Medical Foam Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Medical Foam Market Analysis

The medical foam market is expected to register a CAGR of 7.5% during the forecast period.

The medical foam market had been significantly impacted by the COVID-19 pandemic. The increasing cases of COVID-19 across the globe have surged the number of patients admitted to the hospital, resulting in a notable rise in demand for medical equipment such as medical foam. For instance, as per the study report published by Disaster Medicine and Public Health Preparedness in April 2021, given the severe COVID-19 cases in the Kingdom of Saudi Arabia, findings suggested the need for more hospital and ICU beds, which increased the demand for medical beds and cushions and had a significant impact on the market. Additionally, the packaging was a crucial factor for the COVID-19 vaccines and medical equipment during the pandemic, which had a significant impact on the market. For instance, in January 2021, Zotek was developed by Zotefoams as part of the USA Operation to Battle the COVID-19 Epidemic. High-performance closed-cell, crosslinked fluoropolymer foam aids in the safe and secure carriage of ultra-cold chain vaccination. Thus, the studied market had a significant impact on the market, and it is expected to grow at a stable pace over the forecast period.

The major factors driving the growth of the market are increasing demand for medical foam in pharmaceutical and medical device packaging, a rising geriatric population combined with an increased incidence of chronic diseases that need hospitalization, and the rising benefits of medical and government funding for the development of advanced medical products. Medical foam is widely used in the pharmaceutical and healthcare industries because of its numerous benefits. Medical foam has advantages such as resilience to harsh climates and fungal illnesses, which strengthens the market for medical foams. Medical foams are often used in equipment such as LCD screens, wound dressings, prosthetic cushioning, and others. As a result, the various advantages of medical foams are fuelling market expansion.

Furthermore, polyurethane and polystyrene foam are commonly utilized in medical equipment packing. Because it is lightweight, cushiony, and shock-absorbing, 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 may likely boost market growth. For instance, according to the India Brand Equity Foundation, in 2023, medical device exports from India were valued at USD 2.53 billion and 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 over the forecast period.

Furthermore, strategic initiatives by the market players, such as mergers and acquisitions, collaboration, product launches, and the establishment of a foam manufacturing facility, are expected to boost the market over the forecast period. For instance, in August 2022, Zotefoams launched the Ecozote Sustainability+ foam range at K 2022 with 30% recycled content LDPE grades. The Ecozote Sustainability+ LDPE closed-cell, crosslinked foams with 30% recycled content is suited for transportation, packaging, and insulation applications. Additionally, in February 2021, American Excelsior Company finalized plans to build a new 60,000-square-foot production facility adjacent to its current site at 180 Cleveland Road in Norwalk, Ohio. The current manufacturing facility is separated into two distinct businesses. One section of the factory is dedicated to the production of foam products for the company's Flexible Foam Division, which manufactures foam products for use in packaging, furniture, medical, and a variety of other industries.

Thus, all aforementioned factors, such as the growing demand for medical foam in packaging, 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 market over the forecast period.

Medical Foam Market Trends

Bedding & Cushioning Segment is Expected to Hold a Significant Share Over the Forecast Period

Medical Foam Industry Segmentation

As per the scope of the report, medical-grade foams are primarily used in the healthcare business for a number of applications, including hydrophilic dressings, medical supports, medical 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 a range of 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 (Flexible Foam, Rigid Foam, and Spray Foam), Product (Polyurethane (PU), Polystyrene (PS), Polyolefin, Polyvinyl chloride (PVC), and Other Products), Application (Bedding and Cushioning, Medical Packaging, Medical Devices and Components, Prosthetics and Wound Care, and Other Applications), and Geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The report offers the market size in value terms in USD for all the abovementioned segments.