DUBLIN--(BUSINESS WIRE)--The "Life Science/Medical Seals Market by Application Type, by Product Type, by Material Type, by End-User Type, by Certification Type and by Region, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2019-2024" report has been added to ResearchAndMarkets.com's offering.
The global life science/medical seals market offers robust growth opportunities for the companies across the value chain. The market size in 2024 for life science/medical seals market is expected to be 1.4 times of that in 2018.
During the next six years period of 2019-2024, an estimated US$ 9.5 billion worth of life science/medical seals are expected to be sold globally, which is up by 40.4% from the last six years' cumulative (2013-2018) sales. It is a good time for the existing players as well as new entrants to leverage their strength in order to take the advantages of opportunities in the seals market for life science industry.
The global business environment is experiencing a rapid change, owing to changing dynamics in economic, social, political, and technological arenas. This demands the players in the life science/medical seals market to quickly adapt to the changing business environment and build market strategies to improve growth and mitigate risks.
Stringent regulations/certification and demand by the medical OEMs on life science/medical seals manufacturer are compelling the manufacturers to increasingly incorporate cleanroom production to contamination with the purpose to improve performance and durability of the seals. The regulation not only enforces cleanliness but it also forces the life science/medical seals manufacturers to develop a reliable, cost-effective, high-performance sealing solution with capabilities to withstand high operating pressure and temperature cycles. Worldwide Medical Devices in 2016 has anticipated that there would be sales of US$ 386 million worth of medical devices in the world during the year 2018 and reach a value of US$ 435.7 by 2020. This reflects a high market potential for seals in the medical device industry.
North America is projected to remain the dominant market for life science/medical seals over the next five years, whereas Asia-Pacific is likely to provide the highest growth opportunity during the same period. The region continues to demonstrate vigorous growth as its economy outpacing the global average, driven by few APAC Markets. India and China are expected to be the fastest-growing markets over the next five years compared to Japan and Australia, whereas the USA, Japan, and Germany are likely to remain the largest markets in West, during the same period. Life science/medical seals manufacturers can maximize their growth by developing the right regional expansion strategy keeping in mind the countries with good expected future growth and dominance.
Global Life Science/Medical Seals Market Share Analysis
The global life science/medical seals market is moderately consolidated with the top five players (Saint-Gobain S.A., Trelleborg AB, Freudenberg Group, IDEX Corporation and Parker Hannifin Corporation) capturing 39.1% share of the total market in 2018. These players are projected to remain dominant over the next five years as well. The USA is the manufacturing hub of the medical device industry with the presence of several OEMs, tier players, and raw material suppliers. North America and Europe (majorly Western Europe) are the two biggest regions in the medical device market with the USA being the largest producer as well as the largest consumer of medical devices in the world.
All the top five players in the global life science/medical seals market, Saint-Gobain S.A., Trelleborg AB, Freudenberg Group, IDEX Corporation and Parker Hannifin Corporation; are either USA-based companies or based in Europe. There are a modest number of players in the world manufacturing seals for the life science industry as it requires to meet the stringent FDA, USP, ISO as well as other standards (such as NSF) and approvals & certifications from OEMs, which is time-consuming and highly expensive and requires excellent technological capabilities.
Key Topics Covered:
1. Executive Summary
2. Impact Analysis
2.1. Impact of US-China trade war on the seal market in 2020
2.2. Impact of China-Russia closeness on the seal market in 2020
2.3. Impact of Make in India Initiative and Incentives for New and Existing Players in 2020
2.4. Impact of Unrest in South America and Growth of the Seals Market in 2020
2.5. Impact of New Initiatives Taken in Central Africa and Growth in New Markets, such as Kenya, in 2020.
2.6. Trends in Sales and Distributors of the Medical Seals Market
3. Life Science/Medical Seals Market - Overview and Market Forces
3.2. Market Classification
3.3. Market Drivers
3.4. Market Constraints
3.5. Supply Chain Analysis
3.6. Industry Life Cycle Analysis
3.7. PEST Analysis: Impact Assessment of Changing Business Environment
3.8. Porter's Five Force Model
3.9. SWOT Analysis
4. Life Science/Medical Seals Market Analysis - By Application Type
4.1. Strategic Insights
4.2. Analytical Instrumentation: Life Science/Medical Seals Market Trend and Forecast (US$ Million)
4.3. Surgical Tools: Life Science/Medical Seals Market Trend and Forecast (US$ Million)
4.4. Medical Devices: Life Science/Medical Seals
5. Life Science/Medical Seals Market Analysis - By Product Type
5.1. Strategic Insights
5.2. Life Science/Medical O-Rings Seals Market Trend and Forecast (US$ Million)
5.3. Life Science/Medical Gaskets Market Trend and Forecast (US$ Million)
5.4. Life Science/Medical Lip Seals Market Trend and Forecast (US$ Million)
5.5. Other Life Science/Medical Seals Market Trend and Forecast (US$ Million)
6. Life Science/Medical Seals Market Analysis - By Material Type
6.1. Strategic Insights
6.2. Life Science/Medical Metal-based Seals Market Trend and Forecast (US$ Million)
6.3. Life Science/Medical Elastomer-based Seals Market Trend and Forecast (US$ Million)
6.4. Life Science/Medical Thermoplastic-based Seals Market Trend and Forecast (US$ Million)
6.5. Life Science/Medical Composite-based Seals Market Trend and Forecast (US$ Million)
7. Life Science/Medical Seals Market Analysis - By End-User Type
7.1. Strategic Insights
7.2. Hospitals: Life Science/Medical Seals Market Trend and Forecast (US$ Million)
7.3. Private Clinics: Life Science/Medical Seals Market Trend and Forecast (US$ Million)
7.4. Research Laboratories: Life Science/Medical Seals Market Trend and Forecast (US$ Million)
8. Life Science/Medical Seals Market Analysis - By Certification Type
8.1. Strategic Insights
8.2. FDA or ISO 13485: Life Science/Medical Seals Market Trend and Forecast (US$ Million)
8.3. USP Class VI: Life Science/Medical Seals Market Trend and Forecast (US$ Million)
8.4. Others: Life Science/Medical Seals Market Trend and Forecast (US$ Million)
9. Life Science/Medical Seals Market Analysis - By Region
10. Competitive Analysis
10.1. Strategic Insights
10.2. Product Portfolio Analysis
10.3. Presence by Material Type
10.4. Geographical Presence
10.5. New Product Launches
10.6. Strategic Alliances: Mergers & Acquisitions, Joint Ventures, Collaborations, etc.
10.7. Expert Opinion
10.8. Market Share Analysis
11. Strategic Growth Opportunities
11.1. Strategic Insights
11.2. Market Attractiveness Analysis
11.3. Growth Matrix Analysis
11.4. Emerging Trends
11.5. Key Success Factors
12. Company Profiles of Key Players
12.1. Apple Rubber Products, Inc.
12.2. Bal Seal Engineering, Inc.
12.3. Freudenberg Group
12.4. Greene, Tweed & Co.
12.5. IDEX Corporation
12.6. Parker Hannifin Corporation
12.7. Saint-Gobain S.A.
12.8. Technetics Group
12.9. Trelleborg AB
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