Medical Adhesives Market Size, share, Industry Growing Rapidly with Recent Demand, Trends, Development, Revenue and Forecast 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 Size 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 Size 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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