Frost: Silicone Becoming Ideal Choice for Varied Medical Device Applications
February 6, 2007 // Published as a news service by IHS
| |
| IHS Sells Standards & Regulations |
Environment/Health/Safety solutions from IHS include current & historical codes, regs & standards from gov't, int'l & industry sources.
Complete this form for a free quote. |
|
With its long history of successful use in the medical industry and unique combination of properties, silicone is well-positioned to meet the ever-demanding material requirements of medical device fabricators.
Recent analysis from Frost & Sullivan found that the Western European medical silicone market earned revenues of €155.0 million in 2005, with estimates to reach €237.2 million in 2012.
"Silicone has a lot of merits compared to other materials that might be considered for similar device applications, especially in the critical area of biocompatibility," said Frost & Sullivan research analyst Kumud Verma.
"The extensive diversity of requirements for medical devices has been accompanied by the development of different types of silicone formulations for such applications."
Analysts said cost-containment strategies and rationalization of resources have intensified price-sensitive dynamics for medical device fabricators in Western Europe.
Despite growing pressures from national cost-containment policies that have curbed the medical industry's positive growth trend, the industry is extremely vital, driven by growing income, aging populations and the commitment of societies to improve the quality of life in general.
Simultaneously, the medical device market is continuously evolving as products and manufacturing techniques develop, while the needs of end-users become increasingly sophisticated. Analysts said these issues are indirectly affecting the market for silicone formulations used for high-end medical devices.
"Cost-containment policies limit the sales of expensive medical devices," said Verma. "Sometimes it becomes difficult for medical device suppliers to justify the cost premium that devices command, when low-priced alternatives are also available."
While evaluating silicone as a potential material for a medical device component or assembly, analysts said device manufacturers will need to examine the possibility of design assistance, prototyping, material and part-testing, as well as determine its cost-effectiveness.
For instance, while silicone rubber may have a higher cost per kilogram (kg) than other common elastomers, the potential for tooling, prototyping and manufacturing efficiencies with silicone can often help medical device manufacturers realize substantial savings.
Source: Frost & Sullivan.