Medical Adhesives Market 2021 : Top Manufacturers, Impact of Covid 19 on Industry Share, CAGR and Forecasts to 2027
Market Overview:
The Medical Adhesive is a
gluey chemical substance used in the medical devices, equipment, and other
components to serve the purpose of adhesion. The medical adhesive possess some
important properties such as greater bonding and permeability to gas and
moisture in order to heal the wound. The protuberant factors driving growth of
the market include rising ageing population, increasing prevalence of diseases
and growing healthcare needs. In addition to this, significantly rising
healthcare spending by the emerging economies along with growing national level
sentiments to provide quality, efficient and affordable healthcare services is
projected to add into the growth factors of the market. The Global Medical
Device Market, which is a major consumer of the Medical Adhesives, is growing
considerable CAGR of 5% to reach three digit billion dollar figure by the end
of this review period.
Market
Segmentation:
The
Global Medical Adhesive Market is segmented on the basis of resin
type, technology, application, and region. On the basis of resin type, the
market is divided into natural and synthetic. The natural Medical Adhesives
includes collagen and fibrin, wherein collagen is gaining popularity among the
bio-based medical adhesive manufactures due to its easy availability and
efficient bonding nature. On the other hand, the synthetic Medical Adhesives
consists of acrylic, epoxy, silicone, polyurethane, and cyanoacrylates.
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Based
on Technology the market is segmented
into water based, hot metal based, and solvent based. Among these technologies,
water-based technology is growing at the highest CAGR on account of its distinct
properties such as low VOC content, and lower cost as compared to other
technologies. Moreover, the water based medical adhesives can withstand a wide
temperature range to propel the demand for the product in the coming years.
On
the Basis of Application,
the Global Medical Adhesive Market is market is divided into dental, medical
device & equipment, tissue bonding, wound closure, fixation tape, and
others. The use of medical adhesive is holding substantial share of the market
in dental applications for restorative and for dental appliance fabrication,
which are by dental practitioners in small unit dose dispensers and, due to the
widespread use of fluoride treatments for recent generations.
Regional
Analysis:
Regionally, the Global Medical
Adhesive Market is segmented into five key regions: Asia Pacific, Europe, North
America, the Middle East & Africa, and Latin America. Among these regions,
Asia Pacific is growing at the highest CAGR, and holding more than 30% share of
the global medical adhesive market. The growth of the market in this region is
mainly driven by the steady rise in government spending on healthcare sector
mingled with updating healthcare infrastructure. North America is the second
most substantial medical adhesive market across the globe, wherein growth of
the market is primarily favored by the increasing demand of portable medical
devices and well-established manufacturer base, along with continuous
innovation in medical sector. Europe is another important region in the global
medical adhesive market after North America. This is attributed to the
stringent regulatory measure undertaken by the government agencies such as
Child Resistive Packaging (CRP), which mandates the drug manufactures to pack
the products in resistive package. Other regions in the global medical adhesive
market are the Middle East & Africa and Latin America. Among them, the
market for medical adhesive in Latin America is estimated to grow at a
considerable CAGR owing to pacifying economic and political scenario. The
Middle East & Africa hold a least share of the global medical adhesive
market, which is expected to witness a significant changes in coming years.
Competitive
Analysis:
Key players operating in the
Global Medical Adhesive Market are Ethicon US, LLC (U.S.), Covidien plc
(Ireland), B. Braun Melsungen AG (Germany), Henkel AG & Co. KGaA (Germany),
Gem srl (Italy), GluStitch (Canada), Cohera Medical, Inc. (The Netherlands), Chemence
(U.K), Baxter (U.S.), and Adhezion Biomedical, LLC (U.S.), among others.
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