wound care, and other applications. By geography, the market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and South America. The report also covers the estimated market sizes and trends for 17 countries across major global regions. The report offers market sizes and forecasts in terms of value (USD) for all the abovementioned segments.
| By Foam Type | |
| Flexible Foam | |
| Rigid Foam | |
| Spray Foam |
| By Product | |
| Polyurethane (PU) | |
| Polystyrene (PS) | |
| Polyolefin | |
| Polyvinyl chloride (PVC) | |
| Other Products |
| By Application | |
| Bedding and Cushioning | |
| Medical Packaging | |
| Medical Devices & Components | |
| Prosthetics and Wound Care | |
| Other Applications |
| Geography | ||||||||
| ||||||||
| ||||||||
| ||||||||
| ||||||||
|
Medical Foam Market Research FAQs
What is the current Medical Foam Market size?
The Medical Foam Market is projected to register a CAGR of 7.5% during the forecast period (2024-2029)
Who are the key players in Medical Foam Market?
American Excelsior Company, American Foam Products, Heubach Corporation, UFP Technologies, Inc. and Rogers Corporation are the major companies operating in the Medical Foam Market.
Which is the fastest growing region in Medical Foam Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Medical Foam Market?
In 2024, the North America accounts for the largest market share in Medical Foam Market.
What years does this Medical Foam Market cover?
The report covers the Medical Foam Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Medical Foam Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Medical Foam Industry Report
Statistics for the 2024 Medical Foam market share, size and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports. Medical Foam analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
Medical Foam Market Report Snapshots
