Medical Foam Market Size, Share, Growth, Trends, and Global Industry Analysis: By Material (Polyurethane, Polystyrene, Polyolefin, Others) By Form (Flexible Foam, Spray Foam, Rigid Foam) By Application (Wound Dressings, Medical Devices cushioning, Medical Device LCD Screen, Prosthetic Padding, Sealing of Ostomy Equipment, Body and Underfoot Pressure Relief, Custom Orthotics, Others) and Region        

Medical Foam Market size was valued at US$ 33,902.2 million in 2023 and is projected to grow at 6.3% from 2024 to 2030. The global medical foam market has observed robust growth due to the rapid expansion of the medical devices sector, rising global health expenditure, and increasing demand for technological advanced implantable medical devices. Medical foam plays a vital role in providing effective wound management solutions and supporting in the advancement of innovative medical devices, contributing to enhanced patient outcomes. It has various benefits such as resistance to severe climates and fungal infections, which boosts the demand for medical foams, hence it is extensively used in the pharmaceutical and healthcare sector. Medical foams are commonly used in equipment such as LCD screens, wound dressings, prosthetic padding, and others. These various benefits of medical foams are driving the market’s growth. However, the fluctuations in the price of crude oil effects the cost of Benzene which further lead to the high cost of medical foam. In addition, the cost of styrene and other major raw materials decides the cost of polystyrene foam. These variations further benefit the substitutes of medical foam. As the cost of raw materials is increasing people are preferring other products which is a majorly hindering the market’s growth.

Recent Market Developments:

• In December 2023, The US Food & Drug Administration (FDA) approved the Roflumilast topical foam 0.3% which is used for the treatment of Seborrheic Dermatitis in 9 years or older aged population. 
• In June 2023, University of Bath, announced that Graphene-like foam sensors from Stirlingshire-based Integrated Graphene can detect lactate concentrations for medical and fitness applications. 
• In May 2023, Probo Medical which is known for its diagnostic imaging equipment announced the acquisition of the magnetic resonance imaging (MRI) coil repair operation from US-based Creative Foam.