Medical Processing Seals Market | Key players: IDEX Corporation, Saint-Gobain S.A., Freudenberg Group, Trelleborg AB, Parker Hannifin Corp, Minnesota Rubber and Plastics, Marco Rubber & Plastic Products, LLC, Morgan Advanced Materials Plc, Bal Seal Engine

According to recent market research "Medical Processing Seals Market by Material ( Silicone, EPDM, Metals, PTFE, Nitrile Rubber), Type (O-Rings, Gaskets, Lip Seals), Application (Medical Equipment and Medical Devices), and Region - Global Forecast to 2023", The medical processing seals market is projected to grow from USD 1.4 billion in 2018 to USD 1.8 billion by 2023, at a CAGR of 5.0%.

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This growth is attributed to the increased demand for medical devices & equipment due to the growing healthcare industry. In addition, the expansion of the healthcare industry in APAC due to favorable trade policies proposed by the government of countries present in this region is expected to drive the medical processing seals market.

The medical processing seals market is projected to grow from USD 1.4 billion in 2018 to reach USD 1.8 billion by 2023, at a CAGR 5.0%. The favorable rules and regulations for the medical industry in the developing countries of APAC, the Middle East & Africa, and South America are expected to drive the medical processing seals market. Owing to the increased consumption of medical devices & equipment globally, especially in the rapidly growing economies in APAC, there is an increase of investments in the medical devices & equipment industries for capacity expansions. Expansion of the healthcare sector is expected to drive the medical processing seals market, globally.

There are various types of medical processing seals available in the global market, namely, O-rings, gaskets, lip seals, and others. These seals are available in different grades, shapes, and sizes. O-rings dominated the medical processing seals market owing to its high demand from medical devices & equipment. O-rings are used in the medical industry for static or dynamic application in equipment such as respiratory equipment, dialysis equipment, drug delivery devices, and medical devices such as valves, pumps, cylinders, and connectors. This segment is also projected to register the highest CAGR during the forecast period due to its cost-effectiveness and excellent performance.

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Medical processing seals are an important part of almost every medical device & equipment, as they are used for various functions such as to prevent contamination & leakage and to reduce friction & abrasion, among others. The properties of medical processing seals such as excellent chemical resistance, stability at extreme temperatures & pressure conditions enable them to be used in different applications. These properties are thus expected to drive the demand for medical processing seals during the forecast period.

The key players in the medical processing seals market include IDEX Corporation (US), Saint-Gobain S.A. (France), Freudenberg Group (Germany), Trelleborg AB (Sweden), Parker Hannifin Corp (US), Minnesota Rubber and Plastics (US), Marco Rubber & Plastic Products, LLC (US), Morgan Advanced Materials Plc (UK), Bal Seal Engineering, Inc. (US), and Techno AD Ltd (Israel). The medical processing seals market report analyzes the key growth strategies adopted by the leading market players, between 2014 and 2018, which include expansion, new product development, and merger & acquisition.

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Freudenberg Group is one of the leading manufacturers of medical processing seals. The company operates through three business segments, namely, seals and vibration control technology; nonwovens and filtration; household, and specialties and others business segments. The company offers sealing solutions for the medical industry through its subsidiary, Freudenberg Sealing Technologies. This company is a major player operating in the medical processing seals market. It offers a wide range of medical processing seals products, such as miniature dental O-rings and silicone O-rings, for the medical industry. The major advantage for the company is that it is backward integrated, and hence can easily formulate customized products according to the customers’ demands. It offers sealing solutions for various markets such as fluid technologies, heavy industries, mobile machinery, mobility, power, and others. The company offers medical sealing solutions through the fluid technology market.

Trelleborg AB is among the key players in the medical processing seals market. The company has adopted growth strategies such as merger & acquisition, expansion, and new product development. It offers engineered polymer solutions used in sealing, damping, and protecting applications. The company offers sealing solutions for the medical industry through its subsidiary, Trelleborg Sealing Solutions. It has a strong product portfolio of seals including diaphragms, sanitary gaskets, O-rings, and custom molded products for the medical industry. The company is one of the leading medical seals manufacturing companies, globally. It has a strong geographical presence in more than 40 countries with 28 manufacturing facilities and 9 R&D centers in Europe and the Americas.

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