Medical Adhesives Market Growth: Future Prospects, Industry Share, CAGR and Forecast 2030

 

Market Overview:

The Medical Adhesive Market Growth 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 Growth 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 growth 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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