Medical Processing Seals (MPS) Market Size, Share, Growth Analysis, By Materials(The silicone MPS industry is anticipated to gain traction owing to growing preference over other elastomers. This can be ascribed to the higher suitability of the material in devices that have no close contact with the human body. Apart from limiting bacteria growth, silicone is known for its higher compatibility with body fluids and human tissue. Increasing adoption of silicone O-rings to show extreme flexibility even in low ambient temperatures will act as a substantial driver for the market growth.), By Application segmentation(The MIPS market share from O-rings is likely to reach a significant value. This can be attributed to the growing utility of O-rings in several applications, like drug delivery devices) - Industry Forecast 2024-2031

Segmentation Analysis:

The Medical Processing Seals (MPS) Market is segmented by Materials, Application segmentation. We are analyzing the market of these segments to identify which segment is the largest now and in the future, which segment has the highest growth rate, and the segment which offers the opportunity in the future.

• Based on Materials the market is segmented as, The silicone MPS industry is anticipated to gain traction owing to growing preference over other elastomers. This can be ascribed to the higher suitability of the material in devices that have no close contact with the human body. Apart from limiting bacteria growth, silicone is known for its higher compatibility with body fluids and human tissue. Increasing adoption of silicone O-rings to show extreme flexibility even in low ambient temperatures will act as a substantial driver for the market growth.
• Based on Application segmentation the market is segmented as, The MIPS market share from O-rings is likely to reach a significant value. This can be attributed to the growing utility of O-rings in several applications, like drug delivery devices, respiratory equipment, fluid transfer devices, and pumps. On account of their flexible usage, medical-grade O-rings are witnessing higher penetration in medical devices like valves, cylinders, and connectors. Benefits, such as affordability, ease of customization, extreme durability, as well as availability in all sizes & hardness along with higher adoption in dynamic and static applications will favor the market expansion. Demand for medical processing seals in private clinics will expand with rising obligation for medical devices & analytical instruments in these facilities. The growing need for regular check-ups considering the increase in concerns towards individual health will influence the industry progression. North America is expected to record significant consumption of medical processing seals through 2028 on account of the promising advancements in the healthcare sector in the region. The considerable rise in consumption and thriving need for novel as well as innovative medical devices and equipment has paved the path for robust presence of numerous medical equipment manufacturers, mainly in the U.S. Factors, like rising healthcare investments and hiking per capita medical expenditures, will also play a key role in proliferating the regional market share. These firms are also keen on capacity expansions for strengthening their market position. For instance, in January 2021, Kaman Corp. acquired Bal Seal Engineering to significantly expand its product base of engineered products. The acquisition also made way for new opportunities to cater to customers in the medical technology, aerospace, defense, and industrial markets., Impact of the COVID-19 crisis on MPS industry outlook